CHICAGO, May 8, 2024 /PRNewswire/ -- According to
Arizton's latest focus insight report, the US laboratory developed
tests market is growing at a CAGR of 3.40% from 2023 to
2029.
To Know More, Click:
https://www.focusreports.store/report/us-laboratory-developed-tests-market
The U.S. Laboratory Developed Tests (LDTs) Market Report
Scope
Report
Attributes
|
Details
|
Market Size
(2029)
|
USD 3.08
Billion
|
Market Size
(2023)
|
USD 2.52
Billion
|
CAGR
(2023-2029)
|
3.40 %
|
Historic
Year
|
2020-2022
|
Base
Year
|
2023
|
Forecast
Year
|
2024-2029
|
Personalized medicines are becoming the trademark of cancer
treatment. It is a constantly evolving approach based on customized
treatments based on individual genetic makeup. The FDA approved 12
personalized medications in 2019 to investigate and address the
root causes of the diseases, thus combining precision medicine in
clinical care. LDTs play a vital role in developing
personalized medicine that are likely to prove promising means of
tackling diseases through effective treatments. Biopharmaceutical
companies have doubled their R&D investments in personalized
drugs in the last few years, and they are further expected to
increase their investments by 33% in the next five years. The
rising demand for personalized medicine offers significant growth
opportunities for the growth of the vendors operating in the
laboratory developed tests market.
Key Points
- In 2023, the immune and clinical chemistry segment held the
largest market share, accounting for 38.25%, and is projected to
grow at a CAGR of 3.16% over the forecast period. This growth is
driven by the multitude of clinical chemistry tests available.
- Regarding application, the oncology segment led the market in
2023, capturing 40.30% market share, and is expected to grow at a
CAGR of 3.61% during the forecast period. This growth is fueled by
the rising prevalence of cancer diseases and increased healthcare
expenditure.
Competitive Landscape
Intense competition characterizes the laboratory developed tests
(LDTs) market, driven by manufacturers and developers striving for
innovation and distinctiveness. Among the approximately 267,000 lab
facilities in the US, only 12,000 CLIA certified laboratories can
develop and utilize LDTs. Furthermore, the expansion of operations
by health system laboratories has increased competition for
clinical laboratory testing from physicians within these health
systems and unaffiliated physicians in their service areas.
Investment and innovation in the Laboratory Developed Test (LDT)
sector are on the rise, driven by the improving precision and
efficacy of these tests in disease detection and diagnosis. Major
independent laboratories such as LabCorp and Quest Diagnostics are
significant players in the US market, alongside several
international independent clinical laboratories competing with
smaller domestic vendors. Notable competitors in the US clinical
laboratory tests market include LabCorp, Quest Diagnostics, Sonic
Healthcare, and OPKO Health.
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https://www.focusreports.store/report/us-laboratory-developed-tests-market
Segmentation & Forecast
- By Test
- Clinical & Immunochemistry
- Molecular Diagnostics
- Microbiology
- Others
- By Application
- Oncology
- Rare & Genetic Disorders
- Autoimmune Disorders
- Infectious Diseases
- Others
Vendors List
- LabCorp
- Eurofins
- Mayo Clinic
- OPKO Health Inc
- Quest Diagnostics
- Siemens Healthineers
- Sonic Healthcare
- Accu Reference Medical Lab
- ARUP Laboratories
- Clinical Reference Laboratory
- DaVita
- Empire City Laboratories
- Fresenius Medical Care
- Laboratory of Florida LLC
- HealthTrackRx
- Millennium Health
- U.S. Specialty Labs
- NeoGenomics
- Charles River Laboratories
- Centers Laboratory
- Qiagen
- Fuller Laboratories
- Unilab Corp
- Bionano Laboratories
- Cooper Clinics
- U.R. Medicine Laboratories
- Vista Clinical Laboratory
Key Questions Answered in the Report:
Q. How big is the U.S. laboratory developed tests market?
Q What is the growth rate of the U.S. laboratory developed tests
market?
Q. What are the key trends in the U.S. laboratory developed tests
(LDTs) market?
Table of Content
CHAPTER – 1: Laboratory Developed Tests Market
Overview
- Executive Summary
- Key Findings
CHAPTER – 2: Laboratory Developed Tests Market
- US: Projected Revenue of Laboratory Developed Tests Market
(2020-2029; $Billions)
CHAPTER – 3: Laboratory Developed Tests Market Segmentation
Data
- US: Projected Revenue by Test Type (2020-2029;
$Billions)
- Clinical & Immunochemistry
- Molecular Diagnostics
- Microbiology
- Others
- U.S.: Projected Revenue by Application (2020-2029;
$Billions)
- Oncology
- Rare & Genetic Disorders
- Autoimmune Disorders
- Infectious Diseases
- Others
CHAPTER – 4: Laboratory Developed Tests Market Prospects
& Opportunities
- Laboratory Developed Tests Market Opportunities &
Trends
- Laboratory Developed Tests Market Drivers
- Laboratory Developed Tests Market Constraints
CHAPTER – 5: Laboratory Developed Tests Industry
Overview
- Laboratory Developed Tests Market - Competitive Landscape
- Laboratory Developed Tests Market – Key Vendor Profiles
- Laboratory Developed Tests Market - Other Prominent
Vendors
- Laboratory Developed Tests Market - Key Strategic
Recommendations
CHAPTER – 6: Appendix
- Research Methodology
- Abbreviations
- About Arizton
About Focused Reports by Arizton
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Intelligence subsidiary committed to delivering precise and
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