Industry Analysis & Industry Trends
Healthcare has been shifting from curative care to detection, prevention and personalized care over the past five years, which has benefited the Diagnostic and Medical Laboratories industry. More physicians and payers, such as Medicare, recognize the vital role diagnostic testing and disease prevention play in improving patient health and reducing healthcare costs. As a result, the trend of preventive care has stimulated demand for industry services. In the coming years, the industry will benefit from scientific advances that yield new and improved service capabilities, coupled with the aging US population requiring more laboratory testing and diagnostic imaging services... purchase to read more
Industry Report - Industry Investment Chapter
Diagnostic and medical laboratories require substantial amounts of capital investment; however, relatively high labor costs put the industry at a low level of capital intensity. In 2016, for every dollar spent on labor, the industry invests about $0.07 in capital. While there is an increasing need for specialized, high-cost equipment in the industry, which causes capital costs to escalate, the average wage is increasing at a faster pace.
Competition has encouraged efforts to develop new tests, mechanize processes and streamline the number of staff required. Nevertheless, a large staff is still required to conduct tests and procedures and to provide marketing, collection and distribution networks... purchase to read more