Central Lab Global Market Report 2024

Description

“Central Lab Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on central lab market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase

Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
Measure the impact of high global inflation on market growth.
Create regional and country strategies on the basis of local data and analysis.
Identify growth segments for investment.
Outperform competitors using forecast data and the drivers and trends shaping the market.
Understand customers based on the latest market shares.
Benchmark performance against key competitors.
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Report will be updated with the latest data and delivered to you within 3-5 working days of order along with an Excel data sheet for easy data extraction and analysis.
All data from the report will also be delivered in an excel dashboard format.

Where is the largest and fastest growing market for central lab? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The central lab market global report ” from The Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

Scope

Markets Covered:

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
Companies Mentioned: Celerion Inc.; Cerba Research; Cirion Biopharma Research Inc.; Clinical Reference Laboratory Inc.; Eurofins Central Laboratory LLC
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

A central lab is a facility that offers comprehensive services, consolidating all samples from various clinical locations involved in a trial. This centralized approach ensures uniformity in results and analyses.

The primary services provided by central labs encompass genetic services, biomarker services, microbiology services, anatomic pathology and histology, specimen management and storage, special chemistry services, among others. Genetic services involve identifying and counseling individuals at risk of genetic abnormalities. Test types within this category include human and tumor genetics, clinical chemistry, medical microbiology and cytology, as well as other esoteric tests. These services cater to diverse end-users, including pharmaceutical companies, academic and research institutes, and biotechnology companies.

The central lab market research report is one of a series of new reports from The Business Research Company that provides central lab market statistics, including central lab industry global market size, regional shares, competitors with a central lab market share, detailed central lab market segments, market trends and opportunities, and any further data you may need to thrive in the central lab industry. This central lab market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The central lab market size has grown strongly in recent years. It will grow from $2.8 billion in 2023 to $3.04 billion in 2024 at a compound annual growth rate (CAGR) of 8.6%. The expansion observed in the historical period can be ascribed to heightened growth in clinical trials, increased activities in drug development, adherence to regulatory compliance, a surge in healthcare research, and growth in diagnostic testing.

The central lab market size is expected to see strong growth in the next few years. It will grow to $4.15 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%. The anticipated growth in the forecast period can be attributed to the rising prominence of personalized healthcare, a growing focus on biomarker research, an increasing demand for telemedicine and remote monitoring, global health challenges prompting advancements, and a surging demand for precision diagnostics. Key trends expected in the forecast period encompass technological advancements, the introduction of innovative solutions, and strategic collaborations in the healthcare sector.

The anticipated increase in clinical trials is poised to drive growth in the central lab market. Clinical trials, crucial for assessing the safety and efficacy of new treatments and medical devices, prompt pharmaceutical and biotechnology companies to outsource central labs for testing and development. As of July 2022, ClinicalTrials.gov reported 422,646 clinical trials, up from 399,523 in 2021, indicating a surge in trial activities. This upward trend in clinical trials is expected to positively impact the central lab market.

The surge in chronic diseases is forecasted to contribute to the expansion of the central lab market. Chronic diseases, persistent conditions that can be managed but not cured, lead to a substantial patient pool requiring continuous testing and monitoring. In January 2022, research from the American Cancer Society revealed projections of 609,360 cancer deaths and 1.9 million new cases in the US for 2022. The prevalence of chronic diseases, exemplified by these statistics, propels the demand for central lab services, thereby fostering market growth.

Technological advancements emerge as a prominent trend in the central lab market. Key industry players prioritize the development of innovative technological solutions to enhance their market positioning. For instance, in December 2021, Instron, a leading US-based manufacturer of cutting-edge materials testing equipment, introduced the BluehillCentral Lab management software. This software enables remote administration of Bluehill Central Lab, streamlining lab procedures by managing systems and data at the enterprise level through a unified database. Notably, this platform facilitates remote oversight of various operations, including user permissions, test methods, results, file revisions, and audit trail information, across a network of frames. This emphasis on technological advancement contributes to the ongoing evolution and competitiveness of the central lab market.

Major players in the central lab market are strategically introducing new products, such as self-service advanced analytics solutions, to expand their customer base, drive sales, and boost revenue. Self-service advanced analytics solutions are software or platforms that enable users, even those without extensive expertise in data analytics, to independently access and analyze complex data sets, generating advanced insights and predictions. An illustration of this trend is LabVantage Solutions Inc., a US-based laboratory information management system (LIMS) provider, which launched LabVantage Analytics in March 2021. This comprehensive self-service advanced analytics platform empowers users to seamlessly explore, analyze, and visually represent LIMS, enterprise, and external data, facilitating actionable business insights. LabVantage Analytics uniquely enables collaborative data management for laboratory managers and their associates, both within and outside the lab, integrating LIMS data with relevant business and external data. The system streamlines data processing, storage, analysis, and visualization into a unified application, conducting analyses on diverse structured and unstructured data sources. With user-friendly features like dashboards and customizable reports, LabVantage Analytics provides swift access to specific information, seamlessly integrated with the LabVantage LIMS solution and compatible with data from various sources, including other LIMS platforms.

