Growth Opportunities in the North American Clinical Laboratory Services Market, Forecast to 2022
Laboratories Seek Alternate Revenue Streams to Combat Reimbursement Pressure
  • Clinical laboratory services represent one of the highest healthcare expenditures in North America, yet the United States and Canada represent different scenarios in the way clinical services are rendered. The market for clinical lab services in Canada was an estimated $10.33 billion in 2017 whereas in the United States it was an estimated $78.33 billion for the same year. Heavily influenced by the Protecting Access to Medicare Act (PAMA) reimbursement cuts, US laboratories are expanding their revenue streams to collaborate with retail clinics and eCommerce channels to increase their testing footprint. Today’s market is ripe for mergers and acquisitions. The private market is heavily concentrated between two reference laboratories, Quest Diagnostics and LabCorp.

    This report analyzes the market for clinical laboratory services in North America across 3 main segments: hospital laboratories, physician office laboratories, and specialty/independent laboratories. In Canada, regional public laboratories are also analyzed. Revenue forecasts for the period 2018–2022 have been carefully studied to understand the impact of PAMA and the upcoming reimbursement cuts. The study also includes competitive profiles of top vendors serving the United States and Canada for laboratory testing and gives an in-depth analysis of winning strategies for laboratories to survive in a future that is governed by value-based healthcare. Since the market is ripe for mergers and acquisitions, a detailed M&A analysis for the period 2017–2018 is included.

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