Edit
Bizwit-Logo-Final

Bizwit Research & Consulting LLP is a global provider of business intelligence & consulting services. We have a strong primary base of key industry leaders along with the chain of industry analysts to analyze the market trends and its future impact in order to estimates and forecast different business segments and markets. 

Global Central Lab Market to reach USD xxx billion by the end of 2029.

Global Central Lab Market Size study & Forecast, by Services (Biomarker Services, Specimen Management and Storage, Anatomic Pathology and Histology, Genetic Services, Others), by End User (Biotechnology Companies, Pharmaceutical Companies, Others), and Regional Analysis, 2022-2029

Product Code: HLSHIT-80592328
Publish Date: 15-05-2023
Page: 200

Global Central Lab Market is valued at approximately USD xx billion in 2021 and is anticipated to grow with a healthy growth rate of more than x% over the forecast period 2022-2029.
Central Lab is a laboratory where the samples were sent from all the clinical sites. Samples are collected from clinical sites and then it was sent to the central laboratory and then they run all the laboratory tests by standardized methods.
The growth of the Global Central Lab Market is mainly driven by markets that are coming out. There are a lot of unmet healthcare demands, and this will lead to improvements in healthcare facilities and infrastructure. An increase in chronic diseases will lead to an increase in clinical trials which will lead to an increase in samples and thus will lead to growth in Central Lab Market. As per World Health Organization, the number of trials in low-income countries were almost 100 times less than in high-income countries. Moreover, the demand for innovative drugs is growing for diseases which basically gives different ways for treatment. For this kind of innovative product, they need to enter preclinical stages for approval which will become a growth driver for Central Labs. As per the reports published by Congressional Budget Office, the total amount spent by the pharmaceutical industry on R&D is USD 83 billion in 2019. However, the quality of results, accuracy and rapidity are the restraining factors for central labs. The turnaround time is one of the major indicators of the performance of the laboratory. As per reports by the National Institute of Health (NIH), the acceptable turnaround time is 90% completion time<60% for general lab tests. The Covid-19 pandemic has created growth opportunities for central labs because there is more focus on vaccine development and there are a lot of investigations going on for Covid-19 treatment. The samples that have been collected and handled and the logistics related to that should be fast and samples should be handled carefully, this will create an opportunity for central labs to maintain sample stability to get more accurate results. As per the report by Hindustan Times, India has tested more than 10 million samples for Covid-19 in the last 5-6 months and this report has been published in July 2020. Senior citizens in every country are facing a lot of multiple diseases which thus increases the demand for cost-effective products for their treatment and this will lead to the industry’s focus on R&D. As per the National Council of Aging, adults who are 65 and above of age so 80% of them are facing at least one chronic disease and among them, 68% have two or more. Now, as a result, it will create more and more opportunities for clinical trials and thus it will lead to greater demand for central lab services. The key regions considered for the Global Central Lab Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the market in terms of revenue, owing to the reasons such as the increase in clinical trials in the USA and there has been lot of research and development in drugs and the growing chronic diseases also led to an increase in demand for central labs. Asia Pacific is expected to grow with the highest CAGR during the forecast period, owing to the factors such as the growing central lab services, there is also positive government support and the increase in research and development also led to increasing in demand for central labs. As per the statistics by BioSpectrum Asia, there has been a rapid increase in non-communicable diseases and around 55% of deaths are due to non-communicable diseases in Southeast Asia. The increase in these diseases increases the demand for central labs in the Asia Pacific. Major market player included in this report are: Cirion Biopharma Research Inc. ACM Global Laboratories Eurofins Scientific Lambda Therapeutics Research Ltd. A.P. Moller Holding A/S Frontage Laboratories Inc. Interlab Central Lab Services Medicover Integrated Clinical Services Rochester Regional Health Laboratory Corporation of America Holdings Recent Developments in the Market: Ø In June 2021, a wholly owned subsidiary of IQVIA, Q2 Solutions has declared the extension of their clinical laboratory services and extension of their operational functions at Alba Campus in Livingston, Scotland. This will support pharma and biopharma clients globally and will drive finer patient outcomes. Ø In September 2021, a top global clinical research organization, Emmes, combined with its CRO Orphan Reach, declared that they have signed a new agreement for 5 years to increase their relationship with Eurofins Central Laboratory. Ø In June 2022, Labcorp Inc. which is a top global life sciences company declared that they will be extending their drug development operations and central laboratory in Japan through the extension of the CB trial Laboratory which is the Central Lab that is co-managed by a leading Japanese service provider of clinical labs testing services, known BML and Labcorp Drug Development. Global Central Lab Market Report Scope: Historical Data 2019-2020-2021 Base Year for Estimation 2021 Forecast period 2022-2029 Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends Segments Covered Services, End User, Region Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World Customization Scope Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope* The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study. The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below: By Services: Biomarker Services Specimen Management and Storage Anatomic Pathology and Histology Genetic Services Others By End User: Biotechnology Companies Pharmaceutical Companies Others By Region: North America U.S. Canada Europe UK Germany France Spain Italy ROE Asia Pacific China India Japan Australia South Korea RoAPAC Latin America Brazil Mexico Rest of the World

