Industry Analysis & Industry Trends
Medical laboratories fared well during the recession due to the necessary nature of their services and the aging US population, which requires a greater need for medical testing. The industry can expect much of the same in the coming years, particularly after the 2010 healthcare reform bill takes full effect. With more people receiving health insurance, demand for medical testing will increase. Scientific advances will continue to yield new and improved service capabilities, and the aging US population will require more and better laboratory testing and diagnostic imaging services... purchase to read more
Industry Report - Industry Analysis Chapter
Much of the focus in healthcare in the United States has been shifting from curative care to detection, prevention and personalized care. More physicians, consumers and payers recognize the value of diagnostic testing and disease prevention as a means to improve health and reduce the overall cost of healthcare. This mounting awareness dulled the economic recession's potentially adverse effects on the Diagnostic and Medical Laboratories industry. Revenue growth slowed in 2008, partly due to high unemployment during the year, which reduced disposable income and the number of people with health insurance coverage. Thus, healthcare expenditure declined as a result of fewer physician visits and the subsequent referrals to diagnostic laboratories... purchase to read more