GLOBAL CENTRAL LAB MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Market Concentration and Competitive Landscape

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Technological advancements in diagnostic equipment

Technological advancements in diagnostic equipment can drive the central lab market growth globally. Various advancements such as automation, digitization, artificial intelligence helps labs to improve their efficiency as well as offer advanced quality of services. Use of sophisticated equipment such as immunoassay analyzers, PCR machines, NGS systems have enabled quick diagnosis of wide range of diseases. This has boosted productivity and reduced turnaround time for test reports in central labs. Adoption of laboratory automation solutions by leading central labs has revolutionized their workflow. Automated solutions are assisting in sample sorting, prioritizing, processing, and reducing manual errors. For example, automated storage and retrieval systems are used to store samples and retrieve them in an organized way, thus, reducing chances of misplacement. Advanced LIMS or laboratory information management systems are integrating different automated equipment and streamlining information flow digitally within central labs and with referring hospitals or clinics. This helps labs to scale up their operations as well as offer 24/7 diagnostic services to large population.  Artificial intelligence and machine learning technologies are further elevating the quality of diagnostics. AI assistants are aiding in tasks like sample imaging, result interpretations and performing quality checks. Some central labs are deploying AI solutions to flag abnormal diagnostic patterns, detect outliers and interpret complex genomic tests better. As per UNESCO Data, over 30 global labs have already installed AI mammography systems that have increased breast cancer detection rate by 15-20% as compared to humans alone. Such advancements not only improves accuracy but allows predictive, preventive and personalized healthcare.

• ACM Global Laboratories
• Barc Lab (Cerba Research)
• Bioscientia (Sonic Healthcare)
• Celerion
• CIRION BioPharma Research
• Clinical Reference Laboratory
• Eurofins Central Laboratory
• Frontage Laboratories, Inc.
• ICON Central Laboratories
• INTERLAB Central Lab Services
• InVitro International
• Labcorp/Covance
• LabConnect
• Medpace
• MLM Medical Labs GmbH
• PPD
• Q² Solutions