5 Key Insights On The Clinical Chemistry Market 2023
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
As per The Business Research Company’s Clinical Chemistry Global Market Report 2023, the clinical chemistry market is expected to show significant growth in the forecast period.
Key insights from the clinical chemistry market forecast include:
- Market Size
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 market size of global clinical chemistry is expected to grow to $17.48 billion in 2027 at a CAGR of 6.3%.
- Major Driver
Growing chronic disease rates propel clinical chemistry market. Chronic diseases last a year or more, require ongoing care, and limit daily activities. They are top global causes of death and disability, including diabetes, cancer, and heart disease. Clinical chemistry enhances illness detection and risk assessment, supporting initiatives like flu and infectious disease monitoring. In September 2020, an American Action Forum study reported rising chronic illness frequency and costs in the United States, with continued growth expected, costing about 19.6% of GDP annually. Hence, increased chronic disease prevalence drives clinical chemistry market growth.
View More On The Clinical Chemistry Market Report 2023 – https://www.thebusinessresearchcompany.com/report/clinical-chemistry-global-market-report
- Key Trend
Tech advances drive clinical chemistry market growth. Major firms adopt innovations for market strength. For example, in July 2021, Vanderbilt University’s Core Clinical Chemistry Lab launched a faster, higher-volume automated chemistry line, doubling daily test capacity.
- Largest Region
North America was the largest region in the chemical chemistry market in 2022.
- Major Players
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.
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Key Clinical Chemistry Market Segments
The global clinical chemistry market is segmented –
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
The Clinical Chemistry Global Market Report 2023 provides an in-depth analysis on the clinical chemistry market size, trends and drivers, opportunities, strategies, and companies 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.
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