The US Laboratory Developed Tests (LDTs) Market to Contribute $3.08 Billion Revenue Share by 2029 - Personalized Medicines Boosting the Market Opportunities - Exclusive Focus Insight Report by Arizton
The U.S. Laboratory Developed Tests (LDTs) Market Report Scope
Personalized medicines are becoming the trademark of cancer treatment. It is a constantly evolving approach based on customized treatments based on individual genetic makeup. The FDA approved 12 personalized medications in 2019 to investigate and address the root causes of the diseases, thus combining precision medicine in clinical care. LDTs play a vital role in developing personalized medicine that are likely to prove promising means of tackling diseases through effective treatments. Biopharmaceutical companies have doubled their R&D investments in personalized drugs in the last few years, and they are further expected to increase their investments by 33% in the next five years. The rising demand for personalized medicine offers significant growth opportunities for the growth of the vendors operating in the laboratory developed tests market.
Key Points
Competitive Landscape
Intense competition characterizes the laboratory developed tests (LDTs) market, driven by manufacturers and developers striving for innovation and distinctiveness. Among the approximately 267,000 lab facilities in the US, only 12,000 CLIA certified laboratories can develop and utilize LDTs. Furthermore, the expansion of operations by health system laboratories has increased competition for clinical laboratory testing from physicians within these health systems and unaffiliated physicians in their service areas. Investment and innovation in the Laboratory Developed Test (LDT) sector are on the rise, driven by the improving precision and efficacy of these tests in disease detection and diagnosis. Major independent laboratories such as LabCorp and Quest Diagnostics are significant players in the US market, alongside several international independent clinical laboratories competing with smaller domestic vendors. Notable competitors in the US clinical laboratory tests market include LabCorp, Quest Diagnostics, Sonic Healthcare, and OPKO Health.
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Segmentation & Forecast
Vendors List
Key Questions Answered in the Report:
Q. How big is the U.S. laboratory developed tests market?
Q What is the growth rate of the U.S. laboratory developed tests market?
Q. What are the key trends in the U.S. laboratory developed tests (LDTs) market?
Table of Content
CHAPTER – 1: Laboratory Developed Tests Market Overview
CHAPTER – 2: Laboratory Developed Tests Market
CHAPTER – 3: Laboratory Developed Tests Market Segmentation Data
CHAPTER – 4: Laboratory Developed Tests Market Prospects & Opportunities
CHAPTER – 5: Laboratory Developed Tests Industry Overview
CHAPTER – 6: Appendix
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 Market to Contribute $3.08 Billion Revenue Share by 2029 - Personalized Medicines Boosting the Market Opportunities - Exclusive Focus Insight Report by Arizton)
