About Clinical Laboratory Service
Clinical laboratory service is to detect and monitor the test results done on specimens from the body like urine or blood of the patient and provide them with appropriate treatment. These tests are done in hospitals, clinics and various independent laboratories. Automation has been the greatest trend for change in the global clinical laboratory service market. Clinical Laboratory Improvement (CLIA) and the Center for Medicare and Medicaid Services (CMS) have set some regulations regarding the mandatory certification before collecting any human sample for diagnostic service. The market is affected by the COVID-19 testing service as the number of patients is increasing worldwide the need for the clinical laboratory services is increasing.
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The competitive landscape of clinical laboratory services is characterized by a diverse array of providers offering diagnostic testing and analytical services to support healthcare professionals in patient care Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Clinical Laboratory Service market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Abbott (Alere) (United States), Siemens Healthineers (Germany), Bio-Reference Laboratories Inc. (United States), Davita Labs (United States), Genomic Health, Inc (United States), SYN Lab International GmbH (Germany), Enzo Biochem Inc (United States), Quest Diagnostics (United States), Myriad Genetics (United States), Spectra Laboratories (United States), NeoGenomics Laboratories Inc (United States) and Labcorp (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Miraca Group (Japan), Sonic Healthcare (Australia) and Arup Laboratories (United States).
AMA Research has segmented the market of Global Clinical Laboratory Service market by , Application (Hematology, Urinalysis, Microbiology, Immunochemistry and Others) and Region.
On the basis of geography, the market of Clinical Laboratory Service has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, Italy, France, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Tests, the sub-segment i.e. Blood Testing will boost the Clinical Laboratory Service market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. Hospital Laboratory will boost the Clinical Laboratory Service market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Adoption of Automation Technology Like Robots in Clinical Laboratory Service and Increasing Advancement in Testing Technologies
Market Growth Drivers:
Increasing Need for Testing and Clinical Care to Reduce both COVID-19 Transmission and Economic, Public Health, and Social Impacts and Rising Number of Patients Worldwide
Stringent Regulatory Norms Regarding Clinical Laboratory Service and Less Availability of Skilled Manpower in Laboratory might Hinder the Market Growth
Emerging Shortage of Resources in Clinical Laboratory Due to the Pandemic and Expenses Associated with Maintaining the Clinical Laboratory Service System
Continuous Research and Development for Effective Medicines Discovery, Growing Health-Related Awareness in Developing Economies and Increasing Government Spendings on Clinical Laboratory Service
Market Leaders and their expansionary development strategies
"On 5th March 2020, Quest Diagnostics announced it will launch a coronavirus (COVID-19) test service. The new test service aids the presumptive detection of nucleic acid in respiratory specimens of patients meeting CDC's clinical criteria for COVID-19 testing. With the new service, Quest Diagnostics will provide access to a COVID-19 test service for patients in the United States. The new test service will be provided as a laboratory-developed test, pending review by the FDA under emergency use authorization (EUA) which the company will submit per FDA guidance within 15 days of clinical testing. The test is a molecular-based assay that detects viral RNA in respiratory specimens."
On 24th March 2020, Enzo Biochem, Inc. announced its wholly-owned subsidiary, Enzo Clinical Labs, Inc., has expanded its screening services for COVID-19. Following the company’s March 6, 2020 announcement regarding the initiation of accepting specimens for novel Coronavirus (COVID-19) testing, Enzo is now directly collecting specimens at a drive-through facility by appointment in Enzo’s laboratory complex in Farmingdale, New York. This facility has been set up with support from local and state officials. As one of the first independent drive-through testing facilities on Long Island, NY, it is easily accessible for Nassau and Suffolk County residents and is now in operation. The goal of this testing site is to help the local community improve virus surveillance and reduce pressure on the regional hospital systems.
On Feb. 4, 2020, the Secretary of HHS determined that there is a public health emergency and that circumstances exist justifying the authorization of emergency use of in vitro diagnostics for the detection and/or diagnosis of the COVID-19 outbreak. The FDA has authorized one EUA for COVID-19 that is in use by the U.S. Centers for Disease Control and Prevention (CDC) and some public health labs across the country. The guidance issued describes a policy enabling laboratories to immediately use tests they developed and validated in order to achieve more rapid testing capacity in the U.S. Following the completion of their test validation, laboratories should communicate with the FDA, via email, in order to notify the agency that the test has been validated. Laboratories should submit a completed EUA request within 15 business days of notification."
Key Target Audience
Clinical Laboratory Service Providers, Clinical Laboratory Machines Distributors and Suppliers, Research and Development Laboratory, Financial Institutes and Venture Capital, Hospitals, Regulatory Bodies and Others
Key Finding and Research Objectives
Understanding policy and regulatory proposal, designing clear explanations of the stakes, potential winners and losers, and options for improvement. Identifying Untapped Geographic Market Territory with growth Potential of Clinical Laboratory Service Market. Opportunities and Gap Analysis by Key Business Segments. To categorize the impact of regulation on long-term market growth.
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.