Medical Laboratories Revenue Benchmarks

How much does the average medical laboratories business make? Here are revenue benchmarks based on Census Bureau data.

Average Revenue

$7.7M

per year

💰

Profit Margin

13.0%

industry average

📈

Revenue / Employee

$145K

per year

👤

Total Businesses

4,184

in the US

🏢

Est. Owner Income

$1.0M

small business avg

💵

Labor Cost

50.0%

of revenue

👥

Avg Employee Wage

$79K

per year (BLS)

💼

Market Saturation

1.3

firms per 100K people

🎯

💰 Average Revenue by Business Size

1-4 employees
$360K
5-9 employees
$1.1M
10-19 employees
$2.1M
20-99 employees
$6.1M
100-499 employees
$18.8M
500+ employees
$110.4M

🏆 Highest Revenue States

1.Wisconsin$34.8M avg2.Hawaii$28.0M avg3.Connecticut$18.5M avg4.North Carolina$15.4M avg5.New Jersey$12.0M avg6.Maine$11.5M avg7.New Mexico$11.3M avg8.North Dakota$10.2M avg9.Kansas$10.1M avg10.Pennsylvania$10.0M avg

📊 Industry Dynamics (Census BDS 2023)

New Business Rate

28.27%

openings/year

Closure Rate

9.95%

closings/year

Net Job Growth

-3.98%

annual

Businesses Closed

822

in 2023

Firm Count Trend

19
20
21
22
23
6,476 firms7,899 firms

💡 Should You Start a Medical Laboratories Business?

Startup Cost

$75K – $300K

Break-Even

2 months

5-Year Survival Rate

70.0%

🆚 Related Industries

Offices of Physicians (except Mental Health Specialists)$3.7MOffices of Dentists$915KChild Day Care Services$750KOffices of Chiropractors$280KOffices of Mental Health Practitioners (except Physicians)$443K

Compare Medical Laboratories revenue with other industries:

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