U.S. Office Based Labs Market Size, Share & Trends Analysis Report By Modality (Single Specialty, Multi-Specialty), By Service, By Specialist (Vascular Surgeons, Interventional Cardiologists), And Segment Forecasts, 2019 - 2026

Published: May, 2019 | Pages: 100 | Publisher: Grand View Research
Industry: Medical Devices | Report Format: Electronic (PDF)

The U.S. office-based labs market size is expected to reach USD 15.3 billion by 2026, according to a new report by Grand View Research, Inc., registering an 8.7% CAGR during the forecast period. Increasing prevalence of target diseases and rising preference for minimally invasive procedures in outpatient settings are major factors driving demand for office-based labs (OBL) in U.S. High prevalence of risk factors such as smoking, high blood pressure, diabetes, and high cholesterol, in combination with rising geriatric population, are expected to increase the incidence of peripheral artery diseases (PAD). The resultant surge in number of procedures performed for their treatment is anticipated to fuel the OBL market during the forecast period.

More than 250 million people worldwide suffer from peripheral artery diseases and their prevalence increased by 24.0% between 2000 and 2010; the trend is expected to continue over the coming years. Low-income countries witnessed a 29.0% growth in number of individuals suffering from PADs in the past decade, while high-income countries witnessed a growth of 13.0%. PADs increase the risk of stroke and heart attack and often lead to ischemic amputations. According to an estimation, 150,000 cases of ischemic amputations are recorded every year in U.S. alone.

Many service providers are available in U.S., such as National Cardiovascular Partners and Envision Healthcare and Surgery Partners, providing services related to office-based surgery to patients at an affordable cost.

Further key findings from the study suggest:

• Single specialty OBLs spearheaded the market in 2018, whereas hybrid office-based labs are anticipated to witness high growth during the forecast period. Single-specialty labs offer more patient-centric treatments while hybrid models offer more profitability with multiple facilities under one roof

• Peripheral vascular interventions (PVI) dominated the U.S. office-based labs market by service owing to high prevalence of atherosclerosis in the country. A large number of balloon angioplasty and stenting procedures being performed in patients with blocked arteries and veins has also aided segment growth

• Vascular surgeons are leading service providers in OBLs and held a major share in 2018 in terms of specialist. This is attributed to the rising burden of vascular diseases in the country. All the major vascular surgeries such as aortic, mesenteric, renal, subclavian, iliofemoral, tibial, and pedal are being performed by vascular surgeons in office settings

• In U.S. almost 70.0% of surgical procedures are performed in outpatient settings, out of which, around 25.0% are performed in a physician's office

• Key suppliers of vascular intervention devices include Abbott; Medtronic; Boston Scientific; and Cardiovascular System, Inc.

• In June 2017, Philips acquired CardioProlific Inc.-a U.S.-based privately held company involved in the development of catheter-based thrombectomy procedures for management of peripheral vascular disease. This helped strengthen its pipeline of catheter-based therapy devices that can be used for inpatient and outpatient facilities.

 Table of Contents

Chapter 1 Methodology and Scope
                    1.1 Market Segmentation & Scope
                        1.1.1 Modality
                        1.1.2 Service
                        1.1.3 Specialist
                        1.1.4 Regional Scope
                        1.1.5 Estimates and Forecast Timeline
                    1.2 Research Methodology
                    1.3 Information Procurement
                        1.3.1 Purchased Database
                        1.3.2 GVR's Internal Database
                        1.3.3 Secondary Sources
                        1.3.4 Primary Research
                    1.4 Information or Data Analysis
                    1.5 Market Formulation & Validation
                    1.6 Model Details
                        1.6.1 Commodity Flow Analysis (Model 1)
                        1.6.2 Volume Price Analysis (Model 2.1)
                    1.7 List of Secondary Sources
                    1.8 List of Primary Sources
                    1.9 List of Abbreviations
                    1.10 Objectives
                        1.10.1 Objective - 1
                        1.10.2 Objective - 2

Chapter 2 Executive Summary
                    2.1 Market Outlook
                    2.2 Segment Outlook
                        2.2.1 Modality
                        2.2.2 Services
                        2.2.3 Specialist
                        2.2.4 Region
                    2.3 Competitive Insights

Chapter 3 U.S. Office-based Labs (OBLs) Market Variables, Trends & Scope
                    3.1 Market Segmentation
                    3.2 Penetration & Growth Prospect Mapping
                        3.2.1 Penetration & Growth Prospect Mapping Analysis
                    3.3 Regulatory Framework & Reimbursement Scenario
                        3.3.1 Regulatory Framework
                        3.3.2 Reimbursement Scenario
                    3.4 Market Dynamics
                        3.4.1 Market Driver Analysis
                            3.4.1.1 Increasing prevalence of target diseases
                            3.4.1.2 Preference to minimally invasive procedures
                        3.4.2 Market Restraint Analysis
                            3.4.2.1 High risk option for severe cases
                            3.4.2.2 Lack of technical training for the MIS procedure
                        3.4.3 Industry Opportunities
                            3.4.3.1 Approval of endovascular procedures in Office-based labs
                            3.4.3.2 Flexibility for physicians to convert to OBLs
                    3.5 Business Environment Analysis Tools
                        3.5.1 Porter's Five Forces Analysis
                        3.5.2 PESTEL Analysis

