Central Laboratory Market Size, Share and Trend Analysis Report by Services, by End Use, by Region and Segment Forecasts, 2022

The global market for pre-terminated systems grew to USD 5,213.08 million by 2027, at a CAGR of 10.83%.

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Central Laboratory Market Size, Share and Trend Analysis Report by Services (Genetic Services, Biomarker Services), by End Use (Pharmaceutical Companies, Biotech Companies), by Region and Segment Forecasts, 2022 – 2030

New York, September 13, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Central Laboratory Market Size, Share, and Trend Analysis Report by Services, by End Use, by Region, and Segment Forecasts , 2022 – 2030” – https://www.reportlinker.com/p06318453/?utm_source=GNW

Central Laboratory Market Growth and Trends

The global central laboratory market size is expected to reach USD 5.08 billion by 2030. It is estimated to register a CAGR of 6.7% during the forecast period, driven by the increasing investment in R&D and the increased focus of sponsors and researchers in reducing research costs. Outsourcing of central laboratory work is an important factor driving the growth of the market.

Outsourcing of central laboratory work is a growing trend in the clinical trials industry, which is expected to create lucrative business opportunities for central laboratories. Researchers and sponsors outsource ~80% of core lab work, preferring labs that provide integrated end-to-end services.

R&D investment has seen an increase in recent years, which can be attributed to the increased focus on the pharmaceutical industry during the pandemic. Entering the third year of the pandemic, investment in science has improved the portfolio and several clinical trials have been carried out. initiated.

During the pandemic, activity in intervention studies grew steadily. The pharmaceutical industry developed a new way of conducting trials to manage ongoing clinical trials during the pandemic.

The pandemic has also created new opportunities for growth, with an increasing focus on mRNA vaccine development and investigations for various COVID-19 treatment options. However, sample handling, supply chain, and logistics play an important role in the sample sent to clinical laboratories.

These samples are very sensitive and require rapid logistics with temperature control, thus maintaining sample stability for the most accurate results.

The emergence of small and medium-scale central laboratories is intensifying global competition. The presence of small and medium scale central laboratories is very prominent in developing regions such as Asia Pacific.

These laboratories are becoming essential in the management of clinical trials globally due to the availability of central laboratory services at prices that are 20% to 35% lower, compared to Europe and the US. In addition, the lower The cost of conducting clinical trials in developing economies facilitates the selection of central laboratories present in these regions, which can be attributed to lower logistical costs and presence close to the trial location.

Central Lab Market Report Highlights
• The genetic services segment is anticipated to grow at the fastest growth rate, due to the increasing importance of genetic testing in clinical trials.
• Strategic acquisitions are one of the factors influencing changing market dynamics. For example, medium and large companies acquire players to improve their global reach and enter new business segments.
• Pharmaceutical companies had the largest market share by end use, attributable to an increasing number of intervention studies and investment in research.
• North America dominated the global market in 2021, the growing need for genetic testing in clinical trials related to personalized health care in disease areas, such as diabetes and cancer
• Major market players include ACM Global Laboratories, Labconnect, Cerba Research, Eurofins Scientific, Medicover Integrated Clinical Services and Versiti
Read the full report: https://www.reportlinker.com/p06318453/?utm_source=GNW

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