Central Lab Services Market worth US$8.18 billion by 2030with 6.5% CAGR | MarketsandMarkets Trademark

Browse 317 market data Tables and 47 Figures spread through 310 Pages and in-depth TOC on "Central Lab Services/Clinical Trial Lab Services Market by Phase (Phase I, II, III), Service Type (Safety Testing, Immunology), Therapeutic Area (Oncology), Modality (Small Molecules, Vaccine), End user (Pharma & CROs) & Region - Global Forecast to 2030
The global Central Lab Services/Clinical Trial Lab Services Market [https://www.marketsandmarkets.com/Market-Reports/central-lab-services-market-106848348.html?utm_source=abnewswire.com&utm_medium=paidpr&utm_campaign=centrallabservicesmarket], valued at US$5.64 billion in 2024, is forecasted to grow at a robust CAGR of 6.5%, reaching US$5.97 billion in 2025 and an impressive US$8.18 billion by 2030. The increasing prevalence of rare diseases such as Huntington's disease and cystic fibrosis drives market growth. Additionally, increased government investment in R&D and technological advancements are expected to impact market growth. The increasing number of pharmaceutical companies globally also poses an opportunistic factor for market growth.

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Browse in-depth TOC on "Central Lab Services Market"

317 - Tables

47 - Figures

310 - Pages

By Based on phase, the clinical trial lab services market is divided into phase I, phase II, phase III, and phase IV. Among these, phase III holds the largest market share in 2024 due to the diverse representation in the clinical trials that will ensure treatments effective to different demographics. The central labs are important during the phase III trials, as it provides comprehensive testing services which includes biomarker analysis, genomic testing and high level of screening, which help in collecting consistent, accurate data from multiple trial sites. In this trial a larger number of participants are required to understand the trial effectively. Additionally, as Phase III trials are the final step before seeking regulatory approval, the quality of data collected is paramount. The need for regulatory compliance, data integrity, and rapid, large-scale testing drives the significant reliance on central lab services in this phase, making it the largest segment in the market. Consequently, the increasing need for this clinical trial has contributed to the segmental growth in the central lab services/clinical trial lab services market.

By End User, the central lab services market is segmented into pharmaceutical & biopharmaceutical companies, CROS, medical device companies, and other end users. Among these pharmaceutical & biopharmaceutical companies are holding the largest share in central lab services/clinical trial lab services market in 2024, owing to increasing investments in R&D and various disease awareness campaigns. Additionally, the increasing funding programs such as grants, and government initiative is increasing the number of clinical trials the globe. Considering stringent regulatory compliance associated with central lab clinical trial service, skilled healthcare professionals are required.

By geography, the clinical trial lab services market is segmented into five major regional segments, namely, North America, Europe, Asia Pacific, Latin America, Middle East & Africa. The north America accounts for the largest market share of 43.8% in the central lab services/clinical trial lab services market in 2024. This is due to increasing prevalence of cardiovascular diseases, chronic kidney diseases, and among others. For instance, as per Center for diseases control and prevention (CDC) data published in October 2024, one person dies every thirty-three seconds of cardiovascular diseases. This shows that there is increasing hospitalization for long-term therapy, thus leading to rising need of new drug and clinical trials. Additionally, the huge presence of central lab services/clinical trial lab services manufacturing companies in the region is increasing the market growth in the region. These companies are investing heavily in research and developments thus providing technologically advanced vascular access devices across the region thus contributing to the regional growth.

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Prominent players in the central lab services market include, Thermo Fisher Scientific Inc. (US), IQVIA (US), ICON plc (Ireland), Labcorp (US), Quest Diagnostics (US), Charles River Laboratories (US), Medpace (US), Frontage lab (US), SGS Societe Generale de Surveillance SA (Switzerland), Eurofins Scientific (Luxembourg), REPROCELL Inc. (Japan), and ACM Global Laboratories (US).

Thermo Fisher Scientific Inc. (US):

Thermo Fisher Scientific is the top provider of scientific services globally for hospitals, clinical diagnostic labs, universities, research institutes, government agencies, pharmaceutical & biotech firms, and the environmental, industrial, R&D, quality, and process control sectors. It offers new technologies and pharma services through its Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, Unity Lab Services, Patheon, and PPD brands. The company operates through four business segments: laboratory products and biopharma services, life sciences solutions, specialty diagnostics, and analytical instruments. In December 2021, Fisher Scientific acquired PPD. Inc. for about USD 16 billion, which enabled Thermo Fisher Scientific to provide customers with clinical research services. PPD is now part of Fisher Scientific's Laboratory Products and Biopharma Services segment.

The company operates in -50 countries across the Americas, the APAC, and the EMEA Some of its subsidiaries are Fisher Clinical Services Inc. (US), Fisher Clinical Services Holding GmbH (Switzerland), Fisher Clinical Services UK Ltd. (UK), Fisher Clinical Services Holding Pte Ltd. (Singapore), PPD South Africa, PPD (New Zealand), Accelerated Enrollment Solutions (China), and PPD-SNBL (Japan).

IQVIA (US):

IQVIA was formed through the merger of Quintiles Transnational Holdings (US) and IMS Health (US) in October 2016. The company provides development and commercial outsourcing services to biopharmaceutical and contract sales & medical solutions companies. It operates through three major segments Technology & Analytics Solutions, Research & Development Solutions, and Contract Sales & Medical Solutions. The Research & Development Solutions segment deals with clinical development activities inlcuidng laboratory services from preclinical testing to post-launch monitoring for biopharmaceutical, pharmaceutical, and medical device companies; government & non-government organizations; and generic & biosimilar customers.

It operates in -100 countries across North America, Europe, Asia, Latin America, and Africa. Some of its subsidiaries are AIT Bioscience (US), Research Network (Shanghai) Co., Ltd. (China), Clintec CRO Services Private Limited (India), and Ireland International Research Limited (Ireland).

ICON plc (Ireland):

ICON plc offers outsourced drug development services to the pharmaceutical, biotechnology, and medical device industries. The company provides clinical, consulting, and commercial services ranging from trial design to post-market commercialization. It also provides services for clinical development processes such as clinical trial management, biometric activities, consulting, imaging, contract staffing, informatics, and laboratory services.

In April 2018, ICON rebranded its acquired ClinicalRM division into ICON Government and Public Health Solutions (GPHS). GHPS provides full-service clinical development and staffing services across multiple US government agencies, global non-government organizations (NGOs), academic institutions, and others in the global health space. In July 2021, ICON acquired PRA Health Sciences for about USD 12 billion.

According to the deal, PRA Health Sciences became a wholly owned unit of ICON. The company operates in 111 locations across 53 countries worldwide. Its subsidiaries are ICON Clinical Research PTY Limited (Australia), ICON Clinical Research (Canada) Inc., ICON Clinical Research (Beijing) Co., Ltd_ (China), ICON Clinical Research (France), and ICON Clinical Research India Private Limited.

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