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What Are the Projected Growth Rates and Market Size for the Global Central Lab Market?
The global central lab market has seen significant growth in recent years, expecting to grow from $3.06 billion in 2024 to $3.31 billion in 2025 at a compound annual growth rate (CAGR) of 8.2%. This growth during the historic period has been driven by factors such as increased clinical trials growth, growth in drug development activities, regulatory compliance, increased healthcare research, and growth in diagnostic testing.
Further strong growth is forecasted for the central lab market, with projections reaching up to $4.54 billion in 2029 at a CAGR of 8.2%. The forecast period promises growth spurred by increasing personalized healthcare, increasing biomarker research, increasing demand for telemedicine and remote monitoring, global health challenges, and growing demand for precision diagnostics. Several key trends are made apparent within the forecast period, including technological advancements, innovative solutions, and strategic collaborations.
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What Are the Key Growth Drivers of the Central Lab Market?
A significant driver of the global central lab market is the rise in the number of clinical trials. Clinical trials are research studies aimed at evaluating the safety and effectiveness of new treatment, new drugs, or medical devices. Pharmaceutical and biotechnology companies frequently outsource central labs for testing, development, and the production of new products, contributing to the market’s growth.
Which Segments Are Prominent in the Global Central Lab Market?
The central lab market report identifies these key segments:
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
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Who Are the Major Players in the Central Lab Market?
Prominent 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, 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., and Rho Inc.
What Emerging Trends Are Visible in The Central Lab Market?
The central lab market is seeing a trend of developing innovative comprehensive diagnostic services for various cancer diagnostic services.
What Regional Analysis Is Available for the Central Lab Market?
North America was the largest region in the central lab market in 2024, followed by the fast-growing Asia-Pacific region in the forecast period covering Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
What Does The Central Lab Market Report 2025 Offer?
The Central Lab is a lab that provides bundled services where all samples from the trial’s clinical locations are submitted, ensuring consistent results and analysis. The Central Lab Market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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