New York, Nov. 24, 2022 (GLOBE NEWSWIRE) — Reportlinker.com Announces the Release of “Central Lab Global Market Report 2022: Ukraine-Russia War Impact” report – https://www.reportlinker.com/p06365021/?utm_source=GNW
The global central laboratory market is expected to grow from $2.28 billion in 2021 to $2.51 billion in 2022 at a compound annual growth rate (CAGR) of 9.9%. The war between Russia and Ukraine disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has resulted in economic sanctions against multiple countries, rising commodity prices and supply chain disruptions, affecting many markets around the world. The central laboratory market is expected to grow to $3.28 billion by 2026 at a CAGR of 6.9%.
The central laboratory market consists of the sale of central laboratory services by entities (manufacturers, sole proprietors and partnerships) used to support clinical trials and genetic testing in the drug development process. The central laboratories use validated technology, standardized procedures and reference series and study-specific test kits to perform all laboratory tests requested by the sponsor.
The Central Lab offers bundled services where all samples are submitted from the trial clinical sites. This ensures that the results and analysis are consistent.
The main types of services in the central laboratory are genetic services, biomarker services, microbiology services, anatomical pathology and histology, sample management and storage, specialty chemistry services, and others. Genetic services are services that identify and advise those at risk for genetic abnormalities.
The different test types include human and tumor genetics, clinical chemistry, medical microbiology and cytology, and other esoteric tests used at various end-users such as pharmaceutical companies, academic and research institutes, and biotechnology companies.
North America was the largest region in the central laboratory market in 2021. Asia Pacific is expected to be the fastest growing region over the forecast period.
The regions covered in Central Lab market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The increase in the number of clinical trials is expected to drive the central laboratory market in the future. A clinical trial is a type of research study aimed at evaluating a new treatment, a new drug, or the safety and effectiveness of a medical device.
Pharmaceutical and biotechnology companies outsource central laboratories for testing, developing and manufacturing new products. For example, according to ClinicalTrials.gov, a registry of clinical trials by the National Library of Medicine and a US-based medical library maintained by the US federal government, there were 422,646 clinical trials listed in July 2022 compared to 399,523 in 2021. Therefore will the increase in the number of clinical trials promote the central laboratory market.
Technological advancement is a major trend gaining popularity in the central laboratories market. Large companies operating in the central laboratory sector are focused on developing new technological solutions to strengthen their position in the market.
For example, in December 2021, Instron, a US-based manufacturer of a wide range of advanced materials testing equipment, introduced Bluehill Central Lab management software that allows lab administrators to use Bluehill Central Lab remotely, regardless of the number or location of tests. systems. The new Bluehill Central software streamlines the laboratory administration procedure by managing Instron systems and data at the enterprise level using a single database.
With this platform, lab administrators can remotely manage a variety of operations across all frames on their network, including all Bluehill Universal users and permissions, test method templates, results, file revision approvals, and audit trail information.
In December 2021, Thermo Fisher Scientific, a US-based provider of scientific instruments, reagents and consumables, and software services, acquired PPD Inc. left for $17.4 billion. The acquisition is expected to strengthen Thermo Fisher’s capabilities and help it become a leader in clinical research services. P.P.D., Inc. (Pharmaceutical Product Development), is a US-based contract research organization that provides comprehensive, integrated drug development, laboratory and lifecycle management services.
The countries covered in the central lab market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and the US.
The Central Lab Market Research Report is one of a series of new reports that provide Central Lab market statistics, including the global market size of the Central Lab industry, regional shares, competitors with market share of Central Lab, detailed market segments of Central Lab, market trends, and opportunities . , and any further data you may need to thrive in the central lab industry. This market research report from Central Lab provides a complete perspective of everything you need, with an in-depth analysis of the industry’s current and future scenarios.
Read the full report: https://www.reportlinker.com/p06365021/?utm_source=GNW
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