The global clinical laboratory services market is expected to grow at 5.8% CAGR between the years 2013 and 2019, thereby reaching a market value of US$241.37 billion in 2019 from US$162.71 billion in 2012. Clinical laboratories basically refer to centers that are engaged in carrying out diagnostic tests for identifying diseases, examining the causes of the diseases, the imbalances in the overall physiology, and the resultant anomalies.
The Asia Pacific market for clinical laboratory services is primarily driven by a large population base that has several unmet medical and healthcare needs. However, a major market restraint in this region is the highly unorganized healthcare reimbursement trend, which is likely to hinder the growth in this market. The main solution to tackle this problem is the implementation of strict regulatory measures that will ensure growth in the long run.
Some of the prominent players operating in the global clinical laboratory services market are Quest Diagnostics, Inc., Spectra Laboratories, Sonic Healthcare Limited, Labco S.A., Laboratory Corporation Of America Holdings (Labcorp), Healthscope Ltd., Genoptix Medical Laboratory, Charles River Laboratories, Bioscientia Healthcare, Bio-Reference Laboratories, ARUP Laboratories, and Abbott Laboratories.
