LONDON, May 11, 2016 /PRNewswire/ -- The Western European clinical laboratories market is seeing strong trends that will
New analysis from Frost & Sullivan, Analysis of the Western European Clinical Laboratories Market (http://frost.ly/b9), finds that the market earned revenues of $53.62 billion in 2015 and estimates this to reach $69.03 billion in 2020. The study covers hospital-based labs, independent labs, and physician office labs across the United Kingdom, Germany, France, Italy, Spain, Benelux and Scandinavia.
For complimentary access to more information on this research, please visit: http://corpcom.frost.com/forms/EU_PR_JSchoneborn_MB51.
"The increasing market share of large reference groups such as Labco, Unilabs and Sonic confirms the competitive edge of independent labs," said Frost & Sullivan Transformational Health Research Manager Sangeetha Prabakaran. "Larger groups with private equity are also consolidating and acquiring clinical reference lab group companies, expanding the segment."
The maturity of these trends, however, varies across countries in the region. For instance, outsourcing and subcontracting to independent labs is more prevalent among private hospitals in Spain. Germany and France too are proving lucrative for private independent labs. In smaller countries such as Luxembourg, public hospitals are supplying clinical lab services internally while private hospitals prefer outsourcing such services to private labs. In the United Kingdom as well, stringent budgets force National Health Service (NHS) hospitals to outsource their clinical lab services.
"Physician office labs constitute the smallest segment as cost pressures and low reimbursement schemes for co-payment dampen demand," added Sashidhar. "In Germany, the list of reimbursable tests is broader but dependent on physician speciality."
Going forward, strongest demand is expected in clinical lab services for diabetes, cardiovascular, and genetic testing. Across service segments, the price of tests and quality of services will be the key competitive factors in the Western European clinical lab services market.
Analysis of the Western European Clinical Laboratories Market is part of the Life Sciences (http://ww2.frost.com/research/industry/healthcare/life-sciences) Growth Partnership Service program. Frost & Sullivan's related studies include: Analysis of the Global Human Albumin Market and Product Pipeline, Analysis of the Cardiac Biomarker Diagnostics Market, A Product and Pipeline Analysis of the Global Immunoglobulin Market, US Nucleic Acid Purification Market, Product and Pipeline Analysis of the Global Colorectal Cancer Market, Analysis of the Ethiopian Pharmaceutical Market, Asia-Pacific Point-of-Care Testing Market, and Analysis of the US Clinical Laboratories Market. All studies included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants.
Our "Growth Partnership" supports clients by addressing these opportunities and incorporating two key elements driving visionary innovation: The Integrated Value Proposition and The Partnership Infrastructure.
For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Is your organisation prepared for the next profound wave of industry convergence, disruptive technologies, increasing competitive intensity, Mega Trends, breakthrough best practices, changing customer dynamics and emerging economies?
Contact Us: Start the discussion
Join Us: Join our community
Subscribe: Newsletter on "the next big thing"
Register: Gain access to visionary innovation
Analysis of the Western European Clinical Laboratories MarketMB51-52
Contact:Jana SchönebornCorporate Communications – EuropeP: +49 (0)69 77033 43E: firstname.lastname@example.org
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/growth-opportunities-emerge-for-independent-reference-laboratories-as-hospitals-increasingly-outsource-or-sub-contract-lab-services-300266729.html
SOURCE Frost & Sullivan
Subscribe to our Free Newsletters!