PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1224483
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1224483
DNA & RNA Banking Services Market size was valued at USD 6,108.6 Million in 2022, expanding at a CAGR of 7.2% from 2023 to 2030.
DNA and RNA Banking is the safe, long-term storage of an individual's genetic material. DNA banks enable the storage of genetic material as well as the comparison of a person's genetic data. Scientists may use DNA analysis to predict hereditary disorders and identify individuals, which is important in preventative genetics and gene therapy.
Market Dynamics
Biospecimens like DNA and RNA are essential for the identification of biomarkers, paving the way for individualized medicine. Furthermore, powerful, systematic cell separation technologies have rendered hands-on time in translational and clinical trials obsolete. The expansion of digital technology and the conversion of biobanks to fully automated biobanks can boost business growth. The increasing number of newly established and operating imaging biobanks is a primary driving force behind the growth of the global DNA and RNA banking services market. Significant breakthroughs in clinical research and innovation, together with increased adoption of customized pharmaceutical products, are expected to help in the growth of the global DNA and RNA banking services market throughout the forecast period.
Segmental Analysis:
Based on the service, the storage service is expected to dominate the market during the forecast period. Obtaining high-quality biospecimens is critical for researchers. Long-term DNA and RNA stabilization and preservation are important for biobank performance. It is critical to preserve biological samples in temperature-controlled environments such as -196 °C, -80 °C, -20 °C, 2.0 °C-8.0 °C, and 15.0 °C-25.0 °C. SPT Labtech's comPOUND and arktic systems, for instance, may be set for ambient, -20°C and 4°C storage, and -80°C solutions, respectively. These systems are ideal for a wide range of 2D barcoded sample tubes with storage capacities ranging from a few microliters to 1.2 mL. As a result, the availability of technologies for ambient DNA and RNA preservation has a beneficial influence on segment growth.
Based on the end-use, the academic research segment is expected to dominate the market during the forecast period. Translational researchers at academic institutions and laboratories realize the importance of DNA and RNA biobanks. The segment's greatest revenue share may be ascribed to the evolving paradigm towards personalized medicine, tailored medicines, and the advantages provided by biomarkers. Academic and research institutions are working to understand the disparities between medical treatments and individual reactions.
Regional Analysis:
North America is expected to dominate the market over the forecast period. This is due to the existence of various biobanks and the ongoing efforts made in this region. The Canadian Tumor Repository Network is a non-profit biobanking consortium supported by the Canadian government. This consortium's biobank gathers and maintains blood, tissue, and saliva samples from cancer patients for a variety of research purposes. Besides, the Asia Pacific region is growing at the highest CAGR during the forecast period. Several conferences and events held in this region related DNA and RNA banking techniques are among the few reasons contributing to the regional market's rapid growth. For instance, the International Conference on Advanced Biobanking and Biotechnology will be held in Japan in September 2020. This meeting enhanced awareness in this region about DNA and RNA banking.
Recent Development:
In July 2022, the OMNIgene®*GUT DNA and RNA product (OMR-205) from OraSure Technologies, Inc., a global pioneer in point-of-care and home diagnostic testing and sample collection technologies, is now accessible to gut microbiome researchers. The solution enables the self-collection, stabilisation, preservation, and transport of microbial DNA and RNA at room temperature for gut microbiome analysis. It is manufactured by OraSure subsidiary DNA Genotek.
Key features of the study:
This proposed research study on the DNA & RNA Banking Services market provides market size (US$ Million), compound annual growth rate (CAGR %) and forecast estimation (2023-2030), considering 2022 as the base year
The research report elucidates potential growth opportunities across different segments/countries and explains an attractive investment proposition matrix for the DNA & RNA Banking Services market
The overall report identifies new investment opportunities, challenges faced by established players, and growth factors to sustain the DNA & RNA Banking Services market
The impact of COVID-19 on the DNA & RNA Banking Services market size, forecast, CAGR, and market dynamics are discussed in detail under the research scope. Detailed insight into the DNA & RNA Banking Services market post-COVID will also be covered.
To give the users of this report a comprehensive view of the DNA & RNA Banking Services market, we have also included a competitive landscape and key innovator analysis for the DNA & RNA Banking Services market.
The study encompasses a growth prospect mapping analysis, wherein all the industry segments are benchmarked based on their market size, growth rate and attractiveness.
The report offers detailed company profiling featuring major market participants which will help users to understand the financial information and strategic initiatives of players operating in the DNA & RNA Banking Services market.
In addition, the report also unveils the important acquisitions & mergers, collaborations & joint ventures, new launches, research & development, and regional expansion of major participants involved in the market on global as well as regional levels.
The global DNA & RNA Banking Services market report primarily caters to various stakeholders in this industry including suppliers, investors, new entrants, distributors, and financial analysts
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL DNA & RNA BANKING SERVICES MARKET KEY PLAYERS
DNA Genotek Inc.
EasyDNA
23andMe, Inc.
GoodCell
ProteoGenex
Infinity Biologix
US Biolab Corporation, Inc.
Thermo Fisher Scientific, Inc.
deCODE genetics
LGC Biosearch Technologies
Brooks Life Sciences
PreventionGenetics
GLOBAL DNA & RNA BANKING SERVICES MARKET, BY SERVICE
Transportation Service
Processing Service
Storage Service
Quality Control Service
Data Storage
Others
GLOBAL DNA & RNA BANKING SERVICES MARKET, BY SPECIMEN
Blood
Buccal Swabs & Hair Follicles
Others
GLOBAL DNA & RNA BANKING SERVICES MARKET, BY APPLICATION
Therapeutics
Drug Discovery & Clinical Research
Clinical Diagnostics
Others
GLOBAL DNA & RNA BANKING SERVICES MARKET, BY END-USE
Academic Research
Pharmaceutical & Biotechnology Companies
Hospitals & Diagnostic Centers
Others
GLOBAL DNA & RNA BANKING SERVICES MARKET, BY REGION
North America
The U.S.
Canada
Europe
Germany
France
Italy
Spain
United Kingdom
Russia
Netherlands
Sweden
Poland
Rest of Europe
Asia Pacific
India
China
South Korea
Japan
Australia
Thailand
Indonesia
Philippines
Rest of APAC
Latin America
Brazil
Mexico
Argentina
Colombia
Rest of LATAM
The Middle East and Africa
Saudi Arabia
United Arab Emirates
Israel
Turkey
Algeria
Egypt
Rest of MEA