U.S. Clinical Laboratory Services MarketU.S. Clinical Laboratory Services Market Insightful Analysis: Trends, Competitor Dynamics, and Opportunities 2024-2032
U.S. Clinical Laboratory Services Market by Test Type (Clinical Chemistry, Hematology, Genetic Testing, Microbiology & Cytology, Others), by Age (Pediatric, Adult), by Source of Payment (Public, Private, Out of Pocket), by Service Provider (Hospital-based Laboratories, Stand-alone Laboratories, Clinic-based Laboratories, Others), by Forecast 2024-2032
Base Year: 2023
150 Pages
U.S. Clinical Laboratory Services Market Insightful Analysis: Trends, Competitor Dynamics, and Opportunities 2024-2032
Key Insights
The U.S. Clinical Laboratory Services Market size was valued at USD 102.68 USD Billion in 2023 and is projected to reach USD 164.88 USD Billion by 2032, exhibiting a CAGR of 7.0 % during the forecast period. The US Clinical Laboratories Services industry focuses on diagnosing and analyzing the samples and other biological tests that are done by the clinical laboratories. They include blood tests, urine tests, genetic tests, pathology, and microbiological ones which are needed to diagnose, caution, and monitor different diseases. Applications span the spectrum from hospitals, overturn physician offices, and develop labs, facilitating disease detection, patient management, and personalized medicine. The main trends in this domain include automation and artificial intelligence alongside enhanced precision and speed due to molecular diagnostics. Also worth pointing out the forward trend of preventive healthcare and more and more possibilities of home-based and even direct-to-consumer testing services. With the demand for quality and overall diagnostic diagnostics increasing in the U. S., the clinical laboratory service market is becoming more and more diverse and innovative for better patient care and higher healthcare delivery.
U.S. Clinical Laboratory Services Trends
- Increasing prevalence of chronic diseases
- Growing demand for personalized medicine
- Technological advancements in laboratory testing
- Rising healthcare expenditure
- Increasing focus on preventive healthcare
Driving Forces: What's Propelling the U.S. Clinical Laboratory Services Market
- The rise in the aging population
- Rising incidence of chronic diseases like cancer, diabetes, and cardiovascular diseases
- Growing awareness of the importance of preventive healthcare
- Technological advancements in laboratory testing
- Government initiatives to improve healthcare infrastructure
Challenges and Restraints in U.S. Clinical Laboratory Services Market
- High cost of laboratory testing
- Reimbursement issues
- Lack of skilled professionals
- Stringent regulatory requirements
- Competition from non-traditional players
Emerging Trends in U.S. Clinical Laboratory Services
- The use of artificial intelligence (AI) and machine learning (ML) in laboratory testing
- The development of personalized medicine
- The use of point-of-care testing devices
- The growing trend of home-based laboratory testing
- The use of telemedicine for remote laboratory testing
Growth Catalysts in U.S. Clinical Laboratory Services Industry
- The increasing adoption of value-based care models
- The rising demand for laboratory testing in emerging markets
- The increasing focus on healthcare innovation
- The growing awareness of the importance of laboratory testing in disease prevention and early detection
Market Segmentation: U.S. Clinical Laboratory Services Analysis
- Test Type:
- Clinical Chemistry
- Hematology
- Genetic Testing
- Microbiology & Cytology
- Others
- Age:
- Pediatric
- Adult
- Source of Payment:
- Public
- Private
- Out of Pocket
- Service Provider:
- Hospital-based Laboratories
- Stand-alone Laboratories
- Clinic-based Laboratories
- Others
Leading Players in the U.S. Clinical Laboratory Services Market
- Laboratory Corporation of America (U.S.)
- Quest Diagnostics Incorporated (U.S.)
- Illumina, Inc. (U.S.)
- Eurofins Scientific (Luxembourg)
- UNILABS (A.P. Moller Holding A/S) (Switzerland)
- NeoGenomics Laboratories, Inc. (U.S.)
- ARUP Laboratories (U.S.)
- Sonic Healthcare Limited (Australia)
Significant developments in U.S. Clinical Laboratory Services Sector
- In 2021, Laboratory Corporation of America (LabCorp) acquired the clinical laboratory assets of Intermountain Healthcare for USD 600 million.
