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U.S. Office-based Labs Market Size, Share & Trends Analysis Report By Modality (Hybrid Labs, Multi-specialty Labs), By Service (Cardiac, Endovascular Intervention, Venous, Interventional Radiology), By Specialist, And Segment Forecasts, 2024 - 2030

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    Report

  • 120 Pages
  • January 2024
  • Region: United States
  • Grand View Research
  • ID: 4832399

U.S. Office-based Labs Market Growth & Trends

The U.S. office-based labs market size is expected to reach USD 18.3 billion by 2030 expanding at a CAGR of 7.52% over the forecast period. The increasing prevalence of vascular diseases and rising preference for minimally invasive procedures in outpatient settings are the major factors driving the demand for office-based labs (OBL) in the U.S. High prevalence of risk factors, such as smoking, high blood pressure, diabetes, and high cholesterol, along with the growing geriatric population, is expected to increase the incidence of Peripheral Artery Diseases (PADs).

The resultant surge in the number of procedures performed for their treatment is anticipated to fuel the market growth during the forecast period. The rapidly transitioning healthcare delivery scenario is driving key market players to transform their business models to achieve maximum benefit from ongoing transitions. A key driving factor supporting the changing preferences of consumers is the cost-effectiveness of OBL. Some of the key reasons to visit office-based labs are preventive care, underlying chronic condition, pre/post-surgery care, and injuries/trauma. In addition, high patient satisfaction with a focused and dedicated team of doctors is expected to boost the market in the U.S.

During the COVID-19 pandemic, private practices, such as OBLs, postponed elective procedures, which included elective angioplasty or elective rotational atherectomy during transcatheter aortic valve implantation, or any other elective vascular operations performed under general or peripheral anesthesia. According to the findings published by The Commonwealth Fund, in August 2020, the total number of ambulatory practices witnessed a decline of 60% and recorded a significant decline in provider office visits. Many OBLs in the U.S. have reported a sharp decline in their businesses, however, some of them are offering testing facilities and post-respiratory therapy.

U.S. Office-based Labs Market Report Highlights

  • By modality, the single-specialty OBL segment dominated the market in 2022, and hybrid office-based labs are expected to record the fastest CAGR during the forecast period
  • The adoption of digital health solutions, such as integrated care Electronic Health Records (EHRs) customized as per the care provider requirements is boosting the growth of multi-specialty labs
  • In terms of services, vascular procedures are the most commonly performed procedures in OBL settings. Among vascular procedures, Peripheral Vascular Interventions (PVI) are the most common services being offered to patients
  • In the specialist category, vascular surgeons are the leading service providers in OBL. All major vascular surgeries, such as aortic, mesenteric, renal, subclavian, iliofemoral, tibial, and pedal, are being performed by vascular surgeons in office settings
  • In the U.S. almost 70% of surgical procedures are performed in outpatient settings, out of which, around 25% are performed in a physician’s office
  • Mergers & and acquisitions, technological advancements, and new product launches are some of the strategies followed by major players. For Instance, in May 2021, Surgery Partners entered into a strategic partnership with UCI Health to develop & expand access to outpatient surgical facilities and enhance patient outcome

Why should you buy this report?

  • Comprehensive Market Analysis: Gain detailed insights into the global market across major regions and segments.
  • Competitive Landscape: Explore the market presence of key players worldwide.
  • Future Trends: Discover the pivotal trends and drivers shaping the future of the global market.
  • Actionable Recommendations: Utilize insights to uncover new revenue streams and guide strategic business decisions.

