Operators in the Diagnostic and Medical Laboratories industry 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. Furthermore, the aging population and the movement toward preventive care have stimulated demand for industry services. For example, as more elderly patients received preventive screening tests, many required laboratory services to address irregular screening results. On the other hand, industry consolidation has boosted industry profitability due to larger operations enabling laboratories to share their research and development expenditures and secure large-scale contracts with hospitals that lack in-house laboratory testing. In the five years to 2021, 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.
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.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.