September 19, 2016
HIDA Laboratory Market Pulse™ Shows
Five Consecutive Quarters of Expansion
Alexandria, Va. – Laboratory market demand continued to expand for the fifth consecutive quarter, according to the HIDA Market Pulse™, a test-volume-weighted utilization index. Demand expanded moderately in Q2 2016 with a positive index of 31.1, a 6.0 decrease from Q1 2016 when the index showed more significant expansion. National lab demand growth was driven by test volumes and specimens collected, while test send-outs, test turn-around time and new assays remained flat.
“This quarter closely matches previously observed trends,” said Gina Smith, HIDA’s Director of Business Development. “The laboratory market experienced slower growth in the second quarter of the year, but utilization has been in expansion mode nonetheless.” Smith also noted small and medium-sized hospital labs—representing fewer than 150 beds—experienced overall index decreases, as well as nearly all regions. The two exceptions were the Northeast and Southeast regions, where facilities saw 7-10 point index increases due to growth in test volumes and specimens collected.
HIDA’s laboratory index is derived from a quarterly real-time survey of more than 200 physician office and hospital lab facility directors, identifying crucial factors that affect demand for medical and laboratory products. Positive index readings indicate slight, moderate, or extreme market expansion, while negative readings show contraction. For more information, visit www.HIDA.org/MarketPulse.
Jeff Girardi, 703-838-6110
The Health Industry Distributors Association (HIDA) is the premier trade association representing medical products distribution. HIDA members primarily serve the nation’s hospital, long term care, and physician/alternate care markets. For more information, visit www.HIDA.org.