"Designing Growth Strategies is in our DNA"

Central Lab Market Size, Share, and Analysis By Services (Clinical Trial Services, Genetic Services, Pathology Services, Biomarker Analysis, Bioanalytical Services, Biorepository Services, and Others), By End Users (Pharmaceutical & Biotechnology Companies, Academic & Research Institutes, Clinical Laboratories, and Others), and Regional Forecast, 2024-2032

Region :Global | Report ID: FBI107163 | Status : Ongoing

 

KEY MARKET INSIGHTS

The growing demand for new drugs and vaccines across the world due to the emergence of new disease conditions has increased the rate of clinical studies conducted in countries such as the U.S., the U.K., and China. This has led to the adoption of central laboratories for clinical trials and other laboratory assessments.


The major players in the market are willing to outsource central labs to reduce their drug development and manufacturing costs. Also, the increasing number of pharmaceutical and biotechnology companies and the limited presence of local laboratories is driving the need and demand for central laboratories.

The demand for central labs is rising due to various benefits such as reduced time to deliver the results, providing the latest technological solutions, and patient-friendly and faster results. The central laboratory services include pathology services, bioanalytical services, clinical trials to develop new drugs or vaccines, and genetic testing for various diseases such as cancer, and sickle cell disease.


  • For example, Lotus Labs Pvt. Ltd., has developed and validated over 450 bioanalytical methods for major pharmaceutical companies in India and other countries.


Also, the availability of A.I. integrated systems, the presence of skilled professionals and their expertise in handling huge amounts of samples, management of samples, sample storing and tracking are major factors responsible for choosing central labs by pharmaceutical & biotech companies. Recently, major companies have shifted their focus toward home collection services, further driving the market growth.

However, the demand for central laboratories is increasing, and the lack of training for healthcare professionals is restricting the market growth. Also, the various accreditations required for the laboratory to function College of American Pathologists, Centers for Disease Control and Prevention (CDC), and also should meet the requirements of the ministries of health in the different countries, further limiting the market growth.

Impact of COVID-19 on the Central Labs Market


The Covid-19 pandemic has been challenging for the major players in the market as they faced difficulties in transporting the samples to different countries due to the various government guidelines and imposed lockdown. This has resulted in close monitoring of these lab testing processes by stakeholders during the pandemic to provide various alternative options for transporting the samples from one location to another, increasing the overall cost associated.

Apart from this, the pandemic has offered various opportunities for pharmaceutical companies to expand their pipeline portfolio for Covid-19 vaccine preparation. Various pharmaceutical companies collaborated with central laboratories to manufacture and develop Covid-19 vaccines.


  • For example, in October 2021, ACM Global Laboratories involved in a clinical study to develop an inactivated, adjuvanted COVID-19 vaccine by Valneva SE in Europe.


This along with many central labs have started providing PCR test kits and other Covid-19-related diagnostic tests. Also, home-based services have increased during the pandemic to avoid the spread of the virus.

Key Insights


The report will cover the following key insights:


  • Technological Advancements in the Central Lab Market

  • New Product Launches, By Key Players

  • Key Industry Developments- Mergers, Partnerships, & Acquisitions

  • Impact of Covid-19 on the Market


Analysis by Services


Based on services, the market is segmented into clinical trial services, genetic services, pathology services, biomarker analysis, bioanalytical services, biorepository services, and others. The central labs are mostly preferred to conduct clinical research and trials as they are time-consuming and costly. Pharmaceutical companies usually don't have the infrastructure and expertise to conduct clinical studies independently. This has resulted in outsourcing the central labs to conduct various clinical studies to develop and commercialize a new drug or vaccine. Also, the advanced technology offered and results delivered in time with zero errors is resulting in companies selecting central labs for various clinical trial services.


  • In October 2022, ICON plc is selected by U.S. Biomedical Advanced Research and Development Authority (BARDA) to conduct an anthrax vaccine clinical trial. In the past five years, ICON plc has participated in more than 160 vaccine studies.


Regional Analysis


To gain extensive insights into the market, Request for Customization


North America has dominated the central lab market due to the ongoing technological advancements, advanced healthcare infrastructure in the U.S. and Canada, and the increasing number of pharmaceutical companies. Also, the presence of various regulatory bodies and fast approvals of new drugs in the market is further responsible for the market's growth in this region.

Asia Pacific region is anticipated to grow at a faster pace during the forecast period. This is due to the growing popularity of clinical studies conducted in countries such as China and the increasing number of central laboratories in these countries. Also, the low costs of the clinical trial workforce in the Asia Pacific region as compared with other regions is further responsible for the market growth in this region.


  • For example, according to the data published by N.S. Healthcare in 2022, the costs associated with central lab testing can be 25.0% to 35.0% lower in China and other Asia Pacific countries as compared with the U.S., and some European Countries.


Key Players Covered


The report will include the profiles of key players such as Eurofins Scientific, ACM Global Laboratories, LabConnect, Labcorp Drug Development, Q2 Solutions, Medpace, ICON plc, Frontage Labs, MLM Medical Labs, Cerba Research, and others.

