Diagnostic Labs Market Overview
Diagnostic laboratory is a facility which is equipped with reagents, apparatus for performing diagnostic test and for detecting human infection. Rising prevalence of diseases has become the major factor in global diagnostic labs market growth. Rise in healthcare industries has driven the market growth. Technological advancement in diagnostic equipment has also given rise in market growth. In diagnostic labs various types of test are performed for identifying disease, condition of a patient. Diagnostic test are performed on biological samples like blood, urine, tissues, etc. Diagnostic test help in detecting, monitoring infectious disease, autoimmune disease and others. Rapid test kits has also driven the market growth. Rising prevalence of chronic diseases has given rise in demand for healthcare systems. Diagnostic labs play an important role in identification of disease and patient condition, which help doctors for giving further treatment to patients. Diagnostic labs help in accurate diagnosis of disease and medical conditions of patients. After diagnosis doctor provides treatment for disease. Rise in diagnosis of disease has boosts the market growth. Growing technological advancement will shape the future of market growth. Diagnostic testing help in quick and accurate identification of problems caused to patient. Treating diseases has become more efficient and effective due to diagnostic laboratories.
Increase in allergic diseases has also become the major factor in market growth. Allergic diseases is growing widely. Number of allergic test are used in diagnosis of allergic diseases. Allergy is the medical condition which makes an individual feel ill when breathe something, eat, or touch. It occurs when immune system is reacted to foreign substance like bee venom, pollen, food, pet, etc. Allergy symptoms are depended on involved substance which affect airways, nasal passages, sinuses, digestive system and skin. Watery, red, swollen eyes, runny & stuffy nose, sneezing, itching of nose, rashes, stomach cramps, hives are the symptoms of allergic reactions. However, in 2022 according to data obtained by National Center for Health Statistics for U.S. determined 19.2 million number of adults aged 18 and above diagnosed with hay fever in past 12 months and 7.7% people diagnosed with hay fever in past 12 months. However, rising prevalence of diseases like allergic, cancer and chronic disease has given positive impact on Diagnostic Labs Market growth.
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Attributes |
Details |
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Global Diagnostic Labs Market Value (2022) |
US$ 354.3Bn |
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Global Diagnostic Labs Market Projected Value (2032) |
US$ 919.4Bn |
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Global Diagnostic Labs Market CAGR (2022 – 2032) |
9.4% |
Diagnostic Labs Market Dynamics
Rising prevalence of chronic diseases
Rising prevalence of chronic disease has become the major factor in Global Diagnostic Labs market growth. Growing number of chronic diseases has driven the target market growth. Urbanization has given rise in consumption of western food, processed food, frozen packed foods, which are unhealthy and affect the health in human being, Eating processed and unhealthy food, lack of exercise affect the health causing chronic disease like heart disease, diabetes, obesity, high blood pressure, gastrointestinal diseases, etc. For instance, in 2022, according to National Institute of Diabetes and Digestive and Kidney Diseases, between 60 million to 70 million Americans are suffering from gastrointestinal disorders which has led to 250,000 deaths each year. However, rising prevalence of chronic diseases has fueled the target market growth.
Rising incidence of allergic diseases
Rising allergic conditions in human being has given rise in awareness for testing and diagnosing allergies which has propel the growth in Global Diagnostics Labs market. Weak immune system causes allergies. Deficiency of vitamin D has increased throughout the world due to avoidance of sunlight and use of sunscreen. Kids are not being exposed to germs which train their immune system to tell difference between harmful irritants and harmless irritants. Rise in industrialization has increased release of harmful gases which causes air pollution. Air pollution has led to respiratory diseases like allergic rhinitis, asthma. In industrialized areas prevalence of allergic rhinitis is increasing. In industrialized areas fossil fuel combustion is increased which has led to increase in nitrogen oxide, particulate matter, carbon dioxide etc. For instance, by (PMC), the study in Taiwan determines that around 32,143 Taiwanese school children indicated persistent exposure to carbon dioxide, sulphur oxide, nitrogen oxide released by industries may increase incidence of allergic rhinitis. Air pollutants caused by industrialization plays role in development of allergic diseases. However, rising allergic diseases has enhanced the market growth.
Restrains:
Diagnostic lab is an essential component of healthcare system. Some lab services system remains weak because of several factors such as, shortage of training, lack of technical skills, shortage of resources, poor management, lack of quality assurance program, shortage of equipment, etc. Poor quality lab services and burden of test due to prevalence of pandemics may result in producing wrong data due to misdiagnosis which may restrain the target market growth.
Diagnostic Labs Market Segmentation
Global Diagnostic Labs Market is segmented based on lab type, testing services, disease, revenue source, and region.
