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