2018 Laboratory Market Report - Precision Medicine Market Projected to Exceed $2 Billion by 2022 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Aug 9, 2018--The “2018 Laboratory Market Report” report has been added to ResearchAndMarkets.com’s offering.
The 2018 Laboratory Market Report looks at market growth and opportunities across major market segments; including hospital labs, physician office labs, and reference labs.
The report also examines clinical trends including molecular testing, genetic testing, and companion diagnostics.
Key FindingsThe medical laboratory testing market valued at $79 billion in 2017 Reimbursements cut for 75% of tests on the 2018 Clinical Laboratory Fee Schedule by the Center for Medicare and Medicaid Services Genetic testing market grew 150% from 2012-2016
Key Topics CoveredExecutive Summary Laboratory Market Overview Hospital Lab Market Valued At $47 Billion Hospital Lab Test Volumes Increase Five Consecutive Quarters POL Market Grows $300 Million In 2017 POLs Make Up Nearly Half Of U.S. Laboratories Drug Testing Spurs Growth In Number Of POLs Quest Diagnostics, LabCorp Are Nearly Half Of Reference Lab Market By Revenue LabCorp Increases Per Test Revenues LabCorp Revenues 13.5% Higher Than Quest In 2017 Number Of Post-Acute Labs Up 12.5% From 2011 - 2018 CMS Relies Heavily On Reference Lab Data To Set Rates Number Of CLFS Codes Up 18.4% From 2010 75% Of Tests On CLFS To Receive Medicare Reimbursement Cuts Under PAMA 20 Largest Payment Increases Under PAMA 20 Largest Payment Decreases Under PAMA Labs Work To Support Value Based Care Models Medicare Spending On Lab Testing Down $200M From 2015-2016 Medicare Spending By Test Drug, Molecular Pathology Testing Have Largest Medicare Spending Decreases Payment, Coding May Differ Between Test Categories POLs Most Vulnerable To Changes In Medicare Reimbursement Lab Tech Investment Benefits Hospitals Lab Work Most Helpful Aspect Of EHR Companion Diagnostics Compliment Pharmaceutical Therapy Precision Medicine Market Projected To Exceed $2 Billion By 2022 Molecular Diagnostics Offer Early Detection Syndromic Panel Testing: Multiple Diagnoses In One Test Syndromic Panels May Lower Testing Costs Majority Of Genetic Tests Are Single-Gene Rapid Growth In Number Of Genetic Tests Genetic Testing Could Reduce Treatment Costs Genomic Testing Costs Rapidly Decline Top 25 Tests Total 63% Of Medicare Lab Spend Lab Supplies Purchased Through Distribution Price Transparency Has No Impact On Clinician Test Ordering GHX Market Breakdown Of Clinical Laboratory-Related Product Categories Sold Through Distribution GHX Lists Clinical Laboratory Products Sold Through Distribution Definitions
For more information about this report visit https://www.researchandmarkets.com/research/5qg7w2/2018_laboratory?w=4
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Related Topics:Laboratory Testing,Laboratory Equipment
INDUSTRY KEYWORD: HEALTH HOSPITALS MEDICAL DEVICES OTHER SCIENCE SCIENCE
SOURCE: Research and Markets
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PUB: 08/09/2018 09:22 AM/DISC: 08/09/2018 09:21 AM