Lab Type Insight
On the basis of Lab Type Global Diagnostic Labs Market is segmented into Single/Independent Laboratories, Hospital-based Labs, Physician Office Labs, and Others. Hospital-based Labs has dominated the target market growth due to high volume of patient and high test demand.
Testing Services Insights
On the basis of Testing Services Global Diagnostic Labs Market is segmented into Physiological Function Testing, General & Clinical Testing, Esoteric Testing, Specialized Testing, Non-invasive Prenatal Testing, COVID-19 Testing, and Others. COVID-19 Testing has dominated the target market growth due to pandemic which causes rapid growth in infected cases.
Disease Insights
On the basis of Disease Global Diagnostic Labs Market is segmented into Cardiology, Oncology, Neurology, Orthopedics, Gastroenterology, Gynecology, Odontology, and others. Oncology has dominated the target market growth due to rising prevalence of cancer diseases cause by unhealthy lifestyle like consumption of highly processed food, sedentary lifestyle, alcohol consumption, etc.
Revenue Source
On the basis of Revenue Source Global Diagnostic Labs Market is segmented into Healthcare Plan, Out-of-Pocket, Public System. Healthcare plan has dominated the target market growth because it offers coverage for various types of ailments & surgeries.
Regional Insights:
Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.
On region the Global Diagnostic Labs Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The North America market is estimated to witness a significantly high revenue share over the forecast period, owing to growing population, especially in countries such as Europe and Asia Pacific, and technological advancements. Moreover, rising prevalence of chronic diseases, cancer diseases, presence of major key players, technological advancement, rising research & development activities, robust healthcare infrastructure, high disposable income, is anticipated to increase demand for Global Diagnostic Labs in the region.
Report Scope:
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Attribute |
Details |
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Base year for estimation |
2022 |
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Forecast period |
2022 – 2032 |
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Market representation |
Revenue in USD Billion & CAGR from 2022 to 2032 |
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Market Segmentation |
By Lab Type - Single/Independent Laboratories, Hospital-based Labs, Physician Office Labs, and others By Testing Services - Physiological Function Testing, General & Clinical Testing, Esoteric Testing, Specialized Testing, Non-invasive Prenatal Testing, COVID-19 Testing, and Others By Disease - Cardiology, Oncology, Neurology, Orthopedics, Gastroenterology, Gynecology, Odontology, and others By Revenue Source - Healthcare Plan, Out-of-Pocket, Public System |
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Regional scope |
North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa |
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Report coverage |
Revenue forecast, company share, competitive landscape, growth factors, and trends |
Segments Covered in the Report:
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2022 to 2032. For the purpose of this study, has segmented the Global Diagnostic Labs Market report based on lab type, testing services, disease, revenue source, and region:
Global Diagnostic Labs Market, By Lab Type:
- Single/Independent Laboratories
- Hospital-based Labs
- Physician Office Labs
- Others
Global Diagnostic Labs Market, By Testing Services:
- Physiological Function Testing:
- ECG
- X-ray
- Endoscopy
- CT
- MRI
- Others
- General & Clinical Testing
- Esoteric Testing
- Specialized Testing
- Non-invasive Prenatal Testing
- COVID-19 Testing
- Others
Global Diagnostic Labs Market, By Disease:
- Cardiology
- Oncology
- Neurology
- Orthopedics
- Gastroenterology
- Gynecology
- Odontology
- Others
Global Diagnostic Labs Market, By Revenue Source:
- Healthcare Plan
- Out-of-Pocket
- Public System
Global Diagnostic Labs Market, By Region:
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- North America
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- U.S.
- Canada
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- Europe
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- Germany
- UK
- France
- Russia
- Italy
- Rest of Europe
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- Asia Pacific
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- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
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- Latin America
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- Brazil
- Mexico
- Rest of Latin America
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- Middle East & Africa
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- GCC
- Israel
- South Africa
- Rest of Middle East & Africa
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- North America
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Recent Development:
- In July 2022, Orange Health Diagnostic Lab is launched in New Delhi. Orange Health Diagnostic Lab is NABL accredited labs. With this launch of new lab, customers across the NCR region which includes, Noida, Gurgaon, Delhi, and Ghaziabad will able to avail wide range of diagnostic services in 60 minutes from comfort of their homes, and report will be available in six hours. New lab will offer molecular biology, serology, Covid RT-PCR testing, flow cytometry and hematology services.
- In May 2022, Neuberg Diagnostic has launched new lab in Gurugram with 10 express diagnostic labs and 100 touchpoints across Haryana. New lab will offer wide variety of test and will able to process about 1000 samples per day and also provides results within given turnaround time.
- In May 2022, PAMM Foundation has outsourced its laboratory activities for pathology and medical microbiology to Eurofins Clinical Diagnostics Netherlands. Eurofins has announced that it has signed an agreement successfully with PAAM laboratories. The agreement has included a commitment by Eurofins for investing in laboratory, with new innovation, research & development, employee development and job security.
