Axiom MRC has updated all it's market research reports with the Economic Impact Analysis of COVID19 Pandemic on the market. Our team of analyst are following Comprehensive Three Dimensional (3D) Research Methodology along with large number primary interviews with key industry participants to bring insightful market reports to meet the current market requirements.
Central labs are designed and developed to offer laboratory services to support clinical trials for upcoming drugs. Central lab is responsible for various laboratory services such as anatomic pathology services, biomarker services, clinical research & trial services, genetic services, microbiology services and many others. In addition, central lab also provide solutions such as project management, global logistics and sample management, data management and analytics solutions, specimen management and storage, clinical trial kit production and global digital pathology solutions.
The global central lab market has been seeing tremendous growth from the past few years. Major growth factors such as rapid growth in the biotechnology and pharmaceutical industry across the globe, increasing number of clinical trials, and rising adoption of intelligent technologies such as AI and automation in central labs are accredited to the growth of the market. Likewise, factors such as rise in occurrence of diseases and growing demand to reduce the cost of clinical trials are further anticipated to contribute to the market growth. Besides, continuous investment and funding in the research and development activities in the field central lab services and related systems is further expanding the market growth across the globe.
The exclusive COVID 19 impact analysis report by Axiom MRC provides a 3600 analysis of micro and macro-economic factors on the central lab market. In addition, complete analysis of changes on central lab market expenditure, economic and international policies on supply and demand side. The report also studies the impact of pandemic on global economies, international trade, business investments, GDP and marketing strategies of key players present in the market. Also, the COVID-19 pandemic has affected the global central lab market and manufacturers on the both positive as well as negative level in the pandemic period. This is owing to the delay and suspension of the planned clinical trials during pandemic period. However, increasing focus of biopharmaceutical industry on developing therapies and vaccines in response to COVID-19 virus is likely to impact market growth on a positive level.
The study analyses global central lab market based on product, end user and geography.
Various products such as anatomic pathology/histology, biomarker services, clinical research & trial services, genetic services, microbiology services, special chemistry services, specimen management & storage, and others are covered in the global central lab market. Biomarker services segment dominated the market in 2020 and is expected to maintain its dominance during the forecast period. The use of biomarkers in clinical development programs is an increasing requirement for many disease areas. Biomarker central laboratory services help drug developers produce a biomarker identification strategy to help drive commercial and clinical success of a drug.
Major end users of the global central lab market are pharmaceutical companies, biotechnology companies, and academic & research institutes. Pharmaceutical companies segment held the largest share of the market. An increasing demand for efficient and cost effective clinical testing solutions and various central lab services from biotechnology and pharmaceutical companies is major factor behind the growth of the market. Rapid growth in the global pharmaceutical industry owing to factors such as advanced drug discovery using AI, automation in the pharma supply chain, accelerated digitization post COVID-19 and many others is further likely to benefit the growth of the market.
Geographically, the study is comprised of the key countries of North America, Europe, Asia-Pacific and Rest of the World. North America held the largest market share of global central lab market and is likely to dominate the market over the estimated time frame. The US followed by Canada have dominated the market in NA region. The massive presence of various market players across the region is major factor driving the market growth in North America. A rapid growth in the industries such as the biotechnology and pharmaceutical industry across the region and ongoing advancements and innovations in these industries to provide various beneficial products to customers are further likely to improve market growth in the NA region.
The major key players of market includes ACM Global Central Lab, Barc Lab (Cerba Research), Bioscientia (Sonic Healthcare), Celerion, CIRION BioPharma Research, Clinical Reference Laboratory, Eurofins Central Laboratory, Frontage Laboratories, Inc, ICON Central Labs, INTERLAB Central Lab Services, InVitro International, Lab Corp/Covance, LabConnect, PPD Inc and Q2 Solutions among others.
February 2021: Clinical Reference Laboratory (CRL) announced that its CRL Rapid Response COVID-19 saliva test is available through Walgreens Find Care, a digital health platform.
May 2020: Frontage announced the development of a 3 in 1 multiplex PK assay for evaluation of chloroquine, hydroxy-chloroquine, and azithromycin in human plasma to support COVID-19 clinical trials.
March 2020: Cerba Research announced that its partner in China, Teddy Lab, has been selected as the authorized central lab for a Trial of Lopinavir–Ritonavir in Adults Hospitalized with Severe Covid-19.
January 2018: ACM Global Laboratories announced a strategic acquisition of DrugScan and DSI Medical Services to establish laboratory service portfolio and drug testing capabilities. DrugScan is a one of the best toxicology laboratory testing company, delivering advanced medication monitoring solutions to healthcare providers across the United States.
The study analyses global central lab market based on product, end user, and geography. Various products such as anatomic pathology/histology, biomarker services, clinical research & trial services, genetic services, microbiology services, special chemistry services, specimen management & storage, and others are covered in the global central lab market. The biomarker services segment is likely to dominate the market over the forecast period. Major end users of the global central lab market are pharmaceutical companies, biotechnology companies, and academic & research institutes. The pharmaceutical companies segment is likely to register fastest growth in years to come. Geographically, the study is comprised of the key countries of North America, Europe, Asia-Pacific and Rest of the World.
Why to buy this report:
