• by bcarlson@marketresearch.com
  • January 8 2014


99 Billion Dollars In Clinical Lab Services Sold

99 Billion Dollars In Clinical Lab Services Sold

The interest in diagnostics as an industry should not be surprising; It is estimated that approximately 80% of physician’s diagnoses are a result of a lab test.   Though some physicians can conduct tests in an office lab, a fair number of these tests are sent to clinical lab service providers. There is constant pressure to reduce healthcare spending, and that in turn is shifting healthcare utilization in favor of the laboratory. All of these are drivers to the 99.1 billion-dollar clinical lab services market.  This is the market for companies peforming tests.  Quest and LabCorp are key players here, but there are smaller companies and numerous hospital labs.  The size of the market has not escaped the attention of major competitors who operate in the industry, and those planning to enter. 

Kalorama Information’s report in this area, Clinical Laboratory Services (Markets, Growth Opportunities, Competitive Analysis and Competitor Profiles  (http://www.kaloramainformation.com/Clinical-Lab-Services-7931450/) has surveyed this industry. Our report provides an in-depth market overview, a total market analysis, analysis by laboratory type, and by routine and specialty testing and a review of the latest trends driving growth. Revenues and forecasts, segment breakouts and market share presented are for the U.S. market, but international clinical lab service markets are estimated and forecasted in this report.

Healthcare reform is expected to affect this market though the report gets into the complications of this effect.  Some areas of testing may get a boosts, others may see declines.  A trend towards preventive and risk factor testing has been noted in several disciplines, particularly in the areas of oncology, endocrinology, and gynecology. Physicians in these areas are taking full advantage of testing for early detection and disease prevention.