Central Lab Global Market Report 2022: increase in research and development

Dublin, September 21, 2022 (GLOBE NEWSWIRE) – Central Lab’s “Market Size, Sharing and Trend Analysis Report for Services (Genetic Services, Biomarker Services), for End Use (Pharmaceutical Companies, biotechnology), by region and segment forecasts, 2022-2030 “was added to the report by ResearchAndMarkets.com offer.

According to this report, the size of the global central lab market is expected to reach $ 5.08 billion by 2030. It is estimated that it will record a CAGR of 6.7% during the forecast period, driven by increasing investment in research and development. and the increased attention of sponsors and researchers on reducing research costs. The outsourcing of central laboratory work is a significant factor driving market growth.

Outsourcing of central lab work is an increasing trend in the clinical trial industry, which should create profitable business opportunities for central labs. Investigators and sponsors outsource approximately 80% of central lab work and prefer labs that provide integrated end-to-end services.

Investments in research and development have seen a surge in recent years, which can be attributed to the increased focus on the pharmaceutical industry during the pandemic. As we enter the third year of the pandemic, investments in science have improved the pipeline and numerous clinical trials have been launched. During the pandemic, activity in interventional studies grew steadily. The pharmaceutical industry has developed a new way of conducting trials for the management of ongoing clinical trials during the pandemic.

The pandemic has also created new growth opportunities, with a growing focus on mRNA vaccine development and investigations for different COVID-19 treatment options. However, sample management, supply chain and logistics play a significant role in the sample sent to clinical laboratories. These samples are highly sensitive and require fast logistics with temperature control, thus maintaining sample stability for the most accurate results.

The rise of small and medium-scale central laboratories is intensifying competition globally. The presence of small and medium-scale central laboratories is very important in developing regions such as Asia Pacific. These laboratories are becoming critical in managing clinical trials globally due to the availability of central laboratory services at 20% -35% lower prices than in Europe and the United States.In addition, the lower cost of conducting clinical trials in developing economies development facilitates the selection of the central laboratories present in these regions, to be attributed to the lower logistic costs and the presence in the vicinity of the test site.

Highlights of the Central Lab Market Report

  • Genetic services segment is expected to grow at the fastest growth rate, due to the growing importance of genetic analysis in clinical trials
  • Strategic acquisitions are one of the factors influencing the changing dynamics of the market. For example, actors are acquired by medium and large enterprises to increase their global reach and enter new business segments
  • Pharmaceutical companies held the largest end-use market share, attributable to a growing number of interventional studies and research investments
  • North America dominated the global market in 2021, the growing need for genetic testing in clinical trials related to personalized health care in pathological areas, such as diabetes and cancer
  • Major market players include ACM Global Laboratories, Labconnect, Cerba Research, Eurofins Scientific, Medicover Integrated Clinical Services and Versiti

Key topics covered:


Chapter 1 Methodology and scope

Chapter 2 Executive Summary

Chapter 3 Central Laboratory Market Variables, Trends, and Scope

Chapter 4 Central Laboratory Market Analysis, By Service, 2018-2030 (USD Million)

Chapter 5 Central Laboratory Market Analysis – Segment, By End Use, 2018-2030 (USD Million)

Chapter 6 Regional Business Analysis

Chapter 7 Competitive Analysis

Companies mentioned

  • ACM GLOBAL LABORATORIES
  • LABCONNECT
  • SEARCH CERBA
  • EUROFINS SCIENTIFIC
  • MEDICOVER INTEGRATED CLINICAL SERVICES
  • VERSICE
  • AP MOLLER HOLDING A / S
  • EMERSION AND CAPITAL PARTNERS
  • LAMBDA THERAPEUTICS RESEARCH LTD.
  • CIRION BIOPHARMA RESEARCH INC.

For more information on this report, please visit https://www.researchandmarkets.com/r/d6d3hj

  • Global central laboratory market

        

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