What Fueled The Previous Growth In The Clinical Diagnostics Market?
The clinical diagnostics market has seen considerable growth due to a variety of factors.
• The clinical diagnostics market has expanded significantly in recent years. It is expected to grow from $76.27 billion in 2024 to $81.91 billion in 2025, reflecting a compound annual growth rate (CAGR) of 7.4%.
This growth is driven by the increasing incidence of chronic diseases, the rise in point-of-care diagnostic product usage, the steady increase in patient numbers, government funding, the growing demand for personalized medicine, and the aging population.
What Is The Expected Growth In The Clinical Diagnostics Market Size Evolve over the Forecast Period?
The clinical diagnostics market is expected to maintain its strong growth trajectory in upcoming years.
• The clinical diagnostics market is expected to reach $108.58 billion by 2029 at a 7.3% CAGR. Growth is driven by the demand for early disease detection, expanding healthcare infrastructure, and rising investments in research and development. Trends include advancements in digital pathology, AI, wearable devices, and telemedicine.
What Main Forces Are Fueling Expansion In The Clinical Diagnostics Market?
The increasing incidence of chronic diseases is expected to propel the clinical diagnostics market. Chronic diseases, which require ongoing medical attention, are rising due to factors like unhealthy lifestyles and aging populations. Clinical diagnostics enable accurate diagnosis and treatment of chronic conditions. The National Center for Biotechnology Information forecasts that the number of people aged 50 and older with chronic illnesses will nearly double by 2050.
What Are The Primary Segments In The Global Clinical Diagnostics Market?
The clinical diagnostics market covered in this report is segmented –
1) By Test: Lab Test, Imaging Test, Other Tests
2) By Product: Instruments, Reagents, Other Products
3) By End User: Hospital Laboratory, Diagnostic Laboratory, Point-Of-Care Testing, Other End Users
Subsegments
1) By Lab Test: Blood Tests, Urine Tests, Genetic Tests, Biopsy And Cytology Tests
2) By Imaging Test: X-Ray, Mri (Magnetic Resonance Imaging), Ct Scan (Computed Tomography), Ultrasound, Pet Scan (Positron Emission Tomography)
3) By Other Tests: Molecular Diagnostics, Point-Of-Care Tests, Pregnancy Tests, Allergy Tests
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How Are New Trends Impacting The Size Of The Clinical Diagnostics Market?
Companies in the clinical diagnostics market are focusing on innovative products like advanced liquid biopsy assays for comprehensive genomic profiling of solid tumors. For example, in November 2023, Illumina Inc. introduced TruSight Oncology 500 ctDNA v2, an assay that detects genetic mutations in tumors through blood samples, helping to monitor tumor dynamics and personalize cancer treatment.
Who Are the Key Players In The Clinical Diagnostics Market?
Major companies operating in the clinical diagnostics market are:
• Siemens Healthineers
• F. Hoffmann-La Roche AG
• Thermo Fisher Scientific Inc.
• Abbott Laboratories
• Danaher Corporation
• FUJIFILM Corporation
• Becton
• Dickinson and Company
• Laboratory Corporation of America Holdings
• Quest Diagnostics Incorporated
• Grifols S.A.
• Sonic Healthcare Limited
• Hologic Inc.
• Illumina Inc.
• PerkinElmer Inc.
• bioMérieux S.A.
• Sysmex Corporation
• Bio-Rad Laboratories Inc.
• Bruker Corporation
• QIAGEN N.V.
• Ortho Clinical Diagnostics
• BioReference Laboratories Inc.
• NeoGenomics Laboratories Inc.
What Is The Most Dominant Region In The Clinical Diagnostics Market?
North America was the largest region in the clinical diagnostics market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the clinical diagnostics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
