The global office-based labs market is driven by the growing ageing population. Office-based labs provide an array of diagnostic and minor surgical services to patients at the doctor's office for convenient access. These labs equip doctors' offices with imaging equipment, surgical devices, and other medical technologies to perform accurate checkups and simple procedures onsite. Using office-based labs, doctors can diagnose and treat common ailments without referring patients to full-fledged hospitals or independent labs. This saves patients time and money spent on travel along with reducing hospital visits for minor illnesses.

The Global office-based labs market is estimated to be valued at US$ 24.53 Bn in 2024 and is expected to exhibit a CAGR of 7.6% over the forecast period 2024 to 2031.

Key Takeaways

The growing geriatric population is increasing the demand for convenient healthcare services. As per WHO, the global population aged 65 years and above is projected to grow from 703 million in 2019 to 1.5 billion by 2050. The rise in age-related chronic illnesses will augment the demand for preventive checkups and ongoing monitoring in Office-based Labs Market Size settings.

Key players operating in the office-based labs market are Koninklijke Philips N.V., GE Healthcare, Siemens Healthineers, Medtronic, Cardiovascular Systems, Inc., Envision Healthcare, Surgery Care Associate, Inc, Surgery Partners, Fresnius Medical Care, Terveystalo Healthcare, Healthway Medical, Quorom Health, HCA Halthcare, Tenet Healthcare, Mednax. Koninklijke Philips N.V. is one of the leading players with wide range of solutions for office-based diagnostics and minor procedures.

Global expansion strategies by leading lab companies through mergers, acquisitions and partnerships have increased their international footprint. This will drive the availability of quality point-of-care testing and minor surgeries across worldwide locations through office-based labs.

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