Central Lab Market Scope
To meet the demands of today's drug, device, and diagnostics development environments, a next-generation service provider is required. When looking for a long-term central laboratory solution, it is critical to find a partner who can meet your needs across a wide range of central laboratory services. Pharmaceutical companies are looking for ways to reduce the cost of product development and manufacturing. One of the most common services that these companies outsource is central lab services. Aside from cost savings, the use of central labs speeds up the drug development process. Pharmaceutical and biopharmaceutical companies typically completely outsource their central labs. Many CROs are interested in central lab services because they provide bundled services that allow them to accept a wide range of services.
The Central Lab market study is segmented by Type (Genetic Services, Biomarker Services, Microbiology Services, Anatomic Pathology/Histology, Specimen Management & Storage, Special Chemistry Services and Others), by Application (Pharmaceutical Companies, Biotechnology Companies and Academic and Research Institutes) and major geographies with country level break-up.
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Central Lab market throughout the predicted period.
ACM Global Central Lab (India), Barc Lab (Cerba Research) (Belgium), Bioscientia (Sonic Healthcare) (Germany), Celerion (Switzerland), CIRION BioPharma Research (Canada), Clinical Reference Laboratory (United States), Lab Corp/Covance (India), Eurofins Central Laboratory(Luxembourg), Frontage Laboratories, Inc. (United States) and ICON Central Labs (Ireland) are some of the key players that are part of study coverage.
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a
preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from total available market.
AMA Research has segmented the market of Global Central Lab market by Type, Application and Region.
On the basis of geography, the market of Central Lab has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
- The combination of an aging population and a scarcity of healthcare professionals has created an opportunity for the Central Lab market to expand in these areas.
- Some of the factors influencing the growth of the central lab market include an increase in the number of clinical trials, lower trial costs, and advancements in new therapies and drugs.
- The growing complexity of clinical trials and their environments has resulted in the establishment and expansion of a number of central labs around the world.
- Stringent government regulations
- Lack of affordability in the developing regions
Key Target AudienceNew Entrants/Investors, Analysts and Strategic Business Planners, Central Lab Providers, Raw Material Suppliers, Government Regulatory and Research Organizations and End-Use Industry
Frequently Asked Questions (FAQ):
1. Is it possible to have certain customization in the study?
The Study can be customized to meet your requirements. Please connect with our representative, who will ensure you get a study that suits your business objectives.
2. How big is the Central Lab Market?
Yes, the study does represent market size by key business segment, application/end users and major geographies forecasted till 2026.