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Central Lab Market Trends

  • Report ID: GMI10831
  • Published Date: Aug 2024
  • Report Format: PDF

Central Lab Market Trends

Advancements like enhanced capabilities in next-generation sequencing (NGS), automated lab systems, AI and machine learning, point-of-care testing innovations, and advanced biosensors are elevating the precision, efficiency, and scope of lab services.

 

  • NGS technology allows for comprehensive analysis of genetic material, providing detailed insights into genetic disorders, cancers, and other diseases. It offers high-throughput capabilities that can process vast amounts of genetic data quickly and accurately.
     
  • Additionally, automation in laboratories involves the use of robotic systems and automated analyzers to perform routine tasks such as sample handling, testing, and result analysis. This reduces human error, increases throughput, and enhances reproducibility.
     
  • Furthermore, the incorporation of POCT technologies enables rapid testing at the patient’s location, providing immediate results that can be used for timely decision-making. Innovations in POCT devices are making them more portable, accurate, and user-friendly.
     
  • Moreover, recent advancements include more sensitive and specific biosensor for detecting a wide range of biomarkers and pathogens. These technologies enhance testing efficiency, accuracy, and capabilities, making central labs crucial for modern healthcare and research.
Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

Global central lab industry was valued at USD 3.1 billion in 2023 and is anticipated to register 5.1% CAGR between 2024 and 2032 due to growing emphasis on outsourcing of testing services and extensive growth in R&D investments.

The biomarker services segment in the market accounted for USD 934.5 million in 2023, driven by the rise of precision medicine and the pharmaceutical industry's increasing reliance on biomarkers for drug development.

North America central lab market size accounted for USD 1.1 billion in 2023 due to increasing focus on personalized medicine and rising incidence of chronic diseases.

A.P. Moller Holding A/S, ACM Global Laboratories, BioAgilytix Labs, Cerba Research, Cirion Biopharma Research Inc., Covance Inc., Eurofins Scientific, Frontage Laboratories, ICON Central Laboratories, and LabConnect, among others.

Central Lab Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 16
  • Tables & Figures: 121
  • Countries covered: 23
  • Pages: 110
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