Clinical Diagnostics Market

• The Clinical Diagnostics Market is experiencing increased product demand for several reasons, with one of the primary factors being the growing occurrence of various chronic diseases and the substantial demand for drug discovery related to these conditions.
• The leading Clinical Diagnostics Companies working in the market include BD, bioMérieux SA, Bio-Rad Laboratories, Inc., Danaher Corporation, Siemens AG, Hologic, Inc., Qiagen NV, Quest Diagnostics Inc., F. Hoffmann-La Roche Ltd., Thermo Fisher Scientific, Sysmex, Sonic Healthcare Ltd, Exact Sciences Corporation, NeoGenomics, Inc., BioReference Laboratories, Laboratory Corporation of America® Holdings, DiaSorin, PerkinElmer Inc., FUJIFILM Corporation, and others.

Clinical Diagnostics Market Size By Type (Products [Instruments, Kits & Reagents], Services), Test (Complete Blood Count (CBC), Metabolic Panel, Lipid Panel, Renal Panel, Liver Panel, Infectious Disease Testing, and Others), End-User (Hospitals, Pathology Labs, and Others), and Geography, is expected to expand at a significant CAGR till 2030 owing  to the growing cases of various chronic diseases & infectious diseases across the globe and rise in the integration of technological advancements in the product portfolio.

The global clinical diagnostics market was valued at USD 70.11 billion in 2023, growing at a CAGR of 7.02% during the forecast period from 2024 to 2030. The escalating demand for clinical diagnostics is primarily attributed to the rising burden of various chronic disorders such as liver disorder, blood disorder, and cancer among others. In addition, an increase in the adoption of point-of-care clinical diagnostic tests, rising strategic business activities for establishing new clinical diagnostic labs, worldwide, and growing technological advancement in the product portfolio, among others are expected to bolster the global clinical diagnostic market during the forecast period from 2024-2030.

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Clinical Diagnostics Market Dynamics:

The Clinical Diagnostics Market is gaining momentum at present owing to the surge in the cases of various chronic disorders such as cardiovascular disorder, diabetes, cancer, and others.  According to the International Diabetes Federation’s statistics published in the year 2021, an estimated 537 million adults (20-79 years) were living with diabetes in the same year. Moreover, the stats also projected diabetes cases to rise to 643 million by 2030 and 783 million by 2045.

Clinical diagnostic tests have a decisive impact on the early diagnosis of all kinds of diseases and further help in their proper management. For instance, the A1C test measures the average blood sugar level over the past 2 or 3 months. A test value below 5.7% is normal, between 5.7 and 6.4% indicates prediabetes, and 6.5% or higher indicates diabetes.

Furthermore, the rising cases of cancer across the globe are also likely to increase the demand for Clinical Diagnostics Market Size. Early diagnosis of cancer generally increases the chances of an improved treatment by focusing on detecting symptomatic patients as early as possible. For instance, according to the data published by the GLOBOCAN Observatory in the year 2020, approximately 19.3 million new cancer cases were reported across the globe in the same year. 

Additionally, the spike in infectious diseases such as viral diseases such as COVID-19, bacterial diseases, and fungal diseases, among others is also expected to raise the demand for clinical diagnosis, worldwide thereby increasing the market during the forecasted period. For instance, according to the statistic revealed by the World Health Organization (WHO) in the year 2021, tuberculosis (TB) is the 13th leading cause of death and the second-leading infectious killer after COVID-19. Moreover, the data also reported that in the year 2020, about 10 million people fell ill with tuberculosis (TB) worldwide. Hence, the growing burden of infectious diseases across the globe is likely to drive the growth of the clinical diagnostics market in the upcoming years.

However, the lack of skilled professionals leading to errors and the high cost associated with clinical diagnostic lab equipment are some of the factors likely to sluggish the Medical Diagnostics Market Growth.

Clinical Diagnostics Market Segment Analysis:

Clinical Diagnostics Market By Type (Product [Instruments, Kits & Reagents], Services), Test (Complete Blood Count (CBC), Metabolic Panel, Lipid Panel, Renal Panel, Liver Panel, Infectious Disease Testing, and Others), End-User (Hospitals, Pathology Labs, and Others), and Geography (North America, Europe, Asia-Pacific, and Rest of the World).

In the test segment of the Clinical Diagnostics market, the complete blood test (CBC) is expected to hold a significant market share in the year 2023. This can be ascribed to the advantageous offerings of the test. The CBC test involves the measurement of the number of red blood cells (RBC), white blood cells (WBC), and platelets which perform essential functions in the body. The determination of levels of these cells predicts the overall health condition of an individual.

It is part of a routine checkup and the most commonly performed test for getting a general idea regarding the patient’s condition. Based on CBC results, doctors may advise further tests or prescribe medications.

The test assist in diagnosing, monitoring, and screening for a wide range of diseases, conditions, disorders, and infections. It helps clinicians to rule out conditions, disorders, and diseases based on the test results.

It also allows to monitor how the body is affected by different medical treatments such as signs of medication side effects.

The person having symptoms such as bruising or bleeding, fatigue, dizziness or weakness, fever, nausea, vomiting, inflammation (swelling and irritation) anywhere in the body, joint pain, or problems with heart rate or blood pressure are advised to go for CBC test.

