Japan Laboratory Developed Tests Market Size & Outlook
Japan laboratory developed tests market, 2018-2030 (US$M)
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Japan laboratory developed tests market highlights
- The Japan laboratory developed tests market generated a revenue of USD 543.8 million in 2023 and is expected to reach USD 800.8 million by 2030.
- The Japan market is expected to grow at a CAGR of 5.7% 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.
Laboratory developed tests market data book summary
| Market revenue in 2023 | USD 543.8 million |
| Market revenue in 2030 | USD 800.8 million |
| Growth rate | 5.7% (CAGR from 2023 to 2030) |
| Largest segment | Molecular diagnostics |
| Fastest growing segment | Immunoassays |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 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, Japan accounted for 4.4% of the global laboratory developed 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 laboratory developed tests market is projected to lead the regional market in terms of revenue in 2030.
- China is the fastest growing regional market in Asia Pacific and is projected to reach USD 1,142.9 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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Japan 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 24.42% in 2023. Horizon Databook has segmented the Japan 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.
Japan is one of the most technologically advanced countries in Asia Pacific. Its LDT market is expected to grow rapidly over the forecast period owing to high government investment to reduce cancer prevalence. Many initiatives, such as government grants to various research institutes and companies, can help develop practical solutions to battle cancer.
Multiple companies have collaborated with regional private universities to establish and provide diagnostic tests. For instance, in July 2021, QIAGEN and Sysmex Corporation formed a strategic alliance to develop and commercialize cancer companion diagnostics.
The partnership aimed to accelerate collaboration with pharmaceutical companies to develop drug treatments for cancer. These factors would further promote the adoption of LDTs in the country.
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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 country-level data and insights on the Japan laboratory developed tests market , including forecasts for subscribers. This country databook contains high-level insights into Japan laboratory developed tests market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Japan laboratory developed tests market size, by technology, 2018-2030 (US$M)
Japan Laboratory Developed Tests Market Outlook Share, 2023 & 2030 (US$M)
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