Central Lab Market Size Projected to Rise Lucratively during 2020-2030

Healtcareresearch30 Nov, 2021Health

According to the report, the global central lab market was valued over US$ 2.4 Bn in 2019 and is projected to expand at a CAGR of ~6% from 2020 to 2030. Central labs are designed to provide services for supporting clinical trials for upcoming drugs, genetic testing services for various genetic diseases such as Parkinson?s, Alzheimer?s, sickle cell anemia, and microbiology testing services such as testing the kinetics and growth of different microbes. Increase in number of diseases, advancements in new therapies & drugs, and large number of research grants, proposals, and funding to develop new testing procedures by governments are factors that drive global central lab market. However, central lab logistics problems such as fluctuation in temperature of samples, stability problems such as purity, contamination, and stringent & complex government regulations are projected to hamper the growth of the global central lab market.