From GlobeNewswire: 2025-04-16 09:20:00

The Clinical Laboratory Services Market was valued at USD 250.94 billion in 2023 and is expected to reach USD 343.58 billion by 2032, with a CAGR of 3.59% from 2024-2032. Factors driving growth include rising need for early disease diagnosis, aging populations, and technological advancements in AI-based diagnostics and point-of-care testing.

In the U.S., the Clinical Laboratory Services Market was valued at USD 69.16 billion in 2023 and is expected to reach USD 95.15 billion by 2032, growing at a CAGR of 3.65%. The U.S. leads the North American market with established healthcare infrastructure and major laboratory service providers like Quest Diagnostics and Labcorp.

The Clinical Chemistry segment dominated the market in 2023 with 55.46% market share, driven by its wide-ranging application in routine and specialty diagnostic testing. Stand-Alone Laboratories are expected to show the fastest growth with a 4.06% CAGR, due to demand for affordable and convenient diagnostic facilities.

Bioanalytical & Lab Chemistry Services dominated the market in 2023 with 51.68% market share, playing a vital role in drug development and therapeutic monitoring. North America leads the market with 38.11% market share in 2023, while Asia-Pacific is expected to register the fastest growth. North America dominates the clinical laboratory services market in 2023, driven by high R&D investments and rising rates of chronic diseases. Asia-Pacific shows rapid growth at 4.21% CAGR, with China and India leading due to increased healthcare accessibility and government support. Outsourcing to APAC by pharma companies also fuels market expansion.

Key points in the market analysis include an introduction, executive summary, research methodology, statistical insights, and competitive landscape. The report covers various segments such as test type, service provider, application, and regional analysis. Company profiles, use cases, and best practices are also included to provide a comprehensive overview of the industry.

Related reports from SNS Insider cover the molecular diagnostics market, point-of-care testing analysis, digital pathology forecast, and healthcare analytics outlook. SNS Insider is a leading market research and consulting agency providing clients with up-to-date market data, consumer insights, and opinions to make informed decisions in a rapidly changing business environment.



Read more at GlobeNewswire: Clinical Laboratory Services Market Size to Reach USD