United States Clinical Laboratory Services Growth Opportunities

United States Clinical Laboratory Services Growth Opportunities

Advanced Molecular Diagnostics and At-Home Testing are Growth Prerequisites

RELEASE DATE
28-Feb-2022
REGION
North America
Deliverable Type
Market Research
Research Code: PC06-01-00-00-00
SKU: HC03513-NA-MT_26317
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Description

The United States spends more than $3 trillion—nearly 18% of GDP—on healthcare, a massive sector. Healthcare value chain participants face dynamic environments that several trends impact, including the rise in the aging population (16.9% in 2020); chronic disease burden; regulatory challenges; integration across the care continuum; migration to value-based and accountable care models; payer and provider consolidation; new and increased access to data, innovation, and technology; and increasing levels of consumer engagement and expectations.

Frost & Sullivan offers an in-depth analysis of the market disruption caused by SARS-CoV-2, the virus that causes COVID-19, in laboratory-based diagnostics, healthcare, and biotechnology companies. We studied the impact caused by macro and microeconomic factors on the hospital, clinic, and physician office testing; technology adoption; medical innovation; customer value chain compression; and competitive intensity. The report also highlights current market trends, opportunities, weaknesses, growth drivers, and restraints. Based on data-driven insights, we expect the United States Clinical Laboratory Services Market to record a 2.6% CAGR from 2020 to 2026.

2020 was a rollercoaster year for laboratories—and every aspect of healthcare—that brought quick, disruptive, and dramatic changes. There is no sign of these changes slowing down anytime soon. Now is the time for all laboratories to focus on capitalizing on growth opportunities and effectively managing any headwinds that may arise.

Author: Tejashri Khadilkar

Table of Contents

Why Is It Increasingly Difficult to Grow?

The Strategic Imperative 8™

The Impact of the Top Three Strategic Imperatives on the US Clinical Laboratory Services Market

Growth Opportunities Fuel the Growth Pipeline Engine™

Scope of Analysis

Segmentation

Opportunity and Threat Analysis—Hospital-based Laboratories and POLs

Opportunity and Threat Analysis—Reference and Specialty Laboratories

Market Landscape

Trends

Trends (continued)

Key Growth Metrics

Growth Drivers

Growth Drivers (continued)

Growth Restraints

Top 10 Forecast Assumptions for 2022

Revenue Forecast

Revenue Forecast by Laboratory Type

Revenue Forecast Analysis

Market Share Analysis

Market Share Analysis (continued)

Market Share Analysis (continued)

A Holistic

Cross Sectoral Partnership for Value-added Services and Data-driven Diagnostics

Labcorp (Independent Reference Laboratory)

Quest Diagnostics (Independent Reference Laboratory)

Sonic Healthcare (Independent Reference Laboratory)

Myriad Genetics, Inc. Life Science (Independent Specialty Laboratory)

Exact Sciences (Independent Specialty Laboratory)

Mayo Clinic Labs (Hospital-based Laboratory)

Cleveland Clinic (Hospital-based Laboratory)

UroPartners (POL)

Care Mount Medical (Physician Owned Laboratory)

Growth Opportunity 1—Diversify in Newer Therapy with Innovative Diagnostic Tests

Growth Opportunity 1—Diversify in Newer Therapy with Innovative Diagnostic Tests (continued)

Growth Opportunity 2—Create Patient-centered Access to Virtual Care with At-home Testing, Telehealth, and Hospital-at-home Services

Growth Opportunity 2—Create Patient-centered Access to Virtual Care with At-home Testing, Telehealth, and Hospital-at-home Services (continued)

Growth Opportunity 3—Monetize Data with Value-based Services

Growth Opportunity 3—Monetize Data with Value-based Services (continued)

Growth Opportunity 4—Expand Network in Emerging Markets through M&A or Collaboration

Growth Opportunity 4—Expand Network in Emerging Markets through M&A or Collaboration (continued)

Growth Opportunity 5—Venture into New Markets such as Biobanking with LIMS Platform

Growth Opportunity 5—Venture into New Markets such as Biobanking with LIMS Platform (continued)

Takeaways

Abbreviations and Acronyms

List of Exhibits

Legal Disclaimer

The United States spends more than $3 trillion—nearly 18% of GDP—on healthcare, a massive sector. Healthcare value chain participants face dynamic environments that several trends impact, including the rise in the aging population (16.9% in 2020); chronic disease burden; regulatory challenges; integration across the care continuum; migration to value-based and accountable care models; payer and provider consolidation; new and increased access to data, innovation, and technology; and increasing levels of consumer engagement and expectations. Frost & Sullivan offers an in-depth analysis of the market disruption caused by SARS-CoV-2, the virus that causes COVID-19, in laboratory-based diagnostics, healthcare, and biotechnology companies. We studied the impact caused by macro and microeconomic factors on the hospital, clinic, and physician office testing; technology adoption; medical innovation; customer value chain compression; and competitive intensity. The report also highlights current market trends, opportunities, weaknesses, growth drivers, and restraints. Based on data-driven insights, we expect the United States Clinical Laboratory Services Market to record a 2.6% CAGR from 2020 to 2026. 2020 was a rollercoaster year for laboratories—and every aspect of healthcare—that brought quick, disruptive, and dramatic changes. There is no sign of these changes slowing down anytime soon. Now is the time for all laboratories to focus on capitalizing on growth opportunities and effectively managing any headwinds that may arise. Author: Tejashri Khadilkar
More Information
Deliverable Type Market Research
No Index No
Podcast No
Author Tejashri Manish Khadilkar
Industries Healthcare
WIP Number PC06-01-00-00-00
Is Prebook No
GPS Codes 9600-B1,9562-B1,9568-B1,9611-B1,9627-B1