United States Laboratory Market Report 2021: Market was Estimated to be Worth $105.5 Billion in 2020 – Forecast to 2025 – Press Release

Dublin, Feb. 07, 2022 (GLOBE NEWSWIRE) — The “2021 United States Laboratory Market Report” report has been added to ResearchAndMarkets.com’s offering.

The U.S. laboratory market has over 260,000 laboratories nationwide and was estimated to be worth $105.5 billion in 2020

Laboratory revenues and volumes made a tremendous rebound from early days of the pandemic and Delta variant further increased testing demand. The 2021 Laboratory Market Report analyzes upcoming laboratory breakthroughs and trends, provides an overview of the market and discusses key areas to watch.

Key Findings

• Independent laboratory revenue was up nearly 80% in 2020, primarily due to COVID-19 testing demand.
• The U.S. direct-to-consumer test market is expected to reach $2 billion by 2025.
• Continuous glucose monitoring is projecting to increase 38% in 2021.

Key Topics Covered:

• Executive Summary
• Laboratory Market Overview
• Laboratory Revenues And Volumes Rebound During Pandemic
• COVID-19 Delta Variant Increases Testing
• 25% Of Labs Perform Non-Waived Tests
• Demand For COVID Testing Outpaces Laboratory Staff
• Reducing Costs Is Top Priority For Hospital Lab Executives
• Over Half Of Hospital Labs Outsource Lab Work
• Nearly Half Of Hospital Labs Have An Outreach Program
• Independent Laboratory Revenue Up Nearly 80% Due To COVID Testing Demand
• COVID-19 Testing Declines But Independent Laboratory Revenues Expected To Increase In 2021
• Physician Office Labs Represent The Majority Of Waived Laboratories
• Medicare Lab Spending Increases Under PAMA
• Genetic Testing Utilization Contributes To Increases In Total Medicare Spending Under PAMA
• Top 25 Lab Tests See Reduced Or Unchanged Payment Rates
• Payment Rates Reduced For 17 Of Top 25 Lab Tests
• Number Of Home Health Agency Laboratories Continues To Decline
• Liquid Biopsy Offers Hope For Less Invasive Early Cancer Detection
• Oncology Dominates Next Generation Sequencing Market Share
• Non-Invasive Prenatal Testing Market Expected To Grow After Key Recommendation
• Use Of Biomarkers Increasing
• Number Of FDA-Approved Companion Diagnostics Continues To Increase
• More Diagnostic Testing Moves To The Home
• Medicare Spending On Genetic Testing Increases $390 Million Year-Over-Year
• Continuous Glucose Monitoring Adoption Expected To Increase With Elimination Of Medicare Rule
• Molecular Testing Struggles To Meet Demand During Pandemic
• Clarivate Lists Top Laboratory Products Sold Through Distribution

For more information about this report visit https://www.researchandmarkets.com/r/ohklp1

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