- In March 2022, Mylab Discovery Solutions has announced that it is going to launch routine lab diagnostic testing kits and reagent business. This new launch will include, kits and devices for biochemistry, immunology and haematology. The Mylab company will help in addressing more than 90% of needs to small & medium size labs by entry in new business segments.
Diagnostic Labs Market Key Players
The key players operating the Global Diagnostic Labs Market includes,
- Eurofins Scientific SE
Eurofins Scientific SE is founded in 1987. Eurofins Scientific is a public company which is headquartered in Luxembourg. Eurofins Scientific is a French group company which laboratory testing and analysis services to food, environmental, pharmaceutical, consumer products and other industries.
- Quest Diagnostics Inc.,
Quest Diagnostics Inc., is founded in 1967. Quest Diagnostics is a public company which is headquartered in New Jersey, U.S. Quest Diagnostics is an American clinical laboratory which provides services like molecular diagnostics, medical testing, clinical chemistry for infectious disease, cancer, neurological disease, cardiovascular disease, etc.
- Exact Sciences Corp.
Exact Sciences Corp. is founded in 1995. Exact Sciences is a public company which is headquartered in Wisconsin, U.S. Exact Sciences is a molecular diagnostic company which is specialized in detecting early stages of cancer. Exact Sciences offer product like Cologuard, Oncotype MAP, and Oncotype DX.
- DASA Labs
DASA Labs, (Diagnosticos da America S.A.), is founded in 2003. DASA is headquartered in Bareuri, Brazil. DASA offers medical diagnosis. DASA operates advertising, food testing unit, research entitles, human resources services, etc.
- Laboratory Corporation of America Holdings
Laboratory Corporation of America Holdings, is commonly known as Labcorp which is founded in 1978. Labcorp is a public company which is headquartered in North Carolina U.S. Labcorp offers clinical laboratory services such as oncology testing, genomic testing, HIV genotyping & phenotyping, etc.
- Sonic Healthcare Limited
Sonic Healthcare Limited., is founded in 1987. Sonic Healthcare is a public company which is headquartered in Sydney, New South Wales, Australia. Sonic Healthcare is largest laboratory in Australia and Europe. Sonic Healthcare offers laboratory/pathology medicine, imaging and radiology services.
- SYNLAB International GmbH
SYNLAB International GmbH, is founded in 2010. SYNLAB International is headquartered in Munich, Germany. SYNLAB International offer diagnostic services for veterinary & human medicine, pharmaceutical industries and environmental analysis.
- Kingmed Diagnostics
Kingmed Diagnostics is founded in 1994. Kingmed Diagnostics is a private company which is headquartered in Asia-Pacific regions. Kingmed Diagnostics is a leading independent clinical testing lab which develops & commercialize pathological, medical and genomic tests.
- BioReference Health, LLC.
BioReference Health is a part of OPKO Health, Inc., BioReference is headquartered in Elmwood Park, New Jersey. BioReference operates ten laboratory facilities all over the country and serves around 19 million patients annually. BioReference offers lab services in urology, oncology, and women’s health.
- Healius Limited
Healius Limited, is an Australian leading healthcare company. Healius offers quality-based, affordable, and accessible healthcare for Australians. Healius has expansive network of diagnostic imaging centers, pathology laboratories, and day hospitals. Healius offers specialty diagnostic services to customers.
Diagnostic Labs Market Company Profile
- Eurofins Scientific SE*
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Quest Diagnostics Inc.
- Exact Sciences Corp.
- DASA Labs
- Laboratory Corporation of America Holdings
- Sonic Healthcare Limited
- SYNLAB International GmbH
- Kingmed Diagnostics
- BioReference Health LLC.
