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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 | Jan 2016

Good results: The industry will benefit from scientific advances that yield new services

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
$54bn
Annual Growth 11-16
0.9%
Annual Growth 16-21
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Profit
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Employment
285,471
Businesses
26,162
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. More physicians and payers, such as Medicare, recognize the vital role diagnostic testing and disease prevention play in improving patient health and reducing healthcare costs. As a result, the trend of preventive care has stimulated demand for industry services. 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 2016, for every dollar spent on labor, the industry invests about $0.07 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
General pathology servicesClinical pathology servicesMagnetic resonance imaging (MRI) services Anatomic pathology servicesX-ray/radiography imaging 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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