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LONDON, GREATER LONDON, UNITED KINGDOM, July 4, 2025 /EINPresswire.com/ -- The clinical laboratory services market size has witnessed robust growth in recent years, expanding from $291.7 billion in 2024 to a projected $314.18 billion in 2025 reflecting a compound annual growth rate CAGR of 7.7%. This historic period growth is accredited to the increase in chronic disease prevalence, rise in geriatric population, increase in personalized medicine, rise in the number of clinical trials, and the surge in automation in clinical laboratories.
What Does The Future Hold For The Clinical Laboratory Services Market?
A steady upward trajectory is expected for the clinical laboratory services market in the next few years, reaching an estimated $418.4 billion in 2029 at a CAGR of 7.4%. The increase in demand for diagnostic testing, increasing number of biochemistry tests, expanding healthcare expenditure, growing adoption of laboratory automation, and rising volumes of testing samples make significant contributions to this upward trend.
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What About The Catalyst That Propels This Clinical Laboratory Services Market Growth?
Emerging advancements such as artificial intelligence AI and digital technologies, innovative diagnostic technologies, advanced diagnostic technologies, as well as advanced molecular techniques also pave the way for high growth rates in the forecast period. Furthermore, the escalating demand for diagnostic testing contributes to this growth. Diagnostic tests aid early detection, effective treatment, and disease management by confirming or ruling out the presence of a disease condition in a patient. The need for diagnostic tests is on the rise due to increasing chronic and infectious diseases.
Who Are The Key Industry Players Taking Advantage Of This Burgeoning Clinical Laboratory Services Market?
Dominant players in the clinical laboratory services market include Roche Diagnostics India Private Limited, Thermo Fisher Scientific Inc., Abbott Laboratories, Siemens Healthineers AG, IQVIA Laboratories, Labcorp , Quest Diagnostics Incorporated, Geisinger Health System, Eurofins Scientific, Sonic Healthcare Limited, Grifols S.A., BioMérieux SA, SYNLAB Group, Bio-Rad Laboratories Inc., OPKO Health Inc, NeoGenomics Laboratories, Ambry Genetics Corporation, Genova Diagnostics GDX, Enzo Biochem Inc, Wildcat DX.
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How Is The Clinical Laboratory Services Market Segmented?
The clinical laboratory services market covered in this analysis is segmented as follows:
1 By Test Type: Genetic Testing, Clinical Chemistry, Medical Microbiology Testing, Hematology Testing, Immunology Testing, Cytology Testing, Drug Of Abuse Testing, Other Test Types
2 By Service Type: Hospital-Based Laboratories, Stand-Alone Laboratories, Clinic-Based Laboratories
3 By Technology: Conventional Laboratory Technology, Automated Laboratory Technology, Point-Of-Care Testing
4 By Application: Bioanalytical And Lab Chemistry Services, Toxicology Testing Services, Cell And Gene Therapy Related Services, Preclinical And Clinical Trial Related Services, Drug Discovery And Development Related Services, Other Clinical Laboratory Services
5 By End User: Hospitals, Diagnostic Laboratories, Clinics, Research Institutions
What Are The Regional Insights Of The Clinical Laboratory Services Market?
In 2024, North America was the largest region in the clinical laboratory services market. In the forecast period, Asia-Pacific is speculated to be the fastest-growing region. The regions accounted for in the clinical laboratory services market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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