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2025 U.S. Industry Statistics & Market Forecast - Medical Laboratories
Market Size & Industry Statistics
The 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 | 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 Laboratories industry include:- Increased demand for molecular diagnostics
- Growing importance of personalized medicine
- Expansion of precision medicine
- Rise in chronic diseases and aging population
- Technological advancements in diagnostic techniques
- Integration of AI and machine learning
- Expansion of telemedicine
- Increase in home-based testing kits
- Emphasis on cost-efficiency and reimbursement policies
- Regulatory and compliance pressures
- Consolidation in healthcare providers
- Shift towards preventive healthcare and wellness
- Sustainability practices and eco-friendly technologies
- Cybersecurity concerns in health data management
- Impact of global health emergencies, such as COVID-19
Product & Services Breakdown
Research 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 |
|---|---|---|---|
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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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 |
|
| 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 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. | |
| Profit Margin 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). |
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| 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. |
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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 |
||
| 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 Laboratories Competitor Landscape & Key Companies [PREMIUM]
The most influential companies in the Medical 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 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 Laboratories industry. |
Source:
Latest Industry News
- Biohazard incident shuts down Ft. Detrick research lab - The infectious disease medical research facility here at Ft. Detrick has been shut down since April pending an investigation into a "biohazard incident." (07/07/2025)
- Opinion: African surveillance labs can power polio eradication push - As my term as acting WHO regional director for Africa draws to a close, I have been reflecting on the resilience and collective commitment that have defined our region's fight against polio. (07/07/2025)
- Western Community College's in-demand Medical Laboratory Assistant Program yields real rewards - Western Community College’s MLA program welcomes students from all backgrounds – whether fresh out of high school or professionals looking for a career change. Admission requires Grade 12 or equivalent (or mature student status), a typing speed of at least 40 words per minute and proof of English proficiency. (07/07/2025)
- Tapping into the lab economy: Africa’s big opportunities in medical research and diagnostics - Analytica Lab Africa will be co-located with IFAT Africa at Gallagher Convention Centre in Midrand from 8 to 10 July 2025 (07/02/2025)
- Trinity School of Medical Laboratory Science celebrates 2025 graduates - The Trinity Health System School of Medical Laboratory Science graduated its sixth class, comprised of Mary Dagan and Alivia Miller, June 20 in the Trinity West Chapel, followed by a reception in the private dining room. (06/28/2025)
- Laying off staff. Shuttering a medical school facility. Killing lab mice. Amid Trump war, cuts ricochet across Harvard. - Labs are killing their mice to save the $1.40 per day it costs to feed each cage and clean up after. And a Harvard Medical School facility designed to create teensy devices like nanosensors — a resource for researchers on the Cambridge campus and its affiliate hospitals — is shutting down next month after 18 years. (06/27/2025)
- Collin College trustees approve new medical lab technician degree program - Collin College will offer a new Medical Laboratory Technician degree program, following unanimous approval at a June 24 board of trustees meeting. In a nutshell The Associate’s (06/27/2025)
- Medical laboratory scientist salary in Nigeria by roles and experience - The medical laboratory scientist salary in Nigeria varies by role, experience, and location, ranging from entry-level to senior positions nationwide. (06/24/2025)
- University of Iowa eyes big upgrades like $28M tech lab renovation, medical campus water tower - The University of Iowa is prioritizing a new home for computer science, major transit upgrades and for the new hospital at the Board of Regents meeting. (06/10/2025)
- What medical trial volunteers actually experience - Discover what really happens in clinical trials. From potential benefits to hidden risks, learn what participants experience in medical research. (05/26/2025)
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