Axiom MRC has updated all it's market research reports with the Economic Impact Analysis of COVID19 Pandemic on the market. Our team of analyst are following Comprehensive Three Dimensional (3D) Research Methodology along with large number primary interviews with key industry participants to bring insightful market reports to meet the current market requirements.
A central lab is an institution that is completely dedicated to laboratory assessments. These laboratories are equipped with improved facilities which are not possible to provide at each local labs or hospital-associated labs. Central labs perform various protocol-specific tests as they are maintained primarily for clinical trial-related work. These labs are equipped with advanced technology based products and uses sophisticated software to track, record, and transmit the lab outcomes after analyzing the samples.
The North American central lab market is presently being driven by several driving factors. Both the United States and Canada are dominating the market in the NA region. A rapid growth of pharmaceutical and biotechnology industry the countries, increased production of pharmaceuticals by the local pharmaceutical industry due to Covid-19, rising medical device and consumables segments are primary driving factors behind the market growth. Likewise, increasing investment in the clinical research, renovation of production lines and medical education across the region is further accelerating the market growth in the region.
The exclusive COVID 19 impact analysis report by Axiom MRC provides a 3600 analysis of micro and macro-economic factors on the central lab market. In addition, complete analysis of changes on central lab market expenditure, economic and international policies on supply and demand side. The report also studies the impact of pandemic on North America economies, international trade, business investments, GDP and marketing strategies of key players present in the market. Also, the COVID-19 pandemic has affected the North America central lab market and manufacturers on the both positive as well as negative level in the pandemic period. This is owing to the delay and suspension of the planned clinical trials during pandemic period. However, increasing focus of biopharmaceutical industry on developing therapies and vaccines in response to COVID-19 virus is likely to impact market growth on a positive level.
The study analyses North America central lab market based on product, end user and country.
Various products such as anatomic pathology/histology, biomarker services, clinical research & trial services, genetic services, microbiology services, special chemistry services, specimen management & storage, and others are covered in the global central lab market. Biomarker services segment dominated the market in 2020 and is expected to maintain its dominance during the forecast period. In addition, genetic services and microbiology services segments are accounted for second and third largest market share in 2020. Genetic services are provisions to advise and diagnose individuals with risk factors for genetic disorders. It includes genetic counselling and genetic testing. Rising number of genetic disorders across the globe is propelling the market growth.
Major end users of the global central lab market are pharmaceutical companies, biotechnology companies, and academic & research institutes. Pharmaceutical companies followed by biotechnology companies segment held the largest share of the market. Increasing adoption of trends such as data analytics, automation, and artificial intelligence (AI) to optimize production, and evolution of clinical trial process are some of the major factors that attributed to the market growth.
Country wise, the study is comprised of the key countries such as the US, Canada and Mexico. The US held the largest market share of North America central lab market and is likely to dominate the market over the estimated time frame. Well-established end-use industries across the country, the vast presence of various leading domestic and global central lab service providing companies as well as pharmaceutical and biotechnology companies, and rising production, sales and export of various drugs, medicines and clinical trials kits are some of the major factors that likely to improve the growth of central lab market in the NA region.
The major key players of market includes ACM Global Central Lab, Barc Lab (Cerba Research), Bioscientia (Sonic Healthcare), Celerion, CIRION BioPharma Research, Clinical Reference Laboratory, Eurofins Central Laboratory, Frontage Laboratories, Inc, ICON Central Labs, INTERLAB Central Lab Services, InVitro International, Lab Corp/Covance, LabConnect, PPD Inc and Q2 Solutions among others.
May 2021: Labcorp announced that it has entered into a definitive agreement to acquire intellectual property (IP) and select operating assets from Myriad Genetics’ autoimmune business unit, including the Vectra rheumatoid arthritis (RA) assay.
April 2021: Q2 Solutions and MindX Sciences Inc announced a partnership, where the company will be conducting genomics laboratory testing services for MindX Sciences blood tests.
September 2020: PPD, Inc and Lupus Therapeutics (LT) announced that they have entered into a collaboration to enhance and expand lupus clinical research for PPD’s biotech and pharmaceutical customers. In This collaboration the company can offer improved protocol and trial optimization capabilities for its customers.
January 2018: ACM Global Laboratories announced a strategic acquisition of DrugScan and DSI Medical Services to establish laboratory service portfolio and drug testing capabilities. DrugScan is a one of the best toxicology laboratory testing company, delivering advanced medication monitoring solutions to healthcare providers across the United States.
The study analyses North America central lab market based on product, end user, and country. Various products such as anatomic pathology/histology, biomarker services, clinical research & trial services, genetic services, microbiology services, special chemistry services, specimen management & storage, and others are covered in the North America central lab market. The biomarker services segment is likely to dominate the market over the forecast period. Major end users of the North America central lab market are pharmaceutical companies, biotechnology companies, and academic & research institutes. The pharmaceutical companies segment is likely to register fastest growth in years to come. Country wise, the study is comprised of the key countries such as the US, Canada and Mexico.
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