Robust Times for Diagnostic Companies

The diagnostic industry's buoyant health was evident at this year's American Association for Clinical Chemistry meeting in Los Angeles. Floor space was sold out and attendance hit a record. In contrast to a malaise in the industry through much of the 1990s, diagnostics now have reimbursement, demographic, and labor shortage trends in their favor. At $24.9 billion in revenues, experts say the industry is poised to deliver another year of double-digit growth, following an 11% gain in 2003.

The diagnostics industry's buoyant health was evident at this year's American Association for Clinical Chemistry (AACC) meeting in Los Angeles in July. Floor space sold out, the booths were bustling, and a record number of attendees—more than 18,000—registered to visit. The industry, in contrast to its malaise through much of the 1990s, has reimbursement, demographic, and labor shortage trends in its favor.

At $24.9 billion in revenues, the industry is projected to deliver another year of double-digit growth, following an 11% gain (in actual dollars) in 2003, according to Boston Biomedical Consultants...

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