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2025 U.S. Industry Statistics & Market Forecast - Medical Laboratories


Market Size & Industry Statistics

The total U.S. industry market size for Medical Laboratories: Industry statistics cover all companies in the United States, both public and private, ranging in size from small businesses to market leaders. In addition to revenue, the industry market analysis shows information on employees, companies, and average firm size.

Investors, banks, and business executives use growth rates and industry trends to understand the market outlook and opportunity.

Charts and graphs can be copied to Microsoft Word and Powerpoint presentations.

Statistics        2020        2021        2022        2023        2024
Market Size
(Total Sales/Revenue)


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Total Firms
Total Employees
Average Revenue Per Firm
Average Employees Per Firm
Average Revenue Per Employee
Statistics Source: U.S. Census, AnythingResearch Analysis of Federal Data



Market Forecast

Market forecasts show the long term industry outlook and future growth trends. The following extended five-year forecast projects both short-term and long-term trends.





Forecast / Industry Outlook 2025 2026 2027 2028 2029
Market Forecast ($ millions)
Projected Industry Growth Rate (%)
Source: AnythingResearch Economic Analysis

Industry Insights

Major trends affect the Medical Laboratories industry include:
  1. Increased demand for molecular diagnostics
  2. Growing importance of personalized medicine
  3. Expansion of precision medicine
  4. Rise in chronic diseases and aging population
  5. Technological advancements in diagnostic techniques
  6. Integration of AI and machine learning
  7. Expansion of telemedicine
  8. Increase in home-based testing kits
  9. Emphasis on cost-efficiency and reimbursement policies
  10. Regulatory and compliance pressures
  11. Consolidation in healthcare providers
  12. Shift towards preventive healthcare and wellness
  13. Sustainability practices and eco-friendly technologies
  14. Cybersecurity concerns in health data management
  15. Impact of global health emergencies, such as COVID-19


Product & Services Breakdown

Research products and services in the Medical Laboratories industry generating sales. Note that products are broken into categories with different levels of classification.

Product DescriptionNumber of Companies Sales ($ millions) Percent of Total Sales

Industry Total

Laboratory Services

Anatomic Pathology

Clinical Pathology Services

General Pathology Services

Diagnostic Imaging Services

Rental Or Lease Of Goods And/Or Equipment

Rental Or Lease Of - All Other Goods And/Or Equipment

All Other Receipts

All Other Operating Receipts



U.S. Geographic Distribution: Revenue Statistics by State

Market Size by State ($ millions) indicates how the industry's competition is distributed throughout the country. State-level information can identify areas with higher and lower industry market share than average.

U.S. map by state

Income Statement (Average Financial Metrics)

Financial metrics provide a snapshot view of a benchmark "average" company. Key business metrics show revenue and operating costs. The data collected covers both public and private companies.

Industry Average Percent of Sales
(Industry Benchmark)
Total Revenue

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Operating Revenue
Cost of Goods Sold
Gross Profit

Operating Expenses
Pension, profit sharing plans, stock, annuity
Repairs
Rent paid on business property
Charitable Contributions
Depletion
Domestic production activities deduction
Advertising
Compensation of officers
Salaries and wages
Employee benefit programs
Taxes and Licenses
Bad Debts
Depreciation
Amortization
Other Operating Expenses
Total Operating Expenses
Operating Income
Non-Operating Income
EBIT (Earnings Before Interest and Taxes)
Interest Expense
Earnings Before Taxes
Income Tax
Net Profit
Net Income
 
Source: AnythingResearch Analysis of U.S. federal statistics




Financial Ratio Analysis

Financial ratio information can be used to benchmark how a Medical Laboratories company compares to its peers. Accounting statistics are calculated from the industry-average for income statements and balance sheets.

Profitability & Valuation RatiosIndustry Average
Company valuation can be measured based on the firm's own performance, as well as in comparison against its industry competitors. These metrics show how the average company in the Medical Laboratories industry is performing.
Profit Margin
Gross Profit Margin, Operating Profit Margin, and Net Profit Margin. Show company earnings relative to revenues.
Return on Equity (ROE)
Return on Equity (ROE) is net income as a percentage of shareholders' equity. Shareholders' Equity is defined as the company's total assets minus total liabilities. ROE shows how much profits a company generates with the money shareholders invested (or with retained earnings).
Return on Assets (ROA)
Return on Assets (ROA) is net income relative to total assets. The market research on Medical Laboratories measures how efficiently the company leverages its assets to generate profit. ROA is calculated as Net Income divided by Total Assets.


Liquidity RatiosIndustry Average
Bankers and suppliers use liquidity to determine creditworthiness and identify potential threats to a company's financial viability.
Current Ratio
Measures a firm's ability to pay its debts over the next 12 months.
Quick Ratio (Acid Test)
Calculates liquid assets relative to liabilities, excluding inventories.


