U.S. Office-based Labs Market – By Modality (Single-specialty, Multi-specialty, Hybrid Labs), Service (Peripheral Vascular Intervention, Endovascular Interventions, Cardiac, Interventional Radiology), Specialist (Vascular Surgeons, Interventional Cardiologists) – Forecast (2024 – 2032)

U.S. Office-based Labs Market – By Modality (Single-specialty, Multi-specialty, Hybrid Labs), Service (Peripheral Vascular Intervention, Endovascular Interventions, Cardiac, Interventional Radiology), Specialist (Vascular Surgeons, Interventional Cardiologists) – Forecast (2024 – 2032)

U.S. Office-based Labs Market Size

U.S. Office-Based Labs Market size was valued at USD 11.2 billion in 2023 and is estimated to grow at a CAGR of 7.6% during the forecast period to reach USD 21 billion by 2032. An office-based labs (OBLs) refers to a medical facility located within a physician’s office or clinic that is equipped to perform diagnostic and therapeutic procedures on-site.

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These labs are designed to provide convenient access to medical services for patients while allowing physicians to maintain greater control over the diagnostic process and treatment plans. The increasing prevalence of target diseases, such as chronic kidney disease, deep vein thrombosis, and venous insufficiency, has emerged as a significant driver for the market. For instance, according to the Centers for Disease Control and Prevention (CDC), approximately 35.5 million adults were affected by chronic kidney disease (CKD) in the U.S.

Furthermore, growing advancements in medical technology have expanded the capabilities of performing a diverse array of diagnostic tests and treatments within office-based settings. The increasing adoption of endovascular treatment devices for various procedures, coupled with other contributing factors.
 

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U.S. Office-based Labs Market Trends

The increasing approval of endovascular procedures in office-based labs indicates a shift towards more accessible, cost-effective, and patient-centred vascular care, providing minimally invasive treatments with enhanced convenience and outcomes.

• Endovascular procedures performed in OBLs enhance access to patient care, especially in rural or underserved areas. This allows patients to receive treatment closer to home, reducing the necessity for long-distance travel to large medical centers.
• Endovascular treatment devices play a pivotal role in office-based labs by providing minimally invasive solutions for a broad spectrum of vascular conditions. These devices encompass various technologies, including catheters, balloons, stents, atherectomy devices, and embolic protection devices.
• Moreover, the growing approval of endovascular procedures in office-based labs offers numerous benefits, such as increased accessibility, convenience, cost-effectiveness, minimally invasive approaches, improved patient experience, workflow optimization, specialized expertise, flexibility, and infection control.

U.S. Office-based Labs Market Analysis

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Based on modality, the market is classified into single-specialty labs, multi-specialty labs and hybrid labs. The single speciality labs segment held a market size of 4.7 billion in 2023.

• Single specialty labs focus on a particular area of medicine, enabling healthcare providers to develop specialized expertise in that specific field. This focused approach can lead to quality care, improved patient outcomes, and enhanced diagnostic accuracy.
• Specializing in a single medical field enables office-based labs to streamline operations and allocate resources effectively, tailoring services to meet the unique requirements of patients in that specialty. This streamlined approach enhances efficiency, resulting in reduced wait times, faster delivery of test results, and a higher level of individualized care for patients.
• Moreover, single specialty labs within office-based settings offer cost-efficient solutions, patient-centric approaches, innovation opportunities, and enhanced referral networks.

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Based on service, the U.S. office-based labs market is bifurcated into peripheral vascular intervention, endovascular interventions, cardiac services, interventional radiology, venous services, and other services. The peripheral vascular intervention is estimated to account for a market size of USD 6.3 billion by the end of 2032.

