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Clinical Diagnostic Lab Testing Market to Grow Over 90% through 2017

Posted on: Tuesday, 14 April 2009, 16:36 CDT

Washington G-2 Reports releases 2009 Laboratory market projections.

NEWARK, N.J., April 14 /PRNewswire/ -- A new study from market research firm Washington G-2 Reports indicates that 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.

Washington G-2 Reports' Lab Industry Strategic Outlook: Market Trends & Analysis 2009 also shows other key factors contributing to the rapid evolution of the clinical diagnostic lab testing industry -- for instance, the M&A wave that hit the industry over the past two years --settling in 2009. That's not to say that M&A will become obsolete. Together, Quest, LabCorp and Sonic Healthcare snapped up 21 acquisitions in 24 months. The three companies remain preoccupied with dominating specific geographic markets and Washington G-2 Reports expects they will monopolize the industry for some time to come.

In addition to providing critical insight into the U.S. clinical laboratory testing market through 2017 and critical data on M&A, Washington G-2 Reports' Lab Industry Strategic Outlook provides expert perspective on, how contemporary trends will shape the structure the growth of the laboratory industry. This includes comprehensive analysis of four key providers (hospital, independent laboratory, physician offices, and 'other' services) four primary markets (Medicare, Medicaid, esoteric testing, anatomic pathology and cytology, and workplace drug testing) and penetration into new markets.

Lab Industry Strategic Outlook: Market Trends & Analysis 2009 is rich with laboratory rankings, including the: Top 75 Hospital Labs; Top 100 Independent Laboratory Corporations, Top 100 Physician Office Laboratories, Top Esoteric Testing Laboratories, Top Four Esoteric Laboratory Testing Providers, and more. In addition, the research provides profiles of 10 publicly traded U.S. laboratory and pathology companies: Bio-Reference Laboratories, Enzo Biochem, Genzyme Genetics, Laboratory Corporation of America, Medtox Scientific, Myriad Genetics, Psychemedics Corporation, Quest Diagnostics, Monogram Biosciences (Formerly ViroLogic, Inc.) and NeoGenomics. Each profile subsumes critical contact info (address, telephone, email, fax, names of leading employees (e.g., CEO, VPs, Directors)), a company overview, and financial information (e.g., revenue, pre-tax and net income, shareholder's equity, earnings per share, long-term debt, cash/equivalents, bad-debt %).

Lab Industry Strategic Outlook is an exclusive 294 page report supported by 160 tables and charts. For more details, call 973-718-4737, email pwpatterson@ioma.com or visit www.g2reports.com.

About Washington G-2 Reports

An independent news and information service, specializing in diagnostic testing and related medical services, Washington G-2 Reports is the leading market research and publishing firm serving the clinical diagnostic laboratory market in the U.S. Washington G-2 Reports offers timely, accurate reporting and analysis to subscribers in all 50 states, Puerto Rico, Canada, Europe and Asia; and is trusted by leading organizations such as the Centers for Disease Control and Prevention (CDC), which used Lab Industry Strategic Outlook (2007 edition) in their report, Laboratory Medicine: A National Status Report. In addition to publishing a variety of newsletters, reference guides and research, Washington G-2 Reports sponsors the Lab Institute and other related programs. Washington G-2 Reports is a division of the Institute of Management and Administration (IOMA, Newark, N.J.), a subsidiary of the Bureau of National affairs (Washington, D.C.).

SOURCE Washington G-2 Reports

Source: PR Newswire

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