The global market for clinical laboratory is expected to reach USD 148.82 billion by 2020, growing at an estimated CAGR of 6.8% from 2014 to 2020, according to a new study by Grand View Research, Inc. Growing prevalence of chronic diseases and the development of novel laboratory testing methodologies is expected to drive the clinical laboratory tests market through to 2020. Due to the fact that results from clinical laboratory tests are the fundamental basis upon which medical practitioners and healthcare providers form their diagnosis and prognosis for the prevention and treatment for a range of diseases, clinical laboratory tests are critical to the global healthcare and medical fraternity.
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A growing global prevalence of medical conditions such as diabetes, obesity and other metabolic abnormalities coupled with increasing patient awareness levels is expected to boost market growth during the forecast period.
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About Grand View Research
Grand View Research, Inc. is a market research and consulting company that provides off-the-shelf, customized research reports and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and energy. With a deep-seated understanding of varied business environments, Grand View Research provides strategic objective insights.
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