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Diagnostic & Medical Laboratories in the US: Market Research Report

Market Research • Market Size • Industry Statistics • Industry Analysis • Industry Trends

Diagnostic & Medical Laboratories Market Research Report | NAICS 62151 | Jun 2015

Strong pulse: The aging population and ongoing preventive care will strengthen industry revenue

IBISWorld’s Diagnostic & Medical Laboratories market research report is a comprehensive guide to market size and growth prospects. Our industry reports offer strategic industry analysis of the factors influencing companies, including new product developments, economic, lifestyle and demographic influences, distribution and supply chain factors and pricing issues. Full analysis accompanies our data forecasts to illustrate how the market responds to emerging industry trends.

Report Snapshot
Market Share of Companies
Industry Statistics & Market Size
Revenue
$53bn
Annual Growth 10-15
0.4%
Annual Growth 15-20
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Profit
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Employment
285,906
Businesses
26,636
Industry Analysis & Industry Trends

Diagnostic and medical laboratories are an integral part of patients' medical evaluation and treatment. Laboratories are vital to the healthcare sector due to industry operators providing healthcare practitioners with information concerning the onset, severity and cause of patients' ailments and illnesses. Over the past five years, Medicare and Medicaid, which includes coverage for most clinical diagnostic laboratory services, have bolstered industry growth. 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 - Starting a New Business Chapter

Barriers to entry in this industry are moderate, although they vary by segment. For instance, barriers are higher in the medical laboratory segment. A significant barrier is the requirement for licensure, certification and accreditation, which can raise the cost of entry. In addition, certificate-of-needs laws in some states can restrict new supply in these states.

The cost of establishing a new business can be high, mostly due to the cost of equipment. The establishment of a viable service network, a referral base, systems and a trained workforce can be costly and time intensive. Regulation accreditation and compliance can also be relatively high-cost... purchase to read more

 


Industry ProductsRelated ReportsTable of Contents

What is the Diagnostic & Medical Laboratories Industry?

Operators in this industry provide analytic services to identify or determine the nature and cause of a disease or injury, through the evaluation of a patient’s history, examination and data. These services are provided to healthcare providers or patients upon referral from health practitioners.

Industry Products
Routine medical testingEsoteric medical testingAnatomical pathology testingDiagnostic imaging servicesOther services
 
Industry Activities
Operating diagnostic imaging centersOperating dental or medical X-ray laboratoriesOperating medical forensic laboratoriesOperating medical testing laboratoriesOperating blood analysis laboratoriesOperating medical bacteriological laboratoriesOperating computer tomography (CT-scan) centersOperating magnetic resonance imaging (MRI) centersOperating medical radiological laboratoriesOperating ultrasound imaging centers


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