NAICS 62151 - Medical and Diagnostic Laboratories
This industry comprises establishments known as medical and diagnostic laboratories primarily engaged in providing analytic or diagnostic services, including body fluid analysis and diagnostic imaging, generally to the medical profession or to the patient on referral from a health practitioner.
Industry trends:
The medical and diagnostic laboratories industry (NAICS 62151) is currently experiencing several qualitative trends driven by technological advancements, increasing healthcare demands, and regulatory changes. One significant trend is the growing integration of artificial intelligence and machine learning in diagnostic processes. These technologies are enhancing accuracy and efficiency in disease detection and management, leading to better patient outcomes.
Another noticeable trend is the rising demand for personalized medicine. As genomic and molecular testing become more advanced and accessible, laboratories are focusing on customized diagnostic services tailored to individual genetic profiles. This approach not only improves treatment efficacy but also shifts the industry towards more preventive healthcare.
Digital transformation is further reshaping the industry's landscape. Electronic health records (EHRs) and telemedicine are becoming standard practice, enabling seamless data sharing and remote diagnostics. This shift is particularly relevant as the medical sector moves towards value-based care, emphasizing the importance of efficient and cost-effective services.
In the near future, forecasts suggest a continued emphasis on these technological innovations. The adoption of next-generation sequencing (NGS) and CRISPR technologies is expected to expand, offering unprecedented insights into complex diseases. Additionally, the ongoing COVID-19 pandemic has highlighted the need for rapid and scalable diagnostic solutions, likely accelerating investment in automated laboratory equipment and digital health platforms.
Overall, medical and diagnostic laboratories are poised to benefit from these transformative trends, with a focus on integrating cutting-edge technologies and personalized approaches to meet evolving healthcare challenges.
This industry is comprised of:
This report includes the ability to segment your Industry by:
- Region
- Employees
- Net Sales
- Company Age
- Total Assets
- Ownership Type
With iCFO You Get
What Is iCFO?
A review and comparison of financial performance of privately-help companies in specified SIC/NAICS industry segment, using industry standard benchmarks.
Sound Business Analysis
Answers come easily with iCFO. Review ROI, sales per employee, profit margins of the top 10%, top 25% and more, to identify areas of concern and opportunity. Examine what if scenarios and P&L impact of reducing costs or adding revenue.
Your Business’ Health In Minutes
It takes only five minutes to enter your data and produce a concise profile of your company’s fiscal state, including critical business ratios focusing on liquidity, profitability, asset efficiency, and growth.