{"product_id":"laboratory-market-report-2022","title":"Laboratory Market Report 2022","description":"\u003cp\u003eLaboratory Market Report 2022\u003c\/p\u003e\n\n\n\n\u003cp\u003eMarket-At-A-Glance\u003c\/p\u003e\n\n\u003cp\u003eThe U.S. laboratory market was valued at $112.1 billion in 2021, a 6% increase from $105.5 billion in 2020. COVID-19 testing was a major factor in the laboratory market growth in 2021. Moving forward, growth drivers include new and improved service capabilities, the aging U.S. population, and the high rate of chronic diseases. There are 330,000 Clinical Laboratory Improvement Amendment (CLIA) certified laboratories in the U.S. including physician offices, nursing homes, and other non-acute settings, according to the Centers for Medicare \u0026amp; Medicaid Services (CMS).\u003c\/p\u003e\n\n\n\n\u003cp\u003eCOVID-19 Testing Demand Drives Increase Of At-Home Testing\u003c\/p\u003e\n\n\u003cp\u003eThe U.S. home testing market is projected to reach $11.0 billion by 2027. At the start of 2021, the Omicron wave fueled demand for at-home COVID-19 tests from consumers and the government as 28 million at-home COVID-19 antigen tests were performed each week. During the first quarter of 2022, coronavirus-related medical supplies and testing products revenue was $836 million.\u003c\/p\u003e\n\n\n\n\u003cp\u003eDemand For Clinical Lab Technologists To Rise 19% By 2030\u003c\/p\u003e\n\n\u003cp\u003eLaboratory technologists were the second most in-demand allied health professionals in 2021. The U.S. faces a shortage of roughly 20,000 to 25,000 medical laboratory professionals in 2022. Sixty percent of lab employers offer continuing education to employees to address the medical laboratory science (MLS) workforce shortage in 2022.\u003c\/p\u003e\n\n\n\n\u003cp\u003eLaboratory Digitization Set To Improve Laboratory Services\u003c\/p\u003e\n\n\u003cp\u003eSixty-eight percent of surveyed laboratory executives reported that their highest priority for labs’ budgets is investing in new technology to improve quality and reduce costs. The hospital laboratory market has evolved in recent years to become more automated and artificial intelligence (AI) based. Technology investments have the potential to accelerate remote diagnosis and ease the staffing shortage burden in laboratories.\u003c\/p\u003e\n\n\n\n\u003cp\u003eRoutine Lab Testing Declines As Payment Rates Fall\u003c\/p\u003e\n\n\u003cp\u003ePayment rates were reduced for 19 of the top 25 lab tests in 2021. Routine laboratory testing volume declined significantly due to less overall healthcare utilization and reduced payment rates for certain tests. Under the Protecting Access To Medicare Act (PAMA), more than 800 laboratory tests are scheduled to be cut by up to 15% on January 1, 2023. Previous Medicare reimbursement cuts led to 27% reductions for laboratory tests between 2017 and 2022.\u003c\/p\u003e","brand":"Life Science","offers":[{"title":"November, 2022 \/ 24 Pages \/ MCW16233664","offer_id":47650813018418,"sku":null,"price":3000.0,"currency_code":"USD","in_stock":true}],"url":"https:\/\/www.hardmanwell.com\/products\/laboratory-market-report-2022","provider":"HARDMAN AND WELL MANAGEMENT CONSULTANCIES L.L.C","version":"1.0","type":"link"}