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2025 U.S. Industry Statistics & Market Forecast - Medical and Diagnostic Laboratories
Market Size & Industry Statistics
The total U.S. industry market size for Medical and Diagnostic 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 | 2020 2021 2022 2023 2024 | |
|---|---|---|
| Market Size (Total Sales/Revenue) |
Order at top of page | |
| Total Firms | ||
| Total Employees | ||
| Average Revenue Per Firm | ||
| Average Employees Per Firm | ||
| Average Revenue Per Employee | ||
Market Forecast
Market forecasts show the long term industry outlook and future growth trends. The following extended five-year forecast projects both short-term and long-term trends.
| Forecast / Industry Outlook | 2025 | 2026 | 2027 | 2028 | 2029 |
|---|---|---|---|---|---|
| Market Forecast ($ millions) | |||||
| Projected Industry Growth Rate (%) | |||||
Industry Insights
Major trends affect the Medical and Diagnostic Laboratories industry include:- Increased demand for personalized medicine and genetic testing
- Expansion of telemedicine and remote diagnostics
- Growing use of big data and artificial intelligence for diagnostic accuracy
- Heightened regulatory scrutiny and compliance requirements
- Rising healthcare costs influencing laboratory service pricing
- Integration of advanced technologies like CRISPR and next-gen sequencing
- Increasing importance of cybersecurity measures in protecting patient data
- Greater focus on preventive care and wellness testing
- Expansion into global markets, especially in developing regions
- Shift towards multiplex testing to reduce costs and time
Product & Services Breakdown
Research products and services in the Medical and Diagnostic 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 |
|---|---|---|---|
Industry Total |
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Laboratory Services |
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Anatomic Pathology |
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Clinical Pathology Services |
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General Pathology Services |
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Diagnostic Imaging Services |
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X-Ray/Radiography Imaging, Including Fluoroscopy And Mammography |
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Magnetic Resonance Imaging (Mri) |
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Computed Tomography (Ct) Scanning |
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Nuclear Medicine Scanning, Including Pet/Ct |
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Ultrasound Imaging |
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Electroencephalography (Eeg), Magnetoencephalography (Meg), Electrocardiography (Ekg) |
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Other Diagnostic Imaging Services |
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Rental Or Lease Of Goods And/Or Equipment |
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Rental Or Lease Of - All Other Goods And/Or Equipment |
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All Other Receipts |
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All Other Operating Receipts |
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U.S. Geographic Distribution: Revenue Statistics by State
Market 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.
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 (Industry Benchmark) |
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|---|---|---|
| Total Revenue | Order at top of page |
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| Operating Revenue | ||
| Cost of Goods Sold | ||
| Gross Profit | ||
Operating Expenses | ||
| Pension, profit sharing plans, stock, annuity | ||
| Repairs | ||
| Rent paid on business property | ||
| Charitable Contributions | ||
| Depletion | ||
| Domestic production activities deduction | ||
| Advertising | ||
| Compensation of officers | ||
| Salaries and wages | ||
| Employee benefit programs | ||
| Taxes and Licenses | ||
| Bad Debts | ||
| Depreciation | ||
| Amortization | ||
| Other Operating Expenses | ||
| Total Operating Expenses | ||
| Operating Income | ||
| Non-Operating Income | ||
| EBIT (Earnings Before Interest and Taxes) | ||
| Interest Expense | ||
| Earnings Before Taxes | ||
| Income Tax | ||
| Net Profit Net Income | ||
Financial Ratio Analysis
Financial ratio information can be used to benchmark how a Medical and Diagnostic 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 and Diagnostic Laboratories industry is performing. | |
| Profit Margin Gross Profit Margin, Operating Profit Margin, and Net Profit Margin. Show company earnings relative to revenues. |
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| 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). |
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| Return on Assets (ROA) Return on Assets (ROA) is net income relative to total assets. The market research on Medical and Diagnostic Laboratories measures how efficiently the company leverages its assets to generate profit. ROA is calculated as Net Income divided by Total Assets. |
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| Liquidity Ratios | Industry Average |
|---|---|
| Bankers and suppliers use liquidity to determine creditworthiness and identify potential threats to a company's financial viability. | |
| Current Ratio Measures a firm's ability to pay its debts over the next 12 months. |
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| Quick Ratio (Acid Test) Calculates liquid assets relative to liabilities, excluding inventories. |
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| 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. |
