Global Central Lab Market Size study & Forecast, by Services (Biomarker Services, Specimen Management and Storage, Anatomic Pathology and Histology, Genetic Services, Others), by End User (Biotechnology Companies, Pharmaceutical Companies, Others), and Re

Global Central Lab Market Size study & Forecast, by Services (Biomarker Services, Specimen Management and Storage, Anatomic Pathology and Histology, Genetic Services, Others), by End User (Biotechnology Companies, Pharmaceutical Companies, Others), and Regional Analysis, 2022-2029

Global Central Lab Market is valued at approximately USD xx billion in 2021 and is anticipated to grow with a healthy growth rate of more than x% over the forecast period 2022-2029.
Central Lab is a laboratory where the samples were sent from all the clinical sites. Samples are collected from clinical sites and then it was sent to the central laboratory and then they run all the laboratory tests by standardized methods.
The growth of the Global Central Lab Market is mainly driven by markets that are coming out. There are a lot of unmet healthcare demands, and this will lead to improvements in healthcare facilities and infrastructure. An increase in chronic diseases will lead to an increase in clinical trials which will lead to an increase in samples and thus will lead to growth in Central Lab Market. As per World Health Organization, the number of trials in low-income countries were almost 100 times less than in high-income countries. Moreover, the demand for innovative drugs is growing for diseases which basically gives different ways for treatment. For this kind of innovative product, they need to enter preclinical stages for approval which will become a growth driver for Central Labs. As per the reports published by Congressional Budget Office, the total amount spent by the pharmaceutical industry on R&D is USD 83 billion in 2019. However, the quality of results, accuracy and rapidity are the restraining factors for central labs. The turnaround time is one of the major indicators of the performance of the laboratory. As per reports by the National Institute of Health (NIH), the acceptable turnaround time is 90% completion time<60% for general lab tests.
The Covid-19 pandemic has created growth opportunities for central labs because there is more focus on vaccine development and there are a lot of investigations going on for Covid-19 treatment. The samples that have been collected and handled and the logistics related to that should be fast and samples should be handled carefully, this will create an opportunity for central labs to maintain sample stability to get more accurate results. As per the report by Hindustan Times, India has tested more than 10 million samples for Covid-19 in the last 5-6 months and this report has been published in July 2020. Senior citizens in every country are facing a lot of multiple diseases which thus increases the demand for cost-effective products for their treatment and this will lead to the industry’s focus on R&D. As per the National Council of Aging, adults who are 65 and above of age so 80% of them are facing at least one chronic disease and among them, 68% have two or more. Now, as a result, it will create more and more opportunities for clinical trials and thus it will lead to greater demand for central lab services.

The key regions considered for the Global Central Lab Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the market in terms of revenue, owing to the reasons such as the increase in clinical trials in the USA and there has been lot of research and development in drugs and the growing chronic diseases also led to an increase in demand for central labs. Asia Pacific is expected to grow with the highest CAGR during the forecast period, owing to the factors such as the growing central lab services, there is also positive government support and the increase in research and development also led to increasing in demand for central labs. As per the statistics by BioSpectrum Asia, there has been a rapid increase in non-communicable diseases and around 55% of deaths are due to non-communicable diseases in Southeast Asia. The increase in these diseases increases the demand for central labs in the Asia Pacific.

Major market player included in this report are:
Cirion Biopharma Research Inc.
ACM Global Laboratories
Eurofins Scientific
Lambda Therapeutics Research Ltd.
A.P. Moller Holding A/S
Frontage Laboratories Inc.
Interlab Central Lab Services
Medicover Integrated Clinical Services
Rochester Regional Health
Laboratory Corporation of America Holdings



Recent Developments in the Market:
In June 2021, a wholly owned subsidiary of IQVIA, Q2 Solutions has declared the extension of their clinical laboratory services and extension of their operational functions at Alba Campus in Livingston, Scotland. This will support pharma and biopharma clients globally and will drive finer patient outcomes.
In September 2021, a top global clinical research organization, Emmes, combined with its CRO Orphan Reach, declared that they have signed a new agreement for 5 years to increase their relationship with Eurofins Central Laboratory.
In June 2022, Labcorp Inc. which is a top global life sciences company declared that they will be extending their drug development operations and central laboratory in Japan through the extension of the CB trial Laboratory which is the Central Lab that is co-managed by a leading Japanese service provider of clinical labs testing services, known BML and Labcorp Drug Development.


Global Central Lab Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Services, End User, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World


The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:


By Services:
Biomarker Services
Specimen Management and Storage
Anatomic Pathology and Histology
Genetic Services
Others

By End User:
Biotechnology Companies
Pharmaceutical Companies
Others

By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Companies Mentioned

Cirion Biopharma Research Inc.
ACM Global Laboratories
Eurofins Scientific
Lambda Therapeutics Research Ltd.
A.P. Moller Holding A/S
Frontage Laboratories Inc.
Interlab Central Lab Services
Medicover Integrated Clinical Services
Rochester Regional Health
Laboratory Corporation of America Holdings

Please note:The single user license is non-downloadable and non-printable. Global Site license allows these actions.