Medical and diagnostic laboratories perform tests on
clinical specimens to gain insights and information on patients' health
conditions. Tests performed on the clinical specimens’ aid in the diagnosis,
treatment, and prevention of diseases. These laboratories are distinct from the
medical research laboratories involved in development of new drugs and
treatments. The medical and diagnostic laboratory services industry comprises
of establishments primarily engaged in the detection and prevention of disease.
The major reason why the global
medical and diagnostic laboratory services market is valued at $201 billion in
2017 is the increase in lifestyle diseases which further increased the demand
for tests to diagnose these diseases.
The global medical and diagnostic
laboratory services market in The Business Research Company’s report is
segmented into medical laboratories and diagnostic imaging centers. While the
first segment accounts for almost 65% of the market share, the remaining is
attributed to the diagnostic imaging centers segment.
Sample report:
The USA was the largest country
in the medical and diagnostic laboratory services market in 2017, accounting
for almost one-fourth of the market share. This was the result of increase in aging
population in the country. The USA was followed by China and India.
Laboratory Corporation of America
was the largest player in the medical and diagnostic laboratory services
market, followed by Quest Diagnostics, Inc. and Sonic Healthcare Limited. Laboratory
Corporation of America is a healthcare diagnostics company engaged in providing
comprehensive clinical laboratory services and end-to-end drug development
support. Laboratory Corporation of America is headquartered in North Carolina,
USA.
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