The Laboratory Development Testing Market is expected to grow from US$ 4,524.75 Million in 2021 at a CAGR of 7% during the forecast period 2022 – 2028, to reach US$ 7,269.3 Million by 2028.
Laboratory development testing (LDT) is known as a type of in vitro diagnostic test. Laboratory development tests are designed, manufactured, and used within a single laboratory. Laboratory-developed tests are considered test services developed by clinical laboratories, hospitals and academic institutions according to their own procedures. Laboratory-developed tests are often created in response to unmet clinical needs. Laboratory-developed tests are primarily used for early and accurate diagnosis, monitoring, and treatment guidance for patients. It is also used to diagnose and access diseases and disorders for which FDA-approved kits are not available. Laboratory-developed tests may not be sold or distributed to medical facilities or other laboratories, and therefore only used within the laboratory. Currently, clinical laboratories are regulated by the Centers for Medicare and Medicaid Services (CMS) under the Clinical Laboratory Improvement Amendments (CLIA) and are expected to change in the next few years by the US FDA regulatory framework.
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Market Segments
On the basis of test type
- Clinical Biochemistry
- Molecular Diagnostics
- Immunology
- Critical Care
- Microbiology
- Haematology
Key Players
The key players in the market include Quest Diagnostics, Adaptive Biotechnologies Corporation, Qiagen, Eurofins, Roche, Illumina, Biotheranostics, Adaptive Biotechnologies, Guardant Health, Biodesix and Helix, Rosetta Genomics.
Scope of the Report
The research study analyzes the global Laboratory Development Testing industry from 360-degree analysis of the market thoroughly delivering insights into the market for better business decisions, considering multiple aspects some of which are listed below as:
Recent Developments
o Market Overview and growth analysis
o Import and Export Overview
o Volume Analysis
o Current Market Trends and Future Outlook
o Market Opportunistic and Attractive Investment Segment
Geographic Coverage
o North America Market Size and/or Volume
o Latin America Market Size and/or Volume
o Europe Market Size and/or Volume
o Asia-Pacific Market Size and/or Volume
o Rest of the world Market Size and/or Volume
Key Questions Answered by Laboratory Development Testing Market Report
1. What was the Laboratory Development Testing Market size in 2020 and 2021; what are the estimated growth trends and market forecast (2022-2028).
2. What will be the CAGR of Laboratory Development Testing Market during the forecast period (2022-2028)?
3. Which segments (product type/applications/end-user) were most attractive for investments in 2022? How these segments are expected to grow during the forecast period (2022-2028).
4. Which manufacturer/vendor/players in the Laboratory Development Testing Market was the market leader in 2020?
5. Overview on the existing product portfolio, products in the pipeline, and strategic initiatives taken by key vendors in the market.
The report covers the following objectives:
- Proliferation and maturation of trade in the global Laboratory Development Testing market.
- The market share of the global Laboratory Development Testing market, supply and demand ratio, growth revenue, supply chain analysis, and business overview.
- Current and future market trends that are influencing the growth opportunities and growth rate of the global Laboratory Development Testing market.
- Feasibility study, new market insights, company profiles, investment return, revenue (value), and consumption (volume) of the global Laboratory Development Testing market.
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