The central lab market comprises laboratory testing services provide to sponsors of clinical trials. Central labs conduct various clinical pathology tests such as hematology, clinical chemistry and urinalysis, and coordinate sample management, data management and reporting for clinical trials. They help reduce costs and improve quality for pharmaceutical and biotechnology companies. Central labs are well-equipped with advanced technology and specialists to efficiently process thousands of samples and regulatory reporting.

Global central lab market is estimated to be valued at USD 3.40 Bn in 2024 and is expected to reach USD 5.31 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 6.6% from 2024 to 2031.

Key Takeaways
Key players operating in the central lab market are ACM Global Laboratories, Barc Lab (Cerba Research), Bioscientia (Sonic Healthcare), Celerion, CIRION BioPharma Research, Clinical Reference Laboratory, Eurofins Central Laboratory, Frontage Laboratories, Inc., ICON Central Laboratories, INTERLAB Central Lab Services, InVitro International, Labcorp/Covance, LabConnect, Medpace, MLM Medical Labs GmbH, PPD, Q² Solutions. The growing demand for outsourcing clinical trials to focused specialist providers is driving the growth of key players. Technological advancements such as LIMS, EDC and other data management solutions are helping central labs to improve efficiencies.

Market Trends
The Global Central Lab Market Size is witnessing high growth owing to trends such as increasing R&D investment by pharmaceutical companies and rising complexities in drug development. Moreover, growing geriatric population and prevalence of chronic and infectious diseases is adding to the clinical trial volume. There is also a growing trend of companies outsourcing non-core operations to centralized specialized service providers to reduce costs and improve quality.

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