In a significant development, Thermo Fisher Scientific, a prominent US-based supplier of scientific instrumentation, reagents, consumables, and software services, completed the acquisition of PPD Inc. in December 2021 for $17.4 billion. This strategic move is expected to enhance Thermo Fisher's capabilities, positioning it as a leading player in clinical research services. PPD Inc., also based in the US, is a contract research organization specializing in comprehensive drug development, laboratory, and lifecycle management services. The acquisition reinforces Thermo Fisher Scientific's industry standing and underscores its commitment to strengthening its presence in the clinical research services sector.

Major companies operating in the central lab market include Celerion Inc., Cerba Research, Cirion Biopharma Research Inc., Clinical Reference Laboratory Inc., Eurofins Central Laboratory LLC, Frontage Laboratories Inc., Icon Central Labs, Interlab Central Lab Services, InVitro International, LabConnect LLC, Labcorp Drug Development India Private Limited, Medpace Clinical Research India Private Limited, MLM Medical Labs GmbH, Q2 Solutions Pty Ltd., Sonic Healthcare Limited, Synevo Central Lab, Acm Global Laboratories Private Limited, ACM Global Laboratories, Altasciences, Barc Lab, BioIVT LLC, ICON PLC, Intertek, LabNow LLC, Medidata Solutions, NAMSA LLC, Neoteryx, Northwell Health Labs, PAREXEL International, Pharm-Olam LLC, Pharmaceutical Product Development, PRA Health Sciences, Quest Diagnostics, IQVIA Co., Rho Inc.

North America was the largest region in the central lab market in 2023. 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.

The countries covered in the central lab market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The central lab market includes revenues earned by entities by providing services such as specimen management, kit and logistics, and clinical trial data analytics services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Product Code: r9446

1. Executive Summary

2. Central Lab Market Characteristics

3. Central Lab Market Trends And Strategies

4. Central Lab Market - Macro Economic Scenario

4.1. Impact Of High Inflation On The Market
4.2. Ukraine-Russia War Impact On The Market
4.3. COVID-19 Impact On The Market

5. Global Central Lab Market Size and Growth

5.1. Global Central Lab Market Drivers and Restraints
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints Of The Market
5.2. Global Central Lab Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Central Lab Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. Central Lab Market Segmentation

6.1. Global Central Lab Market, Segmentation By Service Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Genetic Services
Biomarker Services
Microbiology Services
Anatomic Pathology or Histology
Specimen Management And Storage
Special Chemistry Services
Other Service Types
6.2. Global Central Lab Market, Segmentation By Test Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Human And Tumor Genetics
Clinical Chemistry
Medical Microbiology And Cytology
Other Esoteric Tests
6.3. Global Central Lab Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Pharmaceutical Companies
Academic And Research Institutes
Biotechnology Companies

7. Central Lab Market Regional And Country Analysis

7.1. Global Central Lab Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Central Lab Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific Central Lab Market

8.1. Asia-Pacific Central Lab Market Overview
Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Central Lab Market, Segmentation By Service Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific Central Lab Market, Segmentation By Test Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.4. Asia-Pacific Central Lab Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China Central Lab Market

9.1. China Central Lab Market Overview
9.2. China Central Lab Market, Segmentation By Service Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China Central Lab Market, Segmentation By Test Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.4. China Central Lab Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India Central Lab Market

10.1. India Central Lab Market, Segmentation By Service Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India Central Lab Market, Segmentation By Test Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India Central Lab Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan Central Lab Market

11.1. Japan Central Lab Market, Segmentation By Service Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.2. Japan Central Lab Market, Segmentation By Test Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan Central Lab Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia Central Lab Market

12.1. Australia Central Lab Market, Segmentation By Service Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia Central Lab Market, Segmentation By Test Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia Central Lab Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia Central Lab Market

13.1. Indonesia Central Lab Market, Segmentation By Service Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia Central Lab Market, Segmentation By Test Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia Central Lab Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea Central Lab Market

14.1. South Korea Central Lab Market, Segmentation By Service Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.2. South Korea Central Lab Market, Segmentation By Test Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea Central Lab Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe Central Lab Market

