Top Companies in Clinical Laboratory Services Market | Major Players of Industry Comprehensive Research Report | Vantage Market Research | Siemens, Quest Diagnostics, Abbott Laboratories
Clinical Laboratory Services are performed in a laboratory on clinical specimens to gain information about a patient's health.
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Market Overview:
The Global Clinical Laboratory Services Market is valued at USD 136.1 Billion in the year 2021 and is anticipated to reach a value of USD 181.3 Billion by the year 2028. The Global Market is forecasted to grow to exhibit a Compound Annual Growth Rate (CAGR) of 4.9% over the forecast period. Clinical Laboratories are an integral part of the healthcare industry. All the diagnostic tests, which range from blood tests to genetic analysis, are performed in these clinical laboratories to diagnose different diseases. It gives information and services which contribute to maximizing the necessary delivery in the healthcare system.
The burden of Target Diseases: The rise in the burden of the target diseases, such as tuberculosis, diphtheria, poliomyelitis, and measles, amongst others, acts as one of the major elements in the increase in the scientific laboratory services market.
The market is driven by the rising incidence of chronic diseases and the growing demand for accurate and early disease diagnoses. The burden of infectious diseases and chronic disorders is continuously growing worldwide. Clinical diagnostic tests constitute one of the most accurate strategies to identify and represent the diverse biomarkers of chronic diseases, in addition to the detection of microorganisms.
The pandemic highlighted the crucial position of diagnostic testing in outbreak control. As governments and health authorities around the world sought approaches to increase access to reliable testing to screen for diseases, the amplified worldwide demand for Covid-19 took a look at kits caused by shortages of laboratory-primarily based total molecular trying out. Given the pressing worldwide desire for fast, point-of-care diagnostic tests to address the continuous spread of the Covid-19 pandemic, rapid testing emerged as a crucial device to fulfill the unparalleled demand.
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Some of the key players operating in the Clinical Laboratory Services Market are listed below:
|
Company Name |
Revenue in the US |
|
$70 Billion |
|
$11 Billion |
|
$6 Billion |
|
$43 Billion |
|
$67 Million |
|
$52 Billion |
|
$8 Billion |
|
$484 Million |
|
$43 Billion |
|
$1 Billion |
The company was founded on 1 October 1847, in Berlin, Germany, and headquartered in Munich, Germany. Siemens AG is an engineering and manufacturing company. The Company focuses on areas of electrification, automation, and digitalization. Siemens also provides engineering solutions in automation and control, power, transportation, and medical diagnosis.
Quest Diagnostics Incorporated provides diagnostic testing, information, and services. The Company operates a national network of full-service laboratories, rapid response laboratories, and patient service centers. Quest Diagnostics offers esoteric, routine medical, drugs of abuse, and non-hospital-based anatomic pathology testing services.
Sonic Healthcare Limited is a medical diagnostics company with operations in Australia, New Zealand, and Europe. The Company provides a comprehensive range of pathology and diagnostic imaging services to medical practitioners, hospitals, and their patients along with providing administrative services and facilities to medical practitioners. It operates Australia's largest network of primary care medical centers, Independent Practitioner Network (IPN), and other healthcare businesses. Sonic Healthcare is headquartered in Sydney, New South Wales, Australia.
Abbott Laboratories discovers, develops, manufactures, and sells a broad and diversified line of health care products and services. The Company's products include pharmaceuticals, nutritional, diagnostics, and vascular products. Abbott markets its products worldwide through affiliates and distributors. The company also offers various medical devices including heart failure, electrophysiology, rhythm management, vascular and structural heart devices, and neuromodulation devices. The company also offers minerals and nutrition products and various dietary supplements. It has research and development facilities in the US, China, Colombia, India, Singapore, Spain, and the UK; and operates manufacturing facilities across the world.
Cinven is a global private equity firm founded in 1977 and headquartered in London, United Kingdom. Cinven Limited operates as a private equity investment firm. The Company invests in the business, consumer, financial, health care, industrial, technology, media, and telecommunication sectors. They as investor operates according to a clear set of principles related to environmental, social, and governance matters. Cinven serves investors worldwide.
Novartis International AG was founded in 1886. the headquarters are in Headquarters: Basel, Switzerland and the company holds a team of approximately 1,10,000 employees. The company's line of business includes providing various business services. It provides drugs for the treatment of cancer, cardiovascular diseases, dermatological conditions, neurological disorders, ophthalmic and respiratory diseases, immune disorders, and infections, among others. The company offers generic medicines and biosimilars through Sandoz. Novartis conducts research in various disease areas through The Novartis Institutes for BioMedical Research (NIBR).
The Carlyle Group Inc. operates as a global investment firm. The Company manages investment vehicles that invest across four segments which include corporate private equity, real assets, global credit, and investment solutions. Carlyle Group serves clients worldwide. Carlyle is headquartered in Washington DC, the US.
NeoGenomics Inc (NeoGenomics) is a cancer diagnostics and pharma services company that offers diagnostic, prognostic, and predictive testing services. NeoGenomics, Inc. operates a network of clinical laboratories that specializes in cancer genetics diagnostic testing services. The Company's services include cytogenetics, fluorescence in-situ hybridization (FISH), flow cytometry, morphology, anatomic pathology, and molecular genetic testing. NeoGenomics serves pathologists, oncologists, urologists, and hospitals. NeoGenomics is headquartered in Fort Myers, Florida, the US.
Sanofi manufactures pharmaceutical products. Sanofi is engaged in the research, development, manufacturing, and marketing of innovative therapeutic solutions. The Company offers drugs, generic medicines, food supplements, cosmetics, and medical devices such as cancer, cardiology, gynecology, and diabetes. Sanofi serves customers worldwide. The company headquarters are located in Paris, France.
OPKO Health, Inc. is a biopharmaceutical and diagnostics company, which engages in the provision of healthcare services. It operates through the following segments: Diagnostics and Pharmaceuticals. The Diagnostics segment includes the clinical laboratory operations of BioReference, as well as point-of-care operations. The company is involved in the discovery, development, and commercialization of pharmaceutical products, vaccines, and diagnostic products.
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