June 17, 2024

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Clinical Diagnostics Market is Projected to Grow at a Substantial CAGR of 7.02% by 2027

As per DelveInsight, the global Clinical Diagnostics Market was valued at USD 70.11 billion in 2021, and it is expected to grow at a CAGR of 7.02% during the forecast period from 2022 to 2027. The leading factor expected to drive the Clinical Diagnostics Market is the rising burden of chronic disorders such as liver disorders, blood disorders, and cancer among others. Additionally, the rising strategic business activities for establishing new clinical diagnostic labs worldwide, increase in the adoption of point of care clinical diagnostic tests, and growing technological advancement, among others, will also stimulate the Clinical Diagnostics Market Growth in the coming years. Some of the key MedTech giants operating in the Clinical Diagnostics Market include Abbott, BD, bioMérieux SA, Bio-Rad Laboratories, Inc., Danaher Corporation, Siemens AG, Hologic, Inc., Qiagen NV, Quest Diagnostics Inc., F. Hoffmann-La Roche Ltd., Thermo Fisher Scientific, Sysmex, Sonic Healthcare Ltd, Exact Sciences Corporation, NeoGenomics, Inc., BioReference Laboratories, Laboratory Corporation of America® Holdings, DiaSorin, PerkinElmer Inc., FUJIFILM Corporation, and others.

DelveInsight’s Clinical Diagnostics Market” Report provides the current and forecasted Clinical Diagnostics Market trends for the next five years, upcoming innovations in the devices, individual market shares, challenges, drivers & barriers, and key competitors in the market. 

Clinical Diagnostics Overview

Clinical Diagnostics is a process of determining a disease or a disorder based on the vital signs and symptoms of a patient by physical examination or lab test. Clinical diagnostics may include a variety of tests such as lipid panel tests, blood tests, and cancer tests, among others. Clinical diagnostic tests have a decisive impact on the early diagnosis of all kinds of diseases and further help in their proper management. 

DelveInsight’s “Clinical Diagnostics Market” report provides assessment according to the product type (instruments, kits & reagents), by test (complete blood count, metabolic panel, lipid panel, cancer testing panel, liver panel, infectious disease testing, others), by end-user (hospitals, pathology labs, clinics, and others), and by geography (North America, Europe, Asia-pacific, and rest of the world).

As per DelveInsight’s assessment, in the test segment of the Clinical Diagnostics, the cancer testing panel is expected to dominate the Clinical Diagnostics Market share owing to the growing demand for cancer testing due to the rising incidence of various cancers such as prostate cancer, lung cancer, and stomach cancer among others.

The Clinical Diagnostics Market is expected to gain momentum in the coming years owing to the rising prevalence of chronic disorders such as cardiovascular disorder, diabetes, cancer, and others. As per the International Diabetes Federation, (in the year 2021), an estimated 537 million adults (20-79 years) were living with diabetes and the number of cases is expected to rise to 643 million by 2030.

The increasing cases of cancer worldwide are also likely to boost the demand for clinical diagnosis. Early diagnosis of cancer generally increases the chances of better treatment outcomes by focusing on detecting symptomatic patients as early as possible. As per the GLOBOCAN Observatory, approximately 19.3 million new cancer cases were reported across the globe in 2020. Additionally, the growth in infectious diseases (viral diseases) such as COVID-19, bacterial diseases, and fungal diseases, among others are also expected to raise the demand for clinical diagnoses worldwide. Thus, all the above-mentioned factors are likely to influence the market for clinical diagnostics.

However, the challenges in the development of accurate diagnostic tests & equipment and the high cost associated with clinical diagnostic lab equipment will impede the Clinical Diagnostics market growth.

Interested to know more about the ongoing developments in the Clinical Diagnostics Market? Visit to get an in-depth insight, at Clinical Diagnostics Procedure, Types, and Emerging Products

As per DelveInsight, North America is expected to hold a major chunk of the overall clinical diagnostics market share in the coming years. The growing prevalence of various ailments such as infectious diseases, chronic disorders, deficiency disorders, and others in the North Americas region is the key factor attributing to the Clinical Diagnostics Market Growth.  

As per CDS, approximately 24.6% (61 million) of adults had 1 chronic condition, and 27.2% (68 million) had chronic conditions in America (2018). Also, the increase in lifestyle-associated disorders such as obesity, and hypertension, among others are also anticipated to stimulate the market for clinical diagnoses in North America.

Moreover, the rising product approvals, growing focus on R&D activities by the key manufacturers for developing and launching various clinical diagnosis products, increase in investment, and rising government initiatives in the region for promoting wider adoption of point-of-care clinical diagnosis methods, among others, will also impact the growth of the clinical diagnostic market in the North America region.

Interested in knowing how the Clinical Diagnostics Market will be growing by 2027? Click to get a snapshot of Clinical Diagnostics Market Trends and Developments

Over the years, the Clinical Diagnostics Market has evolved immensely due to the active participation of the global MedTech giants and the technological advancements in the segment. 

Here are a few of the major Breakthroughs & key Innovations in the Clinical Diagnostics Market – 

  • On July 26, 2021, Beckman Coulter, a global clinical diagnostics leader, entered into definitive agreements with Quidel Corporation to obtain all rights related to the manufacture, distribution, and sale of a BNP assay for Beckman Coulter analyzers.
  • On May 04, 2021, Beckman Coulter, a clinical diagnostics leader, launched the DxA 5000 Fit, a workflow-automation solution designed to fit into medium-sized labs that run fewer than 5,000 tests a day.
  • On April 13, 2021, Ortho Clinical Diagnostics, one of the world’s largest in-vitro diagnostics companies received CE Marking for its VITROS® SARS-CoV-2 Antigen Test.
  • On November 19, 2020, Bio-Rad was granted authorization to sell or import the Platelia SARS-CoV-2 Total Ab test for COVID-19 testing in Canada.

