Global clinical diagnostics market to grow at a CAGR of 7.02% by 2028

Clinical diagnostics market insights report provides the current and forecast market analysis, individual leading clinical diagnostics companies’ market shares, challenges, clinical diagnostics market drivers, barriers, and trends, and key clinical diagnostics companies in the market.

Some facts of the clinical diagnostics market report

• Leading clinical diagnostics companies working in the market are 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.
• According to DelveInsight, North America is anticipated to dominate the global clinical diagnostics market during the forecast period.
• In October 2022, ixlayer, a digital diagnostics company, announced that it would manufacture CVS Health’s branded at-home sample collection kits.
• In October 2022, Daye, has completed a USD 11.5 million funding round and announced the launch of its vaginal microbiome screening tests that can detect infections and pathogens linked to STIs and vaginal infections, as well as fertility, pregnancy, and IVF complications, making at-home vaginal health testing more accurate, comfortable and convenient.
• On July 2022, Novacy experts in clinical diagnostics received approval for their product EXSIG™ Covid-19 direct test in the UK under CTDA legislation.

Clinical diagnostics overview
Clinical Diagnosis (Dx) is the identification and confirmation of a disease or disorder, or exposure to xenobiotics, to explain the patient’s clinical manifestations. It is also used to assess an individual’s health (routine health checkup), the functioning of any organ or associated metabolic process (such as the extent of damage caused to an organ due to disease or injury and improvement in organ function due to treatment), and to distinguish one disease from another, particularly when similar manifestations are associated with multiple diseases or comorbid conditions occur.

Clinical diagnostics market insights
The global clinical diagnostics market is studied geographically for North America, Europe, Asia-Pacific, and the Rest of the World. North America currently leads the global market in terms of revenue share and is expected to maintain that position during the forecasted period. This dominance is due to the region’s growing government initiatives promoting the wider adoption of point-of-care clinical diagnosis methods in addition to traditional ones. Furthermore, companies expanding laboratory testing by launching new products are expected to boost clinical diagnostics growth during the forecasted period by increasing the clinical diagnostic market in various countries (2023–2028).

Clinical diagnostics market dynamics
The clinical diagnostics market is currently gaining traction due to an increase in the cases of various chronic disorders such as cardiovascular disease, diabetes, cancer, and others. Furthermore, rising cancer cases worldwide are expected to increase the demand for clinical diagnosis. Early cancer detection improves the chances of better treatment by focusing on detecting symptomatic patients as soon as possible.

Furthermore, the increase in infectious diseases such as Covid-19, bacterial diseases, and fungal diseases, among others, is expected to increase demand for clinical diagnosis globally, thereby increasing the market during the forecasted period.

The approval of various diagnostic kits for detecting Covid-19 infection boosted the clinical diagnostics market during the pandemic. DelveInsight