PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1684188
PUBLISHER: MarketsandMarkets | PRODUCT CODE: 1684188
The global Central lab services/clinical trial lab services market is projected to reach USD 8.18 billion by 2030 from USD 5.97 billion in 2025, at a CAGR of 6.5% during the forecast period.
Scope of the Report | |
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Years Considered for the Study | 2024-2030 |
Base Year | 2024 |
Forecast Period | 2024-2030 |
Units Considered | Value (USD billion) |
Segments | Phase, Service Type, Therapeutic Area, Application,End User, and Region |
Regions covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
This is due to increasing adoption of drug discovery, as the adoption increases the demand for these services rises. Additionally, increasing government support to provide grants for healthcare is increasing, thus rising the number of clinical trials, consequently increasing the demand for the central lab clinical service trial. However, the high cost associated with the clinical trial methods are the major restraint to the market. Additionally, the shortage of trained healthcare professionals & limited knowledge about the services is major challenge for the market growth. But is creating a conducive environment for market expansion over the forecast period of 2025-2030.
"The pharmaceutical & biopharmaceutical companies segment of central lab services/clinical trial lab services market by end user to hold largest position forecast period."
Based on the end user, the central lab services/clinical trial lab services market is divided into pharmaceutical & biopharmaceutical companies, CROS, medical device companies, and other end users. Among these, in 2024 pharmaceutical & biopharmaceutical companie segment account for the largest market share of 61.8% in central lab services/clinical trial lab services market. This is due to the rising prevalence of rare disease. Majority of the pharmaceutical companies are conducting the clinical trials for the cure of such diseases via advanced technologies. Thus, majority of the companies prefer these services. Thus, as the prevalence of these diseases is increasing the need for long term treatment is rising, consequently increasing the demand for central lab services/clinical trial lab services market.
"The oncology segment accounts for the largest market share in central lab services/clinical trial lab services market."
Based on theraprutic area, the central lab services/clinical trial lab services market is segmented into oncology, infectious diseases, neurology, cardiology, and other therapeutic areas. The oncology segment holds for the largest market share in central lab services/clinical trial lab services market due to increasing number of cancer patients. Oncology clinical trials often require modern diagnostic testing, including biomarker testing, genomic testing, and tumor profiling, to assess the effectiveness and safety of new cancer therapies in clinical trials. Central labs are important in providing these services, ensuring that testing is viable, consistent, and compliant with regulatory standards across multiple sites. With the rising focus on precision medicine, the need for specialized and high-quality lab testing in oncology is significant, making the oncology segment the largest and most critical in the central lab services market.
"Asia Pacific is the fastest growing region of the central lab services/clinical trial lab services market by region."
The global central lab services/clinical trial lab services market is segmented into five major regions, namely, North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is the fastest growing regional market for entral lab services/clinical trial lab services and is estimated to grow at the highest CAGR during the forecast period. This is due to increasing prevalence of rare diseases and rising population across the region. Asia Pacific region includes Japan, China, India, and Rest of Asia Pacific. Among these, China accounts for the largest market share in central lab services/clinical trial lab services market in 2024. This is due to its rapid expansion of pharmaceutical and biotechnology industries, added with the with a large patient population and increasing demand for innovative treatments. The country's growing healthcare infrastructure, investment in clinical research, and supportive regulatory environment have made it an attractive hub for global clinical trials.
Note 1: Note: Companies are classified into tiers based on their total revenue. As of 2023, Tier 1 = >USD 10.00 billion, Tier 2 = USD 1.00 billion to USD 10.00 billion, and Tier 3 = <USD 1.00 billion.
Note 2: C-level primaries include CEOs, CFOs, COOs, and VPs.
Note 3: Others include sales managers, marketing managers, business development managers, product managers, distributors, and suppliers.
The major players operating in the central lab services/clinical trial lab services market are 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), and REPROCELL Inc. (Japan).
Research Coverage
This report studies the central lab services/clinical trial lab services market based on product, type, end user and region. The report also studies factors (such as drivers, restraints, opportunities, and challenges) affecting market growth and provides details of the competitive landscape for market leaders. Furthermore, the report analyzes micro markets with respect to their individual growth trends and forecasts the revenue of the market segments with respect to five major regions (and the respective countries in these regions).
Reasons to Buy the Report
The report will enable established firms as well as entrants/smaller firms to gauge the pulse of the market, which, in turn, would help them to garner a larger market share. Firms purchasing the report could use one or a combination of the below-mentioned strategies for strengthening their market presence.