The turnover of the medical test laboratories in Romania has soared five-fold over the past ten years and is expected to reach RON 2.5 billion (EUR 520 million) this year, against the background of population aging, occupational diseases and viruses that are becoming more harmful, shows an analysis carried out by the consulting company Frames.

The private health insurances becoming increasingly popular as part of the compensation packages and the surge in household incomes have probably contributed to the growth as well.

The market reached RON 2.06 bln (EUR 430 mln) in 2018 according to actual data, while Frames estimates a RON 250 mln advance in 2019 followed by a similar one in 2020. The implicit growth rates estimated by the consulting company are therefore in the double digit area for both years (2019-2020).

The analysis identifies certain room for further consolidation in the market, although the large players already hold strong positions.

"Beyond the seven large players, which have nationwide networks, the medical analysis services are largely provided by independent laboratories (3,788 micro-enterprises), a sign that the market is still fragmented and there is potential for acquisitions and expansion, especially since the business risk is low,” said Frames manager Adrian Negrescu.

Much of the business with medical tests in Romania is controlled by large companies, with Synevo Romania in the forefront. The company, which is part of Swedish group Medicover, recorded a turnover of RON 257 mln (EUR 54 mln) in 2018. Gral Medical, with RON 125.4 mln, and Hiperdia, with RON 110 mln, are also in the top three.

However, the ranking doesn’t include the large private healthcare providers such as MedLife and Regina Maria, which have inhouse test labs.

editor@romania-insider.com

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