- In 2022, Quest Diagnostics completed the acquisition of Clinical Pathology Laboratories (CPL).
- In 2023, Illumina announced a new partnership with GRAIL, Inc. to develop and commercialize a multi-cancer early detection blood test.
Comprehensive Coverage U.S. Clinical Laboratory Services Market Report
- The report provides a comprehensive analysis of the U.S. Clinical Laboratory Services Market.
- Key market segments are identified and analyzed in detail.
- Market drivers and restraints are thoroughly examined.
- Market potential and opportunities are assessed.
- Competitive landscape is profiled and analyzed.
- Future market trends are predicted and analyzed.
Regional Insight
- The U.S. Clinical Laboratory Services Market is segmented into the following regions:
- Northeast
- Southeast
- Midwest
- West
DROCT
- Data is collected and analyzed from multiple sources, including government agencies, industry associations, and market research firms.
- The data is verified and validated through multiple sources, including interviews with industry experts.
- The report provides a balanced and unbiased view of the market, providing insights into the factors driving and restraining market growth, as well as the opportunities and challenges faced by market players.
Pricing Analysis
- The report provides a detailed analysis of the pricing trends in the U.S. Clinical Laboratory Services Market.
- Pricing data is collected from multiple sources, including government agencies, industry associations, and market research firms.
- The data is analyzed to identify key pricing trends and factors that influence pricing.
Import And Export Analysis
- The report provides an analysis of the import and export trends in the U.S. Clinical Laboratory Services Market.
- Import and export data is collected from government agencies, industry associations, and market research firms.
- The data is analyzed to identify key import and export trends and factors that influence import and export volumes.
Segmentation
- The report provides a detailed segmentation of the U.S. Clinical Laboratory Services Market.
- The market is segmented by test type, age, source of payment, and service provider.
- The data is analyzed to identify key segments and their contributions to the overall market.
Patent/Trademark Analysis
- The report provides an analysis of the patent and trademark landscape in the U.S. Clinical Laboratory Services Market.
- Patent and trademark data is collected from government agencies and patent and trademark databases.
- The data is analyzed to identify key patent and trademark trends and factors that influence patent and trademark filings.
U.S. Clinical Laboratory Services Market REPORT HIGHLIGHTS
| Aspects | Details |
|---|---|
| Study Period | 2018-2032 |
| Base Year | 2023 |
| Estimated Year | 2024 |
| Forecast Period | 2024-2032 |
| Historical Period | 2018-2023 |
| Growth Rate | CAGR of 7.0% from 2018-2032 |
| Segmentation |
|
Frequently Asked Questions
Table Of Content
- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 2.1. Introduction
- 3. Market Dynamics
- 3.1. Introduction
- 3.2. Market Drivers
- 3.2.1. Significant R&D Investment by Market Players to Boost Market Growth
- 3.3. Market Restrains
- 3.4. Market Trends
- 3.4.1. Increasing Number of Hospitals and ASCs Identified as Significant Market Trend
- 4. Market Factor Analysis
- 4.1. Porters Five Forces
- 4.2. Supply/Value Chain
- 4.3. PESTEL analysis
- 4.4. Market Entropy
- 4.5. Patent/Trademark Analysis
- 5. U.S. Clinical Laboratory Services Market Analysis, Insights and Forecast, 2018-2030
- 5.1. Market Analysis, Insights and Forecast - by Test Type
- 5.1.1. Clinical Chemistry
- 5.1.2. Hematology
- 5.1.3. Genetic Testing
- 5.1.4. Microbiology & Cytology
- 5.1.5. Others
- 5.2. Market Analysis, Insights and Forecast - by Age
- 5.2.1. Pediatric
- 5.2.2. Adult
- 5.3. Market Analysis, Insights and Forecast - by Source of Payment
- 5.3.1. Public
- 5.3.2. Private
- 5.3.3. Out of Pocket
- 5.4. Market Analysis, Insights and Forecast - by Service Provider
- 5.4.1. Hospital-based Laboratories
- 5.4.2. Stand-alone Laboratories
- 5.4.3. Clinic-based Laboratories
- 5.4.4. Others
- 5.5. Market Analysis, Insights and Forecast - by Region
- 5.5.1.
