"Designing Growth Strategies is in our DNA"

U.S. Clinical Laboratory Services Market Size, Share & Industry Analysis, By Test Type (Clinical Chemistry, Hematology, Genetic Testing, Microbiology & Cytology, and Others), By Age (Pediatric and Adult), By Source of Payment (Public, Private, and Out of Pocket), and By Service Provider (Hospital-based Laboratories, Stand-alone Laboratories, Clinic-based Laboratories, and Others), and Country Forecast, 2024-2032

Last Updated: September 30, 2024 | Format: PDF | Report ID: FBI107909

 

KEY MARKET INSIGHTS

Play Audio Listen to Audio Version

The U.S. clinical laboratory services market size was worth USD 101.73 billion in 2023 and is projected to grow at a CAGR of 7.3% during the forecast period. 


The U.S. has witnessed significant healthcare expenditure and growing demand for clinical laboratory tests for regular body check-ups and other long-term disorders. Similarly, the growing incidence of chronic and infectious diseases among the adult population is expected to increase the demand for clinical laboratory type of services. Also, the growing burden of diagnostic procedures contributes to clinical laboratory services in the U.S.



  • According to Research Institute Foundation (2022), the undiagnosed diabetes population was around 8.5 million in the U.S. in 2021.  


Growing awareness regarding early diagnosis and reimbursement support by the public and private sectors is augmenting the clinical laboratory service adoption in the market. The COVID-19 pandemic positively impacted the market in 2020. This positive impact was due to the rising number of COVID-19 testing in the U.S. Also, major players experienced positive growth in their revenue due to increased patient visits during the pandemic.


LATEST TRENDS


Advancements in Lab Automation with an Aim to Provide Superior Services


The U.S. market is witnessing an increased focus and initiatives by prominent key players on developing automated clinical diagnostic labs and healthcare systems. Automation techniques and advanced machinery have become pervasive in clinical laboratory services.


In September 2022, Scitara Corporation announced a partnership with Agilent Technologies, Inc., to integrate its Scientific Integration Platform (SIP) with Agilent’s Software and Informatics Division portfolio of products, including chromatography software and lab workflow management solutions.


DRIVING FACTORS


Growing Prevalence of Chronic Disorders to Drive Market Growth


The mounting prevalence of chronic and infectious diseases, such as cystic fibrosis, sickle cell, Down Syndrome, and breast cancer, is projected to surge the demand for clinical laboratory services. Furthermore, the upsurge in the prevalence of chronic disorders has further led to an increasing number of hospitalizations and clinical laboratory tests prescribed by medical practitioners. For instance, according to an article published by National Center for Biotechnology Information (NCBI) in April 2023, 129,624 genetic tests were made available in the U.S., including updated versions of the previously existing ones.


Such substantial demand for early diagnosis, coupled with rising demand for clinical laboratory services, is contributing to the U.S. clinical laboratory services market growth.


RESTRAINING FACTORS


Request a Free sample to learn more about this report.


Pricing Pressure for Clinical Lab Tests Services to Hinder Market Expansion


The increasing demand for clinical laboratory tests might get hampered by several factors in the coming years. The increasing pricing pressure is one of the major factors, which is anticipated to hinder the market growth. The diagnostic industry is witnessing immense pricing pressure, mainly due to the diagnostic segment's deep discounting and unacceptable pricing practices.


For instance, in September 2022, in the U.S., 4 in 10 people deferred healthcare in the past year, with 28.0% delaying or canceling a medical procedure and 17.0% not filling a prescription due to the non-affordable pricing of tests in the region. Thus, the increasing pricing pressure for clinical laboratory services is anticipated to limit the market growth during the forecast period.


According to the Centers for Disease Control and Prevention, 2022, in the U.S., an estimated 28.7 million people (28.5% of the population) were diagnosed with diabetes, and around 8.5 million are undiagnosed.


SEGMENTATION


By Test Type Analysis


Based on test type, the market is segmented into clinical chemistry, hematology, genetic testing, microbiology & cytology, and others.


The clinical chemistry segment held the largest share in 2022 majorly due to the increasing prevalence of cardiovascular diseases, diabetes, and hormonal disorders across the U.S. Furthermore, the surge in the number of diagnostic labs in the country is expected to propel the market in the future.



