Emergence of Covid-19 to Offer Lucrative Growth Opportunities for Players in Clinical Laboratory Services Market



 Clinical laboratory services play a vital role in the ongoing care and treatment of patients. With advances in scientific research and other factors like economy and priorities, the scope of clinical laboratory services has grown. This service provides for the management and care of samples and related materials from diagnosis to treatment. This is an area of science that ensures that results are applicable to real-life situations and can be easily transferred to other medical fields for further study.

Market Dynamics 

High prevalence of chronic diseases is expected to propel the growth of the clinical laboratory services market. For instance, according to the study, “Global and regional diabetes prevalence estimates for 2019 and projections for 2030 and 2045: Results from the International Diabetes Federation Diabetes Atlas, 9th edition”, published in the journal Diabetes Research and Clinical Practice, in September 2019, 463 million people are expected to suffer from diabetes in 2019 worldwide and the number is expected to reach 578 million by 2030 and 700 million by 2045.

Moreover, the increasing geriatric population is also expected to aid in the growth of the global clinical laboratory services market. For instance, according to the United Nations Population Fund, the geriatric population in the Asia Pacific is expected to triple between 2010 and 2050 to reach 1.3 billion people by 2050.

The emergence of Covid-19 is expected to offer lucrative growth opportunities for players in the clinical laboratory services market. For instance, in December 2020, Albuquerque, U.S-based Southwest Labs announced to provide access to Covid-19 testing at the Albuquerque International Sunport through a partnership with the city.

Competitive Analysis 

Major players operating in the clinical laboratory services market include Abbott Laboratories, Laboratory Corporation of America Holdings (Labcorp), Bio-Reference Laboratories, ARUP Laboratories, Charles River Laboratories, Labco S.A., Genoptix Medical Laboratory, Quest Diagnostics, Inc., Healthscope Ltd., Spectra Laboratories, and Sonic Healthcare Limited.

Major players operating in the clinical laboratory services market are focused on adopting partnership strategies to enhance their market share. For instance, in December 2020, U.S-based Hackensack Meridian Health and Secaucus partnered with Quest Diagnostics whereby Quest will manage laboratory operations and perform reference testing for 11 Hackensack Meridian Health hospitals. Similarly, in December 2020, Q2 Solutions, a leading global clinical trial laboratory services organization, announced a partnership with Adaptive Biotechnologies, a pioneer and leader in immune-driven medicine, under which Q2 Solutions will offer its customers the immunoSEQ Assay, Adaptive’s next-generation sequencing (NGS) based immune sequencing solution, which is used to quantify adaptive immune receptors at high-throughput, leveraging the company’s new immune sequencing kit. 

Comments

Post a Comment

Popular posts from this blog

Astrum Has Expanded Its Presence In India Infrared Thermometer Market

Image
  The Infrared Thermometer market is witnessing the fastest growth in the Asia Pacific region and this can be accredited to the growing aging population in the region which is driving demand for healthcare services. Japan has the highest growing aging population in the country. According to the Statistics Bureau, Ministry of Internal Affairs and Communications, in 2019, the aged population (65 years old and over) was 35.89 million, constituting 28.4 percent of the total population (i.e., 1 in every 4 persons) and marking a record high in Japan. The rise in prevalence of infectious disease and increase in the demand for the product for newborns as children cannot hold the contact thermometer is playing a key role in the overall development of the infrared thermometer market . According to the World Health Organization, HIV, tuberculosis, malaria, neglected tropical diseases, and viral hepatitis affects billions of people around the world and causes more than 4 million deaths each year
Read more

The Global Meningococcal Vaccines Market Continues To Grow Owing To the Demand from Healthcare Care Sectors across the World to Prevent the Spread of the Diseases Especially In Children

Image
  Meningococcal vaccines prevent the contraction of meningococcal diseases, including meningitis caused by the bacteria called meningococcus aureus. An outbreak of meningococcal disease is usually followed by an onset of meningitis. Meningococcal meningitis can cause permanent damage to the brain or spinal cord in as little as 10 days, depending on the degree of infection and the natural immunity of the person. Since meningitis is usually associated with a fever and signs and symptoms of a serious illness, many parents prefer not to use the traditional treatments for their children such as meningitis or oral antibiotics. Instead, they often resort to various forms of therapeutic interventions that may even improve their chances of developing a positive outcome. Meningococcal vaccines are now available for meningococcal meningitis, as well as for men who have had other prior bouts of meningitis. Some vaccines used for these purposes are PPSV, Rallo, and Q fever type 1. These vaccines
Read more

Increasing Geriatric Population Is Driving the Growth of the Sexual Health Market

Image
       Sexual health is an important part of a person’s physical and mental health. According to the World Health Organization (WHO), sexual health requires a respectful and positive approach to sexual relationships and sexuality, as well as the possibility of having pleasurable and safe sexual experiences, free of coercion, violence, and discrimination. Sexual health leads to a healthy sex life without any sexually transmitted diseases, and to take preventive measures to avoid sexually transmitted infections. The elderly population (geriatric population) often suffer from one or more sexual disorders, such as premature (early) ejaculation, erectile dysfunctions, dyspareunia, and hypoactive sexual desire disorder, among others. Thus, with the increasing geriatric population worldwide, the prevalence/incidence of sexual disorders is also increasing, driving the growth of the sexual health market . According to WHO, the world's population aged 60 years and older is expected to tota
Read more