According to the research report titled ‘Global Clinical Laboratory Market - Analysis By Test, End User, By Region, By Country (2021 Edition): Market Insights and Forecast with impact of COVID-19 (2021-2026)’, available with MarketStudyReport, global clinical laboratory market was valued USD 23.9 billion in 2020 and is anticipated to witness remunerative growth during the forecast timeframe 2021-2026.
 

Expanding need for early disease diagnosis facilitated by emergence of accurate and technologically advanced devices such as companion diagnostics, biochips, and microarrays, are slated to boost global clinical laboratory market growth. Besides, increasing healthcare costs as a result of high prevalence chronic diseases are enhancing the industry outlook.
 

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Technological advancements paving way for enhanced productivity and lower costs coupled with adoption of automated solutions in clinical workflows which enables processing of more samples per unit of time will support the market expansion in the coming years.
 

With respect to end-user, hospital-based laboratories, clinical-based, independent laboratories, reference laboratories and others. Moreover, medical laboratory segment is anticipated to gain considerable traction, attributable to increasing number of lifestyle-related disorders and chronic illnesses, as well as outbreaks of infectious diseases across the world.
 

From a regional perspective, as per reports, worldwide clinical laboratory market size spread across North America (U.S., Canada), Europe (UK, France, Germany), Asia Pacific (China, Japan, India), and MEA (South Africa, Israel). North America accounted for significant portion of the market share in 2020 and is likely to continue developing in the forthcoming years, with the United States at the forefront. Strong presence of big corporations is supporting the regional industry expansion.
 

Asia Pacific is expected to grow considerably from 2021 to 2026, attributable to expanding scientific research and economic growth, as well as increasing unmet medical requirements in the region. Furthermore, experts cite that clinical testing and service companies are considering China and India as lucrative business hubs.
 

Based on competitive landscape, Eurofins Scientific SE, Quest Diagnostics Inc., Laboratory Corp. of America Holdings, Sartorius Stedim Biotech SA, Opko Health Inc., Qiagen NV, SGS S.A., Charles River Laboratories Intl. Inc., Abbott Laboratories, and Ortho Clinical Diagnostics are the among major contenders in global clinical laboratory industry.