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U.S. clinical laboratory services market Size

U.S. clinical laboratory services market Size

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U.S. clinical laboratory services market Size

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  1. The U.S. clinical laboratory services market reached USD 101.73 billion in 2023 and is projected to grow at a 7.3% CAGR through 2032. The market is driven by increasing healthcare spending and growing demand for clinical laboratory tests for regular check-ups and chronic disease monitoring. Key segments include:  Test Types: Clinical chemistry leads with the largest share, followed by hematology, genetic testing, and microbiology & cytology  Service Providers: Hospital-based laboratories dominate with 52.6% market share, performing 55% of testing volume  Payment Sources: Public sector leads through Medicare/Medicaid programs, accounting for 42% (USD 1.8 trillion) of healthcare spending Major market developments include:  Rising automation and digitization of clinical labs, exemplified by Flow Robotics' launch of ScanID sample tracking in April 2023  Growing prevalence of chronic diseases - CDC reports 28.7 million diagnosed diabetes cases (28.5% of population) in 2022  Increasing tuberculosis cases - 8,300 cases reported in 2023 versus 7,874 in 2021 Leading companies include Laboratory Corporation of America, Quest Diagnostics, and Eurofins Scientific, with LabCorp performing 35,000-40,000 daily tests during peak periods1. With major developments like:  Illumina's expanded oncology testing partnership with Myriad Genetics (March 2023)  LabCorp's launch of monkeypox testing using CDC protocols (July 2022) The COVID-19 pandemic positively impacted the market in 2020 due to increased testing volumes and patient visits Key growth drivers include:  Increasing chronic disease prevalence, with 8.5 million undiagnosed diabetes cases in 2021  Growing demand for early disease detection and diagnostic testing  Rising healthcare expenditure and reimbursement support  Technological advances in lab automation Report- Fortune Business Insights - U.S. Clinical Laboratory Services Market Size | Share [2032] https://www.fortunebusinessinsights.com/u-s-clinical-laboratory-services-market-107909

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