The global clinical lab test market will reach $320.14 billion by 2028, according to a study by New York City-based market research firm Polaris. The figure represents a 7.3 percent compound annual growth rate.
Polaris attributed the anticipated growth primarily to aging populations, higher prevalence of cardiovascular and neurological diseases, and technological advancements.
Metabolic clinical laboratory testing was the largest market segment of all lab test types in the study, while central laboratories represented the largest market share based on end-use.