Laboratory Developed Test Market Dominant In North America With Largest Market Share

 

Laboratory Developed Test Market Insights:

In a recent research report by Market Research Community, the Laboratory Developed Test Market is expected to surpass USD 7.77 Billion by the year 2028, from USD 4.87 Billion in 2021.

The Laboratory Developed Test Market Share is projected to grow at a significant pace reaching a CAGR of approximately 6.9%, over the forecast period of 2022–2030, despite a considerable fall in product sales during the initial phase of the pandemic spread and lockdown restrictions imposed globally.

A laboratory developed test (LDT) is a diagnostic test that is designed, manufactured, and used within a single laboratory. These tests are not required to go through the same premarket clearance or approval process as tests that are commercially available, also known as "cleared" or "approved" tests.

Laboratory Developed Tests are often used to detect rare or newly discovered diseases, or to monitor the effectiveness of treatment. They may also be used to detect genetic mutations, to confirm the presence of a disease or to monitor its progression. Laboratory Developed Tests are typically validated by the laboratory that develops them and are subject to quality control and quality assurance procedures.

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The study is consolidated into major segments and further into sub-segments, such as By Type (Molecular Diagnostics, Clinical Biochemistry, Critical Care, Immunology, Microbiology, Haematology, Others), By Application (Specialty Diagnostic Centers, Clinical Research organizations, Hospitals laboratory, Academic Institutes, Others), to forecast the market size by value.

By Type        

·        Molecular Diagnostics

·        Clinical Biochemistry

·        Critical Care

·        Immunology

·        Microbiology

·        Haematology

·        Others

By Application

·        Specialty Diagnostic Centers

·        Clinical Research organizations

·        Hospitals laboratory

·        Academic Institutes

·        Others

Laboratory Developed Test Market Includes Key Players:

·        Hoffmann-La Roche Ltd

·        Quest Diagnostics Incorporated

·        QIAGEN

·        Illumina, Inc.

·        Adaptive Biotechnologies

·        Biotheranostics

·        Rosetta Genomics Ltd.,

·        Guardant Health

·        Eurofins Scientific

·        Biodesix

Laboratory Developed Test Market Growth, and Asian nations are steadily emerging as a result of government policies that are favorable to this market and growing public understanding of the advantages of these systems. Further, regions such as the Latin America, and Europe Middle East and Africa, are expected to boost the market expansion during the forecast period.

By Region

•                    Europe- (France, U.K., Russia, Italy, Spain, Germany, BENELUX, Rest of Europe)

•                    Asia Pacific- (South Korea, Australia, China, Japan, India, ASEAN, Rest of Asia Pacific)

•                    North America– (U.S., Canada, Mexico)

•                    Latin America- (Chile, Brazil, Argentina, Rest of Latin America)

•                    Middle East and Africa- (Turkey, Israel, GCC, Rest of MEA)

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