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 18.104.22.168 Increasing prevalence of target diseases 22.214.171.124 Preference to minimally invasive procedures 3.4.2 Market Restraint Analysis 126.96.36.199 High risk option for severe cases 188.8.131.52 Lack of technical training for the MIS procedure 3.4.3 Industry Opportunities 184.108.40.206 Approval of endovascular procedures in Office-based labs 220.127.116.11 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 18.104.22.168 Single specialty labs market, 2015 - 2026 (USD Million) 4.3.2 Multi-Specialty Labs 22.214.171.124 Multi-specialty labs market, 2015 - 2026 (USD Million) 4.3.3 Hybrid Labs 126.96.36.199 Hybrid labs market, 2015 - 2026 (USD Million) 188.8.131.52 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 184.108.40.206 Peripheral vascular intervention market, 2015 - 2026 (USD Million) 5.3.2 Endovascular Interventions 220.127.116.11 Endovascular interventions market, 2015 - 2026 (USD Million) 5.3.3 Cardiac 18.104.22.168 Cardiac market, 2015 - 2026 (USD Million) 5.3.4 Interventional Radiology 22.214.171.124 Interventional radiology market, 2015 - 2026 (USD Million) 5.3.5 Venous 126.96.36.199 Venous market, 2015 - 2026 (USD Million) 5.3.6 Other Services 188.8.131.52 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 184.108.40.206 Vascular surgeons Market, 2015 - 2026 (USD Million) 6.3.2 Interventional Cardiologists 220.127.116.11 Interventional cardiologists market, 2015 - 2026 (USD Million) 6.3.3 Interventional Radiologists 18.104.22.168 Interventional radiologists market, 2015 - 2026 (USD Million) 6.3.4 Other Specialist 22.214.171.124 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 126.96.36.199 Company overview 188.8.131.52 Financial performance 184.108.40.206 Product benchmarking 220.127.116.11 Strategic initiatives 18.104.22.168 SWOT analysis 8.6.2 GE Healthcare 22.214.171.124 Company overview 126.96.36.199 Financial performance 188.8.131.52 Product benchmarking 184.108.40.206 Strategic initiatives 220.127.116.11 SWOT analysis 8.6.3 Siemens Healthineers 18.104.22.168 Company overview 22.214.171.124 Financial performance 126.96.36.199 Product benchmarking 188.8.131.52 Strategic initiatives 184.108.40.206 SWOT analysis 8.6.4 Medtronic 220.127.116.11 Company overview 18.104.22.168 Financial performance 22.214.171.124 Product benchmarking 126.96.36.199 Strategic initiatives 188.8.131.52 SWOT analysis 8.6.5 Boston Scientific Corporation 184.108.40.206 Company overview 220.127.116.11 Financial performance 18.104.22.168 Product benchmarking 22.214.171.124 Strategic initiatives 126.96.36.199 SWOT analysis 8.6.6 Abbott 188.8.131.52 Company overview 184.108.40.206 Financial performance 220.127.116.11 Product benchmarking 18.104.22.168 Strategic initiatives 22.214.171.124 SWOT analysis 8.6.7 Cardiovascular Systems, Inc. 126.96.36.199 Company overview 188.8.131.52 Financial performance 184.108.40.206 Product benchmarking 220.127.116.11 Strategic initiatives 18.104.22.168 SWOT analysis 8.7 Service Providers Company Profiles 8.7.1 Envision Healthcare 22.214.171.124 Company overview 126.96.36.199 Services benchmarking 188.8.131.52 Strategic initiatives 8.7.2 Surgery Care Affiliates (SCA) 184.108.40.206 Company overview 220.127.116.11 Services benchmarking 18.104.22.168 Strategic initiatives 8.7.3 Tenet Healthcare Corporation 22.214.171.124 Company overview 126.96.36.199 Financial performance 188.8.131.52 Services benchmarking 184.108.40.206 Strategic initiatives 8.7.4 National Cardiovascular Partners, LP 220.127.116.11 Company overview 18.104.22.168 Services benchmarking 8.7.5 Surgery Partners 22.214.171.124 Company overview 126.96.36.199 Financial performance 8.7.6 Cardiovascular Coalition 188.8.131.52 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
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