Thereby the above-mentioned factors are likely to propel the market for complete blood tests (CBC) in clinical diagnostics.

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North America is expected to dominate the overall Clinical Diagnostics Market Size

Among all the regions, North America is expected to dominate the Global Clinical Diagnostics Market Size in the year 2023 and is expected to do the same during the forecast period from 2024-2030.

This domination in the revenue generation is owing to the rising prevalence of chronic blood diseases such as infectious diseases, chronic disorders such as cancers, deficiency disorders, and others in the region. In addition, rising product approvals, growing focus on R&D activities by the key manufacturers, and rising government initiatives in the region are the factors responsible for the growth of the US clinical diagnostic market.

According to National Cancer Institute 2020, it was estimated that around 1,806,590 cancer cases were diagnosed in the year 2020 in the United States. Also, as per the same source prostate, lung, and colorectal cancer accounts for 43% of the cancer cases in men, and breast, lung, and colorectal make up 50% of cancer cases in women.

As per the American Thyroid Association 2019, around 20 million people in America have some form of thyroid disease, and an estimated 12 percent or more of American people will develop thyroid disease during their lifetime.

Furthermore, companies scaling up laboratory testing by launching new products would also increase the clinical diagnostic market in the country.

For instance, on May 04, 2021, Beckman Coulter, a clinical diagnostics leader, launched the DxA 5000 Fit, a workflow-automation solution designed to fit into medium-sized labs that run fewer than 5,000 tests a day.

Moreover, as per the US Department of Health and Human Services (HHS) press release in the year 2021, the US government had invested USD 650 million in rapid diagnostic testing in the latest action to increase access to tests.

Thus, all the above mentioned factors are likely to increase the market for clinical diagnostics in the region during the forthcoming years.

Key Clinical Diagnostics Companies In Medical Diagnostics Market:

Some of the key Clinical Diagnostics Companies operating in the market include Abbott, BD, bioMérieux SA, Bio-Rad Laboratories, Inc., Danaher Corporation, Siemens AG, Hologic, Inc., Qiagen NV, Quest Diagnostics Inc., F. Hoffmann-La Roche Ltd., Thermo Fisher Scientific, Sysmex, Sonic Healthcare Ltd, Exact Sciences Corporation, NeoGenomics, Inc., BioReference Laboratories, Laboratory Corporation of America® Holdings, DiaSorin, PerkinElmer Inc., FUJIFILM Corporation, and others.

Recent Developmental Activities in the Clinical Diagnostics Market: 

• In Jan 2025, InkSpace Imaging announced that the FDA cleared its next-generation 1.5 Tesla 24-channel MR coil for Siemens Healthineers Magnetom MRI scanners, aimed at improving patient experience and enhancing efficiency in MRI scans and clinical diagnosis.
• On July 26, 2021, Beckman Coulter, a global clinical diagnostics leader, entered into definitive agreements with Quidel Corporation to obtain all rights related to the manufacture, distribution, and sale of a BNP assay for Beckman Coulter analyzers.  Under the terms of the agreements, Quidel will continue to manufacture and supply certain components to Beckman Coulter related to the assay, and Beckman Coulter will exclusively manufacture and sell to customers the BNP assay currently sold as TRIAGE® BNP by Quidel, under the brand name Access BNP.
• On April 13, 2021, Ortho Clinical Diagnostics, one of the world’s largest in-vitro diagnostics companies received CE Marking for its VITROS® SARS-CoV-2 Antigen Test.
• On November 19, 2020, Bio-Rad was granted authorization to sell or import the Platelia SARS-CoV-2 Total Ab test for COVID-19 testing in Canada.

Key Takeaways from the Clinical Diagnostics Market Report Study

• Medical Diagnostics Market analysis for current market size (2023), and market forecast for 5 years (2024-2030)
• The effect of the COVID-19 pandemic on this market is significant. To capture and analyze suitable indicators, our experts are closely watching the Clinical Diagnostics market.
• Top key product/services/technology developments, mergers, acquisitions, partnerships, and joint ventures happened in the last 3 years
• Key companies are dominating the Global Clinical Diagnostics Market.
• Various opportunities are available for the other competitor in the Clinical Diagnostics Market space.
• What are the top-performing segments in 2023? How these segments will perform in 2030?
• Which are the top-performing regions and countries in the current market scenario?
• Which are the regions and countries where companies should have concentrated on opportunities for Clinical Diagnostics market growth in the coming future?

Target Audience who can be benefited from the Clinical Diagnostics Market Report Study

• Clinical Diagnostics providers
• Research organizations and consulting companies in Medical Diagnostics Market
• Clinical Diagnostics-related organizations, associations, forums, and other alliances
• Government and corporate offices in Diagnostic Market
• Start-up companies, venture capitalists, and private equity firms aiming in Medical Diagnostics Market
• Distributors and Traders in Clinical Diagnostics Market
• Various End-users want to know more about the Clinical Diagnostics Market and the latest technological developments in the Clinical Diagnostics market.

You may read related articles of the report:-

• Assessing the Major Growth and Ongoing Developments in the Clinical Diagnostics
• Biogen-Eisai's Aduhelm; Quidel acquires Ortho Clinical Diagnostics; Accutar Biotechnology’s AC0176; Boehringer’s Spesolimab

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