  • For instance, in an article published by the Centers for Disease Control and Prevention (CDC) in May 2023, Every year, about 805,000 people in the U.S. have a heart attack, and about 1 in 20 adults age 20 and older have coronary artery disease (CAD).


Such growing cases of chronic conditions in which clinical chemistry testing is necessary are expected to boost the U.S. market.


By Age Analysis


Based on age, the market is segmented into pediatric and adult.


The adult segment held a comparatively larger share in 2022. The growth of this segment is attributed to the rising number of adult patients visiting clinical laboratories, which is anticipated to drive the segment growth during the forecast timeframe. The adult or geriatric population is more prone to chronic and infectious diseases. Also, rising cardiac disorders and tuberculosis cases among adults are expected to drive the U.S. market.



  • For instance, in March 2023, according to a report published by the Centers for Disease Control and Prevention (CDC) 2022, 8,300 tuberculosis-infected cases were reported in the U.S., compared with 7,874 cases reported in 2021.


By Source of Payment Analysis


Based on source of payment, the market is segmented into public, private, and out of pocket.


The public segment held a larger share in 2022, attributed to the increasing health insurance provided by government bodies and vital public players coupled with benefits such as high discounts, which are targeted mainly at low-income individuals or families.



  • For instance, according to an article published by PETER G. PETERSON FOUNDATION in 2023, the U.S. government insurance programs, such as Medicare and Medicaid, encompass about 42.0% or USD 1.8 trillion of national healthcare spending.


By Service Provider Analysis


Based on service provider, the market is segmented into hospital-based laboratories, stand-alone laboratories, clinic-based laboratories, and others.


The hospital-based laboratories segment held a significant share in 2022. The growth of this segment is attributed to the rising number of collaborations between key market players and hospital laboratories to provide technologically advanced testing and services to patients. Additionally, the increasing number of patient admissions in hospitals across the U.S. is expected to drive segment growth in the future.



  • For instance, according to an article published in 2021 by Sharps Compliance, Inc., hospital-based laboratories comprise about 5.0% and perform 55.0% of the volume test in the U.S.


KEY INDUSTRY PLAYERS


Regarding the competitive landscape, the market depicts the presence of established and emerging service companies. Laboratory Corporation of America, Quest Diagnostics Incorporated, and Eurofins Scientific dominated the U.S. clinical laboratory services market share in 2022. These companies' apex position is attributable to the robust service portfolio and a strong foothold in the U.S. market. In April 2020, Laboratory Corporation of America performed almost 35,000 to 40,000 daily tests.


Some of the other companies with a considerable presence in the U.S. market include Illumina, Inc., ARUP Laboratories, NeoGenomics Laboratories, Inc., and Sonic Healthcare Limited. The rising strategic initiatives are expected to enable companies to fortify their market presence.


LIST OF KEY COMPANIES PROFILED:



KEY INDUSTRY DEVELOPMENTS: 



  • March 2023- Illumina Inc. and Myriad Genetics Inc. expanded their strategic partnership to broaden the access and availability of oncology Homologous Recombination Deficiency (HRD) testing in the U.S.

  • July 2022- Laboratory Corporation of America began testing for monkey pox using the U.S. Centers for Disease Control and Prevention’s (CDC) orthopoxvirus test. Labcorp is the first national laboratory to offer a Polymerase Chain Reaction (PCR) test, verified for the CDC, and the first to launch a more automated assay.

  • May 2022- Laboratory Corporation of America announced the acquisition of diagnostic clinical laboratory services from AtlantiCare in Southern New Jersey to improve clinical lab services and help enhance patient care.


REPORT COVERAGE


An Infographic Representation of U.S. Clinical Laboratory Services Market

To get information on various segments, share your queries with us



The U.S. market research report provides a comprehensive market analysis. It focuses on key aspects such as the prevalence of key chronic diseases in the U.S. and industry development. Additionally, it includes the U.S. clinical laboratory services market trends and the impact of COVID-19 on the market. Further, the report also provides insights into the fundamental market dynamics and encompasses numerous factors that contributed to the market growth.


