Central Lab Market Size & Share, by Service Type (Genetic Services, Microbiology Services, Biomarker Services, Anatomic Pathology/Histology, Specimen Management & Storage, Special Chemistry Services, Clinical Research & Trial Services); End-user (Biotechnology Companies, Pharmaceutical Companies, Research Institutes) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2035

  • Report ID: 4233
  • Published Date: Feb 14, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2023-2035

Central Lab Market size is poised to cross USD 4.5 Billion by the end of 2035, growing at a CAGR of 6% during the forecast period, i.e., 2023-2035. In the year 2022, the industry size of central lab was over USD 2.2  Billion. The growth of the market is primarily attributed to the worldwide growing prevalence of numerous genetic abnormalities and the development of novel drugs and devices to treat such types of abnormalities. For instance, in 2021, around 85 novel active substances (NASs) were officially launched globally, which was more than twice the number launched five years ago.

As the occurrence of various diseases rises, so does the demand for new drug discovery and development. Pharmaceutical companies have prioritized efficient service and high-quality data without having to compromise. Therefore, these companies employ central labs for the detection, testing, development, and production of novel drugs and devices. Central labs are intended to facilitate clinical trials for novel drugs as well as genetic testing for a number of genetic diseases. Therefore, ongoing clinical trials for the production of new drugs are estimated to lead to the growth of the market. For instance, till 2022, there have been approximately 134,359 (32%) clinical trials registered in the US region alone, whereas around 221,438 (52%) clinical trials are registered in non-US regions.


Central-Lab-Market
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Central Lab Sector: Growth Drivers and Challenges

Growth Drivers

  • Growing Prevalence of Genetic Disorders Owing to Rising Mutations -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 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 as the Number of Genetic Cases Increasing - Changes in genes, chromosomes, or proteins are detected through genetic testing. Genetic test results confirm or rule out a suspected genetic condition. The increasing number of genetic abnormalities is leading to the growth of genetic testing. For instance, by 2021, over 78,000 genetic tests were in use.
  • Increasing Prevalence of Cancer in All Age Groups of Population - Cancer is one of the leading causes of death globally and numerous clinical trials have been performed to find out the best-suited treatment for it. As per the data provided by the World Health Organization (WHO), nearly 10 million people died from cancer worldwide in 2020.
  • Upsurge in Cardiovascular Diseases (CVDs) Across the World - Conditions affecting the heart or blood vessels are collectively referred to as cardiovascular disease (CVD). It is commonly related to a buildup of fatty deposits inside the arteries. The number of CVDs patients is growing faster which leads to the rising number of testing and trials for new and effective drugs. As per the World Health Organization, in 2019, approximately 17.9 million people died from CVDs, representing 32% of all deaths worldwide.
  • Growing Investment in R&D with Government and Private Support – 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
  • The need for high capital investment to develop and operate a central lab is estimated to hamper the market growth. The central lab requires costly equipment, skilled medical professionals to handle the equipment, and a large space to set up a sophisticated lab facility.
  • Problems Associated with Contamination of Samples
  • Stringent Government Regulations

Central Lab Market: Key Insights

Base Year

2022

Forecast Year

2023-2035

CAGR

6%

Base Year Market Size (2022)

USD 2.2 Billion

Forecast Year Market Size (2035)

USD 4.5 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of Middle East and Africa)
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Central Lab Segmentation

End-user (Biotechnology Companies, Pharmaceutical Companies, Research Institutes)

The global central lab market is segmented and analyzed for demand and supply by end-user into biotechnology companies, pharmaceutical companies, and research institutes, out of which the pharmaceutical companies segment is anticipated to hold the notable share in the global central lab market during the forecast period on account of the clinical studies of prevalent genetic illnesses such as sickle cell anemia, Parkinson's disease, and Alzheimer's disease. As per the data from World Health Organization, in the last 25 years, the prevalence of Parkinson’s disease (PD) has doubled, and more than 8.5 million people worldwide are anticipated to have PD in 2019.

Our in-depth analysis of the global central lab market includes the following segments:

       By Service Type

  • Genetic Services
  • Microbiology Services
  • Biomarker Services
  • Anatomic Pathology/Histology
  • Specimen Management & Storage
  • Special Chemistry Services
  • Clinical Research & Trial Services
  • Others

       By End-User

  • Biotechnology Companies
  • Pharmaceutical Companies
  • Research Institutes

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Central Lab Industry - Regional Synopsis

North America Market Forecast

The North America region central lab market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2035. The high prevalence of infectious and chronic diseases, an increase in patient awareness about the significance of laboratory tests, increasing adoption of technological developments with proper quality, efficient and effective serve, and a significantly growing proportion of research and development in the region. For instance, medical and health research and development (R&D) investment in the United States reached approximately USD 244 billion in 2020, an 11% expansion from 2019.

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Companies Dominating the Central Lab Landscape

top-features-companies
    • Laboratory Corporation of America Holdings (Labcorp)
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis
    • ICON Plc
    • Medpace, Inc.
    • Eurofins Scientific (Ireland) Limited
    • LabConnect
    • Cerba Research NV
    • Frontage Laboratories, Inc.
    • Lambda Therapeutic Research Limited
    • InVitro International (IVRO)
    • Clinical Reference Laboratory,inc

In the News

  • Laboratory Corporation of America Holdings (Labcorp), declared the launch of the first broadlyavailable test, Neurofilament Light Chain (NfL), that delivers direct indicationof neurodegeneration and neuronal injury.

  • Eurofins Scientific (Ireland) Limited, announced the launch of RT-PCR kits thatoffersthe toolset for rapid detection of fast spreading SARS-CoV-2 variant B.1.1.529.

Author Credits:  Radhika Gupta, Shivam Bhutani


  • Report ID: 4233
  • Published Date: Feb 14, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Growing prevalence of genetic disorders, rise in genetic testing, increasing prevalence of cancer, and growing investment in R & D are some major factors driving the growth of the market.

The market is anticipated to attain a CAGR of 6% over the forecast period, i.e., 2023-2035.

Requirement of high capital investments to operate central lab, problems associated with contamination of samples, and stringent government regulationsare estimated to hamper the market growth

The market in North America region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.

The major players in the market areLaboratory Corporation of America Holdings, ICON Plc, Medpace, Inc.,Eurofins Scientific (Ireland) Limited, LabConnect, Cerba Research NV, Frontage Laboratories, Inc., and others.

The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

The market is segmented by service type, end-user, and by region.

The pharmaceutical companies segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
Central Lab Market Report Scope
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