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 Market Study Report LLC, global clinical laboratory market had reached a valuation of USD 23.9 billion in 2020 and is likely to record consistent growth throughout the study period.
 

Increased pervasiveness of chronic conditions and lifestyle diseases, widespread adoption of early diagnostic tests, and technological developments are some of the key factors driving the growth of global clinical laboratory market.
 

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These technological breakthroughs has allowed to improve productivity while simultaneously reduce the overall costs. In addition to this, escalating healthcare expenditure and focus towards reducing risk of errors are propelling the overall market expansion.
 

Shifting preferences towards integrating automation and interoperability solutions in medical test centers are also adding traction to global clinical laboratory market size.
 

As per test type, the market is segmented into immunoassay and clinical chemistry. The end-user analysis comprises of reference laboratories, independent laboratories, clinical-based laboratories, hospital-based laboratories, and others.
 

Regionally, North America accounted for the largest share in global clinical laboratory market in 2020, with United States standing tall in terms of revenue hierarchy. This can be attributed to high concentration of leading companies, escalating healthcare expenditure, and rising prevalence of chronic conditions.
 

Asia-Pacific, on the other hand, is also likely to emerge as a key revenue generator for the industry participants. Factors such as growing unmet medical needs, rising R&D activities, and improving economic conditions are complementing the business dynamics in Asia-Pacific.
 

The competitive landscape of global clinical laboratory market is defined by companies such as Eurofins Scientific, Quest Diagnostics, Laboratory Corporation of America Holdings, Sartorius AG, OPKO Health Inc., QIAGEN, SGS S.A., Charles River Laboratories International Inc., Ortho Clinical Diagnostics, and Abbott Laboratories among others.