Asia Pacific Clinical Laboratory Tests Market Size & Outlook
Asia Pacific clinical laboratory tests market, 2018-2030 (US$M)
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Asia Pacific clinical laboratory tests market highlights
- The Asia Pacific clinical laboratory tests market generated a revenue of USD 22,053.6 million in 2023.
- The market is expected to grow at a CAGR of 12.3% from 2024 to 2030.
- In terms of segment, hba1c tests was the largest revenue generating type in 2023.
- HGB/HCT tests is the most lucrative type segment registering the fastest growth during the forecast period.
- Country-wise, India is expected to register the highest CAGR from 2024 to 2030.
Asia Pacific data book summary
| Market revenue in 2023 | USD 22,053.6 million |
| Market revenue in 2030 | USD 49,664.3 million |
| Growth rate | 12.3% (CAGR from 2023 to 2030) |
| Largest segment | Hba1c tests |
| Fastest growing segment | HGB/HCT tests |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Complete blood count, HGB/HCT tests, Basic metabolic panel, BUN creatinine tests, Electrolytes testing, HbA1c tests, Comprehensive metabolic panel tests, Liver panel tests, Renal panel tests, Lipid panel tests |
| Key market players worldwide | Quest Diagnostics Inc, Abbott Laboratories, Labcorp Holdings Inc, ARUP Laboratories, OPKO Health Inc, Clinical Reference Laboratory, Sonic Healthcare Ltd, Cinven, Unilabs |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 19.2% of the global clinical laboratory tests market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 49,664.3 million by 2030.
Hba1c tests was the largest segment with a revenue share of 11.99% in 2023. Horizon Databook has segmented the Asia Pacific clinical laboratory tests market based on complete blood count, hgb/hct tests, basic metabolic panel, bun creatinine tests, electrolytes testing, hba1c tests, comprehensive metabolic panel tests, liver panel tests, renal panel tests, lipid panel tests covering the revenue growth of each sub-segment from 2018 to 2030.
Asia Pacific is anticipated to grow at the fastest rate over the forecast period. Presence of high untapped opportunities in the form of unmet medical needs, increasing avenues of scientific research, and positive economic growth are some primary growth drivers of this market.
Positive changes, such as healthcare benefits by the government, increased awareness, and the urge to avail of high-end medical treatment are also expected to drive regional market growth. Asia Pacific region comprises over one-third of the global population. The region has been affected the most by the COVID-19 pandemic.
China and India have conducted the highest number of tests for SARSCoV-2. However, testing capacity needs to increase to fulfill the unmet needs in the clinical laboratory segment. Moreover, the high prevalence of chronic diseases in the region and presence of a large geriatric population are among the factors expected to fuel the market growth.
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Clinical Laboratory Tests Market Scope
Clinical Laboratory Tests Market Companies
| Name | Profile | # Employees | HQ | Website |
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Asia Pacific clinical laboratory tests market size, by country, 2018-2030 (US$M)
Asia Pacific Clinical Laboratory Tests Market Outlook Share, 2023 & 2030 (US$M)
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