openPR Logo
Press release

What's the next big thing in the Central Lab Market ? Covance(Labcorp), Eurofins Global Central Library, ICON Central Labs

06-05-2019 03:32 PM CET | Advertising, Media Consulting, Marketing Research

Press release from: Future Market Insights

What's the next big thing in the Central Lab Market ?

Pharmaceutical companies are seeking for ways to reduce cost of development and manufacturing their products. Central lab services are one of the most commonly outsourced services by these companies. Apart from reduced cost, the use of central labs also accelerates the drug development process. Central labs are generally fully outsourced by pharmaceutical and biopharmaceutical companies. Many CRO’s have become interested in central lab services, since they provide bundled services that allows them to take a broad range of services.

Request Sample Report @ https://www.futuremarketinsights.com/reports/sample/rep-gb-9067

Central Lab Market: Key Players

There are a number of large players in the central lab market. Some of the players that offer central lab services include, Covance(Labcorp), Eurofins Global Central Library, ICON Central Labs, Medpace Reference Laboratory, PPD Central Lab and Q² Solutions among many others.

Some of the key strategies that the central lab market players impose are, bundling services and adopting advance technology solutions. Due to large volume of clinical trial study data and increasing complexity, bundled services offers a variety of services to pharmaceutical and biopharmaceutical companies at a discounted rate. Furthermore, adoption of advance technology and software to automate some process, aids in reducing time duration for some services, thereby reducing the cost of the clinical trial.

The pharmaceutical industry is evolving and strategic partnerships have become significantly more common across the industry. A number of companies sign multiyear, fixed price based service agreement with either a single central lab or multiple labs. For an instance, in 2016, Pfizer established relationship [p with its fourth strategic partner inventive Health. The company has already been in a partnership with ICON, Parexel and PPD.

Thus central lab market is expected to grow at a significant rate owing to the increase in number and complexity of clinical trials, increase in prevalence of diseases and increasing need to reduce the cost of trails along with the rising trend of outsourcing across the world.

Central Lab Market: Drivers and Restraints

Increase in the complexity of clinical trials and its environment has led to the emergence and growth of a number of central labs across the world. Increase in number of clinical trials, reduced cost of trials, advancement in new therapies and drugs are some of the factors that argument the growth of the central lab market. However, regulatory challenges may hinder the growth of the market during the forecast period.

Central Lab Market: Segmentation

The global Central Lab market is segmented by service type, end users and region:

Based on the service type, the global Central Lab market is segmented into:

Genetic Services
Biomarker Services
Microbiology Services
Anatomic Pathology/Histology
Specimen Management & Storage
Special Chemistry Services
Others

Based on the end users, the global Central Lab market is segmented into:

Pharmaceutical Companies
Biotechnology Companies
Academic and Research Institutes

Central Lab Market: Overview

Central Lab market is segmented into service type, end users and regions. Central lab service provides have a number of services that may be bundled or singular services. These services can be broadly categorized as genetic services, biomarker development services, microbiology services, histology services, specimen management and storage services, specialty chemistry services including coagulation, electrophoresis, liquid chromatography and toxicology among other services.

Request to View TOC @ https://www.futuremarketinsights.com/toc/rep-gb-9067

Central Lab Market: Regional Outlook

North America combined with Europe take the maximum share of the radiation protection market. This is due to advancement in technology, increased healthcare budget, rise in awareness, and increasing number of interventional cardiology procedures in the regions. However in regions such as China and India, the growing demand for interventional cardiology procedures, ageing population and limited number of healthcare professionals has created an opportunity for the growth of the Central Lab market in such regions. Thus, the Central Lab market is expected to grow with a significant CAGR in the APAC region.

Future Market Insights
U.S. Office
616 Corporate Way, Suite 2-9018,
Valley Cottage, NY 10989,
United States
T: +1-347-918-3531
F: +1-845-579-5705
Email: sales@futuremarketinsights.com
Web: https://www.futuremarketinsights.com

ABOUT US:
Future Market Insights is the premier provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centers in the U.S. and India.
FMI’s research and consulting services help businesses around the globe navigate the challenges in a rapidly evolving marketplace with confidence and clarity. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. We continuously track emerging trends and events in a broad range of end industries to ensure our clients prepare for the evolving needs of their consumers.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release What's the next big thing in the Central Lab Market ? Covance(Labcorp), Eurofins Global Central Library, ICON Central Labs here

News-ID: 1765750 • Views:

