Office-based Labs Market Size, Share, Growth Analysis, By Modality(Single-specialty labs, multi-specialty labs, hybrid labs.), By Service(Peripheral vascular intervention, endovascular interventions, cardiac, interventional radiology), By Specialists(Vascular surgeons, ophthalmology, pain management, gastroenterology), By Region - Industry Forecast 2024-2031

Office-based Labs Market size was valued at USD 39.77 billion in 2019 and is poised to grow from USD 43.09 billion in 2023 to USD 88.77 billion by 2031, growing at a CAGR of 8.36% in the forecast period (2024-2031).

This vendor landscape of the market can be divided into three distinct sectors: medical imaging device manufacturers, vascular intervention device manufacturers, and service providers who provide end-to-end services to physicians for lab setup. The service providers are focused on enhancing their range of services and undertake initiatives, such as partnerships & mergers, and acquisitions, to achieve the dominance in the market. Surgery Partners entered into a strategic partnership with UCI Health to develop & expand access to outpatient surgical facilities and enhance the quality of life of patients. This scenario represents press releases or news of the companies categorized into Merger & Acquisition, Agreement, Collaboration, & Partnership, New Product Launch & Enhancement, Investment & Funding, and Award, Recognition, & Expansion. 'Danaher Corporation', 'Dentsply Sirona', '3M ESPE', 'GC Corporation', 'Zimmer Biomet Holdings Inc.', 'Ivoclar Vivadent AG', 'Planmeca Oy', 'Ultradent Products Inc.', 'VOCO GmbH', 'Septodont Holding', 'VITA Zahnfabrik H. Rauter GmbH & Co. KG', 'KaVo Kerr Corporation', 'COLTENE Group', 'DentalEZ Group', 'Shofu Dental Corporation', 'Tokuyama Dental Corporation', 'Kuraray Noritake Dental Inc.', 'BEGO GmbH & Co. KG', 'Henry Schein, Inc.', 'Patterson Companies, Inc.'

Overall satisfaction rates with office-based lab services are at over 97%. 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.

Any technology that improves the safety and efficacy of same-day intervention allows for the expansion of procedures in freestanding facilities. CTO crossing has been a significant market advance. It will cross lower extremity artery long CTOs predictably, effectively, and efficiently. Depending on the plaque composition and lesion characteristics, various devices can be used. Crossing is usually successful with preparatory devices such as specialty wires, crossing catheters, or atherectomy devices. When the other devices are unable to cross, a reliable re-entry device is critical because it can be guided through the subintimal space, around the occlusion, and back to the true lumen. The ability to provide multiple crossing options for the complex CTO environment requiring treatment is critical to intervention success.

In terms of market share and revenue, North America dominates the office-based labs market and will maintain its dominance throughout the forecast period. This is due to the high prevalence of various vascular diseases in this region, which will increase the demand for office-based labs. Because of the increasing burden of vascular and endovascular diseases in the US population, a high preference for treatment in outpatient settings indirectly generates demand for settings such as OBL.