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

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

PR Newswire

SAN FRANCISCO, Feb. 3, 2021

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.

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Key suggestions from the report:

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:

List of Key Players of DNA & RNA Banking Services 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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