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).

Office interventional suites are also known as office-based labs. The motive behind opening office interventional suites is to offer a delivery-care model, which is patient-centred in an office-based setting. This office-based labs are operated by interventional radiologists, vascular surgeons, and other physicians. Factors fostering market growth across the globe are increasing incidences of target diseases, growing preference for minimally invasive procedures, and rising expenditure on healthcare activities.

Rising incidence of various vascular diseases, as well as the growing trend of surgical procedures being performed in outpatient settings, are among the major factors driving demand for office-based labs (OBL) in the United States. Furthermore, the market is expected to grow due to high patient satisfaction and a focused and dedicated team of doctors. The prevalence of vascular diseases in the United States is rising. According to a June 2021 AHA article, the prevalence of Peripheral Arterial Disease (PAD) was 7%, affecting approximately 8.5 million adults in the United States.

US Office-based Labs Market  is poised to grow at a sustainable CAGR for the next forecast year.