Chapter 4 U.S. Office-based Labs (OBLs) Market: Modality Analysis
                    4.1 U.S. Office-based Labs (OBLs) Modality Market Share Analysis, 2018 & 2026
                    4.2 U.S. Office-based Labs (OBLs) Modality Market: Segment Dashboard:
                    4.3 Market Size & Forecasts and Trend Analyses, 2015 to 2026 for the Modality Segment
                        4.3.1 Single Specialty Labs
                            4.3.1.1 Single specialty labs market, 2015 - 2026 (USD Million)
                        4.3.2 Multi-Specialty Labs
                            4.3.2.1 Multi-specialty labs market, 2015 - 2026 (USD Million)
                        4.3.3 Hybrid Labs
                            4.3.3.1 Hybrid labs market, 2015 - 2026 (USD Million)
                            4.3.3.2 Qualitative analysis: Future trends of hybrid labs

Chapter 5 U.S. Office-based Labs (OBLs) Market: Service Analysis
                    5.1 U.S. Office-based Labs (OBLs) Market Services Market Share Analysis, 2018 & 2026
                    5.2 U.S. Office-based Labs (OBLs) Market Services Market: Segment Dashboard
                    5.3 Market Size & Forecasts and Trend Analyses, 2015 to 2026 for the Service
                        5.3.1 Peripheral Vascular Intervention
                            5.3.1.1 Peripheral vascular intervention market, 2015 - 2026 (USD Million)
                        5.3.2 Endovascular Interventions
                            5.3.2.1 Endovascular interventions market, 2015 - 2026 (USD Million)
                        5.3.3 Cardiac
                            5.3.3.1 Cardiac market, 2015 - 2026 (USD Million)
                        5.3.4 Interventional Radiology
                            5.3.4.1 Interventional radiology market, 2015 - 2026 (USD Million)
                        5.3.5 Venous
                            5.3.5.1 Venous market, 2015 - 2026 (USD Million)
                        5.3.6 Other Services
                            5.3.6.1 Other services market, 2015 - 2026 (USD Million)

Chapter 6 U.S. Office-based Labs (OBLs) Market: Specialist Analysis
                    6.1 U.S. Office-based Labs (OBLs) Market Specialists Market Share Analysis, 2018 & 2026
                    6.2 U.S. Office-based Labs (OBLs) Market Specialists Market: Segment Dashboard
                    6.3 Market Size & Forecasts and Trend Analyses, 2015 to 2026 for the Specialist
                        6.3.1 Vascular Surgeons
                            6.3.1.1 Vascular surgeons Market, 2015 - 2026 (USD Million)
                        6.3.2 Interventional Cardiologists
                            6.3.2.1 Interventional cardiologists market, 2015 - 2026 (USD Million)
                        6.3.3 Interventional Radiologists
                            6.3.3.1 Interventional radiologists market, 2015 - 2026 (USD Million)
                        6.3.4 Other Specialist
                            6.3.4.1 Other specialist market, 2015 - 2026 (USD Million)

Chapter 7 U.S. Office-based Labs (OBLs) Market: Regional Analysis
                    7.1 U.S. Office-based Labs (OBLs) Market, 2015 - 2026 (USD Million)

