Clinical diagnostic lab testing market to almost double through 2017
A new study from market research firm Washington G-2 Reports indicates the clinical diagnostic lab testing market will reach $98.4 billion in revenue by 2017.
An increase in genetic testing, esoteric testing, consumer driven healthcare, aging demographics and expanded access to healthcare are among the key factors contributing to strong market growth.
“Lab Industry Strategic Outlook: Market Trends & Analysis 2009” shows key factors contributing to the rapid evolution of the clinical diagnostic lab testing industry, including the M&A wave that hit the industry over the past two years.
Together, Quest, LabCorp and Sonic Healthcare snapped up 21 acquisitions in 24 months. Washington G-2 Reports expects they will monopolize the industry for some time.
The study offers opinions on how contemporary trends will shape the structure and growth of the laboratory industry. This includes analysis of four key providers (hospital, independent laboratory, physician offices and 'other' services), five primary markets (Medicare, Medicaid, esoteric testing, anatomic pathology and cytology, and workplace drug testing) and penetration into new markets.
