Market Snapshot:
Diagnostic tests are usually carried out in private or public laboratories equipped with suitable and sometimes expensive instruments and staffed with trained and qualified personnel to carry out the tests. The most common concern of governments in all nations affected by Covid-19 is the intolerable need to screen and test a large number of patients for possible Sars-Cov-2 infections. As a result, most of them face significant bottlenecks in the delivery of diagnostic kits for testing for the virus. Diagnostic virology companies are currently under immense pressure so as to provide reliable test kits, as well as demand in-vitro or point-of-care test capacities from the laboratories that are present in a variety of countries is increasing. The growth of this market is primarily because of the fact that there is an increasing global spread of infectious diseases, also the shift of focus from centralized laboratories to decentralized point-of-care tests, as well as the increased funding of the research into the diagnosis of infectious diseases.
Highlights from Diagnostic Tests Market Study
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The key Players profiled in the report are Abbott Laboratories (United States), ARUP Laboratories (United States), OPKO Health, Inc. (United States), Bioscientia Institut für Medizinische Diagnostik GmbH (Germany), Charles River Laboratories (United States), Fresenius Medical Care (Germany), QIAGEN (Germany), NeoGenomics Laboratories, Inc. (United States), Genoptix, Inc. (United States), Healthscope Ltd. (Australia) and Labco (South Africa). Additionally, other players that are part of this comprehensive study are Laboratory Corporation of America Holdings (LabCorp) (United States), Quest Diagnostics (United States), Siemens Healthcare Private Limited (India) and Tulip Diagnostics (P) Ltd. (India).
Geographic Breakdown and Segment Analysis
The Global Diagnostic Tests market presents a comprehensive analysis of the Diagnostic Tests market by product type (CBC, HGB/HCT, BMP, BUN Creatinine, Electrolyte Testing, HbA1c, CMP, Liver Panel, Renal Panel and Lipid Panel), by end-user/application (Central Laboratories and Primary Clinics), and by geography (North America, South America, Europe, Asia-Pacific and MEA) along with country level break-up. This section of our report presents a realistic picture of the Global Diagnostic Tests industry. Investors and Players can easily understand the inherent opportunities and challenges for their products in geographical region of interest.
For instance, while the holds majority of market share of the Diagnostic Tests market
Analyst at AMA have segmented the market study of Global Diagnostic Tests market by Type, Application and Region.
Influencing Trend:
The Rising Awareness of the Necessity of Regular Body Profiling Among Healthcare Professionals and Patients, Growing Awareness about Laboratory Tests in Clinics among Patients and Physicians and Increasing Awareness about the Prevalence of Cardiovascular Disorders and Diabetes
Market Growth Drivers:
Increasing Prevalence of Chronic Diseases and Rising Awareness among Health-Conscious Population, Increasing Geriatric Population and Growing Investments in Diagnosing Target Diseases Such As Cardiovascular Disorders, Tuberculosis, and Diabetes
Challenges:
Inadequate Reimbursement and Rising Healthcare Costs
Restraints:
Shortage of Reagents
Opportunities:
Growing Penetration of Advanced Diagnostic Techniques and Positive Economic Growth, And Increasing Avenues of Scientific Research
Market Developments Activities:
In February 2024, Diagnostic and preventive healthcare service provider Thyrocare announced on Monday the acquisition of a 100 per cent stake in Chennai-based Think Health Diagnostics for an undisclosed sum. The share purchase agreement was finalised on February 1, 2024, marking Thyrocare's entry into the domain of ECG services at home.
In August 2023, The service has been developed and launched by Newfoundland, a specialist in at-home diagnostic tests and will allow users to book an appointment with a registered GP via Doctor Call, a specialist in virtual and at-home GP appointments.
The companies are exploring the market by adopting expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions across the globe to avail of competitive advantage through combined collaborations.
Key Target Audience
Providers of Diagnostic Tests, Commercial Research & Development (R&D) Institutions, Government Organizations, Research Organizations and Healthcare Industry