Report Scope & Segmentation



















































  ATTRIBUTE



  DETAILS



Study Period



2019-2032



Base Year



2023



Estimated Year



2024



Forecast Period



2024-2032



Historical Period



2019-2022



Growth Rate



CAGR of 7.3% from 2024 to 2032



Unit



Value (USD Billion)



Segmentation



By Test Type



  • Clinical Chemistry

  • Hematology

  • Genetic Testing

  • Microbiology & Cytology

  • Others



By Age



  • Pediatric

  • Adult



By Source of Payment



  • Public

  • Private

  • Out of Pocket



By Service Provider



  • Hospital-based Laboratories

  • Stand-alone Laboratories

  • Clinic-based Laboratories

  • Others




Author

Bhushan Pawar ( Assistant Manager -Healthcare )

Bhushan is a seasoned professional with nearly a decade of experience in consulting and market re...Read More...


Frequently Asked Questions

Fortune Business Insights says the U.S. market was worth USD 101.73 billion in 2023.

The market is projected to grow at a CAGR of 7.3% during the forecast period.

By test type, clinical chemistry is the major segment of the market.

Laboratory Corporation of America, Quest Diagnostics Incorporated, and Eurofins Scientific are the topmost players in the market.

Seeking Comprehensive Intelligence on Different Markets?
Get in Touch with Our Experts
Speak to an Expert
  • 2019-2032
  • 2023
  • 2019-2022
  • 90
Multi-report Purchase Plan
    A Customized Plan Will be Created Based on the number of reports you wish to purchase
Client Testimonials

“We are quite happy with the methodology you outlined. We really appreciate the time your team has spent on this project, and the efforts of your team to answer our questions.”

- One of the largest & renowned medical research centers based in the U.S. on a report on the U.S. NIPT Market.

“Thanks a million. The report looks great!”

- Feedback from a consultant on a report on the U.S. Beef Market.

“Thanks for the excellent report and the insights regarding the lactose market.”

- Brazil based company specializing in production of protein ingredients.

“I liked the report; would it be possible to send me the PPT version as I want to use a few slides in an internal presentation that I am preparing.”

- Global Digital Services Agency on a report on the Global Luxury Goods Market.

“This report is really well done and we really appreciate it! Again, I may have questions as we dig in deeper. Thanks again for some really good work.”

- U.S.-based biotechnology company focussing on treatment of chronic pain.

“Kudos to your team. Thank you very much for your support and agility to answer our questions.”

- Europe-based provider of solutions to automate data centre operations.

“We appreciate you and your team taking out time to share the report and data file with us, and we are grateful for the flexibility provided to modify the document as per request. This does help us in our business decision making. We would be pleased to work with you again, and hope to continue our business relationship long into the future.”

- India-based manufacturer of industrial and specialty intermediates with a strong global presence.

“I want to first congratulate you on the great work done on the Medical Platforms project. Thank you so much for all your efforts.”

- One of the largest cosmetics company in the world.

“Thank you very much. I really appreciate the work your team has done. I feel very comfortable recommending your services to some of the other startups that I’m working with, and will likely establish a good long partnership with you.”

- U.S. based startup operating in the cultivated meat market.

“We received the below report on the U.S. market from you. We were very satisfied with the report.”

- Global hearing aids manufacturer.

“I just finished my first pass-through of the report. Great work! Thank you!”

- U.S. based solar racking solutions provider.

“Thanks again for the great work on our last partnership. We are ramping up a new project to understand the imaging and imaging service and distribution market in the U.S.”

- World’s leading advisory firm.

“We feel positive about the results. Based on the presented results, we will do strategic review of this new information and might commission a detailed study on some of the modules included in the report after end of the year. Overall we are very satisfied and please pass on the praise to the team. Thank you for the co-operation!”

- Germany based machine construction company.

“Thank you very much for the very good report. I have another requirement on cutting tools, paper crafts and decorative items.”

- Japanese manufacturing company of stationery products.

“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”

- One of the Leading Food Companies in Germany

“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”

- Intuitive Surgical

“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”

- Major Food Company in Japan

“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”

- Ziering Medical

“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”

- Major Manufacturer of Precision Machine Parts in India

“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”

- Hewlett-Packard

“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”

- Global Management Consulting Firm

“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”

- UK-based Start-up in the Medical Devices Sector

“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”

- One of the Largest Companies in the Defence Industry
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . Privacy.
X