The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s central lab market report forecasts the central lab market size to grow to $3.64 Billion by 2027, with a CAGR (compound annual growth rate) of more than 7%.

Learn More On The Central Lab Market Report 2023 – https://www.thebusinessresearchcompany.com/report/central-lab-global-market-report

Central Lab Market Size Forecast
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 Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The central lab market size is expected to grow to $3.64 billion in 2027 at a CAGR of 7.3%.

North America held the largest central lab market share, and Asia-Pacific was the fastest-growing region in 2022.

Key Central Lab Market Driver ­– Rise In The Number Of Clinical Trials
For instance, according to ClinicalTrials.gov, a registry of clinical trials by the National Library of Medicine and a US-based medical library operated by the US federal government, as of July 2022, 422,646 clinical trials were listed as compared to 399,523 in 2021. Therefore, the rise in the number of clinical trials will promote the central lab market.

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Key Central Lab Market Trend – Technological Advancement
Major companies operating in the central lab sector are focused on developing new technological solutions to strengthen their position in the market. For example, in December 2021, Instron, a US-based manufacturer of a wide range of cutting-edge materials testing equipment, introduced BluehillCentral Lab management software that allows lab administrators to remotely use Bluehill Central Lab regardless of the quantity or location of test systems. The new Bluehill Central software streamlines the lab administration procedure by managing Instron systems and data at the enterprise level using a single database. With this platform, lab administrators can remotely manage a variety of operations across all the frames on their network, including all Bluehill Universal users and permissions, test method templates, results, file revision approvals, and audit trail information.

Central Lab Market Segment
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

Central Lab Market Major Players and Strategies
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.

In December 2021, Thermo Fisher Scientific, a US-based supplier of scientific instrumentation, reagents and consumables, and software services, acquired PPD Inc. for $17.4 billion. The acquisition is expected to strengthen Thermo Fisher’s capabilities and help it become an industry leader in clinical research services. PPD, Inc. (Pharmaceutical Product Development), is a US-based contract research organization providing comprehensive, integrated drug development, laboratory, and lifecycle management services.

The Central Lab Global Market Report 2023 covers regional data on central lab market size, central lab market trends and drivers, opportunities, strategies, and central lab market competitor analysis. The countries covered in the central lab market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Central lab is a lab that provides bundled services where all of the samples from the trial’s clinical locations are submitted. This ensures that the results and analysis are consistent.

View More Reports Related To The Central Lab Market –
Medical And Diagnostic Laboratory Services Global Market Report 2023
Laboratory Automation Systems Global Market Report 2023
Lancing Devices And Equipment Global Market Report 2023

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