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Global Market Study on Office-based Labs: Increasing Adoption of Non-Physician Care Models at OBLs Catalyzing Market Growth


Office Based Lab  Market
  • Published On : Jul-2020 |
  • Pages : 145 Pages |
  • Format : Office Based Lab  Market Office Based Lab  Market Office Based Lab  Market Office Based Lab  Market

Over the last few years, there has been a rise in the incidence of complex lesions, which may require same-day intervention. At office-based labs, surgical procedures for peripheral artery disease (PAD), chronic total occlusions (CTOs), and calcified vessels can be performed safely and effectively. Also, a shift has been observed among patient to visit office-based labs for the treatment of complex lesions. Moreover, physicians are also working with office-based labs to perform complex surgical procedures, with the aim of achieving greater results. Therefore, the rise in complex procedures that require same-day intervention is expected to aid the growth of the the office-based lab market981棋牌app下载 across the world.

Office-based Lab Market Trends

Smooth Workflow at Office-based Labs: According to various surveys conducted in the U.S., overall satisfaction rates with office-based lab services are at over 97%.981棋牌app下载 Patients are also very satisfied because of the quality of the staff and streamlined services at OBLs. Office-base labs have highly qualified specialists and technologists. Besides this, such labs also maintain the records of their patients in a proper manner to provide quality care. Therefore, smooth workflow at OBLs and high satisfaction rates among patients will expand the office-based lab market size over the coming years.

Migration of Procedures from Hospitals to Office-based Labs due to Favorable Reimbursement Scenario: Currently, office-based labs are spreading awareness among policy makers regarding their advantages and smooth workflow. As a result, in 2008, Medicare changed it reimbursement policies and availed high reimbursements for surgical procedures at outpatient facilities. The key agenda of Medicare, besides this decision, is to deduce the workload at inpatient facilities and increase the adoption of outpatient facilities. New policies encourage patients to visit outpatient facilities, rather than inpatient facilities. As a result, the number lower extremity bypass surgical procedures has decreased at inpatient facilities, and gradually increased at outpatient facilities.

High Standard Requirements for Launching Office-based Labs: The launching of an office-based lab is an intimidating task, as several guidelines need to be fulfilled before its launch. Firstly, the facility requires high expertise medical specialists. Many physicians found it difficult for then to manage their medical facility alongside an office-based lab.  Also, the launching of an office-based lab requires licensing, which needs to meet high requirements. This may include reconstruction and major design changes of the healthcare facility. For e.g., the width of doorways, emergency power backup, etc. Therefore, high standard requirements needed to launch office-based labs can adversely affect market growth to some extent.

Regional Analysis of Office-based Lab Market

981棋牌app下载Europe and North America hold a bulk of the global office-based lab market share, and this is expected to continue over the coming years too. However, increasing lucrative opportunities will arise out of Asia and South America, as a result of rising awareness about the various benefits of office-based labs across these regions.

COVID-19 Impact on Office-based Lab Market

The global outbreak of COVID-19 has resulted in lockdowns, shutdowns, and travel restrictions in the first half of 2020. A majority of developed countries have ordered hospitals to postpone non-essential surgical procedures as most of the hospitals beds are needed to treat COVID-19 patients. At office-based labs, non-essential surgical procedures can be performed smoothly and patients can get discharged on the same day. As such, the COVID-19 981棋牌app下载pandemic can act as an opportunity for the further growth of the office-based lab market space.

Analysts’ Viewpoint

An extensive analysis of the office-based lab market has brought our analysts to a conclusion that, the market is growing at a significant pace. Currently, hybrid set-up models is the target segment for major healthcare facilities, and hence, this segment is anticipated to gain more traction in the office-based lab market, by set-up model, in terms of market growth. Europe and North America collectively hold more than 85% of revenue share, due to the high adoption of office-based labs in these regions. Emerging countries such as Brazil, China, and India are expected to offer lucrative opportunities for the office-based lab market, owing to increasing awareness and initiatives by hospital systems for expanding primary care.

Office-based Lab Market - Scope of the Report

A latest publication by Persistence Market Research (PMR) on the global office-based lab market evaluates the opportunities and current market landscape, and provides detailed analysis and updates about corresponding sections affecting the global office-based lab market. The study offers detailed insights on key market dynamics, which includes the drivers, restraints, trends, and opportunities in the global office-based lab market. The principal aim of the market study is to present exclusive information about how the office-based lab market will perform during the forecast period of 2020-2030.

Important indicators for successful growth of the office-based lab market are presented in this comprehensive report, which include Year-on-Year (Y-o-Y) growth analysis of the market and compounded annual growth rate (CAGR), which are described in an exhaustive way in PMR's research. This research study can support readers understand the quantitative development opportunities during the study period.

The research is beneficial for shareholders in the office-based lab market space, including investors, manufacturers, service providers, distributors, and suppliers, and can help them in developing suitable business strategies to flourish in the office-based lab market. The insights and wisdom presented in this PMR’s study can be leveraged by shareholders in the office-based lab market, industry experts, investors, researchers, and reporters, as well as business enthusiasts.

981棋牌app下载Market statistics as well as information linked to the macro- as well as micro-economic variables affecting the business scenario in the office-based lab market are also included in the study. Depending on potential developments in the office-based lab market, substantive insights are also encountered in this report. Additionally, by virtue of the data submitted in this market report, minor companies and new entrants in the office-based lab industry can make suitable company choices to achieve traction in the office-based lab market.

Key Segments of Office-Based Lab Market

PMR’s study on the office-based lab market offers information divided into four important segments— service, set-up model, specialist, and region. This report offers comprehensive data and information about the important market dynamics and growth parameters associated with these categories.

Service

  • Peripheral Vascular Intervention
  • Interventional Radiology
  • Endovascular Therapy
  • Cardiovascular
  • Venous
  • Non-vascular

Set-up Model

  • Single Specialty
  • Multi-Specialty
  • Hybrid

Specialist

  • Vascular Surgeons
  • Interventional Cardiologists
  • Interventional Radiologists
  • Others

Region

  • North America
  • Latin America
  • Europe.
  • Asia-Pacific
  • Middle East & Africa

Key Questions Answered in PMR’s Office-based Lab Market Report

  • Which regions will continue to remain the most profitable regional markets for office-based lab market players?
  • Which factors will induce a change in the demand for office-based labs during the assessment period?
  • How will changing trends impact the office-based lab market?
  • How can market players capture the low-hanging opportunities in the office-based lab market in developed regions?
  • What are the winning strategies of stakeholders in the office-based lab market to upscale their position in this landscape?
  • What are the restraints that investors need to be aware of and might tackle while investing in the office-based lab market?
  • What are the developmental trends in office-based lab sectors that will impact the market?
  • How can businesses in the office-based lab market avail the growth opportunities in developed and emerging sectors?

Office-Based Lab Market: Research Methodology

In PMR’s study, a unique research methodology is utilized to conduct extensive research on the growth of the office-based lab market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure accuracy and reliability of the conclusions.

981棋牌app下载Secondary resources referred to by analysts during the production of the office-based lab market study include statistics from governmental organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, who contributed to the development of this report as a primary resource.

Comprehensive information acquired from primary and secondary resources acts as a validation from companies in the office-based lab market, and makes PMR’s projection on the growth prospects of the office-based lab market more accurate and reliable.

Companies covered in Office Based Lab Market Report

  • Tenet Healthcare
  • Mednax
  • Envision Healthcare
  • Quorum Health
  • HCA Healthcare
  • Fresenius Medical Care
  • Team Health
  • Terveystalo Healthcare
  • Healthway Medical
  • Surgery Partners
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