In-depth coverage of the Asia Pacific medical laboratories market including drivers, restraints and opportunities should help professionals to better understand the market behavior. The projections in the report are made by analyzing the current market trends and highlighting the market potential for the period of 2014-2022 in terms of value.
Portland, OR -- (SBWIRE) -- 07/25/2017 -- Medical laboratories are independent, commercial enterprises that provide analytic services to the healthcare professionals. Medical Labs facilitate tests on clinical specimens and help determine the cause of disease by evaluating a patients medical examination. The Asia Pacific medical laboratories market is growing expeditiously owing to rising incidence rates of chronic diseases such as obesity, cardio-vascular ailments, cancer, diabetes and the increasing cost of healthcare services worldwide. The Asia-Pacific region is growing swiftly in the medical laboratories market owing to cost effective medical treatments, increased awareness for medical testing services and favorable government initiatives to improve healthcare. While the demand for medical laboratories has increased considerably in recent years, the market also poses a major challenge in the form of inadequate skilled workers.
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The Asia Pacific medical laboratories market is segmented on the basis of application, end user and geography. The application segment is further categorized into routine medical testing, esoteric medical testing, diagnostic imaging services, anatomical pathology testing, and others. Anatomical pathology testing is expected to grow at the fastest CAGR during the forecast period of 2013- 2020, owing to the increasing incidence rates of infectious diseases and leading to an increase in procedure volumes. Based on the end user, the Asia Pacific medical laboratory market is segmented into Hospital-Based Laboratories, Stand-Alone Laboratories, and Clinic-Based Laboratories. Hospital-based laboratories are the largest segment owing to the high volume of patients along with the increased frequency of tests.
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The Asia Pacific medical laboratories market is segmented into China, Japan, India, Australia and others. The Asia-Pacific regions are expected to exhibit high growth for medical laboratory services in the future. This growth is supplemented by the growing awareness for medical testing services, government support to improve healthcare sector and introduction of new and improved testing procedures by major market players in this region.