The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s clinical chemistry market report forecasts the clinical chemistry market size to grow to $17.48 Billion by 2027, with a CAGR (compound annual growth rate) of more than 6%.

Learn More On The Clinical Chemistry Market Report 2023 – https://www.thebusinessresearchcompany.com/report/clinical-chemistry-global-market-report

Clinical Chemistry Market Size Forecast
The global clinical chemistry market is expected to grow from $12.84 billion in 2022 to $13.7 billion in 2023 at a compound annual growth rate (CAGR) of 6.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The clinical chemistry market size is expected to grow to $17.48 billion in 2027 at a CAGR of 6.3%.

North America held the largest clinical chemistry market share, and Asia-Pacific was the fastest-growing region in 2022.

Key Clinical Chemistry Market Driver ­– Increase In Prevalence Of Chronic Diseases
For instance, in September 2020, according to a study report issued by American Action Forum, chronic illness frequency and expenses are increasing in the United States. Chronic illness is anticipated to continue increasing as the illness incidence among children and young people increases. Chronic illness is a significant healthcare issue since it costs USD 3.7 trillion annually, or about 19.6% of the GDP, and is rising. Therefore, the increasing prevalence of chronic diseases is driving the growth of the clinical chemistry market.

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Key Clinical Chemistry Market Trend – Technological Advancement
Major companies operating in the clinical chemistry sector are focused on adopting new technological solutions to strengthen their market position. For instance, in July 2021, Core Clinical Chemistry Lab, the medical centre od Vanderbilt University based in US, launched a faster, higher-volume automated chemistry line. This chemistry line doubled the daily capacity for routine, critical tests of patient blood samples’ electrolyte, protein, and enzyme levels.

Clinical Chemistry Market Segment
1) By Product: Analyzers, Reagents And Consumables
2) By Application: General Chemistry Test, Liver Function Test, Kidney Function Test, Urinalysis, Electrolyte Panel, Lipid Profile, Specialty Chemical Test, Other Applications
3) By End User: Hospitals, Diagnostic Or Pathology Centers, Ambulatory Surgery Centers, Other End Users

Clinical Chemistry Market Major Players and Strategies
Major players in the clinical chemistry market are Abbott Laboratories, F. Hoffmann-La Roche Ltd., ELITech Group, Beckman Coulter Inc., Thermo Fisher Scientific Inc., Siemens AG, Ortho Clinical Diagnostics, Diatron Mi Apac Private Limited, Nova Biomedical Corporation, Johnson & Johnson Services Inc., Alfa Wassermann Inc., HORIBA Ltd., Mindray Medical International Ltd., Randox Laboratories Ltd., and SYNLAB International GMBH.

In May 2021, Roche, a Switzerland-based company that deals in pharmaceuticals and diagnostics, acquired GenMark Diagnostics for USD 1.8 million. Through this acquisition, Roche will be able to broaden its line of molecular diagnostic products and add techniques that can quickly offer patients and healthcare professionals with information that can save their lives. In addition, Roche’s management of infectious diseases and antibiotic resistance would be improved by GenMark’s ePlex technologies. GenMark Diagnostics is a US-based provider of multiplex molecular diagnostic solutions with expertise in syndromic testing and clinical chemistry.

The Clinical Chemistry Global Market Report 2023 covers regional data on clinical chemistry market size, clinical chemistry market trends and drivers, opportunities, strategies, and clinical chemistry market competitor analysis. The countries covered in the clinical chemistry market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Clinical chemistry is a quantitative field of study that measures the concentrations of biologically significant chemicals, or analytes, in bodily fluids.

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