According to Latest Report Study, the global central lab market size is predicted to surpass over US$ 4 billion by 2030 and expanding at a noteworthy CAGR of 6.1% from 2021 to 2030.
According to Latest Report Study, the global central lab market size is predicted to surpass over US$ 4 billion by 2030 and expanding at a noteworthy CAGR of 6.1% from 2021 to 2030.
Central labs are designed to provide services for supporting clinical trials for upcoming drugs, genetic testing services for various genetic diseases such as Parkinson’s, Alzheimer’s, sickle cell anemia, and microbiology testing services such as testing the kinetics and growth of different microbes. Increase in number of diseases, advancements in new therapies & drugs, and large number of research grants, proposals, and funding to develop new testing procedures by governments are factors that drive global central lab market. However, central lab logistics problems such as fluctuation in temperature of samples, stability problems such as purity, contamination, and stringent & complex government regulations are projected to hamper the growth of the global central lab market.
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Rise in Prevalence of Diseases to Drive Global Market
Percentage rise in the number of patients suffering from cancer and circulatory diseases and increase in incidence of these diseases are the major factors boosting the growth of the global central lab market. According to the WHO, cancer, heart disease, and other chronic conditions account for over 24 million deaths in the world. The number of cancer cases is expected to, at least, double in most countries over the next 25 years. This contributes to the growth of the global central lab market. Moreover, trials carried out in traditional labs lacked standard operating procedures (SOPs), analysis methods and proper report formats, and high error rate gave rise to central labs. These labs train the site staff for proper collection, packaging, and labelling requirements, thereby reducing human errors, which can lead to miss identification and reporting of samples. Additionally, a large number of research grants and funding fuels the growth of the global market.
Laboratories Work with Logistics Partners to Maintain Business Continuity During COVID-19 Crisis
Companies in the central lab market have been under scrutiny for minimizing potential disruptions to logistical movements of human samples and potential supply issues for clinical kits during the ongoing COVID-19 pandemic. LabConnect - a preeminent provider of central laboratory support services is increasing efforts to closely work with its logistics providers and courier partners to implement alternative transportation solutions, owing to increased cost of transporting supplies.
Stakeholders in the central lab market are collaborating with network laboratories to assess the current coronavirus situation and plan its potential impact on lab testing services. Laboratory vendors are closely monitoring and updating their business continuity plans in severely affected COVID-19 regions. Stakeholders are working closely with their staff to monitor subject compliance.
Additional Training of Non-physician Medical Specialists Accelerates Lab Procedure Outcomes
The central lab market is estimated to surpass US$ 4 Bn by 2030. However, central lab stakeholders are posed with many challenges, such as time consuming processes, since several sites samples need to reach one lab and may take several days. Hence, central labs are now sharing this responsibility with local lab facilities whilst increasing R&D to adopt processes that accelerate their lab procedures.
On the other hand, the German healthcare system in the central lab market poses issue in invoicing medical services to non-physician medical specialists in hospitals due to the scarcity of medical professionals. Hence, the German Society for Laboratory Medicine (DGKL) is increasing efforts to provide additional training in a master program in laboratory medicine aimed at medical professionals to facilitate invoicing for lab services in hospitals.
Companies Deploy AI, Automation, Blockchain Technologies to Support Central Labs
A plethora of technological and software innovations are storming the central lab market. Q2 Solutions-a global clinical trial laboratory services organization is supporting central labs with innovations such as artificial intelligence (AI) protocol reading, sample & consent tracking, and next-gen flow cytometry result reporting automation, among others.
Direct to patient kit shipments, blockchain for sample tracking, and electronic histology & pathology reports are benefitting stakeholders in the central lab market. They are unlocking growth opportunities in supporting decentralized virtual trials innovation. Thus, companies are partnering with mobile nurse and phlebotomy companies to enable in-home specimen collection from individuals and patients alike.
