The U.S. Clinical Laboratory Industry: Forecast & Trends 2023 – 2025


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Tap into 100+ pages of proprietary market research that reveals critical data and information about key business trends affecting the clinical laboratory market.

  • More than 100 charts and graphs
  • Industry size and growth rates for 2012-2025
  • Medicare claims data for key laboratory codes
  • Hospital laboratory cost report data for more than 100 hospitals
  • Top 50 hospitals by outreach lab CLFS and PFS payments
  • Detailed data on the fast-growing PCR-based testing market
  • CLIA test volume figures for the top hospitals, independent labs and POLs
  • Top 30 U.S. laboratory companies by total revenue
  • Key mergers, acquisitions and joint ventures
  • Private-Payer Reimbursement Survey Results

Condensed Table of Contents

1. Market Size and Structure

  • Laboratory Industry Revenue, 2012-2022
  •  National Health Expenditures and the Lab Industry
  • Lab Market Share by Test Volume
  • Lab Market Share by Revenue
  • Top 30 Lab Companies by Revenue for 2022

2. The Hospital Laboratory Market

  •  Hospital Laboratory Revenue 2012-2022
  • Top 50 Hospital Labs by Laboratory Dept. Costs
  • Hospital Lab Outreach Testing Revenue, 2012-2022
  • Hospital Lab-Commercial Lab Partnerships
  • Top 50 Hospital Labs by CLFS Payments

3. The Independent Laboratory Market

  • Independent Laboratory Revenue 2012-2022
  • Top 50 Independent Labs by Medicare Revenues
  • Average Medicare Revenue per Test by Lab Type
  • New Independent Lab Formations, 1995-2023
  • Fastest-Growing Independent Labs
  • Productivity Stats for Quest, Labcorp & BioReference

4. The Physician Office Laboratory Market

  • Physician Office Laboratory Revenue, 2012-2022
  • Top 20 Lab Tests Performed at POLs
  • Total Number of POLs, 2012-2023
  • Top 25 POLs by Annual CLIA Test Volume, 2023

5. Mergers & Acquisitions

  • M&A Transaction Value, 1993-2023
  • Revenue Multiples Paid for Labs, 1993-2023
  • Lab Valuations Based on EBITDA
  • Lab Acquisition Summary, 2016-2023

6. Reimbursement Rates

  • Medicare Rates for Top 30 Test Codes
  • Medicare Rates for Covid-19 Testing
  • Avg. Revenue Per Req. at Quest and LabCorp
  • Hospital Lab Rates vs. Independent Lab Rates

7. The Outlook for the U.S. Clinical Laboratory Testing Market

  • Lab Industry Revenue Projections, 2022-2025
  • Revenue Growth at Publicly Traded Labs, 2023
  • Biggest Challenges Facing Labs
  • Medicare CLFS Rate Outlook, 2018-2028
  • Lab Employee Compensation Trends
  • Fastest Growing Lab and Pathology Tests
  • Top 25 PCR-Based Testing Labs

The Laboratory Economics Difference

The U.S. laboratory testing market has been fundamentally altered by Medicare’s new market-based payment system, which will directly impact virtually every payer category with profound consequences for all laboratories. The pace of consolidation will accelerate, new investment will be centered on proprietary molecular diagnostics, and successful managed care contracting will be paramount to the survival of most laboratories. Big change accentuates the need for informed decision-making. Choosing the best path to the future depends on two critical factors: quality of information and insightful analysis. The U.S. Clinical Laboratory Industry: Forecast & Trends 2023-2025 can help you make educated decisions. You’ll get an insider’s market expertise combined with the objectivity of an outsider for the best possible insight into the laboratory market’s competitive dynamics.

Our Research Methodology

The U.S. Clinical Laboratory Industry: Forecast & Trends 2023-2025 includes data gathered the old-fashioned way—through primary research. The estimates and market analysis in this report have been built from the ground up, not by regurgitating stale numbers from old reports. Proprietary surveys and extensive interviews with commercial lab executives, hospital lab directors, and respected consultants form the basis of this report. And no stone has been left unturned in our examination of the CLIA database, Medicare test volume and expenditure data, hospital cost reports, Securities & Exchange Commission filings and company annual reports.

About the Author

Jondavid Klipp, President, Laboratory EconomicsJondavid Klipp is president and publisher of Laboratory Economics LLC, an independent market research firm focused on the business of laboratory medicine. Prior to founding Laboratory Economics in April 2006, Mr. Klipp was managing editor at Washington G-2 Reports. During his seven-year employment with G-2, he was editor of Laboratory Industry Report and Diagnostic Testing & Technology Report. Mr. Klipp also authored several landmark research reports, including G-2’s Lab Industry Strategic Outlook 2005, U.S. Laboratory Reference Testing: Profile and Pricing Trends and The Laboratory Market Leaders Report. Prior to joining G-2, Mr. Klipp was an HMO analyst at Corporate Research Group in New Rochelle, New York, and a senior writer in the equity research department at Dean Witter in New York City.

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