Global Central Lab Market is expected to foresee significant growth. North America to lead the growth!
- Himanshu Patni
- November 21, 2022
- Central Lab Market, Central Lab Market Growth, Central Lab Market Share, Central Lab Market Size, Central Lab Market Trends
- 0 Comments
The use of Central Laboratories (CLs) is very widespread in clinical trials. A central laboratory is an institution that is exclusively responsible for laboratory assessments and provides services from conducting laboratory assessments and compiling lab test reports, to contracting courier services for delivering lab kits and biosamples from/to medical institutions where diagnostics and treatment of patients are performed. The market for central labs is growing on account of the increase in people suffering from and impacted by various ailments, such as cancer and cardiovascular diseases coupled with an increase in the number of trials for the development of various novel pharmaceutical drugs.
The Central Lab Market is expected to grow at a steady rate of around 6% during the forecast period. Furthermore, rapid technological advancement, rising research and development activities among various pharmaceutical & biotechnology companies and a surge in the rapid adoption of technologically-advanced products are also some of the factors contributing to the growth of the central lab market across the globe.
Based on the services, the central lab market is segmented into genetic services, biomarker services, microbiology services, special chemistry services and others. The biomarker services segment accounted for a significant market share in 2020 and it is estimated that it will grow rapidly during the projected timeframe owing to the co-development of diagnostics & drugs and the selection of appropriate assay development platforms that provide new opportunities for the integration of biomarkers in clinical processes.
For a detailed analysis of the Global Central Lab Market browse through – https://univdatos.com/report/central-lab-market/
Based on end-user, the market is fragmented into pharmaceutical companies, biotechnology companies, academic & research institutes and others. The pharmaceutical companies segment grabbed a considerable market share in 2020 and it is estimated that it will grow rapidly during the forecast period. This can be due to the rising demand for novel pharmaceuticals and an increase in the number of clinical trials. Furthermore, as pharmaceutical firms are continually looking for ways to save costs in drug development and manufacturing, the demand for central labs is expected to surge in the future
For a better understanding of the market adoption of the central lab industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. North America is anticipated to grow at a substantial CAGR during the forecast period. The major factors such as well-established healthcare infrastructure, the presence of numerous biopharmaceutical and pharmaceutical companies in the region, a rising focus on drug discovery and rising R&D investments by various pharmaceutical key players. For instance, in 2019, the pharmaceutical industry spent USD 83 billion on R&D. These expenditures covered a wide variety of research activities including drug discovery and development.
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Some of the major players operating in the market include ACM Global Laboratories, Eurofins Scientific, Cerba Research, Cirion Biopharma Research Inc., Versiti, LabConnect, Q² Solutions, Synevo Central Lab, ICON Central Labs, PPD
Global Central Lab Market Segmentation
Market Insight, by Services
- Genetic Services
- Biomarker Services
- Microbiology Services
- Special Chemistry Services
Market Insight, by End-User
- Pharmaceutical Companies
- Biotechnology Companies
- Academic & Research Institutes
Market Insight, by Region
- North America
- Rest of North America
- United Kingdom
- Rest of Europe
- Rest of Asia-Pacific
- Rest of the World
Top Company Profiles
- ACM Global Laboratories
- Eurofins Scientific
- Cerba Research
- Cirion Biopharma Research Inc.
- Q² Solutions
- Synevo Central Lab
- ICON Central Labs