DNA & RNA Banking Services Market Key Players, Emerging Trends and Forecast Report till 2028

Posted on 2022-10-12 by researchinsights in Healthcare // 0 Comments

San Francisco, California , USA, Oct 12, 2022 — /EPR Network/ —

DNA & RNA Banking Services Industry Overview

The global DNA and RNA banking services market size is expected to reach USD 8.83 billion by 2027, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 5.46% from 2021 to 2027. 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.

DNA & RNA Banking Services Market Segmentation

Grand View Research has segmented the global DNA and RNA banking services market on the basis of service type, specimen type, application, end-use, and region:

Based on the Type Insights, the market is segmented into Transportation Service, Processing Service, Storage Service, Quality Control Service, Data Storage and Others.

Storage service dominated the market with a revenue share of 35.9% in 2020. The acquisition of high-quality biospecimens is vital for researchers.
Quality control services are anticipated to register the fastest growth rate during the forecast period with the presence of several guidelines to improve the quality and reproducibility of DNA and RNA samples.

Based on the Specimen Type Insights, the market is segmented into Blood, Buccal Swabs & Hair Follicles and Others.

The blood segment accounted for the largest share of 39.8% in 2020 as it is the most recommended sample type for routine care applications.
Buccal swabs and hair follicle samples are anticipated to expand at a lucrative CAGR over the forecast period. The collection of biological samples from buccal swabs is among the fastest methods and it does not require medically trained personnel.

Based on the Application Insights, the market is segmented into Therapeutics, Drug Discovery & Clinical Research, Clinical Diagnostics and Other Applications.

In terms of revenue, drug discovery and clinical research accounted for the largest revenue share of 37.2% in 2020 as DNA and RNA banking services support the scientific progress in the stratification of population and biomarker

Based on the End-use Insights, the market is segmented into Academic Research, Pharmaceutical & Biotechnology Companies, Hospitals & Diagnostic Centers and Others.

The academic research segment dominated the DNA and RNA banking services market with a revenue share of 32.8% in 2020.
The hospitals and diagnostic centers segment are expected to witness the fastest growth from 2021 to 2027 with an increase in the number of patients that have consented to provide specimens for hospitals.

DNA & RNA Banking Services Regional Outlook

North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)

Key Companies Profile

Key market players have undertaken several strategic initiatives to broaden their market presence and maintain a competitive edge in the global market. In addition, these players are involved in collaboration and partnership models, product development, agreements, business expansion, and merger & acquisition policies to reinforce their product portfolio and fulfill the demand for DNA and RNA banking services.

Some prominent players in the global DNA & RNA Banking Services market include

EasyDNA
DNA Genotek Inc.
23andMe, Inc.
GoodCell
US Biolab Corporation, Inc.
Infinity Biologix
Thermo Fisher Scientific, Inc.
deCODE genetics
Brooks Life Sciences
LGC Biosearch Technologies
PreventionGenetics

Order a free sample PDF of the DNA & RNA Banking Services Market Intelligence Study, published by Grand View Research.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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