- Language: English
- 144 Pages
- Published: January 2014
- Region: Global
Medical & Diagnostic Laboratoriesin the US
- Published: March 2014
- Region: United States
- 10 Pages
- First Research
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Brief Excerpt from Industry Overview Chapter:
Companies in this industry provide analysis and diagnostic services by examining body fluids and producing images of the body for medical professionals and patients. Major companies include Alliance HealthCare Services, LabCorp, Quest Diagnostics, and RadNet (all based in the US), as well as Biomnis (France), CML HealthCare (Canada), and Sonic Healthcare (Australia).
The commercial medical and diagnostic laboratory industry in the US consists of about 13,000 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $46 billion. Medical labs account for about 60 percent of industry revenue; imaging centers account for 40 percent.
Demand is linked to the number of people receiving medical treatment. The profitability of individual companies depends on efficient operations and good marketing. There are large economies of scale in the operation of medical labs, which can receive samples from a wide geographical area. Small medical labs can compete effectively by providing specialized analyses, or by serving geographical regions with few medical facilities. Imaging centers don't have similar economies of scale because they must be located close to patients, so small firms can compete effectively with large ones in a particular area.
The US industry is fragmented: the 50 largest companies account for about 40 percent of revenue. However, the medical laboratories segment is concentrated: the 50 largest companies generate about 65 percent of segment revenue. The diagnostic imaging segment is fragmented: the 50 largest companies account for about... SHOW LESS READ MORE >
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