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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 | Oct 2014

Normal range: Increasing insurance coverage and an aging population will boost demand

The Diagnostic & Medical Laboratories market research report provides key industry analysis and industry statistics, measures market size, analyzes current and future industry trends and shows market share for the industry’s largest companies. IBISWorld publishes the largest collection of industry reports so you can see an industry’s supply chain, economic drivers and key buyers and markets.

Report Snapshot
Market Share of Companies
Industry Statistics & Market Size
Revenue
$53bn
Annual Growth 09-14
3.0%
Annual Growth 14-19
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Profit
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Employment
252,493
Businesses
24,174
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. Moreover, the trend of preventive care stimulates demand for industry services, as more physicians monitor patients' blood and tissue, and test for health ailments with technology like MRI scans. However, the recession caused fewer individuals to have employer mandated health insurance and greatly limited industry revenue growth over the period. Nevertheless, during the next five years, the industry is expected to benefit from healthcare reform and the growing aging population, which will, in turn, boost revenue... purchase to read more

Industry Report - Industry Key Buyers Chapter

The Diagnostic and Medical Laboratories industry exhibits a low level of concentration, with the top four players accounting for an estimated 27.3% of industry revenue in 2014. However, market leaders Quest Diagnostics and Laboratory Corp of America generate about 25.0% of total industry revenue. Over the past five years, consolidation has increased, particularly in the laboratory segment, but the industry still remains highly fragmented.

The laboratory business model is highly based on fixed costs, which allows laboratories to benefit from large-scale operations and larger volumes. About 20.0% to 22.0% of the costs are variable (primarily supplies and bad debt); though more sizeable operators can purchase supplies at a discount... 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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