Central Lab Benchmarking and Market Dynamics (3rd Ed.)

Report Overview

As the central lab service provider space continues to evolve, ISR is dedicated to staying at the forefront of market developments. To that end, ISR conducted a survey involving 129 qualified decision-makers to better understand their perspectives on industry trends, market dynamics, service provider selection criteria, and provider performance. Please note that, in this report, a "central lab" refers to a vendor that supplies specimen collection kits, logistics services, safety alerts, and a wide variety of laboratory testing services as well as providing lab reports to investigators.

This report delivers valuable insights for study sponsors as well as central lab service providers on topics such as general outsourcing trends, usage of preferred providers, and geographic distribution of central lab activities as well as predictions on trends over the next few years in the central lab services space. Recent users of central labs provided detailed performance evaluations of 19 central labs across 14 key attributes. Sponsors can use these performance assessments to evaluate current or new providers while central labs can glean insights from clients’ perspectives into both their own lab's performance and that of their competitors. Metrics on central labs’ awareness, familiarity, and reported usage can help both sponsors and central lab providers better understand the market landscape.

What you will learn:

Study Sponsors:

• Discover which attributes motivate outsourcing selection for central lab providers to help strategically and scientifically evaluate central lab bids for your business
• Assess central lab performance data to select a provider that excels in areas important to you and/or determine how your current provider is performing relative to their competition
• Understand industry trends and practices for outsourcing central lab activities
• Gather insight into how some sponsors are changing their outsourcing strategy regarding central labs due to recent challenges (e.g., geo-political conflict, Covid-19 pandemic, inflation, shipping and supply challenges, etc.)
   

Central Lab Providers:

• Gain insight into customers’ views of your performance and that of your competitors. Use the information to develop messaging around your strengths and improve on perceived weaknesses
• Learn where your company sits compared to the competition along metrics such as awareness, familiarity, and perceived leadership.
• Understand the service areas expected to grow in demand as well as geographic trends associated with central lab testing to ensure your services are aligned with market needs
• Determine the attributes and metrics critical to study sponsors in their selection of central lab providers to assess whether your lab is marketing its abilities in the areas deemed important by sponsors

Major Topics:

• Market Dynamics and Outsourcing Environment
• Service Offerings and Regional Activity
• Central Lab Service Provider Perceptions and Selection
• Service Provider Performance and Loyalty
• Central Lab Service Quality Profiles