U.S. Office-based Labs Market Worth $18.3 Billion By 2030

The U.S. office-based labs market is projected to value USD 18.3 billion by 2030, registering a compound annual growth rate (CAGR) of 7.46% from 2022 to 2030. The U.S. office-based labs market is driven by the rising cases of cardiovascular diseases, particularly Peripheral Artery Diseases (PADs) among the geriatric population. A large number of patients in the U.S. opt for outpatient appointments, which is fueling the growth of office-based labs (OBL).

The healthcare sector has largely evolved with the onset of technological advancements and is likely to experience several changes in the coming years. Furthermore, people are keen on finding healthcare solutions that are affordable and provide optimal results. The cost-effectiveness of OBL is a major force behind the shifting preferences of consumers. In addition, some of the primary reasons to visit OBLs include preventive care, pre/post-surgery care, underlying chronic condition, and injuries/trauma.

Private practices, including OBLs, delayed elective procedures amid the COVID-19 pandemic. These comprised elective angioplasty, elective rotational atherectomy during transcatheter aortic valve implantation, and any specific vascular operations that are usually carried out under general or peripheral anesthesia. The Commonwealth Fund's research indicates that, as of August 2020, there were 60% fewer ambulatory practices overall, and provider office visits decreased significantly. Although many OBLs in the United States have reported a severe fall in business, some of them still provide testing services and post-respiratory therapy.

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U.S. Office-based Labs Market Highlights

• The demand for vascular procedures in the U.S. is driven by the high prevalence of risk factors including smoking, diabetes, high blood pressure, and cholesterol

• Nearly 70% of surgical procedures in the US are carried out in outpatient settings, with 25% of those operations taking place in a medical practitioner’s office

• Mergers & acquisitions, new product launches, and technological advancements are among the strategies followed by key players. In May 2021, UCI Health and Surgery Partners collaborated to develop outpatient surgical facilities and optimize tests results

U.S. Office-based Labs Market Segments

U.S. Office-based Labs Modality Outlook (Revenue, USD Million, 2017 - 2030)
    • Single-specialty Labs
    • Multi-specialty Labs
    • Hybrid Labs

U.S. Office-based Labs Service Outlook (Revenue, USD Million, 2017 - 2030)
    • Peripheral Vascular Intervention
    • Endovascular Interventions
    • Cardiac
    • Interventional Radiology
    • Venous
    • Others

U.S. Office-based Labs Specialty Outlook (Revenue, USD Million, 2017 - 2030)
    • Vascular Surgeons
    • Interventional Cardiologist
    • Interventional Radiologists
    • Others

List of Key Players in the U.S. Office-based Labs (OBLs) Market
    • 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
        • Service Providers