More Releases from Future Market Insights

Global Lithium Ion Battery Separator Market Projected to Reach US$ 3,256.7 Million by 2032
Global Lithium Ion Battery Separator Market Projected to Reach US$ 3,256.7 Milli …
The lithium-ion battery separator is a critical component in lithium-ion batteries, responsible for preventing short circuits and ensuring safe and efficient battery performance. It acts as a physical barrier between the positive and negative electrodes, allowing lithium ions to pass through while blocking the flow of electrons. With advancements in separator technology, these separators play a key role in enhancing battery capacity, cycle life, and overall safety in various applications,
Industrial Drums Market on a Trajectory to Reach US$ 17.6 Billion by 2027, Bolstered by a Robust 7.1% CAGR from 2022
Industrial Drums Market on a Trajectory to Reach US$ 17.6 Billion by 2027, Bolst …
The Industrial Drums Market is experiencing a steady and promising trajectory, with an estimated value of US$ 12.5 billion in 2022, projected to escalate to US$ 17.6 billion by 2027 at a commendable Compound Annual Growth Rate (CAGR) of 7.1%. This growth is substantiated by a 6.6% CAGR in volume during 2022-27, as per Future Market Insights. Anticipated to expand 1.5 times within this period, the market presents alluring prospects for industry
Supermarkets, Convenience Stores, and Eco-friendly Choices Fuel the Expansion of the Metal Cans Industry, Catering to Health-conscious and Environmentally-aware Consumers
Supermarkets, Convenience Stores, and Eco-friendly Choices Fuel the Expansion of …
The metal cans market is predicted to grow at a CAGR of 5% over the forecast period, according to research by Future Market Insights. The industry's estimated value is expected to increase from US$ 56 Bn in 2023 to US$ 91.1 Bn by 2033. The market for metal cans has been driven by the heightened demand for the product in food and beverages industry. Metal cans helps prolong shelf-life of perishable
Folding IBCs Market Poised for Growth: Expected to Reach US$ 528 Million by 2027 with a 4.8% CAGR
Folding IBCs Market Poised for Growth: Expected to Reach US$ 528 Million by 2027 …
The folding intermediate bulk containers (IBCs) market is on a growth trajectory, with an estimated value of US$ 418 million in 2022, projected to reach US$ 528 million by 2027, showcasing a Compound Annual Growth Rate (CAGR) of 4.8%. Remarkably, the China folding IBCs market defied initial pandemic-related skepticism and is anticipated to grow by 6.9% year on year in 2022. Despite global challenges, China's folding IBCs market is poised to contribute

All 5 Releases


More Releases for Central

Quality Dentistry in Central London
Based in the heart of central London, Pall Mall is the home of world class dentistry, including preventative, restorative and cosmetic procedures. Conveniently located minutes away from Victoria, Green Park and Piccadilly tube stations, the dentist in Victoria is located on Pall Mall. The team can proudly announce that they have brightened over 250,000 patients over the course of 12 years. If you're searching for a professional teeth and gum
Central Nervous System (CNS) Therapeutic Market Central Nervous System (CNS) The …
MARKET INTRODUCTION The central nervous system (CNS) is the control panel of the body, which is responsible for cognition, movement, senses and emotions. Central nervous system diseases, is a group of neurological disorders that affect the structure or function of the brain or spinal cord, which collectively form the central nervous system (CNS). The CNS diseases include neurodegenerative diseases, neurodevelopmental diseases and traumatic injuries. Drugs such as analgesics, anesthetics, nervous system
Central Air Conditioning (Central A/C Market to Witness Robust Expansion by 2024
LP INFORMATION offers a latest published report on Central Air Conditioning (Central A/C Market Analysis and Forecast 2019-2025 delivering key insights and providing a competitive advantage to clients through a detailed report. According to this study, over the next five years the Central Air Conditioning (Central A/C market will register a xx% CAGR in terms of revenue, the global market size will reach US$ xx million by 2024, from US$
Central Hotels Appoints General Manager at Canal Central Hotel in Business Bay, …
Central Hotels is pleased to announce the appointment of Shady Dawad as General Manager of Canal Central Hotel in Business Bay, Dubai. Shady is an experienced hotelier with over 10 years spent in the UAE working with a number of prestigious brands. Ammar Kannan, Group General Manager of Central Hotels said, “We are delighted to welcome Shady as the General Manager of the luxurious Canal Central Hotel Business Bay. Shady has
Central Hotels Announces Soft Opening of Royal Central Hotel The Palm
Crowning a stellar year of rapid growth, Central Hotels has announced the soft opening of Royal Central a luxurious 5-star resort at The Palm. The stunning hotel features 207 elegantly-appointed rooms and suites, each beautifully curated to intuitively meet the needs of discerning travellers. One of the biggest attractions of the resort is its striking location on the East Crescent of Dubai’s iconic Palm Jumeirah. A stone’s throw-away from the
Central Sutton Aesthetic Dentistry
Central Sutton Aesthetic Dentistry are experts at creating a calm and welcoming environment, a vital factor in any dental clinic looking to provide the best possible experience for their patients. The dentist in Sutton Coldfield, situated only a three-minute walk from Gracechurch Shopping Centre, has been established there for over 30 years. The practice has become extremely well-versed in providing only the highest standards of dental care. This experience combined