Efficiency Ratios - Key Performance IndicatorsIndustry Average
Measure how quickly products and services sell, and effectively collections policies are implemented.
Receivables Turnover Ratio
If this number is low in your business when compared to the industry average in the research report, it may mean your payment terms are too lenient or that you are not doing a good enough job on collections.
Average Collection Period
Based on the Receivables Turnover, this estimates the collection period in days. Calculated as 365 divided by the Receivables Turnover
Inventory Turnover
A low turnover rate may point to overstocking, obsolescence, or deficiencies in the product line or marketing effort.
Fixed-Asset Turnover
Generally, higher is better, since it indicates the business has less money tied up in fixed assets for each dollar of sales revenue.



Compensation & Salary Surveys for Employees

Compensation statistics provides an accurate assessment of industry-specific jobs and national salary averages. This information can be used to identify which positions are most common, and high, low, and average annual wages.

TitlePercent of WorkforceBottom Quartile Average (Median) SalaryUpper Quartile
Management Occupations 6%

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Chief Executives0%
General and Operations Managers1%
Healthcare Practitioners and Technical Occupations 40%
Health Technologists and Technicians 35%
Clinical Laboratory Technologists and Technicians 22%
Diagnostic Related Technologists and Technicians 11%
Radiologic Technologists and Technicians 5%
Healthcare Support Occupations 18%
Other Healthcare Support Occupations 18%
Miscellaneous Healthcare Support Occupations 18%
Phlebotomists 15%
Office and Administrative Support Occupations 22%
Information and Record Clerks 7%
Material Recording, Scheduling, Dispatching, and Distributing Workers 5%
Source: Bureau of Labor Statistics


Medical Laboratories Competitor Landscape & Key Companies [PREMIUM]

The most influential companies in the Medical Laboratories industry and adjacent industries either have large market share or are developing new business models and methods that could disrupt the status quo. We look at leading and emerging companies in the Medical Laboratories industry and adjacent sectors:

Market Leaders:
Direct Competitors

Companies with the largest market share, focused in this industry
Market leaders:
Diversified Competitors

Largest companies that have diversified operations in this and other industries
Innovators:
Direct Competitors

Innovative, Emerging, and Disruptive Companies that may influence the future direction of the industry.
Innovators:
Diversified Competitors

Innovators and Disruptors in adjacent industries that may also affect the Medical Laboratories industry.
Source:
IncFact


Latest Industry News

  • Toxicology lab to pay over $4 million after allegations of unnecessary tests and Medicare claims - A Toxicology lab with several medical practices in Michigan will pay over $4.4 million to settle claims of unnecessary testing and submitting Medicare claims for reimbursement for those test. (01/04/2025)
  • Va. building state-of-the-art crime lab in Hanover County - The "game-changer" facility is expected to open early in 2026 with a better setup to investigate DNA, ballistics and several other types of crime scene evidence. (01/04/2025)
  • Florida lab to pay $4M over claims of ‘unnecessary drug testing’ in Michigan - A medical testing laboratory based out of Tampa, Florida has agreed to pay over $4 million to resolve allegations that the company ordered "medically unnecessary urine drug testing and hormone testing. (01/03/2025)
  • Homegrown medical leaders - Matt Ebron, a senior human physiology major from New Castle, works as a medical technician at Newark Urgent Care and conducts research in Assistant Professor of Biological Sciences Justin Parreno’s lab. What do a human physiology major, a nutrition and medical sciences major, and a medical diagnostics major all have in common? (01/03/2025)
  • China sets up first medical large model application testing center in Shanghai - SHANGHAI -- China has established its first application testing and verification center for medical large models in Shanghai, aimed at advancing the integration of artificial intelligence in the healthcare sector. (01/03/2025)
  • Medical Professionals Are Sharing 20 Patients Who Turned Out To Be Correct About Wild Self-Diagnoses - 16."When I was in med school, there was a guy in his early 60s, fairly healthy, who kept coming into the hospital with vague symptoms of feeling like 'he’s dying.' Tons of blood tests, imaging studies, etc. didn’t show any problems." (01/01/2025)
  • SMU Researchers’ ‘Lab-on-a-Chip’ Test Earns $100K Grant - Two engineering professors at Dallas’ Southern Methodist University have been awarded a $100,000 research grant to help develop a fast, portable tool for point-of-care medical diagnosis called Lab-on-a-Chip. (12/30/2024)
  • Central varsity sets up medical microbiology laboratory - The Tribune, now published from Chandigarh, started publication on February 2, 1881, in Lahore (now in Pakistan). It was started by Sardar Dyal Singh Majithia, a public-spirited philanthropist, and is run by a trust comprising five eminent persons as ... (12/25/2024)
  • Open Healthcare Inc. Expands U.S. Operations With CTON Laboratory Acquisition, New Facility in Gardena, and Appointment of New COO - Open Healthcare Inc., a global leader in healthcare services, announces key expansions in the U.S. market through its U.S. division, Open (12/23/2024)
  • Burjeel Medical City launches Balance Lab to enhance ENT services - The new facility is dedicated to the comprehensive diagnosis, treatment, and rehabilitation of balance and vertigo disorders, further strengthening BMC’s advanced offerings in otolaryngology (ear, nose, (12/23/2024)




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