CLINICAL LABORATORY SERVICES MARKET ANALYSIS

The high upfront capital investment required for installation of sophisticated laboratory instruments can hamper the global clinical laboratory services market growth. Setting up a full-fledged clinical laboratory requires huge capital for procuring expensive equipment such as pathology analyzers, blood gas analyzers, DNA sequencing systems, immunoassay analyzers, flow cytometers, microarray equipment and other molecular diagnostics instruments. These instruments can cost anywhere between hundreds of thousands to millions of dollars, depending on their application and throughput. Especially for basic pathology tests, the development of high-throughput fully automated clinical chemistry and immunology analyzers have substantially increased the installation cost of starting a clinical laboratory in the recent years.

Market Opportunities: Adoption of automated lab instruments providing quicker results

Increasing adoption of automated lab instruments and technologies can offer growth opportunities for global clinical laboratory services market. Automated instruments can help labs to perform a high volume of complex tests accurately and reliably in a shorter period of time as compared to manual methods. This  improve turnaround times for test results, which is critical for timely clinical diagnosis and commencement of appropriate treatment. The ability to provide quicker results through automation addresses a key pain point for labs and clinicians. It allows for more efficient work flows and enables labs to handle rising test volumes due to growing prevalence of chronic and infectious diseases worldwide. With time being an important factor in critical care pathways, automated technologies help improve clinical outcomes. These also enhance the overall patient experience by expediting the diagnosis journey.