- 5.1. Market Analysis, Insights and Forecast - by Test Type
- 6. Northeast U.S. Clinical Laboratory Services Market Analysis, Insights and Forecast, 2018-2030
- 6.1. Market Analysis, Insights and Forecast - By Test Type
- 6.1.1 Clinical Chemistry
- 6.1.2 Hematology
- 6.1.3 Genetic Testing
- 6.1.4 Microbiology & Cytology
- 6.1.5 and Others
- 6.2. Market Analysis, Insights and Forecast - By Age
- 6.2.1. Pediatric and Adult
- 6.3. Market Analysis, Insights and Forecast - By Source of Payment
- 6.3.1 Public
- 6.3.2 Private
- 6.3.3 and Out of Pocket
- 6.4. Market Analysis, Insights and Forecast - By Service Provider
- 6.4.1 Hospital-based Laboratories
- 6.4.2 Stand-alone Laboratories
- 6.4.3 Clinic-based Laboratories
- 6.4.4 and Others
- 7. Southeast U.S. Clinical Laboratory Services Market Analysis, Insights and Forecast, 2018-2030
- 7.1. Market Analysis, Insights and Forecast - By Test Type
- 7.1.1 Clinical Chemistry
- 7.1.2 Hematology
- 7.1.3 Genetic Testing
- 7.1.4 Microbiology & Cytology
- 7.1.5 and Others
- 7.2. Market Analysis, Insights and Forecast - By Age
- 7.2.1. Pediatric and Adult
- 7.3. Market Analysis, Insights and Forecast - By Source of Payment
- 7.3.1 Public
- 7.3.2 Private
- 7.3.3 and Out of Pocket
- 7.4. Market Analysis, Insights and Forecast - By Service Provider
- 7.4.1 Hospital-based Laboratories
- 7.4.2 Stand-alone Laboratories
- 7.4.3 Clinic-based Laboratories
- 7.4.4 and Others
- 8. Midwest U.S. Clinical Laboratory Services Market Analysis, Insights and Forecast, 2018-2030
- 8.1. Market Analysis, Insights and Forecast - By Test Type
- 8.1.1 Clinical Chemistry
- 8.1.2 Hematology
- 8.1.3 Genetic Testing
- 8.1.4 Microbiology & Cytology
- 8.1.5 and Others
- 8.2. Market Analysis, Insights and Forecast - By Age
- 8.2.1. Pediatric and Adult
- 8.3. Market Analysis, Insights and Forecast - By Source of Payment
- 8.3.1 Public
- 8.3.2 Private
- 8.3.3 and Out of Pocket
- 8.4. Market Analysis, Insights and Forecast - By Service Provider
- 8.4.1 Hospital-based Laboratories
- 8.4.2 Stand-alone Laboratories
- 8.4.3 Clinic-based Laboratories
- 8.4.4 and Others
- 9. Southwest U.S. Clinical Laboratory Services Market Analysis, Insights and Forecast, 2018-2030
- 9.1. Market Analysis, Insights and Forecast - By Test Type
- 9.1.1 Clinical Chemistry
- 9.1.2 Hematology
- 9.1.3 Genetic Testing
- 9.1.4 Microbiology & Cytology
- 9.1.5 and Others
- 9.2. Market Analysis, Insights and Forecast - By Age
- 9.2.1. Pediatric and Adult
- 9.3. Market Analysis, Insights and Forecast - By Source of Payment
- 9.3.1 Public
- 9.3.2 Private
- 9.3.3 and Out of Pocket
- 9.4. Market Analysis, Insights and Forecast - By Service Provider
- 9.4.1 Hospital-based Laboratories
- 9.4.2 Stand-alone Laboratories
- 9.4.3 Clinic-based Laboratories
- 9.4.4 and Others
- 10. West U.S. Clinical Laboratory Services Market Analysis, Insights and Forecast, 2018-2030
- 10.1. Market Analysis, Insights and Forecast - By Test Type
- 10.1.1 Clinical Chemistry
- 10.1.2 Hematology
- 10.1.3 Genetic Testing
- 10.1.4 Microbiology & Cytology
- 10.1.5 and Others
- 10.2. Market Analysis, Insights and Forecast - By Age
- 10.2.1. Pediatric and Adult
- 10.3. Market Analysis, Insights and Forecast - By Source of Payment
- 10.3.1 Public
- 10.3.2 Private
- 10.3.3 and Out of Pocket
- 10.4. Market Analysis, Insights and Forecast - By Service Provider
- 10.4.1 Hospital-based Laboratories
- 10.4.2 Stand-alone Laboratories
- 10.4.3 Clinic-based Laboratories
- 10.4.4 and Others
- 11. Competitive Analysis
- 11.1. Market Share Analysis 2023
- 11.2. Company Profiles
- 11.2.1 Laboratory Corporation of America (U.S.)
