Central Lab Services/Clinical Trial Lab Services Market: Growth, Size, Share, and Trends

This study involved the extensive use of both primary and secondary sources. The research process involved the study of various factors affecting the industry to identify the segmentation types, industry trends, key players, competitive landscape, fundamental market dynamics, and key player strategies.

Secondary Research

The secondary research process involves the widespread use of secondary sources, directories, databases (such as Bloomberg Businessweek, Factiva, and D&B Hoovers), white papers, annual reports, investor presentations, SEC filings of companies and publications from government sources [such as National Institutes of Health (NIH), US FDA, US Census Bureau, World Health Organization (WHO), , Global Burden of Disease Study, and Centers for Medicare and Medicaid Services (CMS) were referred to identify and collect information for the global vaccine storage equipment market study. It was also used to obtain important information about the key players and market classification & segmentation according to industry trends to the bottom-most level and key developments related to market and technology perspectives. A database of the key industry leaders was also prepared using secondary research.

Primary Research

In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include industry experts such as CEOs, vice presidents, marketing and sales directors, technology & innovation directors, and related key executives from various key companies and organizations in central lab services/clinical trial lab services market. The primary sources from the demand side include pharmaceutical companies, biotechnology companies, CROs, pharmacies, medical device companies, and research academics and universities. Primary research was conducted to validate the market segmentation, identify key players in the market, and gather insights on key industry trends & key market dynamics.

A breakdown of the primary respondents is provided below:

*C-level primaries include CEOs, CFOs, COOs, and VPs.

*Others include sales managers, marketing managers, business development managers, product managers, distributors, and suppliers.

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.

Source: MarketsandMarkets Analysis

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

For the global market value, annual revenues were calculated based on the revenue mapping of major product manufacturers and OEMs active in the global central lab services/clinical trial lab services market. All the major service providers were identified at the global and/or country/regional level. Revenue mapping for the respective business segments/sub-segments was done for the major players. Also, the global Central lab services/clinical trial lab services market was split into various segments and sub-segments based on:

• List of major players operating in the products market at the regional and/or country level
• Product mapping of central lab services/clinical trial lab service providers at the regional and/or country level
• Mapping of annual revenue generated by listed major players from central lab services/clinical trial lab services (or the nearest reported business unit/product category)
• Extrapolation of the revenue mapping of the listed major players to derive the global market value of the respective segments/subsegments
• Summation of the market value of all segments/subsegments to arrive at the global central lab services/clinical trial lab services market

The above-mentioned data was consolidated and added with detailed inputs and analysis from MarketsandMarkets and presented in this report.

Market Size Estimation (Bottom Up approach &Top down approach)

Data Triangulation

After arriving at the overall size of the global central lab services/clinical trial lab services market through the above-mentioned methodology, this market was split into several segments and subsegments. The data triangulation and market breakdown procedures were employed, wherever applicable, to complete the overall market engineering process and arrive at the exact market value data for the key segments and subsegments. The extrapolated market data was triangulated by studying various macro indicators and regional trends from both demand- and supply-side participants.