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2019-2029 (USD Billion)
1.2.1. Central Lab Market, by Region, 2019-2029 (USD Billion)
1.2.2. Central Lab Market, by Service, 2019-2029 (USD Billion)
1.2.3. Central Lab Market, by End User, 2019-2029 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Central Lab Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Scope of the Study
2.2.2. Industry Evolution
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Central Lab Market Dynamics
3.1. Central Lab Market Impact Analysis (2019-2029)
3.1.1. Market Drivers
3.1.1.1. Increase in Chronic Diseases
3.1.1.2. Increase in demand for innovative drugs
3.1.2. Market Challenges
3.1.2.1. Turnaround of central labs
3.1.3. Market Opportunities
3.1.3.1. Increase in Covid-19 cases
3.1.3.2. Multiple diseases of senior citizens globally
Chapter 4. Global Central Lab Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Futuristic Approach to Porter’s 5 Force Model (2019-2029)
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.4. Investment Adoption Model
4.5. Analyst Recommendation & Conclusion
4.6. Top investment opportunity
4.7. Top winning strategies
Chapter 5. Risk Assessment: COVID-19 Impact
5.1. Assessment of the overall impact of COVID-19 on the industry
5.2. Pre COVID-19 and post COVID-19 Market scenario
Chapter 6. Global Central Lab Market, by Service
6.1. Market Snapshot
6.2. Global Central Lab Market by Service, Performance – Potential Analysis
6.3. Global Central Lab Market Estimates & Forecasts by Service 2019-2029 (USD Billion)
6.4. Central Lab Market, Sub Segment Analysis
6.4.1. Biomarker Services
6.4.2. Specimen Management and Storage
6.4.3. Anatomic Pathology and Histology
6.4.4. Genetic Services
6.4.5. Others
Chapter 7. Global Central Lab Market, by End User
7.1. Market Snapshot
7.2. Global Central Lab Market by End User, Performance – Potential Analysis
7.3. Global Central Lab Market Estimates & Forecasts by End User 2019-2029 (USD Billion)
7.4. Central Lab Market, Sub Segment Analysis
7.4.1. Biotechnology Companies
7.4.2. Pharmaceutical Companies
7.4.3. Others
Chapter 8. Global Central Lab Market, Regional Analysis
8.1. Central Lab Market, Regional Market Snapshot
8.2. North America Central Lab Market
8.2.1. U.S. Central Lab Market
8.2.1.1. Service breakdown estimates & forecasts, 2019-2029
8.2.1.2. End User breakdown estimates & forecasts, 2019-2029
8.2.2. Canada Central Lab Market
8.3. Europe Central Lab Market Snapshot
8.3.1. U.K. Central Lab Market
8.3.2. Germany Central Lab Market
8.3.3. France Central Lab Market
8.3.4. Spain Central Lab Market
8.3.5. Italy Central Lab Market
8.3.6. Rest of Europe Central Lab Market
8.4. Asia-Pacific Central Lab Market Snapshot
8.4.1. China Central Lab Market
8.4.2. India Central Lab Market
8.4.3. Japan Central Lab Market
8.4.4. Australia Central Lab Market
8.4.5. South Korea Central Lab Market
8.4.6. Rest of Asia Pacific Central Lab Market
8.5. Latin America Central Lab Market Snapshot
8.5.1. Brazil Central Lab Market
8.5.2. Mexico Central Lab Market
8.6. Rest of The World Central Lab Market

Chapter 9. Competitive Intelligence
9.1. Top Market Strategies
9.2. Company Profiles
9.2.1. Cirion Biopharma Research Inc.
9.2.1.1. Key Information
9.2.1.2. Overview
9.2.1.3. Financial (Subject to Data Availability)
9.2.1.4. Product Summary
9.2.1.5. Recent Developments
9.2.2. ACM Global Laboratories
9.2.3. Eurofins Scientific
9.2.4. Lambda Therapeutics Research Ltd.
9.2.5. A.P. Moller Holdings A/S
9.2.6. Frontage Laboratories Inc.
9.2.7. Interlab Central Lab Services
9.2.8. Medicover Integrated Clinical Services
9.2.9. Rochester Regional Health
9.2.10. Laboratory Corporation of America Holdings
Chapter 10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
We are dedicated to clearly communicating the purpose and objectives of each research project in the final deliverables. Our process begins by identifying the specific problem or challenge our client wishes to address, and from there, we establish precise research questions that need to be answered. To gain a comprehensive understanding of the subject matter and identify the most relevant trends and best practices, we conduct an extensive review of existing literature, industry reports, case studies, and pertinent academic research.
Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
After conducting the research, our experts analyze the findings in relation to the research objectives and the specific needs of the client. They generate valuable insights and recommendations that directly address the client’s business challenges. These insights are carefully connected to the research findings to provide a comprehensive understanding.
Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

Need Assistance

Contact Person -
Krishant Mennon
Call us @
+ 91 99931 15879
Email: sales@bizwitresearch.com

Checkout

Why Choose Us?

Quality over Quantity

Backed by 60+ paid data sources our reports deliver crisp insights with no compromise quality.

Analyst Support

24x7 Chat Support plus
free analyst hours with every purchase

Flawless Methodology

Our 360-degree approach of market study, our research methods leave stones unturned.
Enquiry Now