This report addresses:

  • Market intelligence to enable effective decision-making
  • Market estimates and forecasts from 2018 to 2030
  • Growth opportunities and trend analyses
  • Segment and regional revenue forecasts for market assessment
  • Competition strategy and market share analysis
  • Product innovation listing for you to stay ahead of the curve
  • COVID-19's impact and how to sustain in these fast-evolving markets


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Table of Contents

Chapter 1. Methodology and Scope
1.1. Market Segmentation
1.2. Market Definitions
1.2.1. Modality
1.2.2. Service
1.2.3. Specialist
1.3. Estimates and Forecast Timeline
1.4. Research Methodology
1.4.1. Information procurement
1.4.2. Purchased Database
1.4.3. Analyst's Internal Database
1.4.4. Secondary Sources
1.4.5. Primary Research
1.4.6. Details of Primary Research
1.5. Information or Data Analysis
1.5.1. Data Analysis Models
1.6. Market Formulation & Validation
1.6.1. Commodity Flow Analysis
1.7. List of Secondary Sources
1.8. List of Abbreviations
1.9. Research Objectives
Chapter 2. Executive Summary
2.1. Market Snapshot
2.2. Segment Snapshot
2.2.1. Modality
2.2.2. Service
2.2.3. Specialist
2.3. Competitive Landscape Snapshot
Chapter 3. Market Variables, Trends, & Scope
3.1. Market Lineage Outlook
3.1.1. Parent market outlook
3.2. Market Segmentation
3.3. Market Dynamics
3.3.1. Market Driver Analysis
3.3.1.1. Increasing prevalence of target diseases
3.3.1.2. Preference to minimally invasive procedures
3.3.2. Market Restraint Analysis
3.3.2.1. High risk option for severe cases
3.3.2.2. Lack of technical training for the MIS procedure
3.3.3. Industry Opportunity Analysis
3.3.3.1. Approval of endovascular procedures in office-based labs
3.3.3.2. Flexibility for physicians to convert to OBLs
3.4. Regulatory Framework & Reimbursement Scenario
3.4.1. Regulatory Framework
3.4.2. Reimbursement Scenario
3.5. Industry Analysis Tools
3.5.1. Porter's Five Forces Analysis
3.5.2. PESTLE Analysis
Chapter 4. U.S. Office-Based Labs Market: Modality Analysis
4.1. U.S. Office-based Labs (OBLs): Modality Market Share Analysis, 2023 & 2030
4.2. Segment Dashboard
4.3. U.S. Office-based Labs (OBLs) Market, by Modality, 2018 - 2030
4.4. Market Size and Forecasts and Trend Analysis, 2018 - 2030 for the Modality
4.4.1. Single Specialty Labs
4.4.1.1. Single specialty labs market, 2018 - 2030 (USD Million)
4.4.2. Multi-Specialty Labs
4.4.2.1. Multi-specialty labs market, 2018 - 2030 (USD Million)
4.4.3. Hybrid Labs
4.4.3.1. Hybrid labs market, 2018 - 2030 (USD Million)
Chapter 5. U.S. Office-Based Labs Market: Service Analysis
5.1. U.S. Office-based Labs (OBLs): Service Market Share Analysis, 2023 & 2030
5.2. Segment Dashboard
5.3. U.S. Office-based Labs (OBLs) Market, by Modality, 2018 - 2030
5.4. Market Size and Forecasts and Trend Analysis, 2018 - 2030 for the Service
5.4.1. Peripheral Vascular Intervention
5.4.1.1. Peripheral vascular intervention market, 2018 - 2030 (USD Million)
5.4.2. Cardiac
5.4.2.1. Cardiac market, 2018 - 2030 (USD Million)
5.4.3. Interventional Radiology
5.4.3.1. Interventional radiology market, 2018 - 2030 (USD Million)
5.4.4. Venous
5.4.4.1. Venous market, 2018 - 2030 (USD Million)
5.4.5. Endovascular Interventions
5.4.5.1. Endovascular interventions market, 2018 - 2030 (USD Million)
5.4.6. Others
5.4.6.1. Others market, 2018 - 2030 (USD Million)
