DNA and RNA Banking Services Market Forecasts to 2028 – Global Analysis By Specimen (Blood, Hair Follicles), Application (Therapeutics, Clinical Diagnostics), End User (Academic Research, Hospitals) and By Geography
According to Stratistics MRC, the Global DNA and RNA Banking Services Market is accounted for $6.09 billion in 2020 and is expected to reach $10.82 billion by 2028 growing at a CAGR of 7.4% during the forecast period. The major advancements in medical science and technology, coupled with the increasing adoption of personalized medicine, development of automated solutions and the transformation of biobanks into fully automated biobanks are the major factors driving the market growth. However, ethical and legal issues pertaining to banking services is restraining the market growth.
Deoxyribonucleic acid (DNA) and ribonucleic acid (RNA) share a corresponding relationship wherein the DNA stores and send out information of the genetics whereas RNA acts as a messenger between the ribosomes and DNA and produces proteins for the body. Biobanking advance have been identified as key areas in expedite the discovery and development of new therapeutic interventions, mostly in oncology. This multidisciplinary approach is pertaining in all features of disease prediction, prevention, therapy monitoring, drug discoveries, and optimization.
Based on service type, the storage service segment is estimated to have a lucrative growth owing to the presence of numerous key providers in the market space. The rise of automated sample storage systems and automated liquid handlers to manage large sample volume, and lower the amount of time required to process, store, and distribute samples further drives the segment. By geography, North America is going to have high growth during forecast period due to initiation of national precision-medicine initiatives, such as the "All of Us" biobank in the U.S.
Some of the key players profiled in the DNA and RNA Banking Services Market include 23andMe Inc, Brooks Life Sciences, deCODE genetics, DNA Genotek Inc., EasyDNA, GoodCell, Infinity Biologix, LGC Biosearch Technologies, PreventionGenetics, ProteoGenex, Thermo Fisher Scientific, Inc and US Biolab Corporation, Inc.
Estimated Market Size in 2020:
Compound Annual Growth Rate (CAGR) from 2020 to 2028:
Predicted 2028 Value:
USD 10.82 billion
Tables, Graphs & Figures
|Service Type, Specimen Type, Application, End User and Region|
Core Drivers and Opportunities:
Restraining Factors & Market Threats:
Service Types Covered:
• Storage Service
• Quality Control Service
• Transportation Service
• Processing Service
• Data Storage
Specimen Types Covered:
• Buccal Swabs & Hair Follicles
• Drug Discovery & Clinical Research
• Clinical Diagnostics
End Users Covered:
• Academic Research
• Pharmaceutical & Biotechnology Companies
• Hospitals & Diagnostic Centers
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years (2019, 2020, 2021, 2025, and 2028)
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Key Questions Answered In The Report
The Global DNA and RNA Banking Services Marketis majorly driven by advancements in medical science and technology and development of automated solutions.
The storage service segment is growing at a highest CAGR owing to the presence of numerous key providers in the market space.
Asia Pacific dominated with a significant market share due to the factors such as several conferences and events on DNA and RNA banking approaches held in this region.
North America market is growing at a highest CAGR owing to initiation of national precision-medicine initiatives in the region.
Key players in DNA and RNA Banking Services Market include 23andMe Inc, Brooks Life Sciences,deCODE genetics, DNA Genotek Inc., EasyDNA, GoodCell, Infinity Biologix, LGC Biosearch Technologies, PreventionGenetics, ProteoGenex, Thermo Fisher Scientific, Inc and US Biolab Corporation, Inc.
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