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In order to intensify operations, 64% of the tests in the U.S. medical testing market are out-of-hospital tests, and 54% of out-of-hospital tests are outsourced by ICL (independent medical laboratories). The overall ICL market size reaches US$31.4 billion, and the concentration is very high. Labcorp and Quest are two companies. This also reflects the booming development of the cro industry from the side, which will inevitably include the growth in the number of medical device ivd cro companies. (2) Competitive landscape In terms of industry competition, international giants such as labcorp, ppd, icon, etc. are in the global cro market. Its diverse customer base includes 20 leading biopharmaceutical companies. Labcorp of America expanded its preclinical (toxicology and chemistry research) and clinical development operations through the acquisition of Covance in February 2015. .
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For more details and authoritative references, refer to the official documentation on Wikipedia.
