Central laboratory market size, share and trends analysis report by services (genetic services, biomarker services), by end use (pharmaceutical companies, biotechnology companies), by region, and segments forecast, 2022-2030
NEW YORK, Sep 13, 2022 (GLOBE NEWSWIRE) – Reportlinker.com announces the release of “Central Laboratory Market Size Analysis Report, Market Share and Trends by Services, by End Use, Region and Sector Forecast, 2022 – 2030”- https://www.reportlinker.com/p06318453/?utm_source=GNW
Central Laboratory Market Growth and Trends
The global central laboratory market size is expected to reach $5.08 billion by 2030. It is estimated to register a compound annual growth rate of 6.7% during the forecast period, driven by increased investment in research and development and an increased focus of sponsors and investigators on reducing research costs. The outsourcing of central laboratory work is an important factor driving market growth.
The outsourcing of central laboratory work is a rising trend in the clinical trial industry, which is expected to create profitable business opportunities for central laboratories. Investigators and sponsors outsource approximately 80% of central laboratory work and prefer laboratories that provide integrated, comprehensive services.
Investment in research and development has seen a boom in the past years, which can be attributed to the enhanced focus on the pharmaceutical industry during the pandemic, and as we enter the third year of the epidemic, investment in science has boosted the pipeline and many clinical trials have been conducted. I started.
During the pandemic, activity in interventional studies has steadily grown. The pharmaceutical industry has developed a new way of conducting trials to manage ongoing clinical trials during a pandemic.
The pandemic has also created new opportunities for growth, with increased focus on mRNA vaccine development and investigations for many COVID-19 treatment options, however sample handling, supply chain and logistics play an important role in the sample sent to clinical laboratories.
These samples are very sensitive and require quick logistics with temperature control, thus maintaining sample stability to obtain the most accurate results.
The emergence of small and medium-sized central laboratories has intensified competition globally and the presence of small and medium-sized central laboratories is very prominent in developing regions such as the Asia-Pacific region.
These laboratories have become crucial to the management of clinical trials globally due to the availability of central laboratory services at prices between 20% and 35% lower, compared to Europe and the United States Furthermore, the lower cost of conducting clinical trials in developing economies facilitates the selection of central laboratories located in These areas, which can be attributed to lower logistical costs and being close to the experiment site.
Glimpse of the Central Laboratory Market Report
• The genetic services sector is expected to grow at the fastest rate, due to the increasing importance of genetic analysis in clinical studies
• Strategic acquisition is one of the factors affecting changing market dynamics. For example, players are acquired by medium and large-sized enterprises to enhance their global reach and enter into new business sectors
• Pharmaceutical companies gained the largest market share through end-use, due to an increase in the number of interventional studies and investment in research
• North America dominated the global market in 2021, and the need for genetic testing in clinical trials related to personal health care in disease areas, such as diabetes and cancer, is increasing.
• Key market players include ACM Global Laboratories, Labconnect, Cerba Research, Eurofins Scientific, Medicover Integrated Clinical Services and Versiti
Read the full report: https://www.reportlinker.com/p06318453/?utm_source=GNW
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