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 medical and diagnostic laboratory services market report forecasts the medical and diagnostic laboratory services market size to grow to $240.86 Billion by 2027, with a CAGR (compound annual growth rate) of 7%.

Learn More On The Medical And Diagnostic Laboratory Services Market Report 2023 – https://www.thebusinessresearchcompany.com/report/medical-and-diagnostic-laboratory-services-global-market

Medical And Diagnostic Laboratory Services Market Size Forecast
The global medical and diagnostic laboratory services market is expected to grow from $169.87 billion in 2022 to $183.84 billion in 2023 at a compound annual growth rate (CAGR) of 8.2%. 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 medical and diagnostic laboratory services market is expected to grow to $240.86 billion in 2027 at a CAGR of 7.0%.

North America held the largest medical and diagnostic laboratory services market share.

Key Medical And Diagnostic Laboratory Services Market Driver ­– Rise In Sedentary Jobs, Busy Lifestyles, And Changing Consumer Preferences
According to the World Health Organization, chronic disease prevalence rose by 57% globally, in 2020. Tests to diagnose these diseases include HbA1c tests for monitoring diabetes, biopsies, tumor marker tests, bone scans, MRI and CT scans for diagnosis of various cancers, electrocardiograms, chest X-rays, cardiac CT scans, and stress tests for detection of cardiovascular diseases. The increase in the prevalence of lifestyle diseases will increase the demand for tests to diagnose these diseases and thus will drive the medical and diagnostic laboratory services market during the forecast period.

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Key Medical And Diagnostic Laboratory Services Market Trend – Adopting Biomarkers
Medical and diagnostic laboratories are using biomarkers to measure health parameters associated with individual wellness. The health and well-being of individuals can be measured by using biomarkers to assess factors behind sleep disorders and symptoms of stress. Biomarkers such as cortisol, testosterone, and secretory IgA can indicate changes in the immune system relating to physical and mental conditions. This can be used by physicians to know the causative factors behind such conditions. This is a premium service primarily targeted at wealthy individuals and senior employees of corporations.

Medical And Diagnostic Laboratory Services Market Segment
1) By Type: Diagnostic Imaging Centers, Medical Laboratory Services
2) By Application: Cardiology, Oncology, Neurology, Orthopedics, Gastroenterology, Gynecology, Other Applications
3) By End User Gender: Male, Female
4) By Type of Expenditure: Public, Private

Subsegments Covered: Computer Tomography (CT-Scan) Centers, Medical Radiological Laboratories, Dental or Medical X-Ray Laboratories, Ultrasound Imaging Centers, Magnetic Resonance Imaging (MRI) Centers

Medical And Diagnostic Laboratory Services Market Major Players and Strategies
Major players in the medical and diagnostic laboratory services market are Laboratory Corporation of America, Eurofins, Quest Diagnostics Incorporated, Sonic Healthcare Limited, Kaiser Permanente, RadNet, OPKO Health, Myriad Genetics, Charles River Laboratories, Inc., and NeoGenomics Laboratories, Inc.

The Medical And Diagnostic Laboratory Services Global Market Report 2023 covers regional data on medical and diagnostic laboratory services market size, medical and diagnostic laboratory services market trends and drivers, opportunities, strategies, and medical and diagnostic laboratory services market competitor analysis. The countries covered in the medical and diagnostic laboratory services market report are Argentina, Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, USA, Venezuela, and Vietnam, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Medical and diagnostic laboratory services are services that provide diagnostics tests for various diseases. The tests are used for detecting if the person has encountered the disease. Medical and diagnostic laboratory services makes it possible to deliver prompt, affordable, and high-quality diagnostic services in secure settings.

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