Rising Demand for Biochemical Research Underpins Growth of Clinical Reference Laboratory Services Market

With each passing day, incidence of chronic disorders and cardiovascular diseases is rising rapidly. This, in turn, is creating opportunities for growth of the clinical reference laboratory services market.

Medical professionals are trying to provide cell specific treatment instead of only pharmaceutical based treatment. Cell based therapy aids to treat the disease from roots. In such case, details of genetic disorders are required.

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Further, advances in cytogenetic is another growth avenue for growth of clinical laboratory services market.

Microbiology domain has set of applications in the healthcare industry. The study of cytogenetic, tumor, and genomes has boosted demand rate within the global clinical reference laboratory services market. In addition, presence of a sound industry for clinical chemistry is pushing the market growth.

Clinical Chemistry Segment Accounts Maximum Share in the Market

In recent year, clinical chemistry segment accounted for maximum share in the global clinical reference laboratory services market. As per market analyst, the segment is anticipated to lead in coming years as well. Prominence of clinical chemistry segment is attributed to lack of skilled workforce and to reduce human errors while integrating automation. The integration is likely to contribute significantly to growth of the market.

The clinical reference laboratory services market is fragmented in nature. To strengthen foothold in the market, key players are consistently innovating and introducing new features. For example, Clinical Reference Laboratory Inc. is one of the key players in the clinical reference laboratory reference landscape. To gain high customer traction, it focuses on providing customized solution according to need of its customers.  Personalized medicines, insurability, and employability are some of the features that have facilitated the company to mark its presence across the market.

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Some of the leading players operating in the global clinical reference laboratory market include- Laboratory Corp. of America Holdings, SYNLAB Bondco Plc., Genomic Health Inc., Quest Diagnostics Inc., and OPKO Health Inc.