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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 | Feb 2015

Strong pulse: The aging US population will boost revenue, as they require more lab testing

IBISWorld’s Diagnostic & Medical Laboratories market research report provides the latest industry statistics and industry trends, allowing you to identify the products and customers driving revenue growth and profitability. The industry report identifies the leading companies and offers strategic industry analysis of the key factors influencing the market.

Report Snapshot
Market Share of Companies
Industry Statistics & Market Size
Revenue
$55bn
Annual Growth 10-15
2.7%
Annual Growth 15-20
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Profit
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Employment
253,694
Businesses
23,803
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 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 2015, for every dollar spent on labor, the industry invests about $0.11 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

 


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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