DNA & RNA Banking Services Market Size Worth $8.83 Billion By 2027: Grand View Research, Inc.

SAN FRANCISCO, Feb. 3, 2021 /PRNewswire/ -- 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.

Key suggestions from the report:

• By service type, storage services accounted for the largest revenue share in 2020 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 2020 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 2020. 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 2020. 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.

Read 130 page research report with ToC on "DNA & RNA Banking Services Market Size, Share & Trends Analysis Report By Service Type (Storage Service, Quality Control Service), By Specimen Type, By Application, By End-use, And Segment Forecasts, 2021 - 2027" at: https://www.grandviewresearch.com/industry-analysis/dna-rna-banking-services-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.

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:

• DNA & RNA Banking Service Type Outlook (Revenue, USD Million, 2016 - 2027)
• Transportation Service
• Processing Service
• Storage Service
• Quality Control Service
• Data Storage
• Others 
• DNA & RNA Banking Services Specimen Type Outlook (Revenue, USD Million, 2016 - 2027)
• Blood
• Buccal Swabs & Hair Follicles
• Others
• DNA & RNA Banking Services Application Outlook (Revenue, USD Million, 2016 - 2027)
• Therapeutics
• Drug Discovery & Clinical Research
• Clinical Diagnostics
• Other Applications
• DNA & RNA Banking Services End-use Outlook (Revenue, USD Million, 2016 - 2027)
• Academic Research
• Pharmaceutical & Biotechnology Companies
• Hospitals & Diagnostic Centers
• Others
• DNA & RNA Banking Services Regional Outlook (Revenue, USD Million, 2016 - 2027)
• North America
• U.S.
• Canada
• Europe
• Germany
• U.K.
• France
• Italy
• Spain
• Asia Pacific
• China
• Japan
• India
• Latin America
• Brazil
• Mexico
• Middle East Africa (MEA)
• South Africa
• Saudi Arabia

List of Key Players of DNA & RNA Banking Services Market

• 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.

Find more research reports on Biotechnology Industry, by Grand View Research:

• Biobanks Market – The global biobanks market size was estimated at USD 65.9 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 6.2% from 2021 to 2028.
• Tumor Profiling Market – The global tumor profiling market size was estimated at USD 10.73 billion in 2017 and is expected to register a CAGR of 8.8% during the forecast period. Cancer tumor profiling (CTP) evaluate the metabolism, properties, and mutations in a tumor, it can aid in discovery of effective therapies.
• Cell Separation Market – The global cell separation market size was valued at over USD 3.6 billion in 2016 and is projected to grow at 18.6% over the forecast period. Increasing interest of biotechnology companies and scientists in cancer and stem cell research is a major factor boosting the growth of the market.

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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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