The recent outbreak of COVID-19 is expected to positively impact the clinical laboratory services industry, as the pandemic has boosted the clinical laboratory testing services. Based on the study published in National Center for Biotechnology Information in July 2020, it has been found that the current clinical diagnostics and technology, including molecular and serological testing approaches for severe acute respiratory syndrome‐coronavirus 2 (SARS‐CoV‐2) testing has increased.

There is also a rising number of developments of rapid and widespread testing through improvements in clinical diagnostics and testing technology that has helped in increasing the overall demand. In February 2021, Thermo Fisher Scientific launched the TaqPath COVID–19 HT Kit which for use on its automated amplitude platform, to increase their COVID-19 testing capacity by combining Thermo Fisher's extraction and real-time PCR instruments with liquid handling products from Tecan Group.

The market is primarily driven by the rising incidences of chronic diseases and the increasing demand for accurate and early disease diagnosis. The burden of infectious diseases and chronic disorders is constantly growing worldwide. Clinical diagnostic tests represent one of the most accurate methods to identify and characterize the various biomarkers of chronic diseases as well as for the detection of microorganisms. According to the World Health Organization (WHO) tuberculosis (TB) report in 2018, the disease was one of the top 10 causes of death worldwide. A total of 1.5 million people had died from TB in 2018 (including 251,000 people with HIV). In 2018, an estimated 10 million people fell ill with tuberculosis (TB) worldwide. 5.7 million men, 3.2 million women, and 1.1 million children were affected by this disease.

In addition, the growing burden of cancer is also expected to positively affect the demand for clinical diagnostics. According to Globocan 2020 figures, there were 19,292,789 new cancer cases diagnosed worldwide in 2020. The figures from Globocan 2020 also pointed out that the incidence of new cancer cases in very high HDI (Human Development Index) countries was 8,934,818, followed by 7,371,321 in high HDI countries. Medium and low HDI countries had 2,326,749 and 650,423 cases respectively.

Owing to the increased burden of the targeted disorder, market players are focusing on technological advancements of their products, in order to have a competitive edge over the other players. For instance, in October 2019, Helena Biosciences, Belgium, launched Glyco Liver Profile at the world’s first Liver Glycomics Congress to monitor and predict liver disease. Thus, these launches of the technologically advanced product coupled with increased awareness towards the early diagnosis of the disease are driving the market growth. However, stringent regulatory issues in various countries and lack of skilled labors are expected to restrain the market growth.

Key Market Trends

Independent Laboratories to Register Healthy Growth

The demand for laboratory testing is increasing, due to the increasing incidences of chronic diseases, thereby increasing the demand for the accurate diagnosis of different diseases. In highly populated and developing countries like India and China where a significant chunk of the population does not have access to proper medical diagnostic facilities, there is a huge opportunity for independent laboratories. According to National Accreditation Board for Testing and Calibration Laboratories (NABL) as of November 2020, there are around 6200 NABL accredited medical labs were present in India. Currently, the Independent laboratory segment is experiencing huge consolidation as players are focusing on strategic partnerships and collaborations which is likely to drive the growth of the market.

For instance, in October 2020, U-Diagnostics, a diagnostic laboratory in the Netherlands partnered with CENTOGENE, a major provider of COVID-19 testing in Germany to provide increased COVID testing services throughout the Netherlands. Also, in July 2020, Diaceutics PLC, company focused on Diagnostic Network solution for the development and commercialization of precision medicine diagnostics patterned with Targos Molecular Pathology and HistoCyte Laboratories to enhance and expand diagnostic testing services in 2,500 labs worldwide. All these developments are fuelling the segment growth and driving the overall market.

In COVID-19 the clinical diagnostics services in independent laboratory have also exprieneced a surge in the demand of testing. There has been various COVID-19 related development that happened in the recent past that anticipated to have positive impact over the growth of the market. For instance, In October 2020, U-Diagnostics, a partnered with CENTOGENE, a major provider of COVID-19 testing in Germany to provide increased COVID testing services throughout the Netherlands.​

North America is Expected to Hold the Largest Share of the Market

The major factor driving the growth of the North American clinical laboratory services market is the presence of key players and the government organizations in the country which enables awareness among the general population and allows them to access the services conveniently. For instance, the American Clinical Laboratory Association is a not-for-profit organization that offers members the benefits of representation, education, information, and research.

Also, increasing geriatric population, rising patient awareness about the value of laboratory tests, and rising prevalence of infectious and chronic disease patients are also some of the key factors driving the market growth. As per the Centers for Disease Control and Prevention (CDC), in 2018, 133 million Americans, 45% of the population has at least one chronic disease. Chronic diseases are responsible for every 7 out of 10 deaths, killing more than 1.7 million Americans every year. In addition, the high adoption of technological advancements in the country backed up by proper quality measures is playing an important role in delivering quality, efficient and effective service to the growing healthcare industry.

Competitive Landscape

The market for clinical laboratory services is highly competitive and various global, as well as local companies, are present in the market. A major share of the market is grabbed by the global players and local companies are also focusing on delivering innovative services to the people which is allowing these companies to establish their considerable place in this market. With a rising need for technology, it is expected that few new entrants will be seen in the market in the future and these players will gain a substantial share.

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