MOUNTAIN VIEW, Calif., July 18, 2012 /PRNewswire/ -- The U.S. clinical laboratory market is on the cusp of radical changes, but it is unclear if these transitions will bring greater prosperity to the market or dampen its growth prospects. The market is assessing the impact of developments like Accountable Care Organizations (ACOs) and Food and Drug Administration (FDA) oversight on laboratory developed tests (LDTs). Further, the market is witnessing physician migration to hospitals, continued consolidation of laboratories and hospitals, increased connectivity among all healthcare providers, and changes to current procedural terminology (CPT) coding in molecular pathology.
New analysis from Frost & Sullivan's (http://www.drugdiscovery.frost.com) Analysis of the U.S. Clinical Laboratory Market research finds that the market generated revenues of $63.92 billion in 2011 and estimates this to reach $89.31 billion in 2017. The most significant revenue growth in the forecast model will occur in 2014 due to the Affordable Care Act, which will expand healthcare coverage to 19.5 million people. After 2014 in this forecast model, falling reimbursement rates for laboratory testing will cause market growth to lag behind the national health expenditure.
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The unceasing need for testing of transmittable disease will remain a key driver for diagnostics, as new pathogen strains (seasonal influenza, H1N1, etc.) develop each year. Clinical laboratories will also address the rising incidence of hospital-acquired infections, such as methicillin-resistant staphylococcus aureus (MRSA
|SOURCE Frost & Sullivan|
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