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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

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 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 - 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 28.7% of industry revenue in 2015. However, market leaders Quest Diagnostics and Laboratory Corp of America generate about 26.1% 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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