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| Average Collection Period Based on the Receivables Turnover, this estimates the collection period in days. Calculated as 365 divided by the Receivables Turnover |
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| Inventory Turnover A low turnover rate may point to overstocking, obsolescence, or deficiencies in the product line or marketing effort. |
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| Fixed-Asset Turnover Generally, higher is better, since it indicates the business has less money tied up in fixed assets for each dollar of sales revenue. |
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Compensation & Salary Surveys for Employees
Compensation 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 |
|---|---|---|---|---|
| Management Occupations | 6% | Order at top of page |
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| Chief Executives | 0% | |||
| General and Operations Managers | 1% | |||
| Healthcare Practitioners and Technical Occupations | 40% | |||
| Health Technologists and Technicians | 35% | |||
| Clinical Laboratory Technologists and Technicians | 22% | |||
| Diagnostic Related Technologists and Technicians | 11% | |||
| Radiologic Technologists and Technicians | 5% | |||
| Healthcare Support Occupations | 18% | |||
| Other Healthcare Support Occupations | 18% | |||
| Miscellaneous Healthcare Support Occupations | 18% | |||
| Phlebotomists | 15% | |||
| Office and Administrative Support Occupations | 22% | |||
| Information and Record Clerks | 7% | |||
| Material Recording, Scheduling, Dispatching, and Distributing Workers | 5% | |||
Medical and Diagnostic Laboratories Competitor Landscape & Key Companies [PREMIUM]
The most influential companies in the Medical and Diagnostic Laboratories industry and adjacent industries either have large market share or are developing new business models and methods that could disrupt the status quo. We look at leading and emerging companies in the Medical and Diagnostic Laboratories industry and adjacent sectors:| Market Leaders: Direct Competitors Companies with the largest market share, focused in this industry |
Market leaders: Diversified Competitors Largest companies that have diversified operations in this and other industries |
| Innovators: Direct Competitors Innovative, Emerging, and Disruptive Companies that may influence the future direction of the industry. |
Innovators: Diversified Competitors Innovators and Disruptors in adjacent industries that may also affect the Medical and Diagnostic Laboratories industry. |
Source:
Latest Industry News
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- Allergy Diagnostics Market Revenue Growth 2025, Latest Trends, Development Strategies and Share Forecast to 2035 - The global Allergy Diagnostics Market is valued at USD 5.99 billion in 2024 and is projected to reach a value of USD 13.48 billion by 2035 at a CAGR (Compound Annual Growth Rate) of 7.66% between 2025 and 2035. (07/08/2025)
- Foundation stone laid for Viral Research Diagnostic Lab in Kurnool - The Minister was here to lay the foundation stone for a Viral Research Diagnostic Lab (VRDL) on the premises of Kurnool Medical College. He said both the GGH and the medical college are prestigious institutions that produced several eminent doctors. “We are taking steps to develop the hospital on a par with corporate hospitals,” he said. (07/05/2025)
- A pathway toward better oversight for high-level disease research labs - Biosafety level (BSL)-3 facilities exist in a diffuse regulatory environment, where requirements depend on factors such as the kinds of pathogens under study, the type of research being conducted, and even where a lab is located. (07/03/2025)
- Medical Supplierz Introduces Simplified B2B Platform For Laboratory Equipment Trade - We're redefining lab procurement by uniting global suppliers and buyers in one platform, unlocking efficiency, data-driven insights, and (07/02/2025)
- Virohan partners with Orange Health Labs to offer diagnostic internships and jobs - Virohan partners with Orange Health Labs to provide diagnostic internships and job opportunities for Medical Laboratory Technology students across 76 cities in India, addressing the growing demand for skilled professionals in the healthcare sector. (06/24/2025)
- NABL accreditation for HIV testing laboratory in Kozhikode medical college - The HIV Testing Laboratory functioning under the Microbiology Department of Kozhikode Medical College, managed by the Kerala AIDS Control Society, has been accredited by the National Accreditation Board for Testing and Calibration Laboratories (NABL) as per ISO 15189:2022 standards. (06/21/2025)
- SFDA Launches Initiative to Develop Diagnostic Devices, 3D Printing in Hospitals, Medical Laboratories - Riyadh, October 23, 2024, SPA --Chief Executive Officer of the Saudi Food and Drug Authority (SFDA) Hisham bin Saad Aljadhey launched an initiative on Wednesday to develop medical diagnostic laboratory devices and 3D printing within hospitals and medical ... (05/22/2025)
- The US hasn't seen a human bird flu case in 3 months. Experts are wondering why - During a call with U.S. doctors this month, one CDC official noted that there is a seasonality to bird flu: Cases peak in the fall and early winter, possibly due to the migration patterns of wild birds that are primary spreaders of the virus. (05/20/2025)
- Experts decry lack of practical facilities for medical lab students - Experts have decried the growing shortage of practical facilities across many universities, saying the development is impacting the quality of training for medical laboratory science students in Nigeria. (05/20/2025)
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