US independent medical laboratory industry scales to 20 billion US dollars

Qilu Securities' recent research report summarizes the development of the US independent medical laboratory, which divides the industry development of the US independent medical laboratory into several major stages:

The American Independent Medical Laboratory was born in the 1950s and 1960s. Driven by US government and commercial insurance agencies to control medical expenses and strengthen supervision, the industry has experienced two leap: the first time from the 1960s to the mid-80s, In the past 25 years, the industry's market share in medical testing has increased to 20%. The second time from the mid-1980s to the mid-1990s, the industry's share increased again by 16% to 36%.

Since the mid-1990s, the industry's market share has remained at around 35%, but the industry's internal mergers and acquisitions have intensified. The market share of the top two US companies, Quest and Labcorp, has increased from 50% in 2000 to 64% in 2008. With the rapid development of biotechnology, the internal structural upgrading of the industry, such as Quest's genetic testing revenue, increased from 9% in 2000 to 22% in 2010.

In addition, according to data from the Washington G-2 Reports, the US medical inspection industry's market capacity in 2010 reached US$62 billion, calculated based on a 32.8% share. The market size of independent medical laboratories is around US$20 billion.

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