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Global Laboratory-Developed Testing Industry Analysis By Geography
Laboratory developed test is a type of in vitro diagnostic test that is planned and utilized within a single laboratory. These tests can be used to gauge or discriminate a wide variety of analytes materials such as proteins, chemical compounds like cholesterol or glucose, or DNA, from a specimen received from human anatomy. The development of automated in vitro diagnostics (IVD) techniques for labs and dispensaries to deliver exact and error-free analysis is expected to fuel the increment. Laboratory developed tests are beneficial for the detection and monitoring of oncology, genetics, infections, and autoimmune diseases. These tests are the best option for the population curious about their genetic makeup concerning the presence of any disease-related markers. This testing offers numerous advantages such as improved quality of life, monitoring pre-existing conditions, and maintaining one's lifestyle accordingly, which makes them preferable over hospitalization for daily checkups or the treatment of disease occurrence.
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Asia Pacific is projected to have the highest CAGR over the forecast period due to the presence of well-developed healthcare infrastructure, government support, increasing research and development activities along with the growing medical tourism in the region, growing usage of laboratory developed test in combating Covid-19, increasing incidents of cancer and genetic disorders, and large number of product launches. In Asia Pacific, India is the largest market for laboratory developed test.
Some of the key players profiled in the Laboratory-Developed Testing Market include Qiagen, Epic Sciences, Inc., F. Hoffmann-La Roche Ltd, Bruker Corporation, Illumina, Inc., Bio-Rad Laboratories, Inc., Eurofins Scientific, Thermo Fisher Scientific Inc., Quest Diagnostics, Siemens Healthcare Private Limited, Sonic Healthcare Ltd., Abbott Laboratories, Adaptive Biotechnologies, OPKO Health Inc., Rosetta Genomics Ltd., Guardant Health, Genoptix, Inc., and Quidel Corporation.
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