The global demand for Laboratory Developed Tests Market is presumed to reach the market size of nearly USD 45.83 BN by 2030 from USD 21.85 BN in 2022 with a CAGR of 9.7% under the study period 2023 - 2030.
Laboratory developed test (LDT) refers to a certain class of in vitro diagnostics (IVD). It is a type of in vitro diagnostics test designed for precise detection of disease and used in a single laboratory. It helps in determining diagnosis, treatment and monitoring the health condition of a patient over time. It can measure and detect a number of analytes in a sample from the body. These substances include protein, glucose, cholesterol, DNA etc. Some of the LDTs are simple and used for single analytes, while some are complex and can detect more than one analytes. Some of examples of laboratory developed tests are chemistry tests, flu tests and drug tests.
The demand for laboratory-developed test markets is scaling up due to the increasing number of chronic diseases. The rising geriatric population, coupled with the requirement for early detection of diseases, surges the demand for this market. Increasing demand for personalized medication, rising healthcare capital expenditure, along with expansion in the healthcare sector is boosting the demand for this market. The growing use of laboratory-developed tests for oncology, cardiovascular disease, infectious diseases, neurological problems and autoimmune diseases is expanding the demand for this market. Increasing government funding in LDT-related research and development is also adding up to the increase in the demand for this market.
The research report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of laboratory developed tests. The growth and trends of laboratory developed tests industry provide a holistic approach to this study.
This section of the laboratory developed tests market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
By Technology
By Application
This section covers the regional outlook, which accentuates current and future demand for the Laboratory Developed Tests market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the laboratory developed tests market include Quest Diagnostics Inc., 23andme Inc., Abbott, Guardant Health, NeoGenomics Laboratories, Siemens Healthcare Pvt. Ltd., QIAGEN, Eurofins Scientific, Illumina, Inc., F. Hoffmann-La Roche Ltd. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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