We understand the intense effect of the coronavirus on numerous businesses across the globe, affecting the opportunities, marketing strategies, and pricing models, that are further affecting the growth of the businesses worldwide. We provide updated pointers in this economic pandemic to help the conglomerates to sustain in these uncertain and challenging times and ensure that they take affirmative business decisions. Know More
The growth of the global Clinical Laboratory Testing market over the next few years is driven by growing public healthcare expenditure which is anticipated to spur the demand for medical advancements in healthcare industry. The low and middle income countries are witnessing a rapid growth in their total health spending, by growing at an annual average of 6% as compared to high income countries that are currently growing at nearly about 4% according to a report released by World Health Organization (WHO). Around 10% of the world’s GDP comprising of USD 7.5 trillion was estimated as forming part of global healthcare expenditure in 2016. The global healthcare expenditure had risen and had recorded an annual average growth rate of 4% between 2000 and 2016. On the other hand, global economy recorded an even lower average growth rate of 2.8% annually during the same period. The low and middle income countries recorded about 6.3% of the GDP on health spending, while health spending comprised of about 8.2% of GDP in high income countries. In 2016, the per capita median health expenditure in high income countries crossed USD 2000, with upper-middle income countries recording USD 400 and low and lower-middle income countries recording USD 100. The total population living in these regions is an important factor, as 80% of the population are residing in lower and middle income regions, while only 20% of the total population are residing in high income regions. The global Clinical Laboratory Testing market involves a detailed study that provides a descriptive evaluation of the trends and developments in the market. Besides, the overall market scope and annual growth rate can be assessed on the basis of various parameters such as revenue, market segmentation, growth indicators and opportunities and challenges that affect the growth of the market. The global Clinical Laboratory Testing market is estimated to attain notable absolute $ opportunity value in 2027 as compared to the value achieved in 2019.
The report offers a detailed study on global Clinical Laboratory Testing market by determining the relationship between independent and dependent variables through a correlation and regression analysis, including highlighting the supply and demand risks connected with growth of the market. Additionally, a separate section has been included in the report on macro-economic indicators affecting the growth of the global Clinical Laboratory Testing market.
The healthcare sector that has been growing at a moderate rate over the last few years is predicted to observe a noteworthy growth over the next few years. Moreover, the rate of growth of employment in healthcare is anticipated to observe an increase over the next few years. The home healthcare sector in the United States (U.S.) is anticipated to witness a 60% rise in the number of jobs generated between the periods 2014 to 2024 as per a report of Bureau of Labour Statistics, while jobs at the offices of healthcare practitioners are anticipated to increase by 25% over the same period. Additionally, the number of jobs in hospitals are anticipated to grow by 6% during the period. The years 2014 to 2024 are anticipated to witness some of the healthcare occupations observing rapid growth such as home health aides (38%), occupational therapy assistants (43%), physical therapy assistants (41%), physical therapy aides (39%) and nurse practitioners (35%). At least 4,00,000 physicians, physician assistants, nurse practitioners and midwives are anticipated to join the workforce in the industry, which is estimated to support the growth of the healthcare sector during this period.
Various evidence-based interventions in order to help prevent and control disorders are being presented by the Centers for Disease Control and Prevention (CDC) through its 6|18 initiative that is aimed at raising awareness among people on the various health conditions prevalent, out of which about six common health conditions are being focused, by providing information to the healthcare purchasers, providers and payers that contains details on the achievement of greater effect on population health outcomes and costs in terms of access, utilization and quality. Health conditions such as high blood pressure, tobacco use, asthma, type 2 diabetes and unintended pregnancies have been listed under the 6|18 initiative that is covered by CDC.
A separate section in the report highlights regional scenario in market which includes North America (further segregated into U.S. and Canada).
The report further includes a section on European region which is further segmented on a country/regional level including Germany, U.K., France, Italy, Spain, BENELUX, Netherlands, NORDIC, Poland, Hungary, Russia, Turkey, and Rest of Europe.
In the Asia Pacific Clinical Laboratory Testing market, the report studies China, India, South Korea, Indonesia, Malaysia, Japan, Australia, New Zealand and Rest of Asia Pacific. In the Latin America section, an in-depth analysis on Mexico, Brazil, Argentina and Rest of Latin America is covered. Middle East and Africa region have been further identified for the Clinical Laboratory Testing market demand and segregated into Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa and Rest of Middle East and Africa.
A complete section on competitive landscape provides an understanding of the companies in current strategic report based upon various parameters which includes overview of the company, business strategy, major product offerings, key performance indicators, risk analysis, recent development, regional presence and SWOT analysis. There is a separate section which has been provided on the market share of key players in this market, as well as the competitive positioning of the players.
We are open for the customization of this report for our client.