IMARC Group's latest research report, titled "Professional Diagnostics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032," offers a comprehensive analysis of the professional diagnostics market dynamics. The report also includes competitor and regional analysis, along with a breakdown of segments within the industry.
The global professional diagnostics market size reached US$ 52.9 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 73.0 Billion by 2032, exhibiting a growth rate (CAGR) of 3.65% during 2024-2032.
Professional Diagnostics Market Trends:
The global market is primarily driven by the rising prevalence of chronic diseases, necessitates advanced diagnostic tools for early detection and management. Similarly, the aging global population increases the demand for diagnostic services, as older adults typically require more frequent and comprehensive health assessments, thereby influencing market growth. Additionally, ongoing technological advancements in diagnostic equipment, such as the development of high-throughput screening systems and molecular diagnostics, is enhancing accuracy and market efficiency. The growing emphasis on personalized medicine, requiring precise diagnostic information to tailor treatments to individual patients is further impelling the market. Furthermore, rising awareness about the importance of early disease detection among the public is encouraging the use of diagnostic services and catalyzing market expansion. Apart from this, the rapid integration of artificial intelligence and machine learning in diagnostics is improving its accuracy and streamlining workflows and providing market impetus.
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Professional Diagnostics Market Scope & Growth Analysis:
The scope of the market is extensive, encompassing various diagnostic modalities, including laboratory tests, imaging, and point-of-care diagnostics. The market scope is poised for substantial growth, driven by the increasing demand for early and accurate disease detection. Market analysis indicates a robust expansion, supported by the continuous innovation in diagnostic technologies and the growing adoption of digital health solutions. Moreover, the increasing shift towards preventive healthcare and the integration of diagnostics with treatment plans are key trends propelling market growth. In addition to this, the rising adoption of home-based diagnostic solutions, particularly in the wake of the COVID-19 pandemic, is expanding the reach in the market. In line with this, escalating investments in telemedicine and remote diagnostics are also enhancing accessibility and convenience, further driving market demand. The scope of the market is benefitting from the increasing collaboration between diagnostic companies and healthcare providers to offer comprehensive diagnostic services.
Competitive Landscape with Key Players:
- A. Menarini Diagnostics s.r.l
- Abaxis, Inc. (Zoetis Inc.)
- Abbott Laboratories
- Bio-Rad Laboratories Inc.
- F. Hoffmann-La Roche AG
- SEKISUI Diagnostics (Sekisui Medical Co. Ltd.)
- Siemens AG
- Thermo Fisher Scientific Inc.
Key Market Segmentation:
Breakup by Product Type:
- Immunochemistry
- Clinical Microbiology
- Point of Care Test (POCT)
- Hematology
- Hemostasis
Breakup by End User:
- Hospitals
- Diagnostic Laboratories
- Others
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
- Market Performance
- Market Outlook
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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