- 11.2.1.1. Overview
- 11.2.1.2. Products
- 11.2.1.3. SWOT Analysis
- 11.2.1.4. Recent Developments
- 11.2.1.5. Financials (Based on Availability)
- 11.2.2 Quest Diagnostics Incorporated (U.S.)
- 11.2.2.1. Overview
- 11.2.2.2. Products
- 11.2.2.3. SWOT Analysis
- 11.2.2.4. Recent Developments
- 11.2.2.5. Financials (Based on Availability)
- 11.2.3 Illumina Inc. (U.S.)
- 11.2.3.1. Overview
- 11.2.3.2. Products
- 11.2.3.3. SWOT Analysis
- 11.2.3.4. Recent Developments
- 11.2.3.5. Financials (Based on Availability)
- 11.2.4 Eurofins Scientific (Luxembourg)
- 11.2.4.1. Overview
- 11.2.4.2. Products
- 11.2.4.3. SWOT Analysis
- 11.2.4.4. Recent Developments
- 11.2.4.5. Financials (Based on Availability)
- 11.2.5 UNILABS (A.P. Moller Holding A/S) (Switzerland)
- 11.2.5.1. Overview
- 11.2.5.2. Products
- 11.2.5.3. SWOT Analysis
- 11.2.5.4. Recent Developments
- 11.2.5.5. Financials (Based on Availability)
- 11.2.6 NeoGenomics Laboratories Inc. (U.S.)
- 11.2.6.1. Overview
- 11.2.6.2. Products
- 11.2.6.3. SWOT Analysis
- 11.2.6.4. Recent Developments
- 11.2.6.5. Financials (Based on Availability)
- 11.2.7 ARUP Laboratories (U.S.)
- 11.2.7.1. Overview
- 11.2.7.2. Products
- 11.2.7.3. SWOT Analysis
- 11.2.7.4. Recent Developments
- 11.2.7.5. Financials (Based on Availability)
- 11.2.8 Sonic Healthcare Limited (Australia)
- 11.2.8.1. Overview
- 11.2.8.2. Products
- 11.2.8.3. SWOT Analysis
- 11.2.8.4. Recent Developments
- 11.2.8.5. Financials (Based on Availability)
- 11.2.1 Laboratory Corporation of America (U.S.)