15.1. Western Europe Central Lab Market Overview
15.2. Western Europe Central Lab Market, Segmentation By Service Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe Central Lab Market, Segmentation By Test Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.4. Western Europe Central Lab Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK Central Lab Market

16.1. UK Central Lab Market, Segmentation By Service Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK Central Lab Market, Segmentation By Test Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK Central Lab Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany Central Lab Market

17.1. Germany Central Lab Market, Segmentation By Service Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany Central Lab Market, Segmentation By Test Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany Central Lab Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France Central Lab Market

18.5. France Central Lab Market, Segmentation By Service Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.6. France Central Lab Market, Segmentation By Test Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.7. France Central Lab Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy Central Lab Market

19.9. Italy Central Lab Market, Segmentation By Service Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.10. Italy Central Lab Market, Segmentation By Test Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.11. Italy Central Lab Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain Central Lab Market

20.13. Spain Central Lab Market, Segmentation By Service Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.14. Spain Central Lab Market, Segmentation By Test Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.15. Spain Central Lab Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe Central Lab Market

21.1. Eastern Europe Central Lab Market Overview
21.2. Eastern Europe Central Lab Market, Segmentation By Service Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe Central Lab Market, Segmentation By Test Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.4. Eastern Europe Central Lab Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia Central Lab Market

22.1. Russia Central Lab Market, Segmentation By Service Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia Central Lab Market, Segmentation By Test Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia Central Lab Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America Central Lab Market

23.1. North America Central Lab Market Overview
23.2. North America Central Lab Market, Segmentation By Service Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America Central Lab Market, Segmentation By Test Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.4. North America Central Lab Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA Central Lab Market

24.1. USA Central Lab Market Overview
24.2. USA Central Lab Market, Segmentation By Service Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA Central Lab Market, Segmentation By Test Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.4. USA Central Lab Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada Central Lab Market

25.1. Canada Central Lab Market Overview
25.2. Canada Central Lab Market, Segmentation By Service Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada Central Lab Market, Segmentation By Test Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.4. Canada Central Lab Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America Central Lab Market

26.1. South America Central Lab Market Overview
26.2. South America Central Lab Market, Segmentation By Service Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America Central Lab Market, Segmentation By Test Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.4. South America Central Lab Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil Central Lab Market

27.1. Brazil Central Lab Market, Segmentation By Service Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil Central Lab Market, Segmentation By Test Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil Central Lab Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East Central Lab Market

28.1. Middle East Central Lab Market Overview
28.2. Middle East Central Lab Market, Segmentation By Service Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East Central Lab Market, Segmentation By Test Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.4. Middle East Central Lab Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa Central Lab Market

29.1. Africa Central Lab Market Overview
29.2. Africa Central Lab Market, Segmentation By Service Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa Central Lab Market, Segmentation By Test Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.4. Africa Central Lab Market, Segmentation By End-User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. Central Lab Market Competitive Landscape And Company Profiles

30.1. Central Lab Market Competitive Landscape
30.2. Central Lab Market Company Profiles
- 30.2.1. Celerion Inc.
  - 30.2.1.1. Overview
  - 30.2.1.2. Products and Services
  - 30.2.1.3. Strategy
  - 30.2.1.4. Financial Performance
- 30.2.2. Cerba Research
  - 30.2.2.1. Overview
  - 30.2.2.2. Products and Services
  - 30.2.2.3. Strategy
  - 30.2.2.4. Financial Performance
- 30.2.3. Cirion Biopharma Research Inc.
  - 30.2.3.1. Overview
  - 30.2.3.2. Products and Services
  - 30.2.3.3. Strategy
  - 30.2.3.4. Financial Performance
- 30.2.4. Clinical Reference Laboratory Inc.
  - 30.2.4.1. Overview
  - 30.2.4.2. Products and Services
  - 30.2.4.3. Strategy
  - 30.2.4.4. Financial Performance
- 30.2.5. Eurofins Central Laboratory LLC
  - 30.2.5.1. Overview
  - 30.2.5.2. Products and Services
  - 30.2.5.3. Strategy
  - 30.2.5.4. Financial Performance

31. Global Central Lab Market Competitive Benchmarking

32. Global Central Lab Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Central Lab Market

34. Central Lab Market Future Outlook and Potential Analysis

34.1 Central Lab Market In 2028 - Countries Offering Most New Opportunities
34.2 Central Lab Market In 2028 - Segments Offering Most New Opportunities
34.3 Central Lab Market In 2028 - Growth Strategies
34.3.1 Market Trend Based Strategies
34.3.2 Competitor Strategies

35. Appendix

35.1. Abbreviations
35.2. Currencies
35.3. Historic And Forecast Inflation Rates
35.4. Research Inquiries
35.5. The Business Research Company
35.6. Copyright And Disclaimer