PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1529974
PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1529974
Global clinical trial biorepository and archiving solutions market is estimated to be valued at USD 4.51 Bn in 2024 and is expected to reach USD 8.88 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 10.2% from 2024 to 2031.
Report Coverage | Report Details | ||
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Base Year: | 2023 | Market Size in 2024: | US$ 4.51 Bn |
Historical Data for: | 2019 to 2023 | Forecast Period: | 2024 to 2031 |
Forecast Period 2024 to 2031 CAGR: | 10.20% | 2031 Value Projection: | US$ 8.88 Bn |
Global clinical trial biorepository and archiving solutions market growth is driven by rising demand for efficient ways to store critical data associated with various clinical trials conducted worldwide. Biorepositories provide effective solutions for safely storing biological samples such as blood, tissues, urine, and other bodily fluids collected during clinical trials and research activities. These help in maintaining sample integrity for extended periods while ensuring compliance with stringent regulations. Moreover, archiving solutions enable organizations to securely archive vast amounts of clinical trial documents and data with minimal risk of data loss or corruption. Rising R&D investments in pharmacology and increasing complexity of clinical trials boosts the need for high-quality biorepository and archiving infrastructure.
Global clinical trial biorepository and archiving solutions market growth is primarily driven by rising adoption of innovative therapies and growing research expenditures of pharmaceutical companies. As clinical trials become more complex, there is an increasing need for reliable storage, tracking, and archiving of samples and data generated during these studies. Stringent regulatory guidelines regarding data privacy and sample preservation compel organizations to invest in advanced biorepository management solutions. However, high installation and maintenance costs of large sample storage facilities can hamper the market growth. Increasing outsourcing of biorepository services and emergence of temperature-controlled GPS asset tracking technologies offer opportunities for the market growth.
Detailed Segmentation-