• Peripheral vascular interventions play a crucial role in managing the treatment of peripheral arterial disease (PAD), a common condition characterized by narrowed or blocked arteries in the legs.
• Peripheral vascular interventions conducted in OBLs often employ minimally invasive techniques, such as angioplasty, stenting, and atherectomy. These methods result in smaller incisions, minimal trauma to adjacent tissues, and a reduced likelihood of complications.
• Moreover, peripheral vascular interventions in OBLs often involve a multidisciplinary team of healthcare providers, including vascular surgeons, interventional radiologists, cardiologists, and vascular medicine specialists.

Based on specialists, the U.S. office-based labs market is segmented into vascular surgeons, interventional, cardiologist, interventional radiologists, and other specialists. The vascular surgeons held a market share of 32.6% in the forecast period.

• Vascular surgeons are highly trained and specialized in diagnosing and treating conditions affecting the arteries, veins, and lymphatic systems. Their expertise encompasses a wide range of vascular procedures, including both open surgical techniques and minimally invasive endovascular interventions.
• Furthermore, vascular surgeons excel in utilizing minimally invasive techniques such as angioplasty, stenting, and atherectomy to treat vascular diseases.
• Moreover, in OBLs, vascular surgeons conduct comprehensive evaluations of patients with vascular conditions, which include performing physical examinations, reviewing medical histories, and interpreting diagnostic tests.

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U.S. office-based labs market accounted for USD 11.2 billion revenue in 2023 and is predicted to witness substantial industry progression over the analysis timeline.

• The country has a large population, with an increasing prevalence of targeted diseases such as hypertension, diabetes, hyperlipidemia and rising flexibility for physicians to convert to OBLs which play a crucial in modern healthcare delivery as it expands access, fosters innovation, supports value-based care, enhances efficiency, and improves patient experience.
• For instance, according to the Centers for Disease Control and Prevention (CDC) in 2023 approximately 38.4 million individuals, accounting for 11.6% of the population, were diagnosed with diabetes in U.S.
• Further, U.S. boasts a well-developed healthcare infrastructure with state-of-the-art medical facilities, advanced technologies, and highly skilled healthcare professionals. This infrastructure supports the establishment and operation of OBLs, ensuring high-quality care delivery in the region.

U.S. Office-based Labs Market Share

The U.S. office-based labs industry is competitive in nature, with several large multinationals and small and mid-sized companies competing in the industry. The development and launch of novel advanced devices based on different technologies is among a key market strategy. Some of the leading industry players including Siemens Healthineers AG, Abbott Laboratories, Koninklijke Philips N.V, among others have a notable presence in the market.

U.S. Office-based Labs Market Companies

Some of the eminent market participants operating in the U.S. office-based labs industry include

• Manufacturers
  • Koninklijke Philips N.V
  • GE Healthcare
  • Siemens Healthineers AG
  • Medtronic Plc
  • Boston Scientific Corporation
  • Abbott Laboratories
  • Cardiovascular Systems, Inc. 
• Service Providers
  • Envision Healthcare
  • Surgery Care Associates, Inc.
  • Surgery Partners
  • National Cardiovascular Partners
  • Cardiovascular Coalition
  • TH Medical

U.S. Office-based Labs Industry News

• In April 2023, Abbott finalized the acquisition of Cardiovascular Systems, Inc. a medical device company renowned for its innovative atherectomy system utilized in treating peripheral and coronary artery disease. This strategic move expanded Abbott's portfolio and strengthened its position in the cardiovascular market.
• In July 2023, Siemens Healthineers had launched the Atellica CI Analyzer, a compact testing system specifically designed to address operational challenges in labs. By empowering lab staff to focus on critical operations, the analyzer improved efficiency and patient care. This launch successfully addressed the market demand for enhanced lab efficiency and workflow optimization.

The U.S. office-based labs market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2018 – 2032 for the following segments

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Market, By Modality

• Single-specialty labs
• Multi-specialty labs
• Hybrid labs

Market, By Service

• Peripheral vascular interventions  
• Endovascular interventions 
• Cardiac services      
• Interventional radiology     
• Venous services       
• Other services

Market, By Speciality

• Vascular surgeons
• Interventional cardiologists
• Interventional radiologists
• Other specialists