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, worldwide clinical laboratory market was worth USD 23.9 billion in the year 2020 and expected to grow at a substantial rate through 2026.

The major growth drivers of global clinical laboratory market are the rise in case of chronic diseases and increasing requirement for rapid diagnostic tests. Moreover, the incorporation of technologically developed solutions like microarrays, biochips, and companion diagnostics has aided early detection of ailments, which along with rising healthcare expenses are augmenting the industry outlook. 

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On top of that, medical advancements have led to reduction in costs and enhanced productivity. These solutions provide clinicians with maximal effectiveness and minimal errors. These factors, alongside strict adherence to international standards to promote automation & interoperability are impelling the industry growth.  

Talking about the by test spectrum, worldwide clinical laboratory marketplace is segmented into immunoassay and clinical chemistry. Moving on to end-user scope, the industry can be classified into clinical-based laboratories, reference laboratories, independent laboratories, hospital-based laboratories, and others.

As per the reports, North America had the major market share in 2020 and is anticipated to maintain the same during 2021-2026, with the United States leading the path, due to the influence of major companies established in the region.

Parallelly, Asia Pacific market is also expected to grow at a significant rate through 2026, owing to the rising unmet medical requirements, multiplying scientific research, and economic progression in the regional nations. Notably, China and India are upcoming hubs for clinical testing & service providers, which will add to the regional market share.

The topmost players in global clinical laboratory industry include Eurofins Scientific, Labcorp, OPKO Health, Inc., SGS S.A., Ortho Clinical Diagnostics, Quest Diagnostics, Sartorius AG, QIAGEN, Charles River Laboratories International, Inc., and Abbott Laboratories.