The DNA & RNA banking services market is anticipated to reach $9.29 Billion By 2028, registering a CAGR of 5.3% from 2021 to 2028. Increasing cases of cancer subsequently rise in the activities related to cancer research is expected to drive significant growth for the market. In addition to this, a major advancement in the field of medical science and technology along with a rise in adoption for personalized medicine are supporting the overall growth of the market. Moreover, increasing investments and funding to expand the DNA and RNA banking services are expected to further augment the market growth.
In 2020, the drug discovery market segment of DNA & RNA banking services held the largest share. This high market share is attributed to research on biomarker discovery, scientific progressions in clinical research, and the rising need for drug discovery processes. These banking services support the entire therapy monitoring, disease prevention, and appropriate diagnosis with proper follow-ups.
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Key Highlights of DNA & RNA Banking Services Market:
Market participants operating in the DNA & RNA banking services industry include EasyDNA, 23andMe, Inc., GoodCell, ProteoGenex, LGC Biosearch Technologies, DNA Genotek Inc., US Biolab Corporation, Inc., Thermo Fisher Scientific, Inc., deCODE genetics, Infinity Biologix, Brooks Life Sciences, and PreventionGenetics.
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Regional Analysis :
North America led the market for DNA & RNA banking services and is anticipated to dominate the market in the coming years. An increasing number of biobanks coupled with rising efforts from the government on proper storage of blood, tissue, and other forms of specimens are contributing to the exponential growth of the market in this region. On the other hand, the regional market in the Asia Pacific is expected to exhibit rapid growth during the forecast period, on account of increasing awareness among leading stakeholders regarding the concept of bio-banking boosted by awareness programs and conferences.
Polaris Market Research has segmented the DNA & RNA banking services market report on the basis of service type, specimen type, application, end use, and region:
DNA & RNA Banking Services, Service Type Outlook (Revenue – USD Million, 2016 – 2028)
DNA & RNA Banking Services, Specimen Type Outlook (Revenue – USD Million, 2016 – 2028)
DNA & RNA Banking Services, Application Outlook (Revenue – USD Million, 2016 – 2028)
DNA & RNA Banking Services, End Use Outlook (Revenue – USD Million, 2016 – 2028)
DNA & RNA Banking Services, by Regional Outlook (Revenue – USD Million, 2016 – 2028)
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