Future Growth Forecast For The Central Lab Global Market 2023-2032
The Business Research Company’s global market reports provide comprehensive analysis on the various markets in 27 industries across 60 geographies.
As per The Business Research Company’s Central Lab Global Market Report 2023, The global central lab market is expected to grow from $2.52 billion in 2022 to $2.74 billion in 2023 at a compound annual growth rate (CAGR) of 8.6%. The market size of the global central lab is expected to grow to $3.64 billion in 2027 at a CAGR of 7.3%.
What was the major driver in the central lab market?
Increased clinical trials drive future growth in the central lab market. Clinical trials assess treatment, drug, and device effectiveness. Pharma and biotech firms outsource central labs for testing and development. ClinicalTrials.gov reported 422,646 trials in July 2022, up from 399,523 in 2021, promoting the central lab market.
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What was the key trend in the central lab market?
Tech advancements drive central lab market growth. Major firms focus on innovative solutions. For instance, Instron introduced BluehillCentral Lab management software in December 2021, enabling remote use and centralized data management across multiple test systems, streamlining lab administration.
Which was the largest region in the central lab market?
North America was the largest region in the central lab market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the central lab market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Who are the central lab market prominent players?
Major players in the central lab market are Acm Global Laboratories Private Limited, Cerba Research, Sonic Healthcare Limited, Celerion Inc., Cirion Biopharma Research Inc., Clinical Reference Laboratory Inc., Eurofins Central Laboratory LLC, Frontage Laboratories Inc., Icon Central Labs, Interlab Central Lab Services, InVitro International, Labcorp Drug Development India Private Limited, LabConnect LLC, Medpace Clinical Research India Private Limited, MLM Medical Labs GmbH, Synevo Central Lab, and Q2 Solutions Pty Ltd.
Key central lab market segments
The global central lab market is segmented –
1) By Service Type: Genetic Services, Biomarker Services, Microbiology Services, Anatomic Pathology or Histology, Specimen Management And Storage, Special Chemistry Services, Other Service Types
2) By Test Type: Human And Tumor Genetics, Clinical Chemistry, Medical Microbiology And Cytology, Other Esoteric Tests
3) By End-User: Pharmaceutical Companies, Academic And Research Institutes, Biotechnology Companies
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