List of Figures
- Figure 1: U.S. Clinical Laboratory Services Market Revenue Breakdown (USD Billion, %) by Product 2023 & 2031
- Figure 2: U.S. Clinical Laboratory Services Market Value Share (%), by Test Type 2023 & 2031
- Figure 3: U.S. Clinical Laboratory Services Market Value Share (%), by Age 2023 & 2031
- Figure 4: U.S. Clinical Laboratory Services Market Value Share (%), by Source of Payment 2023 & 2031
- Figure 5: U.S. Clinical Laboratory Services Market Value Share (%), by Service Provider 2023 & 2031
- Figure 6: U.S. Clinical Laboratory Services Market Share (%) by Company 2023
List of Tables
- Table 1: U.S. Clinical Laboratory Services Market Revenue USD Billion Forecast, by Test Type 2018 & 2031
- Table 2: U.S. Clinical Laboratory Services Market Revenue USD Billion Forecast, by Age 2018 & 2031
- Table 3: U.S. Clinical Laboratory Services Market Revenue USD Billion Forecast, by Source of Payment 2018 & 2031
- Table 4: U.S. Clinical Laboratory Services Market Revenue USD Billion Forecast, by Service Provider 2018 & 2031
- Table 5: U.S. Clinical Laboratory Services Market Revenue USD Billion Forecast, by Region 2018 & 2031
- Table 6: U.S. Clinical Laboratory Services Market Revenue USD Billion Forecast, by Test Type 2018 & 2031
- Table 7: U.S. Clinical Laboratory Services Market Revenue USD Billion Forecast, by Age 2018 & 2031
- Table 8: U.S. Clinical Laboratory Services Market Revenue USD Billion Forecast, by Source of Payment 2018 & 2031
- Table 9: U.S. Clinical Laboratory Services Market Revenue USD Billion Forecast, by Service Provider 2018 & 2031
- Table 10: U.S. Clinical Laboratory Services Market Revenue USD Billion Forecast, by Region 2018 & 2031
- Table 11: U.S. Clinical Laboratory Services Market Revenue USD Billion Forecast, by Test Type 2018 & 2031
- Table 12: U.S. Clinical Laboratory Services Market Revenue USD Billion Forecast, by Age 2018 & 2031
- Table 13: U.S. Clinical Laboratory Services Market Revenue USD Billion Forecast, by Source of Payment 2018 & 2031
- Table 14: U.S. Clinical Laboratory Services Market Revenue USD Billion Forecast, by Service Provider 2018 & 2031
- Table 15: U.S. Clinical Laboratory Services Market Revenue USD Billion Forecast, by Country 2018 & 2031
- Table 16: Northeast U.S. Clinical Laboratory Services Market Revenue (USD Billion) Forecast, by Application 2018 & 2031
- Table 17: Southeast U.S. Clinical Laboratory Services Market Revenue (USD Billion) Forecast, by Application 2018 & 2031
- Table 18: Midwest U.S. Clinical Laboratory Services Market Revenue (USD Billion) Forecast, by Application 2018 & 2031
- Table 19: Southwest U.S. Clinical Laboratory Services Market Revenue (USD Billion) Forecast, by Application 2018 & 2031
- Table 20: West U.S. Clinical Laboratory Services Market Revenue (USD Billion) Forecast, by Application 2018 & 2031
- Table 21: U.S. Clinical Laboratory Services Market Revenue USD Billion Forecast, by Test Type 2018 & 2031
- Table 22: U.S. Clinical Laboratory Services Market Revenue USD Billion Forecast, by Age 2018 & 2031
- Table 23: U.S. Clinical Laboratory Services Market Revenue USD Billion Forecast, by Source of Payment 2018 & 2031
- Table 24: U.S. Clinical Laboratory Services Market Revenue USD Billion Forecast, by Service Provider 2018 & 2031
- Table 25: U.S. Clinical Laboratory Services Market Revenue USD Billion Forecast, by Country 2018 & 2031
| Aspects | Details |
|---|---|
| Study Period | 2018-2032 |
| Base Year | 2023 |
| Estimated Year | 2024 |
| Forecast Period | 2024-2032 |
| Historical Period | 2018-2023 |
| Growth Rate | CAGR of 7.0% from 2018-2032 |
| Segmentation |
|
STEP 1 - Identification of Relevant Samples Size from Population Database
STEP 2 - Approaches for Defining Global Market Size (Value, Volume* & Price*)
Top-down and bottom-up approaches are used to validate the global market size and estimate the market size for manufactures, regional segemnts, product and application.
Note* : In applicable scenarios
STEP 3 - Data Sources
Primary Research
- Web Analytics
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- Research Institute
- Latest Research Reports
- Opinion Leaders
Secondary Research
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- Latest Press Release
- Industry Association
- Paid Database
- Investor Presentations
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Involves using different sources of information in order to increase the validity of a study
These sources are likely to be stakeholders in a program - participants, other researchers, program staff, other community members, and so on.
Then we put all data in single framework & apply various statistical tools to find out the dynamic on the market.
During the analysis stage, feedback from the stakeholder groups would be compared to determine areas of agreement as well as areas of divergence
Additionally after gathering mix and scattered data from wide range of sources, data is triangull- ated and correlated to come up with estimated figures which are further validated through primary mediums, or industry experts, opinion leader.
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