Global Clinical Diagnostic Market Insights, Forecast to 2028

Clinical Diagnostic Market 

The Clinical Diagnostic Market size will be USD 98 Billion in 2028. This is growing at a CAGR of 5.8% CAGR from 2022 to 2028. Key drivers of the clinical diagnostics market include the growing prevalence of chronic diseases.  The rising popularity of point-of-care testing due to the need for a shorter turnaround time of laboratory tests will fuel the growth of the market in the coming years.   The rising shift towards automated testing systems will drive the growth of the market during the forecast period.  The covid 19 pandemic had a positive impact on the growth prospects of the market.

 

Trends Influencing the Growth of the Global Clinical Diagnostic Market

Rise of chronic diseases

The increasing aging population, adoption of sedentary lifestyles, and rapid urbanization have led to a significant rise in obesity rates and the occurrence of medical disorders like diabetes, cancer, blood pressure, etc.  The huge burden on healthcare systems is a major concern. Hence quick clinical diagnosis is the need of the hour for mitigating risks related to chronic cases. This will surge the growth of the clinical diagnostics market in the forthcoming years. Several medical screening tests and other testing kits are available which are minimally invasive, and easy to procure. The results are quick and less painful. It helps in detecting diseases early on by diagnosing potentially severe conditions beforehand. Moreover, they are beneficial in personalized medication as clinicians will be able to tailor the treatment as per the severity of the disease, estimated prognosis, recurrence, and adjusted therapy.

Point of care testing

The need for a shorter turnaround time for laboratory tests and the introduction of a wide variety of testing devices is driving the popularity of point-of-care testing. The testing and consultation take place at the same place and same time. POCT is highly effective for people in remote areas with inadequate access to specialized staff or a pathology testing center. The treatment outcome is better, rapid, and quicker. This will drive the growth of the clinical diagnostics market during the forecast period. The patient management levels are improved with economic benefits realized over a long period of time. Near-patient treatment for conditions like diabetes, infections, and cardiovascular disorders has become possible. Many diagnostic companies are working to enhance the sensitivity and specificity of devices so that the testing can be done on smaller samples. The technology is getting cost-effective, sophisticated, and miniaturized. For instance lab on a chip device and POC blood analyzers use fewer blood samples that can be deployed widely. Different testing kits are combined into a single platform for running tests on one sample. All the indicators for coagulation, blood gases, chemistries, electrolytes, and hematology are measured efficiently. 

Automated testing systems

The high demand for tests and shortage of labor is pushing laboratories to integrate automation tools to manage the entire workflow systems. Automatic equipment performs many of the measurements while reducing human intervention. Test output increases significantly as the analysis happens at a greater scale. Robotic processes avoid dropping sensitive equipment like test tubes, and pipettes. The samples are not contaminated. Repetitive processes like scanning barcodes and standardization are optimized so that the onsite staff can focus more on other essential tasks. This will fuel the growth of the clinical diagnostics market in the forthcoming years. Lab machinery can be dangerous and cause accidents due to negligence. Automation avoids the exposure of workers to hazardous environments. This leads to accurate test results and better diagnostic quality. 

Covid 19 impact

The rapid surge of the pandemic across the globe has forced government authorities and hospital staff to expand the existing capacity of laboratories for quick testing, sampling, and detection of cases. Rapid testing kits have been developed that are cheaper and provide results within minutes without the need for any specialized skills to use them. Self-monitoring is also possible. This will boost the growth of the clinical diagnostics market during the forecast period. A close monitoring of the disease and daily epidemiological study are necessary for containing the spread of the virus. Clinical microbiology labs have started implementing routine biological tests. Several testing platforms have been set up to prevent logistical delays. 

Clinical Diagnostic Market Share Analysis

Based on type, the instruments segment will grow the highest in the clinical diagnostics market share due to growing public-private partnerships for expanding the laboratory infrastructure. Also, key players are introducing innovative testing kits to deal with the burden of patients suffering from chronic diseases.

Based on application, the hospital segment will grow the highest due to the demand for diagnostic tools and laboratory equipment in hospitals and the growing government push for modern testing tools and instruments. 

Based on region, North America will witness considerable growth due to rising awareness levels, cost-effective diagnostic tools, well-established healthcare infrastructure, and an increasingly aging population. While Asia-Pacific will grow the fastest due to the opportunity to meet the unmet clinical testing needs in emerging economies. 

By Proudct Type 

• Instruments
• Reagents
• Others

By Application 

• Hospital
• Clinic
• Others

Key Companies

• Siemens Healthcare
• Sonic Healthcare
• Charles River Laboratories
• Quest Diagnostics
• Bioscientia Healthcare
• Bio-Reference Laboratories
• ARUP Laboratories
• Abbott Laboratories
• Labco
• Healthscope
• Laboratory Corporation Of America Holdings
• Qiagen
• Genoptix Medical Laboratory
• Genzyme
• Clarient

By Region

• North America
• United States
• Canada
• Europe
• Germany
• France
• UK
• Italy
• Russia
• Nordic Countries
• Rest of Europe
• Asia-Pacific
• China
• Japan
• South Korea
• Southeast Asia
• India
• Australia
• Rest of Asia
• Latin America
• Mexico
• Brazil
• Rest of Latin America
• Middle East & Africa
• Turkey
• Saudi Arabia
• UAE
• Rest of MEA

Scope of Clinical Diagnostics Market Report