Medical Laboratories Revenue Benchmarks
The average medical laboratories business in the United States generates $7.7M in annual revenue, according to the U.S. Census Bureau Statistics of U.S. Businesses (SUSB 2021). There are 4,184 medical laboratories businesses in the U.S., employing 223,251 workers with an average profit margin of 13.0%. The average employee in this industry earns $79K per year (Bureau of Labor Statistics QCEW 2023).
What Does a Medical Laboratories Business Actually Do?
Clinical labs running blood work, pathology, molecular diagnostics. Include Quest, LabCorp, hospital-owned, and DTC labs (Everlywell, LetsGetChecked).
Who buys: Physicians ordering tests, hospitals, direct-to-consumer patients.
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
How Much Do Medical Laboratories Charge?
Clinical labs charge per test, with wide variance by complexity.
| Service | Typical range |
|---|---|
Basic metabolic panel | $15–40 |
Comprehensive metabolic panel | $25–75 |
Lipid panel | $20–75 |
Genetic testing | $150–5,000+ |
Direct-to-consumer test (cash-pay) | $50–500 |
Ranges based on industry rate surveys and typical published pricing. Actual quotes vary by city, business size, and job complexity.
Complete medical laboratories business plan
A 12-section data-backed business plan for a medical laboratories business — executive summary, market analysis, competitive landscape, revenue model, 3-year financial projections, operations, marketing, staffing, funding request. Pre-populated with real Census, IRS, and BLS data on this industry. Free to view.
Cost Structure — Where Every $100 in Revenue Goes
Approximate P&L breakdown for the medical laboratories industry. Labor share and net profit are grounded in Census SUSB and IRS SOI data. Other lines are split using sector-typical ratios.
| Category | Per $100 revenue | Per typical business | What's in it |
|---|---|---|---|
Medical supplies & pharma | $13 | $1.0M | Disposables, medications, lab reagents, implants, and other direct patient supplies. |
Wages & benefits | $50 | $3.9M | Payroll for all employees at the business (owner comp not included for small owner-operators). |
Rent & facilities | $6 | $429K | Rent or mortgage on business location plus utilities tied to the space. |
Marketing & advertising | $2 | $143K | Google/Meta ads, SEO, print, referral fees, event sponsorships. |
Other operating costs | $17 | $1.3M | Malpractice insurance, billing services, equipment leasing, regulatory compliance. |
Net profit | $13 | $1.0M | What remains for the owner or shareholders after all business expenses. |
Directionally accurate for a typical business in the industry. Individual businesses vary widely — a franchise may run a very different cost mix from an independent, and older established businesses often have lower labor share than newer ones.
Average Revenue by Business Size
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
Should You Start a Medical Laboratories Business?
Startup Cost
$75K – $300K
Break-Even
2 months
5-Year Survival Rate
70.0%
Related Industries
Frequently Asked Questions
- What does a medical laboratories business do?
- Clinical labs running blood work, pathology, molecular diagnostics. Include Quest, LabCorp, hospital-owned, and DTC labs (Everlywell, LetsGetChecked). Physicians ordering tests, hospitals, direct-to-consumer patients.
- How much do medical laboratories charge?
- Clinical labs charge per test, with wide variance by complexity. See the pricing table above for typical rates by service type.
- How much does the average medical laboratories make per year?
- The average medical laboratories business generates $7.7M in annual revenue, based on U.S. Census Bureau data (SUSB 2021). After expenses, the estimated owner profit is $1.0M per year at a 13.0% profit margin.
- How many medical laboratories businesses are there in the US?
- There are 4,184 medical laboratories businesses operating in the United States, employing a total of 223,251 workers.
- How much does it cost to start a medical laboratories business?
- Startup costs for a medical laboratories business typically range from $75K to $300K, with a 5-year survival rate of 70.0%.
- What is the average salary in the medical laboratories industry?
- The average employee in the medical laboratories industry earns $79K per year, according to Bureau of Labor Statistics data (QCEW 2023).
Industry Growth & Survival
The medical laboratories industry is contracting — losing jobs at a net rate of 4.0% per year. More establishments are closing (10.0%) than opening (28.3%), suggesting market challenges.
Approximately 59% of medical laboratories businesses survive their first 5 years. This is near the national average (~50%), with typical business risk. In 2023, 822 firms in this industry closed permanently.
Employment & Wages
The average employee in the medical laboratories industry earns $79,042/year. This is significantly above the national average of ~$65K, reflecting the skilled nature of this work. With 22,483 establishments employing 231,384 people, the typical business has about 10 employees.
Industry Trend (2000–2023)
The medical laboratories industry has grown 45% since 2000 (from 5,466 to 7,899 firms).
See full historical statistics →Compare Medical Laboratories revenue with other industries: