According to the latest market research study released by Technavio, the global clinical reference laboratory services market is expected to grow at a CAGR of close to 6% during the forecast period 2016-2020.
This market research report by Technavio provides an in-depth analysis of the market in terms of revenue and emerging market trends. The report also includes an up-to-date analysis and forecasts for various market segments and all geographical regions.
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Technavio research analysts categorize the global clinical reference laboratory services market based on service providers:
Global clinical reference laboratory services market by service providers 2015
|
Stand-alone reference laboratory |
48.02% |
|
Hospital-based reference laboratories |
37.42% |
|
Clinic-based reference laboratories |
14.56% |
Source: Technavio
Stand-alone reference laboratories services
The stand-alone reference laboratories services segment accounted for over 48% of the total market share in 2015 and is expected to occupy about 49% by 2020. These laboratories are not collaborated with any hospitals and clinics though they usually get business from many hospitals and clinics. It gets a reference to conduct tests and clinical trials from pharmaceuticals and biotechnology companies, corporate office, insurance companies, and government entities. These centers invest in advanced technologies for molecular diagnostics in genetic testing and cancer screening. Many service providers are also launching a new range of condition-specific markers and tests, particularly in genomics and proteomics. Some of these tests include hepatitis C virus (HCV) diagnostic tests and cancer tests. Biotechnology and pharmaceuticals companies outsource clinical trials and in-vitro tests to stand-alone reference laboratories.
“The development of laboratory information system (LIS) aids in recording, managing and storing data for clinical tests. It also helps in tracking orders, recording results, and exchanging electronic data with other clients. This system increases efficiency, better handling of test samples, provides patient’s data management and offers easy accessibility. The availability of results online helps in reducing data management cost and saves time,” says Srinivas Sashidhar, a lead analyst at Technavio for research on in-vitro diagnostics.
Hospital-based reference laboratories services
The hospital-based reference laboratories services segment accounted for around 37% of the total market share in 2015 and is expected to occupy almost 39% by 2020. Hospital-based reference laboratories can process a high volume of complicated and advanced tests in a quick and cost-effective manner. The laboratories are equipped with advanced equipment that enables them to handle high-volume samples proficiently. These centers offer wide range of laboratory solutions that include basic educational and consultative support to high-end training. These labs also provide additional services like courier support for specimen transport within network area, operational benchmarking, lab efficiency audits, staffing, laboratory management, quality improvement programs, hospital outreach testing, and IT products to improve physician-hospital connectivity. Some laboratories are focusing on technologically advanced rapid diagnostics tests such as real-time PCR technique, blood culture tests, and peptide nucleic acid fluorescent in-situ hybridization (PNA-FISH).
Clinic-based reference laboratories services
The clinic-based reference laboratories services segment accounted for almost 15% of the total market share in 2015 and is expected to occupy over 12% by 2020. These labs are smaller and get references from small clinics, healthcare professional’s offices, and nursing homes. The increasing number of small clinics, healthcare professional’s private clinics, and nursing homes in developing countries will help in the growth of this market segment. In countries like India, Brazil, China, Russia, and South Africa the healthcare industry is developing which in turn, is increasing the demand for medical devices and diagnostic test centers. Moreover, private healthcare providers in emerging markets are focusing on cost-effectiveness and scalability to meet high patient volumes. Such developments in emerging nations will increase the demand for clinic-based reference laboratories services to meet the consumer requirements.
The top leading vendors operating in the global clinical reference laboratory services market are:
- Laboratory Corporation of America
- Quest Diagnostics
- Bio-Reference Laboratories
- Cinven
Other prominent vendors in the market include Acibadem Labmed Laboratory, ACM Medical Laboratory, Adicon Clinical Laboratories, American Pathology Partners, ARUP Laboratories, Aurora Diagnostics, Biomnis, Centrex Clinical Laboratories, Clinical Reference Laboratory, Enzo Clinical Labs, Genomic Health, Integrated Regional Laboratories, LifeLabs Medical Laboratory Services, MEDTOX Scientific, Mid America Clinical Laboratories, Signal Genetics, Solstas Lab Partners, Spectra Laboratories, and ViraCor-IBT Laboratories.
A more detailed analysis is available in the Technavio report titled, ‘Global Clinical Reference Laboratory Services Market 2016-2020’. Technavio also customizes reports by other regions and specific segments upon request.
Other related reports:
- Global Point-of-Care Coagulation Testing Market 2016-2020
- Global Blood Culture Tests Market 2016-2020
- Global Laboratory Sterilizers Market 2016-2020
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