Rising Chronic Diseases: A Key Driver Transforming the Clinical Chemistry Market 2024

The Business Research Company's Rising Chronic Diseases: A Key Driver Transforming the Clinical Chemistry Market 2024

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The clinical chemistry market is anticipated to grow from $14.04 billion in 2023 to $15.02 billion in 2024, with a CAGR of 7.0%. This growth can be linked to an increased demand for diagnostic testing, expansion in the healthcare industry, an aging population, and heightened disease diagnosis and management efforts.

What Is the Estimated Growth Rate and Market Size of the Global Clinical Chemistry Market?
The market is also expected to see strong growth, estimated at $20.06 billion by 2028, with a CAGR of 7.5%. Factors contributing to this growth include the rising demand for precision medicine, increasing needs for biomarker discovery, personalized healthcare demands, the emergence of infectious diseases, and the growth of telemedicine and remote monitoring. Key trends will feature advanced analytical techniques, AI and machine learning integration, technological innovations, laboratory automation, and cutting-edge solutions.

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What Are The Significant Drivers Behind The Growth Of The Clinical Chemistry Market?
The growing prevalence of chronic diseases is likely to bolster the market. Chronic conditions such as diabetes, cancer, and heart disease are leading causes of morbidity and mortality globally. Clinical chemistry enhances diagnostic techniques that identify disease status and risk. The World Health Organization reported that chronic diseases account for 41 million deaths annually, underscoring the need for effective clinical solutions. Consequently, the demand for clinical chemistry services is expected to rise.

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Which Top Companies Are Shaping The Growth Of The Clinical Chemistry Market?
Major companies operating in the market include Abbott Laboratories, F. Hoffmann-La Roche Ltd., ELITechGroup SAS, Beckman Coulter Inc., Thermo Fisher Scientific Inc., Siemens AG, Ortho Clinical Diagnostics Holdings plc, Diatron Mi Apac Private Limited, Nova Biomedical Corporation, Johnson & Johnson Services Inc., Alfa Wassermann USA Inc., HORIBA Ltd., Mindray Medical International Limited, Randox Laboratories Limited, SYNLAB International GmbH, Agilent Technologies Inc., Alcami Corporation, ARUP Laboratories Inc., Bio-Rad Laboratories Inc., Bruker Corporation, Charles River Laboratories International Inc., Danaher Corporation, Eurofins Scientific SE, GE Healthcare Technologies Ltd., Horiba Medical Inc., Laboratory Corporation, Luminex Corporation, Medtronic plc, PerkinElmer Inc., Quest Diagnostics Incorporated, Sysmex Corporation, Tosoh Corporation, Trinity Biotech plc, Waters Corporation, Werfen S.A.

Which Emerging Trends Are Reshaping the Clinical Chemistry Market Size?
In clinical chemistry, Siemens Healthineers launched the Atellica CI Analyzer in July 2023, addressing laboratory challenges with features that maximize test yield and streamline workflows, supporting over 200 assays across multiple disease states.

What Are The Segments In The Global Clinical Chemistry Market?

The clinical chemistry market covered in this report is segmented –
1) By Product: Analyzers, Reagents And Consumables
2) By Application: General Chemistry Test, Liver Function Test, Kidney Function Test, Urinalysis, Electrolyte Panel, Lipid Profile, Specialty Chemical Test, Other Applications
3) By End User: Hospitals, Diagnostic Or Pathology Centers, Ambulatory Surgery Centers, Other End Users

North America: Largest Region in the Clinical Chemistry Market

North America was the largest region in the market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Clinical Chemistry Market Definition
Clinical chemistry focuses on measuring the concentrations of biologically significant chemicals, or analytes, in bodily fluids to aid in diagnosis and treatment.

The Clinical Chemistry Global Market Report 2024 from The Business Research Company includes the following key information:
• Market size data for both historical and future periods
• Analysis of both macro and microeconomic factors that have impacted the market over the past five years
• Regional market analysis covering Asia-Pacific, China, Western Europe, Eastern Europe, North America, the USA, South America, and the Middle East and Africa
• Country-specific market analysis for Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA.

Overview of the Global Clinical Chemistry Market Report: Trends, Opportunities, Strategies, and More
The Clinical Chemistry Global Market Report 2024 from The Business Research Company is an extensive resource that delivers insights into clinical chemistry market size, clinical chemistry market drivers and trends, clinical chemistry market major players, clinical chemistry competitors' revenues, clinical chemistry market positioning, and clinical chemistry market growth across geographies. This report provides valuable in-depth insights into potential opportunities and strategies. Companies can utilize the information presented to target segments with the greatest growth potential.

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