Latest Study on “DNA & RNA Banking Services Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2022-2030”.
Latest Study on “DNA & RNA Banking Services Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2022-2030”.
The global DNA & RNA Banking Services market size is expected to be worth around US$ 14.83 billion by 2030, according to a new report by Nova one advisor.
The global DNA & RNA Banking Services market size was valued at US$ 7.19 billion in 2021 and is anticipated to grow at a CAGR of 6.46% during forecast period 2022 to 2030.
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Biobanking approaches have been identified as key areas in accelerating the discovery and development of new therapeutic interventions, especially in oncology. This multidisciplinary approach is applied in all aspects of disease prediction, prevention, therapy monitoring, drug discoveries, and optimization. Therefore, a rise in cancer cases globally is expected to drive the demand for DNA and RNA banking services for cancer research. Cancer is the second most common cause of death in the U.S. after heart disease. According to the American Cancer Society estimates, more than 1.8 million new cancer cases were identified by the end of 2020 in the U.S. In addition, approximately 606,520 Americans were estimated to die in 2020 due to cancer. This high prevalence rate of cancer subsequently increases the demand for cancer research, which further accelerates the usage of DNA and RNA banking services.
Biospecimens such as DNA and RNA are critical for biomarker discovery, thereby providing a path for the expansion of personalized medicine. Moreover, progress in translational and clinical research through an introduction of advanced, standardized cell isolation methodologies reduces hands-on-time. The development of automated solutions and the transformation of biobanks into fully automated biobanks potentially accelerate the growth of the market.
A rise in the enrollment of individuals for personalized medicine initiatives drives the revenue generation for DNA and RNA banking services. In July 2019, Partners HealthCare, U.S. enrolled more than 100,000 individuals in its precision medicine biobank that supported clinicians and researchers of the Brigham and Women’s Hospital, U.S., and other partners. Such initiative assisted in examining the impact of several factors on disease and health.
The distribution network is continuously becoming complex, with pharmaceutical firms facing new challenges related to sustainability initiatives, regulatory adherence, and competing priorities cost pressures. The efforts undertaken by the key players to invest in the cold chain storage and expansion of distribution capability in various geographies have increased the capability to handle large quantities of complex cold chain biologics. Key companies such as EasyDNA, DNA Genotek, 23andMe, GoodCell, ProteoGenex., and US Biolab have adopted several strategic alliances to reinforce their market presence.
Report Scope of the DNA & RNA Banking Services Market
|
Report Coverage |
Details |
|
Market Size |
US$ 14.83 Billion by 2030 |
|
Growth Rate |
CAGR of 6.46% from 2022 to 2030 |
|
Largest Market |
North America |
|
Fastest Growing Market |
Asia Pacific |
|
Base Year |
2021 |
|
Forecast Period |
2022 to 2030 |
|
Segments Covered |
Service type, specimen type, application, end-use and Region, |
Key Takeaways:
- By service type, storage services accounted for the largest revenue share in 2021 owing to the presence of numerous key providers in the market space. The advent of automated sample storage systems and automated liquid handlers to manage large sample volume, and reduce the amount of time required to process, store, and distribute samples further drives the segment
- Based on specimen type, the blood segment dominated the market in 2021 owing to fast and quick procedures of collecting blood, minimal risk of contamination, and visibility of blood samples
- In terms of application, the drug discovery and clinical research segment held the largest share in 2021. Biobanking services are utilized to accelerate the discovery of new therapeutics and offer resources for future investigations to better understand the effects of environmental, genetic, and lifestyle factors on human health, morbidity, and mortality. This factor led to the maximum revenue share of the segment
- On the basis of end use, the hospitals and diagnostic centers segment is projected to witness the fastest growth throughout the forecast period owing to the efforts undertaken by government bodies and biobanks to broaden the accessibility for DNA and RNA samples in the hospitals and diagnostic centers for COVID-19 diagnosis
- North America accounted for the largest revenue share in 2021. One of the major factors positively accelerating market growth is the initiation of national precision-medicine initiatives, such as the “All of Us” biobank in the U.S.
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Regional Insights
North America dominated the market with a share of 33.4% in 2020. This can be attributed to the presence of several biobanks and continuous efforts undertaken in this region. The Canadian Tumor Repository Network is a non-profit biobanks consortium that is funded by the Government of Canada. The biobank participating in this consortium collects and stores blood, tissue, and saliva samples of cancer patients for several research applications.
The government of the U.S. also supports the comprehensive national biobanking program. The Cooperative Human Tissue Network Biobanks is a non-profit federal organization that is supported by the National Cancer Institute of the U.S. It provides tissues, blood, and tissue microarrays from the existing collection of specimens from cancer patients for specific research projects.
Asia Pacific is projected to register a lucrative growth rate throughout the forecast period. Several conferences and events conducted in this region regarding DNA and RNA banking approaches are among the few factors contributing to the fastest growth of the regional market. For instance, the International Conference on Advanced Biobanking and Biotechnology was hosted in September 2020 in Japan. This conference raised awareness related to DNA and RNA banking in this region.
Some of the prominent players in the DNA & RNA Banking Services Market include:
- EasyDNA
- DNA Genotek Inc.
- 23andMe, Inc.
- GoodCell
- ProteoGenex
- US Biolab Corporation, Inc.
- Infinity Biologix
- Thermo Fisher Scientific, Inc.
- deCODE genetics
- Brooks Life Sciences
- LGC Biosearch Technologies
- PreventionGenetics
Segments Covered in the Report
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Nova one advisor, Inc. has segmented the global DNA & RNA Banking Services market
- Service Type
- Transportation Service
- Processing Service
- Storage Service
- Quality Control Service
- Data Storage
- Others
- Specimen Type
- Blood
- Buccal Swabs & Hair Follicles
- Others
- Application
- Therapeutics
- Drug Discovery & Clinical Research
- Clinical Diagnostics
- Other Applications
- End-use
- Academic Research
- Pharmaceutical & Biotechnology Companies
- Hospitals & Diagnostic Centers
- Others
Regional Segmentation
- Asia-Pacific [China, Southeast Asia, India, Japan, Korea, Western Asia]
- Europe [Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey, Switzerland]
- North America [United States, Canada, Mexico]
- South America [Brazil, Argentina, Columbia, Chile, Peru]
- Middle East & Africa [GCC, North Africa, South Africa]
Objectives of the Study
- To define, describe, and forecast the DNA & RNA Banking Services market based on type, technology, application, end user, and region
- To provide detailed information regarding the major factors influencing market growth (such as drivers, restraints, opportunities, and challenges)
- To strategically analyze micromarkets with respect to individual growth trends, prospects, and contributions to the total market
- To analyze opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders
- To forecast the size of the market segments with respect to five major regions, namely, North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa
- To profile key market players and comprehensively analyze their product portfolios, market shares, and core competencies
- To track and analyze competitive developments, such as product launches, expansions, acquisitions, agreements, and collaborations in the DNA & RNA Banking Services market
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