Australia Clinical Laboratory Tests Market Size & Outlook
Australia clinical laboratory tests market, 2018-2030 (US$M)
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Australia clinical laboratory tests market highlights
- The Australia clinical laboratory tests market generated a revenue of USD 1,977.0 million in 2023 and is expected to reach USD 4,259.6 million by 2030.
- The Australia market is expected to grow at a CAGR of 11.6% 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.
Clinical laboratory tests market data book summary
| Market revenue in 2023 | USD 1,977.0 million |
| Market revenue in 2030 | USD 4,259.6 million |
| Growth rate | 11.6% (CAGR from 2023 to 2030) |
| Largest segment | Hba1c tests |
| Fastest growing segment | HGB/HCT tests |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 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, Australia accounted for 1.7% of the global clinical laboratory tests market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China clinical laboratory tests market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 5,145.7 million by 2030.
Hba1c tests was the largest segment with a revenue share of 11.88% in 2023. Horizon Databook has segmented the Australia 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.
The prevalence of diseases, such as diabetes and cardiovascular disorders, is growing in Australia. For instance, according to Baker Heart and Diabetes Institute, over 330,000 individuals in Australia are suffering from atrial fibrillation, and its prevalence can largely be attributed to diabetes. The prevalence of cancer is growing in the country.
Around 150,000 cancer cases were estimated to be diagnosed in 2020, and this number is expected to rise to 239,770 by 2030. Furthermore, in 2022, over 1.29 million people in the country had diabetes. In addition, one in four people living with diabetes remains undiagnosed.
Each year, over 500 million tests are delivered, which play a critical role in patient care and clinical decision-making. Routine tests account for 80% of the tests conducted in the country. In addition, the annual increase in patient burden on clinical laboratories is 5% to 10%. This is expected to increase the competition in the Australia market.
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Clinical Laboratory Tests Market Scope
Clinical Laboratory Tests Market Companies
| Name | Profile | # Employees | HQ | Website |
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Australia clinical laboratory tests market size, by type, 2018-2030 (US$M)
Australia Clinical Laboratory Tests Market Outlook Share, 2023 & 2030 (US$M)
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