Clinical Laboratory Service Market Expected To Expand At A CAGR Of 4.7% From 2021 To 2028
Clinical Laboratory Service Industry Overview The global clinical laboratory service market size was valued at USD 200.3 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 4.7% from 2021 to 2028. The increasing burden of chronic diseases and growing demand for early diagnostic tests are expected to be high impact-rendering drivers for market growth. The introduction of accurate and technologically advanced products, such as companion diagnostics, biochips, and microarrays, has bolstered the demand for early disease detection. This is mainly due to increasing healthcare expenditure as a consequence of the growing prevalence of chronic diseases. Moreover, rapid technological advancements to enhance productivity and reduce costs are anticipated to boost the market for clinical laboratory services during the forecast period. In 2019, Australian Clinical Labs launched a new pre pregnancy comprehensive carrier screening test, which co...