Market Analysis - Laboratory Medicine 2018
Conference series LLC welcomes all the experts across the globe to its ‘13th International Conference on Laboratory Medicine & Pathology (Laboratory Medicine-2018), to be held during March 05-07, 2018 in Berlin, Germany. This conference comprises of brief keynote presentations, Oral talks, Poster presentations, and Exhibitions.
In the light of this topic, conference series offers a platform for the experts across the globe in the area of pathology, pharmacy, clinical science and Laboratory Medicine to share the cutting edge research discoveries and research.
The revenue, spending, and test volume of the U.S. clinical laboratory testing market has grown steadily over the past decade. Clinical laboratory testing is positioned to directly benefit from the explosion in biotechnology, especially genomics. A range of dynamic trends is pushing market growth and company valuations. The global laboratory medicine analyzers market was estimated at $8,965 million in 2014. This market is expected to grow at a CAGR of 5.52% between 2014 and 2019, to reach $11,728.01 million in 2019
Laboratory medicines are considered a vital part of the healthcare industry as almost 80.0% of doctor’s diagnoses are dependent on laboratory tests results. Laboratory diagnosis services, interpret and deliver specific information to doctors at the right time are perceiving an increase in demand. Laboratory medicine services offer a range of tests that help in identifying abnormalities and disease progression; these include routine urine and blood tests for genetic analysis like molecular expression testing, fluorescence in-situ hybridization. Major drivers for laboratory medicine market include increasing occurrence rates of chronic diseases, evolving the global base of geriatric population and increasing patient awareness levels affecting to disease diagnoses. Early disease detection assisted by specialized diagnosis, mostly in the areas of gynecology, endocrinology, and oncology is leading to doctors taking complete advantage of laboratory medicines for disease diagnosis and treatment. Global laboratory medicine market was valued at USD 174.14 billion in 2013. The market size of the Laboratory Medicine is highest in the USA, which is need to be get propagated across the globe in order to develop the world in this arena.
Demographic representation (%)
Market Value ($m)
Pathology specimens on an average currently number approximately 73,000 per year and autopsies number approximately 120 per year. Approximately 600 specimens are processed for electron microscopy annually including over 350 renal biopsies per year. The Pathology Advanced Diagnostics Laboratory performs over approximately Urovysion tests, KRAS tests, B and T gene rearrangements HPV genotypes, DNA ploidy studies, and small-round-blue-cell PCR panels annually. The global digital pathology market is estimated to reach $5.7 billion by 2020. The In vitro diagnostics market revenue is expected to reach $74.65 billion by 2020 at a CAGR of 5.34% during 2014-2020. The diagnostic Medicine market growth rate is 5-7% yearly. The market value of the Laboratory Medicine is increasing gradually. And it is likely to increase to 17227million $ till 2018. This is a huge leap from 2014 -2018; the market value is subsequently increasing, as it is shown below in a graphical representation.
Future Market Growth ($bn)
As we can see the market value of Laboratory Medicine & Pathology is increasing so as the market value of the arena. In 2010 it was 57billion $, and due to the subsequent rise, it is expected to be 145 billion$ till 2023. We can see this graphical representation in the below-mentioned graph. As well as we can draw the conclusion that the arena is getting flourished in a fast pace.