Clinical Diagnostic Market, By Test (Lipid Panel, Liver Panel, Renal Panel, Complete Blood Count, Electrolyte Testing, Infectious Disease Testing, and Other Tests), By Product (Instruments, Reagents, and Other Products), By End User (Hospital Laboratory, Diagnostic Laboratory, Point-of-Care Testing, and Other End Users), and By Geography (North America, Europe, Asia Pacific, Middle East and Africa, and Latin America)- Size, Share, Outlook, and Opportunity Analysis, 2022 - 2028

Published In : Jan 2023

Code : CMI5471

Pages :162

Formats :

Excel and PDF

Industry : Clinical Diagnostic

Clinical Diagnostic MarketSize and Trends

The global clinical diagnostic market was valued at US$ 74.03 Bn in 2021 and is forecast to reach a value of US$ 105.91 Bn by 2028 at a CAGR of 6.1% between 2022 and 2028. The global clinical diagnostic market is experiencing strong growth owing to the growing burden of infectious and chronic diseases and rise in usage of clinical diagnostic around the world. Moreover, outbreak of COVID-19 and growing geriatric population across the globe is expected to boost growth of the market. However, factors such as affordability for high-end molecular diagnostics and limitations associated with reimbursement scenario are expected to hamper the market growth.

Global Clinical Diagnostic Market Trends:

Increase in use of clinical diagnostic tests is a recent trend

The use of clinical diagnostic tests, such as lipid panel blood test, has increased worldwide owing to the increase in burden of cardiovascular diseases (CVDs). A lipid panel or lipid profile, a blood test, measures the amount of cholesterol and triglycerides in the blood. The lipid panel includes tests for total cholesterol, HDL cholesterol, LDL cholesterol, triglycerides, cholesterol/HDL ratio, and non-HDL cholesterol. This in turn is expected to continue over the forecast period, driving the growth of the global clinical diagnostic market.

Technological advancements is another market trend

The latest cutting-edge diagnostics technology is poised to change the industry’s testing paradigm through speed, efficiency, and scalability to help guide care for patients. There are also a variety of automated equipment found in clinical laboratories that are designed to improve the quality, throughput, and efficiency of laboratory testing. Moreover, players in the market also focusing on launching technologically advanced diagnostic products in the market. This in turn is also expected to continue over the forecast period, driving the market growth.