Scope of The Report
| Report Coverage | Details |
| Market Size in 2021 | USD 2.62 billion |
| Revenue Forecast by 2030 | USD 4 billion |
| Growth rate from 2022 to 2030 | CAGR of 6.1% |
| Base Year | 2021 |
| Forecast Period | 2022 to 2030 |
| Segmentation | Product, End User, Region |
| Companies Covered | ACM Global Central Lab, Barc Lab (Cerba Research), Bioscientia (Sonic Healthcare), Celerion, CIRION BioPharma Research, Clinical Reference Laboratory, Lab Corp/Covance, Eurofins Central Laboratory, Frontage Laboratories, Inc., ICON Central Labs, INTERLAB Central Lab Services, InVitro International, LabConnect, and Medpace |
Report Highlights
In terms of product, the global central lab market has been classified into genetic services, biomarker services, microbiology services, anatomic pathology/histology, specimen management & storage, special chemistry services, and clinical research & trial services. A biomarker helps to increase the drug’s performance in patients receiving treatment in clinical trials. This is anticipated to boost the expansion of the segment during the forecast period. Genetic services was the second largest segment, in terms of market share, in 2020. The increase in risk of genetic disorders is likely to drive the segment during the forecast period.
In terms of end user, the global central lab market has been categorized into pharmaceutical companies, biotechnology companies, and academic & research institutes. The pharmaceutical companies segment accounted for a prominent share of the global central lab market in 2019, as these companies focus on reducing cost of development & manufacturing of products, and central lab services are most commonly outsourced services by these companies. Central lab services provide advanced technology and use of innovative processes, which helps in the drug development process. These factors are anticipated to propel the segment during the forecast period. The segment is expected to expand at a CAGR of 4% from 2021 to 2030.
The global central lab market has been divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global central lab market in 2020, followed by Europe. North America’s large market share can be ascribed to significant healthcare expenditure, early availability of new products, and increase in research activities. The market in North America is anticipated to expand at a CAGR of 6% from 2021 to 2030. Europe is expected to account for 23.8% market share by 2030. The market in the region is estimated to reach US$ 969.2 Mn by 2030.
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Growth Drivers and Challenges
Growth Drivers
- Growing Prevalence of Genetic Disorders - A genetic disorder is a medical disease caused by one or more malformations in the genome. These disorders consist of several types of chronic diseases and birth defects that are received from one or both parents. Such disorders require an in-depth research and study to discover an optimum treatment. For instance, there are over 6,010 clinically defined rare diseases, out of these 72% are genetic disorders.
- Rise in Genetic Testing - Changes in genes, chromosomes, or proteins are detected through genetic testing. A genetic test results confirm or rule out a suspected genetic condition. The increasing number of genetic abnormalities is leading the growth of genetic testing. For instance, by 2021, over 78,000 genetic tests were in use.
- Increasing Prevalence of Cancer - Cancer is one of the leading cause of deaths globally and numerous clinical trials have been performing to find out the best suited treatment for it. As per the data provided by the World Health Organization (WHO), nearly 10 million people were died from cancer worldwide in 2020.
- Upsurge in Cardiovascular Diseases (CVDs) - Conditions affecting the heart or blood vessels are collectively referred as the cardiovascular disease (CVD). It is commonly related to a buildup of fatty deposits inside the arteries. The number of CVDs patients is growing faster that leads to the rising number of testing and trials for new and effective drugs. As per the World Health Organization, in 2019, an approximately 17.9 million people died from CVDs, representing for 32% of all deaths worldwide.
- Growing Investment in R&D –According to the data released by the Unesco Institute for Statistics, worldwide R&D investment has continued to rise, with an average annual increase of 4.7% over the last decade (2010-2020). In global terms, the proportion of global GDP invested in R&D has grown substantially from 1.61% in 2010 to 1.93% in 2020.
Challenges
- Requirement of High Capital Investments to Operate Central Lab
- Problems Associated with Contamination of Samples
- Stringent Government Regulations
Key Players
The global central lab market is fragmented in terms of number of players. Key players operating in the global market include ACM Global Central Lab, Barc Lab (Cerba Research), Bioscientia (Sonic Healthcare), Celerion, CIRION BioPharma Research, Clinical Reference Laboratory, Lab Corp/Covance, Eurofins Central Laboratory, Frontage Laboratories, Inc., ICON Central Labs, INTERLAB Central Lab Services, InVitro International, LabConnect, and Medpace.
Market Segmentation
- By Product
- Genetic Services
- Biomarker Services
- Microbiology Services
- Anatomic Pathology/Histology
- Specimen Management & Storage
- Special Chemistry Services
- Clinical Research & Trial Services
- Ohers
- By End User
- Pharmaceutical Companies
- Biotechnology Companies
- Academic & Research Institutes
- By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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