Medical Laboratories - Market Size, Financial Statistics, Industry Trends
Industry Overview
This U.S. industry comprises establishments known as medical laboratories primarily engaged in providing analytic or diagnostic services, including body fluid analysis, generally to the medical profession or to the patient on referral from a health practitioner. Illustrative Examples: Blood analysis laboratories Medical pathology laboratories Medical bacteriological laboratories Medical testing laboratories Medical forensic laboratories Cross-References.Source: U.S. Census Bureau
Medical Laboratories Market Size
This report includes historical and forecasted market sizes and industry trends for Medical Laboratories. It reveals overall market dynamics from 2020 through the present, and predicts industry growth or shrinkage through 2030. Revenue data include both public and private companies in the Medical Laboratories industry.| Historical | Forecasted | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | 2029 | 2030 | |
| Market Size (Total Revenue) | Included in Report |
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| % Growth Rate | |||||||||||
| Number of Companies | |||||||||||
| Total Employees | |||||||||||
| Average Revenue per Company | |||||||||||
| Average Employees per Company | |||||||||||
Industry Revenue ($ Billions)
Industry Forecast ($ Billions)
Pell Research's advanced econometric models forecast five years of industry growth based on short- and long-term trend analysis. Market size statistics include revenue generated from all products and services sold within the Medical Laboratories industry.
Geographic Breakdown by U.S. State
Medical Laboratories market share by state pinpoints local opportunities based on regional revenue statistics. Growth rate for each state is affected by regional economic conditions. Data by state can be used to locate profitable and nonprofitable locations for Medical Laboratories companies in the United States.Industry Revenue by State [Sample]
Distribution by Company Size
| Company Size | All Industries | Medical Laboratories |
|---|---|---|
| Small Business (< 5 Employees) | Included |
|
| Small Business (5 - 20) | ||
| Midsized Business (20 - 100) | ||
| Large Business (100 - 500) | ||
| Enterprise (> 500) | ||
Industry Income Statement (Average Financial Metrics)
Financial statement analysis determines averages for the following industry forces:- Cost of goods sold
- Compensation of officers
- Salaries and wages
- Employee benefit programs
- Rent paid
- Advertising and marketing budgets
The report includes a traditional income statement from an "average" Medical Laboratories company (both public and private companies are included).
| Industry Average | Percent of Sales | |
|---|---|---|
| Total Revenue | Included |
|
| Operating Revenue | ||
| Cost of Goods Sold (COGS) | ||
| Gross Profit | ||
| Operating Expenses | ||
| Operating Income | ||
| Non-Operating Income | ||
| Earnings Before Interest and Taxes (EBIT) | ||
| Interest Expense | ||
| Earnings Before Taxes | ||
| Income Tax | ||
| Net Profit | ||
Average Income Statement
Cost of Goods Sold
Salaries, Wages, and Benefits
Rent
Advertising
Depreciation and Amortization
Officer Compensation
Net Income
Financial Ratio Analysis
Financial ratios allow a company's performance to be compared against that of its peers.| Financial Ratio | Industry Average |
|---|---|
| Profitability Ratios | Included |
| Profit Margin | |
| ROE | |
| ROA | |
| Liquidity Ratios | |
| Current Ratio | |
| Quick Ratio | |
| Activity Ratios | |
| Average Collection Period | |
| Asset Turnover Ratio | |
| Receivables Turnover Ratio | |
| Inventory Conversion Ratio |
Products and Services Mix
Product lines and services in the Medical Laboratories industry accounting for the largest revenue sources.| Product Description | Description | Revenue ($ Millions) |
|---|---|---|
| Industry total | Included |
|
| Patient care | ||
| All other operating receipts | ||
| Resale of merchandise | ||
| Resale - all other merchandise | ||
| Resale - all other medical equipment & supplies | ||
| Resale - pharmaceuticals | ||
| Rental or lease of goods and/or equipment | ||
| Rental or lease - medical equipment | ||
| Resale - optical goods | ||
Compensation and Salary Surveys
Salary information for employees working in the Medical Laboratories industry.| Title | Percent of Workforce | Bottom Quartile | Average (Median) Salary | Upper Quartile |
|---|---|---|---|---|
| Management Occupations | 5% |
Included |
||
| Chief Executives | 0% | |||
| General and Operations Managers | 1% | |||
| Healthcare Practitioners and Technical Occupations | 39% | |||
| Health Technologists and Technicians | 35% | |||
| Clinical Laboratory Technologists and Technicians | 22% | |||
| Diagnostic Related Technologists and Technicians | 12% | |||
| Radiologic Technologists | 6% | |||
| Healthcare Support Occupations | 19% | |||
| Other Healthcare Support Occupations | 19% | |||
| Miscellaneous Healthcare Support Occupations | 19% | |||
| Phlebotomists | 16% | |||
| Office and Administrative Support Occupations | 24% | |||
| Information and Record Clerks | 8% | |||
Government Contracts
The federal government spent an annual total of $261,810,296 on the Medical Laboratories industry. It has awarded 4,559 contracts to 505 companies, with an average value of $518,436 per company.Top Companies in Medical Laboratories and Adjacent Industries
| Company | Address | Revenue ($ Millions) |
|---|---|---|
Included |
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