Central Lab Market By Services (Genetic services, Biomarker services, Anatomic pathology and histology, Specimen management and storage, Others), By End user (Pharmaceutical companies, Biotechnology companies, Others): Global Opportunity Analysis and Industry Forecast, 2022-2031
The global central lab market was valued at $3.3 billion in 2021, and is projected to reach $6 billion by 2031, growing at a CAGR of 6% from 2022 to 2031. A central lab is a laboratory/institution responsible for laboratory assessments, providing services from conducting laboratory assessments and compiling lab test reports to contracting courier services for delivering lab kits and bio samples from or to medical institutions. In addition, central labs offer standardized in-house methods of testing for clinical trials, ensuring validity of results and consistency in interpretation throughout the trial.
Furthermore, central labs carry out laboratory tests requested by the sponsor using validated machinery, standardized methods, reference ranges, and trial-specific testing kits. Thus, central labs ensure consistent results, analyses, and are also equipped with modern electronic data storage & transmission facilities.
The major factors driving the growth of the central lab market are increase in number of clinical trials, rise in demand for novel drugs, and various technological advancements enabling central labs to offer wide range of services. The demand for clinical trials has been steadily growing, driven by the need for new drugs, medical devices and treatments to address a wide range of diseases and conditions. Thus, central labs play a vital role in supporting clinical trials, providing essential testing and analysis services to help to evaluate the safety and efficacy of new drugs. In addition, advances in technology have enabled central labs to offer a wider range of services, including the analysis of biomarkers, pharmacokinetics (PK), and pharmacodynamics (PD) testing, and other laboratory tests that are required to evaluate the safety and efficacy of new drugs.
These advances have improved the accuracy and speed of testing services, which has increased demand for central lab services driving the growth of the market. Moreover, biomarker services are a key area of expertise of central lab, as it plays a critical role in supporting biomarker research by providing a range of testing and analysis services to measure biomarkers in various biological matrices. Central labs can develop and validate new biomarker assays, provide specialized sample analysis services, and offer data analysis and consulting services to support drug development and clinical research studies.
Furthermore, increase in number of key players offering such services and rise in launch of new services is expected to drive the growth of market. For instance, in October 2022, Q2 Solutions, (a wholly owned subsidiary of IQVIA) and a leading global clinical trial laboratory services organization, announced the launch of the first self-collection safety lab panel for U.S. clinical trial participants offering combined industry leading laboratory services, patient focused logistics, and cutting-edge, self-collection technology. Thus, such launches by key players of the market are expected to propel the market expansion.
The global central lab market is segmented into services, end user, and region. On the basis of services, the market is divided into genetic services, biomarker services, anatomic pathology and histology, specimen management and storage, and others. On the basis of end user, the market is categorized into pharmaceutical companies, biotechnology companies, and others. Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).
Major key players that operate in the global central lab market are Laboratory Corporation of America, Rochester Regional Health (ACM Global Laboratories), ICON plc, Medpace, IQVIA Inc (Q2 Solutions), Eurofins Scientific, LabConnect, Cerba HealthCare (Cerba Research), Frontage Labs, and CIRION BioPharma Research Inc.
Key Benefits For StakeholdersThis report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the central lab market analysis from 2021 to 2031 to identify the prevailing central lab market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the central lab market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global central lab market trends, key players, market segments, application areas, and market growth strategies.
Key Market SegmentsBy End userPharmaceutical companies
Biotechnology companies
Others
By ServicesGenetic services
Biomarker services
Anatomic pathology and histology
Specimen management and storage
Others
By RegionNorth America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
Japan
China
India
Australia
South Korea
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA
Key Market Players
Eurofins Scientific
ICON Plc
IQVIA Inc.
Frontage Labs
CIRION BioPharma Research Inc.
Rochester Regional Health
LabConnect
Cerba Healthcare
Laboratory Corporation of America Holdings
Medpace
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