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|Market Size (industry trends)|
|Market Forecast (5-year projection)|
|Revenue per State|
|Salary & Compensation Statistics|
|Public Company Information|
|Key Private Companies|
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2018 Market Analysis & Industry Outlook: Medical Laboratories
Overview of the U.S. Medical Laboratories IndustryThis section provides answers to key questions about the industry:
- What is the total market size (industry revenue)?
- What is the industry outlook?
- Market Analysis: Is the market growing or declining, and how quickly?
- Are long-term forecasts positive or negative?
- What is the average company size in the industry?
- How many companies are in the industry?
Market Size & Industry StatisticsThe total U.S. industry market size for Medical Laboratories: Industry statistics cover all companies in the United States, both public and private, ranging in size from small businesses to market leaders. In addition to revenue, the industry market analysis shows information on employees, companies, and average firm size.
Investors, banks, and business executives use growth rates and industry trends to understand the market outlook and opportunity.
|Statistics||2012 2013 2014 2015 2016 2017|
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|Average Revenue Per Firm|
|Average Employees Per Firm|
Market Forecast[PREMIUM]Market forecasts show the long term industry outlook and future growth trends. The following five-year demand forecast projects both short-term and long-term trends.
|Forecast / Industry Outlook||2017||2018||2019||2020||2021||2022|
|Market Forecast ($ millions)|
|Projected Industry Growth Rate (%)|
Product & Services BreakdownResearch products and services in the Medical Laboratories industry generating sales. Note that products are broken into categories with different levels of classification.
|Product Description||Number of Companies||Sales ($ millions)||Percent of Total Sales|
Clinical Pathology Services
General Pathology Services
Diagnostic Imaging Services
Rental Or Lease Of Goods And/Or Equipment
Rental Or Lease Of - All Other Goods And/Or Equipment
All Other Receipts
All Other Operating Receipts
U.S. Geographic Distribution: Revenue Statistics by StateMarket Size by State ($ millions) indicates how the industry's competition is distributed throughout the country. State-level information can identify areas with higher and lower industry market share than average.
Medical Laboratories Industry Price TrendsRise and fall in market prices are affectedd by supply, demand, and the cost of goods/services sold. Higher demand or COGS will put upward price pressure on prices. Higher competition among Medical Laboratories companies will put a downward pressure on prices. The chart shows how prices are changing within the industry, month-to-month over the last three years.
Income Statement (Average Financial Metrics)Financial metrics provide a snapshot view of a benchmark "average" company. Key business metrics show revenue and operating costs. The data collected covers both public and private companies.
|Industry Average||Percent of Sales|
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|Cost of Goods Sold|
|Pension, profit sharing plans, stock, annuity|
|Rent paid on business property|
|Domestic production activities deduction|
|Compensation of officers|
|Salaries and wages|
|Employee benefit programs|
|Taxes and Licenses|
|Other Operating Expenses|
|Total Operating Expenses|
|EBIT (Earnings Before Interest and Taxes)|
|Earnings Before Taxes|
Financial Ratio AnalysisFinancial ratio information can be used to benchmark how a Medical Laboratories company compares to its peers. Accounting statistics are calculated from the industry-average for income statements and balance sheets.
|Profitability & Valuation Ratios||Industry Average|
|Company valuation can be measured based on the firm's own performance, as well as in comparison against its industry competitors. These metrics show how the average company in the Medical Laboratories industry is performing.|
Gross Profit Margin, Operating Profit Margin, and Net Profit Margin. Show company earnings relative to revenues.
|Return on Equity (ROE)
Return on Equity (ROE) is net income as a percentage of shareholders' equity. Shareholders' Equity is defined as the company's total assets minus total liabilities. ROE shows how much profits a company generates with the money shareholders invested (or with retained earnings).
|Return on Assets (ROA)
Return on Assets (ROA) is net income relative to total assets. The market research on Medical Laboratories measures how efficiently the company leverages its assets to generate profit. ROA is calculated as Net Income divided by Total Assets.
|Liquidity Ratios||Industry Average|
|Bankers and suppliers use liquidity to determine creditworthiness and identify potential threats to a company's financial viability.|
Measures a firm's ability to pay its debts over the next 12 months.
|Quick Ratio (Acid Test)
Calculates liquid assets relative to liabilities, excluding inventories.
|Efficiency Ratios - Key Performance Indicators||Industry Average|
|Measure how quickly products and services sell, and effectively collections policies are implemented.|
|Receivables Turnover Ratio
If this number is low in your business when compared to the industry average in the research report, it may mean your payment terms are too lenient or that you are not doing a good enough job on collections.
|Average Collection Period
Based on the Receivables Turnover, this estimates the collection period in days. Calculated as 365 divided by the Receivables Turnover
A low turnover rate may point to overstocking, obsolescence, or deficiencies in the product line or marketing effort.
Generally, higher is better, since it indicates the business has less money tied up in fixed assets for each dollar of sales revenue.