Chapter 6. U.S. Office-Based Labs Market: Specialist Analysis
6.1. U.S. Office-based Labs (OBLs): Specialist Market Share Analysis, 2023 & 2030
6.2. Segment Dashboard
6.3. U.S. Office-based Labs (OBLs) Market, by Modality, 2018 - 2030
6.4. Market Size and Forecasts and Trend Analysis, 2018 - 2030 for the Specialist
6.4.1. Vascular Surgeons
6.4.1.1. Vascular surgeons market, 2018 - 2030 (USD Million)
6.4.2. Interventional Cardiologists
6.4.2.1. Interventional cardiologists market, 2018 - 2030 (USD Million)
6.4.3. Interventional Radiologists
6.4.3.1. Interventional radiologists market, 2018 - 2030 (USD Million)
6.4.4. Other Specialists
6.4.4.1. Other specialists market, 2018 - 2030 (USD Million)
Chapter 7. U.S. Office-Based Labs Market: Regional Analysis
7.1. U.S. Office-Based Labs (OBLs) Market, 2018 - 2030 (USD Million)
7.2. U.S Office-Based Labs (OBLs) Market: Top 5 States
7.2.1. Penetration Analysis: Top 5 states 2022
7.3. Pricing Analysis
7.3.1. Average cost of major procedures performed in office-based labs
7.3.2. Average cost of major devices used in office-based labs
7.3.3. Average cost of setting up an office-based labs
Chapter 8. Competitive Analysis
8.1. Company Profiles
8.1.1. Suppliers
8.1.1.1. Koninklijke Philips N.V
8.1.1.1.1. Overview
8.1.1.1.2. Financial Performance
8.1.1.1.3. Product Benchmarking
8.1.1.1.4. Strategic Initiatives
8.1.1.2. GE Healthcare
8.1.1.2.1. Overview
8.1.1.2.2. Financial Performance
8.1.1.2.3. Product Benchmarking
8.1.1.2.4. Strategic Initiatives
8.1.1.3. Siemens Healthineers AG
8.1.1.3.1. Overview
8.1.1.3.2. Financial Performance
8.1.1.3.3. Product Benchmarking
8.1.1.3.4. Strategic Initiatives
8.1.1.4. Medtronic PLC
8.1.1.4.1. Overview
8.1.1.4.2. Financial Performance
8.1.1.4.3. Product Benchmarking
8.1.1.4.4. Strategic Initiatives
8.1.1.5. Boston Scientific Corporation
8.1.1.5.1. Overview
8.1.1.5.2. Financial Performance
8.1.1.5.3. Product Benchmarking
8.1.1.5.4. Strategic Initiatives
8.1.1.6. Abbott
8.1.1.6.1. Overview
8.1.1.6.2. Financial Performance
8.1.1.6.3. Product Benchmarking
8.1.1.6.4. Strategic Initiatives
8.1.1.7. Cardiovascular Systems, Inc.
8.1.1.7.1. Overview
8.1.1.7.2. Financial Performance
8.1.1.7.3. Product Benchmarking
8.1.1.7.4. Strategic Initiatives
8.1.2. Service Providers
8.1.2.1. Envision Healthcare Corporation
8.1.2.1.1. Overview
8.1.2.1.2. Financial Performance
8.1.2.1.3. Service Benchmarking
8.1.2.1.4. Strategic Initiatives
8.1.2.2. Surgical Care Affiliates (SCA)
8.1.2.2.1. Overview
8.1.2.2.2. Financial Performance
8.1.2.2.3. Service Benchmarking
8.1.2.2.4. Strategic Initiatives
8.1.2.3. Fresenius Medical Car
8.1.2.3.1. Overview
8.1.2.3.2. Financial Performance
8.1.2.3.3. Service Benchmarking
8.1.2.3.4. Strategic Initiatives
8.1.2.4. Cardiovascular Coalition
8.1.2.4.1. Overview
8.1.2.4.2. Financial Performance
8.1.2.4.3. Service Benchmarking
8.1.2.4.4. Strategic Initiatives
8.1.2.5. Surgery Partners
8.1.2.5.1. Overview
8.1.2.5.2. Financial Performance
8.1.2.5.3. Service Benchmarking
8.1.2.5.4. Strategic Initiatives
8.1.2.6. TH Medical
8.1.2.6.1. Overview
8.1.2.6.2. Financial Performance
8.1.2.6.3. Service Benchmarking
8.1.2.6.4. Strategic Initiatives
8.2. Company Categorization: Suppliers
8.3. Company Categorization: Service Providers
8.4. Company Market Position Analysis: Suppliers
8.5. Company Market Position Analysis: Service Providers
8.6. Company Market Position Analysis: Imaging Devices Manufacturer
8.7. Company Market Position Analysis: Vascular Intervention Devices
