Clinical laboratory tests represent a case of high volume steady growth market. The global clinical laboratory test market is anticipated to develop to USD 324.5 billion by 2022 from USD 206.7 billion in 2016. The market is expected to generate a CAGR growth of 6.5% during the forecasted period of 2016 to 2022.

Market Dynamics of Clinical Laboratory test Market:

Drivers

The increasing prevalence of diseases and the growing population of the world is the critical driver of the market. The market is getting a boost from the growing screening programs initiated by the major governments. The inclusion of mandatory screening in the affordable healthcare act for newborns is expected to lead to a fast growth. Increasing awareness and growing bias towards evidence based medicines coupled with the growing volume of in-vitro diagnostic tests will also press the market growth.

Restraints

Stringent government rules and regulations and the high costs of the tests are the critical constraints on the market. The presence of spurious low cost products is hampering the market due to customer’s loss of faith. False results are other restraints as many older tests have low selectivity and detection limits to their targets.

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