The Laboratory Testing Services Global Market Report 2023, provides comprehensive information on the laboratory testing services market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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The global laboratory testing services market size is expected to grow from $98.18 billion in 2022 to $104.88 billion in 2023 at a compound annual growth rate (CAGR) of 6.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, and affecting many markets across the globe. The global laboratory testing services market size is expected to reach $130.03 billion in 2027 at a CAGR of 5.5%.
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Technological advancements have emerged as the key trend gaining popularity in the laboratory testing services market. Major companies operating in the laboratory testing services market are developing innovative technologies to strengthen their position in the market. For instance, in October 2022, Q2 Solutions, a subsidiary of IQVIA, a US-based clinical trial laboratory services company, launched its first self-collection safety lab panel. The unique features of the first self-collection safety lab panel involve innovative self-collection technology, patient-focused logistics, and industry-leading laboratory services combined. The first test panel is designed to measure the concentrations of specific proteins and enzymes in the blood to assist in the monitoring of liver function.
The laboratory testing services market is segmented:
1) By Test Type: Clinical Chemistry, Immunology, Cytology, Genetics, Microbiology, Hematology, Other Test Types
2) By Application: Bioanalytical And Lab Chemistry Services, Toxicology Testing Services, Cell And Gene Therapy Related Services, Preclinical And Clinical Trial Related Services, Drug Discovery And Development Related Services, Other Applications
3) By Service Provider: Stand-Alone Laboratories, Hospital-Based Laboratories, Contract Research Organizations, Other Service Providers
North America was the largest region in the laboratory testing services market in 2022.
The table of contents in TBRC’s laboratory testing services market report includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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The Business Research Company is a market intelligence firm that pioneers in market, company, and consumer research. TBRC’s specialist consultants are located globally and are experts in a wide range of industries that include healthcare, manufacturing, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries. Through the report businesses can gain a thorough understanding of the market’s size, growth rate, major drivers and leading players.
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