Chapter 8 Competitive Analysis
                    8.1 Recent Developments & Impact Analysis, by Key Market Participants
                    8.2 Strategic Framework/ Competition Categorization (Key innovators, Market leaders, emerging players
                    8.3 Vendor Landscape
                        8.3.1 Partnerships
                        8.3.2 Marketing & Promotions
                    8.4 Suppliers
                        8.4.1 Market Position Analysis : Imaging Devices Manufacturer
                        8.4.2 Market Position Analysis : Vascular Intervention Devices
                    8.5 Service Providers
                        8.5.1 Market Position Analysis
                    8.6 Suppliers Company Profiles
                        8.6.1 Philips Healthcare
                            8.6.1.1 Company overview
                            8.6.1.2 Financial performance
                            8.6.1.3 Product benchmarking
                            8.6.1.4 Strategic initiatives
                            8.6.1.5 SWOT analysis
                        8.6.2 GE Healthcare
                            8.6.2.1 Company overview
                            8.6.2.2 Financial performance
                            8.6.2.3 Product benchmarking
                            8.6.2.4 Strategic initiatives
                            8.6.2.5 SWOT analysis
                        8.6.3 Siemens Healthineers
                            8.6.3.1 Company overview
                            8.6.3.2 Financial performance
                            8.6.3.3 Product benchmarking
                            8.6.3.4 Strategic initiatives
                            8.6.3.5 SWOT analysis
                        8.6.4 Medtronic
                            8.6.4.1 Company overview
                            8.6.4.2 Financial performance
                            8.6.4.3 Product benchmarking
                            8.6.4.4 Strategic initiatives
                            8.6.4.5 SWOT analysis
                        8.6.5 Boston Scientific Corporation
                            8.6.5.1 Company overview
                            8.6.5.2 Financial performance
                            8.6.5.3 Product benchmarking
                            8.6.5.4 Strategic initiatives
                            8.6.5.5 SWOT analysis
                        8.6.6 Abbott
                            8.6.6.1 Company overview
                            8.6.6.2 Financial performance
                            8.6.6.3 Product benchmarking
                            8.6.6.4 Strategic initiatives
                            8.6.6.5 SWOT analysis
                        8.6.7 Cardiovascular Systems, Inc.
                            8.6.7.1 Company overview
                            8.6.7.2 Financial performance
                            8.6.7.3 Product benchmarking
                            8.6.7.4 Strategic initiatives
                            8.6.7.5 SWOT analysis
                    8.7 Service Providers Company Profiles
                        8.7.1 Envision Healthcare
                            8.7.1.1 Company overview
                            8.7.1.2 Services benchmarking
                            8.7.1.3 Strategic initiatives
                        8.7.2 Surgery Care Affiliates (SCA)
                            8.7.2.1 Company overview
                            8.7.2.2 Services benchmarking
                            8.7.2.3 Strategic initiatives
                        8.7.3 Tenet Healthcare Corporation
                            8.7.3.1 Company overview
                            8.7.3.2 Financial performance
                            8.7.3.3 Services benchmarking
                            8.7.3.4 Strategic initiatives
                        8.7.4 National Cardiovascular Partners, LP
                            8.7.4.1 Company overview
                            8.7.4.2 Services benchmarking
                        8.7.5 Surgery Partners
                            8.7.5.1 Company overview
                            8.7.5.2 Financial performance
                        8.7.6 Cardiovascular Coalition
                            8.7.6.1 Company overview

Chapter 9 Recommendations
                    9.1 KOL Commentary
                    9.2 Recommendations

List of Tables

TABLE 1 List of secondary sources
TABLE 2 List of abbreviation
TABLE 3 Procedure codes and physician reimbursement for endovascular procedures, 2018
TABLE 4 Shifting trends from inpatient facility to outpatient facility
TABLE 5 Reimbursement codes for endovenous ablation
TABLE 6 U.S. Office-based Labs (OBLs) market, by modality, 2015 - 2026 (USD Million)
TABLE 7 U.S. Office-based Labs (OBLs) market, by services, 2015 - 2026 (USD Million)
TABLE 8 U.S. Office-based Labs (OBLs) market, by specialists, 2015 - 2026 (USD Million)
TABLE 9 U.S. Office-based labs market: Top 5 states (2014)

List of Figures

Fig. 1 Market research process
Fig. 2 Data triangulation techniques
Fig. 3 Primary research pattern
Fig. 4 Market research approaches
Fig. 5 Value chain based sizing & forecasting
Fig. 6 QFD modelling for market share assessment
Fig. 7 Market formulation & validation
Fig. 8 Market outlook
Fig. 9 U.S. OBLs market segmentation
Fig. 10 Penetration & growth prospect mapping
Fig. 11 Market driver relevance analysis (Current & future impact)
Fig. 12 Market restraint relevance analysis (Current & future impact)
Fig. 13 Porter's five forces analysis
Fig. 14 PESTLE analysis
Fig. 15 U.S. OBLs modality market share analysis, 2018 & 2026
Fig. 16 U.S. OBLs modality market: Segment dashboard
Fig. 17 Single specialty labs market, 2015 - 2026 (USD Million)
Fig. 18 Multi-specialty labs market, 2015 - 2026 (USD Million)
Fig. 19 Hybrid labs market, 2015 - 2026 (USD Million)
Fig. 20 U.S. Office-based Labs (OBLs) market services movement analysis, 2018 & 2026
Fig. 21 U.S. Office-based Labs (OBLs) market services market: Segment dashboard
Fig. 22 Peripheral vascular intervention market, 2015 - 2026 (USD Million)
Fig. 23 Endovascular interventions market, 2015 - 2026 (USD Million)
Fig. 24 Cardiac market, 2015 - 2026 (USD Million)
Fig. 25 Interventional radiology market, 2015 - 2026 (USD Million)
Fig. 26 Venous market, 2015 - 2026 (USD Million)
Fig. 27 Other service market, 2015 - 2026 (USD Million)
Fig. 28 U.S. Office-based Labs (OBLs) market specialist movement analysis, 2018 & 2026
Fig. 29 U.S. Office-based Labs (OBLs) market specialists market: Segment dashboard
Fig. 30 Vascular surgeons market, 2015 - 2026 (USD Million)
Fig. 31 Interventional cardiologists market, 2015 - 2026 (USD Million)
Fig. 32 Interventional radiologists market, 2015 - 2026 (USD Million)
Fig. 33 Other specialists market, 2015 - 2026 (USD Million)
Fig. 34 Recent developments & impact analysis, by key market participants
Fig. 35 Strategy framework
Fig. 36 Company market position analysis ( Imaging devices manufacturer)
Fig. 37 Company market position analysis ( Vascular intervention devices)
Fig. 38 Company market position analysis