8.8. Strategy Mapping
Chapter 9. KOL Comments & Recommendations
List of Tables
Table 1. List of Secondary Sources
Table 2. List of Abbreviation
Table 3. Procedure codes and physician reimbursement, 2022
Table 4. Shifting trends from the inpatient facility to the outpatient facility
Table 5. U.S. Office-Based Labs Market, by Modality, 2018 - 2030 (USD Million)
Table 6. U.S. Office-Based Labs Market, by Services, 2018 - 2030 (USD Million)
Table 7. U.S. Office-Based Labs Market, by Specialists, 2018 - 2030 (USD Million)
List of Figures
Fig 1. Market research process
Fig 2. Information procurement
Fig 3. Primary research pattern
Fig 4. Market research approaches
Fig 5. Value chain-based sizing & forecasting
Fig 6. Market formulation & validation
Fig 7. U.S. office-based labs market segmentation
Fig 8. Market snapshot, 2023
Fig 9. Segment snapshot
Fig 10. Competitive landscape snapshot
Fig 11. Market trends & outlook
Fig 12. Market driver relevance analysis (current & future impact)
Fig 13. Market restraint relevance analysis (current & future impact)
Fig 14. PESTLE analysis
Fig 15. Porter’s five forces analysis
Fig 16. U.S. Office-Based Labs (OBLs) market: Modality outlook and key takeaways
Fig 17. U.S. Office-Based Labs (OBLs) market: Modality movement analysis
Fig 18. Single specialty labs market revenue, 2018 - 2030 (USD Million)
Fig 19. Multi-specialty labs market revenue, 2018 - 2030 (USD Million)
Fig 20. Hybrid labs media market revenue, 2018 - 2030 (USD Million)
Fig 21. U.S. Office-Based Labs (OBLs) market: Service outlook and key takeaways
Fig 22. U.S. Office-Based Labs (OBLs) market: Service movement analysis
Fig 23. Peripheral vascular intervention market revenue, 2018 - 2030 (USD Million)
Fig 24. Cardiac market revenue, 2018 - 2030 (USD Million)
Fig 25. Interventional radiology market revenue, 2018 - 2030 (USD Million)
Fig 26. Venous market revenue, 2018 - 2030 (USD Million)
Fig 27. Endovascular interventions market revenue, 2018 - 2030 (USD Million)
Fig 28. Other services market revenue, 2018 - 2030 (USD Million)
Fig 29. U.S. Office-Based Labs (OBLs) market: Specialists outlook and key takeaways
Fig 30. U.S. Office-Based Labs (OBLs) market: Specialists movement analysis
Fig 31. Vascular surgeons market revenue, 2018 - 2030 (USD Million)
Fig 32. Interventional cardiologists market revenue, 2018 - 2030 (USD Million)
Fig 33. Interventional radiologists market revenue, 2018 - 2030 (USD Million)
Fig 34. Other specialists market revenue, 2018 - 2030 (USD Million)
Fig 35. Penetration analysis: Top 5 states 2022
Fig 36. Company competition categorization: Suppliers
Fig 37. Company competition categorization: Service providers
Fig 38. Company market position analysis: Suppliers
Fig 39. Company market position analysis (Imaging devices manufacturer)
Fig 40. Company market position analysis (Vascular intervention devices)
Fig 41. Company market position analysis: Service providers

Companies Mentioned

  • • Manufacturers
  • Koninklijke Philips N.V
  • GE Healthcare
  • Siemens Healthineers AG
  • Medtronic PLC
  • Boston Scientific Corp.
  • Abbott
  • Cardiovascular Systems, Inc.
  • • Service Providers
  • Envision Healthcare
  • Surgery Care Associates, Inc. (SCA)
  • Surgery Partners
  • National Cardiovascular Partners
  • Cardiovascular Coalition
  • TH Medical

Methodology

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Table Information