- Healius Limited
“*” marked represents similar segmentation in other categories in the respective section
Diagnostic Labs Market Table of Contents
- Research Objective and Assumption
- Preface
- Research Objectives
- Study Scope
- Years Considered for the study
- Assumptions
- Abbreviations
- Research Methodology
- Research data
- Primary Data
- Primary Interviews
- Primary Breakdown
- Key data from Primary Sources
- Key Thickness Insights
- Secondary Data
- Major Secondary Sources
- Secondary Sources
- Market Estimation
- Top-Down Approach
- Approach for estimating Market Share by Top-Down Analysis (Supply Side)
- Bottom-Up Approach
- Approach for estimating market share by Bottom-up Analysis (Demand Side)
- Market Breakdown and Data Triangulation
- Research Assumptions
- Market Preview
- Executive Summary
- Key Findings—Global Outlook for medical carts Strategies
- Key Questions this Study will Answer
- Market Snippet, By Lab Type
- Market Snippet, By Testing Services
- Market Snippet, By Disease
- Market Snippet, By Revenue Source
- Market Snippet, By Region
- Opportunity Map Analysis
- Executive Summary—3 Big Predictions
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restrains
- Market Opportunities
- Market Trends
- DR Impact Analysis
- PEST Analysis
- Porter’s Five Forces Analysis
- Opportunity Orbit
- Market Investment Feasibility Index
- Macroeconomic Factor Analysis
- Market Dynamics
- Global Diagnostic Labs Market, By Lab Type
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), 2022 – 2032
- Y-o-Y Growth Analysis (%), 2022 – 2032
- Segment Trends
- Single/Independent Laboratories
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Hospital-based Labs
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Physician Office Labs
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Others
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Overview
- Global Diagnostic Labs Market, By Testing Services, 2022 – 2032, (US$ Bn)
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), 2022 – 2032
- Y-o-Y Growth Analysis (%), 2022 – 2032
- Segment Trends
- Physiological Function Testing (ECG, X-ray, Endoscopy, CT, MRI, others)
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- General & Clinical Testing
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Esoteric Testing
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Specialized Testing
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Non-invasive Prenatal Testing
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- COVID-19 Testing
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Others
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Overview
- Global Diagnostic Labs Market, By Disease, 2022 – 2032, (US$ Bn)
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), 2022 – 2032
- Y-o-Y Growth Analysis (%), 2022 – 2032
- Segment Trends
- Cardiology
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Oncology
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Neurology
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Orthopedics
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Gastroenterology
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Gynecology
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Odontology
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Others
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 203
- Overview
- Global Diagnostic Labs Market, By Revenue Source, 2022 – 2032, (US$ Bn)
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), 2022 – 2032
- Y-o-Y Growth Analysis (%), 2022 – 2032
- Segment Trends
- Healthcare Plan
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Out-of-Pocket
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Public System
- Overview
- Market Size and Forecast (US$ Bn), and Y-o-Y Growth (%), 2022 – 2032
- Overview
- Global Diagnostic Labs Market, By Region, 2022 – 2032, (US$ Bn)
- Overview
- Market Value and Forecast (US$ Bn), and Share Analysis (%), 2022 – 2032
- Y-o-Y Growth Analysis (%), 2022 – 2032
- Regional Trends
- North America
- Market Size and Forecast (US$ Bn), By Lab Type, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Testing Services, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Disease, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Revenue Source, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Country, 2022 – 2032
- U.S.
- Canada
- Europe
- Market Size and Forecast (US$ Bn), By Lab Type, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Testing Services, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Disease, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Revenue Source, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Country, 2022 – 2032
- UK
- France
- Germany
- Russia
- Italy
- Rest of Europe
- Asia Pacific
- Market Size and Forecast (US$ Bn), By Lab Type, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Testing Services, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Disease, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Revenue Source, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Country, 2022 – 2032
- India
- Japan
- South Korea
- China
- Rest of Asia Pacific
- Overview
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- Latin America
- Market Size and Forecast (US$ Bn), By Lab Type, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Testing Services, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Disease, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Revenue Source, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Country, 2022 – 2032
- Latin America
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- Brazil
- Mexico
- Rest of Latin America
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- Middle East & Africa
- Market Size and Forecast (US$ Bn), By Lab Type, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Testing Services, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Disease, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Revenue Source, 2022 – 2032
- Market Size and Forecast (US$ Bn), By Country, 2022 – 2032
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- GCC
- Israel
- South Africa
- Rest of Middle East
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- Competitive Landscape
- Heat Map Analysis
- Market Presence and Specificity Analysis
- Company Profiles
- Eurofins Scientific SE
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Quest Diagnostics Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Exact Sciences Corp.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- DASA Labs
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Laboratory Corporation of America Holdings
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Sonic Healthcare Limited
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- SYNLAB International GmbH
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Kingmed Diagnostics
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- BioReference Health LLC.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Healius Limited
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- The Last Word
- Future Impact
- About Us
- Contact
FAQs
The Diagnostic Labs Market is segmented into lab type, testing services, disease, revenue source, and region.
Diagnostic Labs Market is driven by factors like rising prevalence of chronic diseases, rising incidence of allergic diseases, rising prevalence of cancer diseases and rate of urbanization, and technological advancement.
By region, the Diagnostic Labs market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The North America market is estimated to witness a significantly high revenue share over the forecast period, owing to growing population, especially in countries such as Europe and Asia Pacific, and technological advancements.
The key players operating the Diagnostic Labs Market includes, Eurofins Scientific SE, Quest Diagnostics Inc., Exact Sciences Corp., DASA Labs, Laboratory Corporation of America Holdings, Sonic Healthcare Limited, SYNLAB International GmbH, Kingmed Diagnostics, BioReference Health LLC., Healius Limited, and others.