Asia Pacific Laboratory Developed Tests Market Size & Outlook
Asia Pacific laboratory developed tests market, 2018-2030 (US$M)
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Asia Pacific laboratory developed tests market highlights
- The Asia Pacific laboratory developed tests market generated a revenue of USD 2,560.0 million in 2023.
- The market is expected to grow at a CAGR of 6.4% from 2024 to 2030.
- In terms of segment, molecular diagnostics was the largest revenue generating technology in 2023.
- Immunoassays is the most lucrative technology segment registering the fastest growth during the forecast period.
- Country-wise, China is expected to register the highest CAGR from 2024 to 2030.
Asia Pacific data book summary
| Market revenue in 2023 | USD 2,560.0 million |
| Market revenue in 2030 | USD 3,941.0 million |
| Growth rate | 6.4% (CAGR from 2023 to 2030) |
| Largest segment | Molecular diagnostics |
| Fastest growing segment | Immunoassays |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Immunoassays, Hematology and Coagulation, Molecular Diagnostics, Microbiology, Clinical Chemistry, Histology/Cytology, Flow Cytometry, Mass Spectroscopy |
| Key market players worldwide | Quest Diagnostics Inc, 23andMe Holding Co Class A, Abbott Laboratories, Guardant Health Inc, NeoGenomics, Siemens Healthineers AG ADR, Qiagen NV, Illumina Inc, Roche Holding AG ADR |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 20.7% of the global laboratory developed tests market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Europe is the fastest growing regional market and is projected to reach USD 6,481.1 million by 2030.
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Laboratory Developed Tests Market Scope
Laboratory Developed Tests Market Companies
| Name | Profile | # Employees | HQ | Website |
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Asia Pacific laboratory developed tests market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to laboratory developed tests market will help companies and investors design strategic landscapes.
Molecular diagnostics was the largest segment with a revenue share of 24.21% in 2023. Horizon Databook has segmented the Asia Pacific laboratory developed tests market based on immunoassays, hematology and coagulation, molecular diagnostics, microbiology, clinical chemistry, histology/cytology, flow cytometry, mass spectroscopy covering the revenue growth of each sub-segment from 2018 to 2030.
Presence of key market players in the region, such as Sysmex Corporation, is expected to boost the market. Sysmex Corporation is undertaking initiatives to promote personalized therapeutics in primary care testing closer to patients.
It is developing companion diagnostic drugs and testing technologies for analyzing proteins, genes, disease-derived cells, & other elements in the blood or other body fluids. For instance, in May 2022, Sysmex Inostics announced plans to expand its blood test offering for Acute Myeloid Leukemia (AML) detection.
In addition, significant R&D is underway in RIKEN, a key research institute in Japan, for the analysis and development of novel biomarkers. Major research agencies in Canada and Japan have collaborated to gain an understanding of the mechanism of genetic mutations.
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Our clientele includes a mix of laboratory developed tests market companies, investment firms, advisory firms & academic institutions.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of continent-level data and insights on the Asia Pacific laboratory developed tests market , including forecasts for subscribers. This continent databook contains high-level insights into Asia Pacific laboratory developed tests market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Asia Pacific laboratory developed tests market size, by country, 2018-2030 (US$M)
Asia Pacific Laboratory Developed Tests Market Outlook Share, 2023 & 2030 (US$M)
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