Segmentation
















By Services


By End User


By Geography



  • Clinical Trial Services

  • Genetic Services

  • Pathology Services

  • Biomarker Analysis

  • Bioanalytical Services

  • Biorepository Services

  • Others




  • Pharmaceutical & Biotechnology Companies

  • Academic & Research Institutes

  • Clinical Laboratories

  • Others




  • North America (U.S., Canada)



  • Europe (U.K., Germany, France, Spain, Italy, Scandinavia and Rest of Europe)

  • Asia Pacific (Japan, Australia, China, India, South East Asia and Rest of APAC)

  • Latin America (Brazil, Mexico and Rest of LATAM)

  • Middle East & Africa (GCC, South Africa, Rest of MEA)



Key Industry Developments



  • In October 2022, Labcorp Drug Development announced the expansion of its automated clinical trial kit production line in Belgium. This enables the sponsors and investigators to receive specimen collection kits from Labcorp Central Laboratory Services.

  • In February 2022, Cerba Research acquired Viroclinics-DDL, a specialist virology and immunology contract research organization to expand diagnostic solutions for clinical trials.

  • In February 2022, MLM Medical Labs and TruLab, Inc., partnered to offer blockchain-powered sample tracking to enable biotechnology companies to track their samples' location and support clinical trials worldwide.

  • In May 2021, LabConnect and Cryoport, Inc., partnered to provide support for innovative triumvira cell and gene therapy phase I/II clinical trial which is sponsored by Triumvira Immunologics Inc.

  • In May 2020, Frontage Labs developed a 3-in-1 multiplex P.K. assay to evaluate chloroquine, azithromycin, and hydroxy-chloroquine in human plasma to support COVID-19 clinical trials.

  • In June 2018, ACM Global Laboratories developed Smarter Testing for Oncology to deliver a unique service for cancer research clients. Smarter Testing offers more accurate results, and access to scientific experts.





  • Ongoing
  • 2023
  • 2019-2022

Personalize this Research

  • Granular Research on Specified Regions or Segments
  • Companies Profiled based on User Requirement
  • Broader Insights Pertaining to a Specific Segment or Region
  • Breaking Down Competitive Landscape as per Your Requirement
  • Other Specific Requirement on Customization
Request Customization Banner

Healthcare Clients

Fresenius
iqvia
Galemed
Pfizer
Lek

Client Testimonials

“We are quite happy with the methodology you outlined. We really appreciate the time your team has spent on this project, and the efforts of your team to answer our questions.”

- One of the largest & renowned medical research centers based in the U.S. on a report on the U.S. NIPT Market.

“Thanks a million. The report looks great!”

- Feedback from a consultant on a report on the U.S. Beef Market.

“Thanks for the excellent report and the insights regarding the lactose market.”

- Brazil based company specializing in production of protein ingredients.

“I liked the report; would it be possible to send me the PPT version as I want to use a few slides in an internal presentation that I am preparing.”

- Global Digital Services Agency on a report on the Global Luxury Goods Market.

“This report is really well done and we really appreciate it! Again, I may have questions as we dig in deeper. Thanks again for some really good work.”

- U.S.-based biotechnology company focussing on treatment of chronic pain.

“Kudos to your team. Thank you very much for your support and agility to answer our questions.”

- Europe-based provider of solutions to automate data centre operations.

“We appreciate you and your team taking out time to share the report and data file with us, and we are grateful for the flexibility provided to modify the document as per request. This does help us in our business decision making. We would be pleased to work with you again, and hope to continue our business relationship long into the future.”

- India-based manufacturer of industrial and specialty intermediates with a strong global presence.

“I want to first congratulate you on the great work done on the Medical Platforms project. Thank you so much for all your efforts.”

- One of the largest cosmetics company in the world.

“Thank you very much. I really appreciate the work your team has done. I feel very comfortable recommending your services to some of the other startups that I’m working with, and will likely establish a good long partnership with you.”

- U.S. based startup operating in the cultivated meat market.

“We received the below report on the U.S. market from you. We were very satisfied with the report.”

- Global hearing aids manufacturer.

“I just finished my first pass-through of the report. Great work! Thank you!”

- U.S. based solar racking solutions provider.

“Thanks again for the great work on our last partnership. We are ramping up a new project to understand the imaging and imaging service and distribution market in the U.S.”

- World’s leading advisory firm.

“We feel positive about the results. Based on the presented results, we will do strategic review of this new information and might commission a detailed study on some of the modules included in the report after end of the year. Overall we are very satisfied and please pass on the praise to the team. Thank you for the co-operation!”

- Germany based machine construction company.

“Thank you very much for the very good report. I have another requirement on cutting tools, paper crafts and decorative items.”

- Japanese manufacturing company of stationery products.

“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”

- One of the Leading Food Companies in Germany

“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”

- Intuitive Surgical

“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”

- Major Food Company in Japan

“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”

- Ziering Medical

“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”

- Major Manufacturer of Precision Machine Parts in India

“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”

- Hewlett-Packard

“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”

- Global Management Consulting Firm

“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”

- UK-based Start-up in the Medical Devices Sector

“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”

- One of the Largest Companies in the Defence Industry
We use cookies to enhance your experience. By continuing to visit this site you agree to our use of cookies . Privacy.
X