As per DelveInsight, the ongoing clinical and commercial developments will contribute immensely to the Clinical Diagnostics Market in the coming years.

Key Players In the Clinical Diagnostics Market

Some of the key MedTech players in the Clinical Diagnostics market include Abbott (NYSE: ABT), BD (NYSE: BDX), bioMérieux SA (EPA: BIM), Bio-Rad Laboratories, Inc. (NYSE: BIO), Danaher Corporation (NYSE: DHR), Siemens AG (ETR: SIE), Hologic, Inc. (NASDAQ: HOLX), Qiagen NV (NYSE: QGEN), Quest Diagnostics Inc. (NYSE: DGX), F. Hoffmann-La Roche Ltd. (SWX: ROG), Thermo Fisher Scientific (NYSE:TMO), Sysmex (TYO: 6869), Sonic Healthcare Ltd (ASX: SHL), Exact Sciences Corporation (NASDAQ: EXAS), NeoGenomics, Inc. (NASDAQ: NEO), BioReference Laboratories, Laboratory Corporation of America® Holdings (NYSE: LH), DiaSorin (BIT: DIA), PerkinElmer Inc. (NYSE: PKI), FUJIFILM Corporation (TYO: 4901), and others.

As per DelveInsight, due to the very high growth rate and positive return, several new players are expected to enter the Clinical Diagnostics Market in the coming years, making it one of the most competitive domains in the healthcare sector. 

Learn how new players’ entries will transform the Clinical Diagnostics Market in the coming years @ Clinical Diagnostics’ Competitive Landscape.

Covid-19 Impact on Clinical Diagnostics Market

The Covid-19 had a severe impact on various healthcare sectors during the initial phases, however, the clinical diagnostics segment remained untouched. To tackle the COVID-19 infection, various organizations and healthcare companies have signed strategic partnerships and collaboration deals with the government and healthcare organizations, which positively impacted the diagnostics market.

Additionally, the approval of various diagnostic kits by the FDA and other healthcare regulatory organizations for the detection of COVID-19 infection has also influenced the clinical diagnostics market growth during the pandemic. 

To gain a better understanding of potential new entrants in the market, competitive dynamics, and attractiveness of the Clinical Diagnostics Market, connect with us to get Clinical Diagnostics Porter’s Five Forces Analysis

Scope of the Clinical Diagnostics Market Report:

  • Geography Covered: Global
  • Study Period: 2019-2027
  • Clinical Diagnostics Market By Type – 
  • Product Type  –Instruments, Kits & Reagents and 
  • Services Type
  • By Test – Complete Blood Count, Metabolic Panel, Lipid Panel, Cancer Testing Panel, Liver Panel, Infectious Disease Testing, and others
  • By End-User – Hospitals, Pathology Labs, Clinics, And Others
  • By Geography – North America, Europe, Asia-Pacific, and Rest of the World
  • Porter’s Five Forces Analysis, Product Profiles, Case Studies, KOL’s Views, Analyst’s View

Table of Contents 

1 Report Introduction
2 Executive summary
3 Regulatory and Patent Analysis
4 Clinical Diagnostics Market Key factors analysis
5 Clinical Diagnostics Porter’s Five Forces Analysis
6 COVID-19 Impact Analysis on Clinical Diagnostics Market
7 Clinical Diagnostics Market Layout
8 Clinical Diagnostics Global Company Share Analysis – Key 3-5 Companies
9 Clinical Diagnostics Product Profiles and Key Companies
10 Project Approach
11 KOL Views
12 DelveInsight Capabilities
13 Disclaimer
14 About DelveInsight

Reach out to us to get a more detailed overview of the Clinical Diagnostics Regulatory & Patent Analysis.

Key Takeaways From the Clinical Diagnostics Market Report Study

  • In-depth analysis of the Clinical Diagnostics Market size, share, and key trends.
  • Comprehensive analysis of current Clinical Diagnostics Market size (2020) and market forecast for 5 years (2022-2027)
  • The effect of the COVID-19 pandemic on the Clinical Diagnostics Market is significant. To capture and analyze suitable indicators, our experts are closely watching the Clinical Diagnostics Market.
  • Top key product/services/technology developments, mergers, acquisitions, partnerships, joint ventures happened over the last 3 years
  • Key companies dominating the Global Clinical Diagnostics Market.
  • Various opportunities are available for the other competitors in the Clinical Diagnostics Market space.
  • What are the top-performing segments in 2020? How these segments will perform in 2027.
  • Which are the top-performing regions and countries in the current Clinical Diagnostics Market scenario?
  • Which are the regions and countries where companies should have concentrated on opportunities for Clinical Diagnostics Market growth in the coming future?

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About DelveInsight

DelveInsight is a leading Business Consultant and Market Research firm focused exclusively on life sciences. It supports Pharma companies by providing comprehensive end-to-end solutions to improve their performance.  

Get in touch with our team to get more detailed insights into how the MedTech Market is expected to evolve in the coming years and to formulate innovative business solutions at MedTech Consulting Solutions

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