The demand for lab testing has increased substantially since the onset of the pandemic, thereby fuelling substantial investments in research and diagnostic industries. Moreover, given an aging population, the demand for clinical diagnostics has been increasing lately.
The integration of advanced technologies and analytics in detecting chronic diseases at their early stages is expected to drive the diagnostics and research industry’s growth over the next few years. Moreover, the increasing prevalence of infectious and chronic diseases and the growing awareness of the value of laboratory tests are also expected to fuel the industry's growth. The global clinical laboratory service market is expected to grow at a 4.1% CAGR to reach $288.10 billion by 2030.