Compensation & Salary Surveys for EmployeesCompensation statistics provides an accurate assessment of industry-specific jobs and national salary averages. This information can be used to identify which positions are most common, and high, low, and average annual wages.
|Title||Percent of Workforce||Bottom Quartile||Average (Median) Salary||Upper Quartile|
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|General and Operations Managers||1%|
|Healthcare Practitioners and Technical Occupations||42%|
|Health Technologists and Technicians||38%|
|Clinical Laboratory Technologists and Technicians||24%|
|Medical and Clinical Laboratory Technologists||12%|
|Medical and Clinical Laboratory Technicians||12%|
|Diagnostic Related Technologists and Technicians||13%|
|Healthcare Support Occupations||17%|
|Other Healthcare Support Occupations||16%|
|Miscellaneous Healthcare Support Occupations||16%|
|Office and Administrative Support Occupations||25%|
|Information and Record Clerks||7%|
Medical Laboratories Industry Market Share [PREMIUM]Largest companies in the industry and related industries, with private company revenue estimates.
|Clarient Diagnostic Services||39|
|National Medical Services||27|
Additional companies, details and innovation scoring in the full report.
Latest Industry News
- Understanding Compounding Pharmacy with Two Medical Experts - including the Brigade of Guards Medical Center in Abuja, the Department of Medico-Legal Services in Johannesburg, Abbot Laboratories, Pharmacia (which merged with Pfizer, another global pharmaceutical giant, in 2003), and NYU Hospital. (01/10/2018)
- North Dakota medical marijuana rules poised for approval - The North Dakota Compassionate Care Act allows the use of the drug for 17 medical conditions ... unveiled 50 pages of proposed administrative rules to cover such things as lab testing, security requirements and transportation regulations, and the ... (01/10/2018)
- Crises in the Capitol: Infrastructure, Crime Lab, Not Enough Money to Cover Needs - Crime Lab Director Sam Howell told senators last week that he will be down to just one medical examiner in a few months. The state would need seven to meet national standards. In the most recent fiscal year, the medical examiner's office performed just ... (01/10/2018)
- Massachusetts radiology lab loses medical records of about 9,400 patients - FRAMINGHAM, Mass. -- A Massachusetts radiology lab says it has lost a portable hard drive that may contain the personal information and X-ray images of almost 9,400 patients. Charles River Medical Associates, based in Framingham, mailed letters this week ... (01/10/2018)
- Aeon Global Health Names Armando Moncada, MD, FCAP as Chief Medical Officer of its Anatomic Pathology Business - He continues to serve as a CAP inspector for the College of American Pathologists and understands the changing needs of the medical community and laboratory industry. Dr. Moncada also has a special interest in the laboratory industry and healthcare ... (01/10/2018)
- Global medical IT market estimated to grow at 7% CAGR by 2022 detailed in new research report - Key players in the global Medical IT market are Essillor International, Stryker, General Electric. Roche, Abbott Laboratories, Covidien, Philips, Medtronics, Siemens among others. Leading players operating in this market are collaborating with other key ... (01/10/2018)
- Sphinx Medical Technologies Inc. Launches the Android Version of 'Call My Doc' - Call My Doc ™ is a managed service with mobile apps that is able to integrate with all electronic medical records to replace telephone based answering services. Patient medications, allergies, labs and history, all will appear on doctor's exquisitely ... (01/10/2018)
- Quest Diagnostics to Acquire Shiel Medical Laboratory from Fresenius Medical Care - Transaction to expand access to Quest's diagnostic innovations in the New York-New Jersey metropolitan area SECAUCUS, N.J., Sept. 28, 2017 /PRNewswire/ -- Quest Diagnostics (DGX), the world's leading provider of diagnostic information services, today ... (09/28/2017)
- Medical labs not accredited - DESPITE increasing pressure from Caricom for mandatory accreditation, none of Jamaica's 65 medical laboratories has been accredited, and the Medical Laboratories 2005 Act, which would help to streamline this process, is yet to be passed into law. (10/22/2012)
Government ContractsIn 2016, the federal government spent a total of $261,810,296 on Medical Laboratories. It has awarded 4,559 contracts to 505 companies, with an average value of $518,436 per company.
Top government vendors:
|Company||Federal Contracts||Total Award Amount|
Growth Opportunities / Competitive ThreatsCompanies in other industries may also sell similar products. Since there is an overlap in the customer base, there may be an opportunity for companies in Medical Laboratories to sell additional products/services offered by these adjacent industries. Alternatively, these industries may identify further products in this industry to target. Products most at risk are those with the highest profit margins and lowest barriers to entry.
The following industries are competing channels for sales of similar products/services.
|Competing Industry||Sales Relative to Medical Laboratories||Opportunity/Threat|
|Physical, Occupational & Speech Therapists & Audiologists||Competing industry|
|Diagnostic Imaging Centers||Competing industry|
|Kidney Dialysis Centers||Competing industry|
Sales from other industries of Patient Care are less than those from Medical Laboratories. This may mean that other channels are a competitive risk of increasing their Patient Care sales, taking market share from this industry.
Patient Care Product Sales Report
Segments classified within this market research reportThis industry market research report includes companies whose primary business is any of the following:
Toxicology health laboratories, Medical laboratories (except radiological, X-ray), Bacteriological laboratories, medical, Urinalysis laboratories, Pathology laboratories, Testing laboratories, Mycology health laboratories, Genetic testing laboratories, Cytology health laboratories, Laboratory testing services, medical (except radiological, Laboratories, Pathological analysis laboratories, DNA testing laboratories, Biological laboratories, diagnostic, Forensic laboratories, Blood analysis laboratories, Parasitology health laboratories, Medical pathology laboratories, etc.