DNA & RNA Banking Services Market

The DNA & RNA Banking Services Market size was valued at USD 7.12 Billion in 2023 and the total DNA & RNA Banking Services revenue is expected to grow at a CAGR of 5.4% from 2024 to 2030, reaching nearly USD 10.29 Billion.

The global DNA & RNA Banking Services Market report is a comprehensive analysis of the industry, market, and key players. The report has covered the market by demand and supply-side by segments. The global DNA & RNA Banking Services Market report also provides trends by market segments, technology, and investment with a competitive landscape.

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DNA & RNA Banking Services Market Overview:

DNA and ribonucleic acid (RNA) has a correlative relationship in which DNA stores and transmits genetic material, while RNA serves as a relay between ribosomes and DNA and generates proteins for the body. Biobanking methods, particularly in oncology, have been recognized as key areas for accelerating the discovery and creation of new therapeutic strategies. This multidisciplinary approach is used in the diagnosis, prevention, therapy control, medication discovery, and optimization of diseases. The rising number of cancer cases around the world has increased the need to save and store DNA and RNA samples for potential use.

After heart disease, cancer is the second leading cause of death in the United States. According to the American Cancer Society, more than 1.8 million new cancer patients will be diagnosed in the United States by the end of 2021. In addition, it is projected that 606,520 Americans will die from cancer in 2022. As a result of the high prevalence of cancer, there is a greater need for cancer research, which accelerates the use of DNA and RNA banking services.

DNA & RNA Banking Services Market Dynamics:

Drivers:

Biospecimens such as DNA and RNA are essential for biomarker exploration, paving the way for personalized medicine to develop. Furthermore, the advent of advanced, systematic cell isolation methodologies eliminates hands-on time in a translational and clinical study. The advancement of digital systems and the conversion of biobanks to fully automated biobanks can speed up business growth.

The sales revenue for DNA and RNA banking services is driven by an increase in the number of people enrolling in customized medicine initiatives. In July 2021, Collaborators HealthCare of the United States registered more than 100,000 people in the precision medicine biobank, which aided physicians and researchers at the Brigham and Women's Hospital of the United States and other partners. Such effort aided in the investigation of the effects of a variety of causes on illness and wellbeing.

Every year, hundreds of people participate in studies for infectious diseases and immunization that are conducted by DNA and RNA biobanks. This opens up a lot of possibilities for storing DNA and RNA samples for possible immunology, infectious disease, and immunization testing. Shortly, funding and investment schemes to extend DNA and RNA banking methods internationally are likely to fuel industry demand. For example, 54gene, a Nigerian start-up raised USD 4.5 million in seed funding for the creation of the Pan-African Biobank in July 2021. The organization aimed to collect 40,000 samples in the first quarter of 2021, to collect about 200,000 samples by the end of the year. This widened the range of banking services available in developing countries.

DNA & RNA Banking Services Market Segment Analysis:

Based on Service Type, the Storage Service anticipated the highest growth with a sales share of 35.9% in 2023. For researchers, obtaining high-quality biospecimens is important. The effectiveness of biobanks depends on the long-term stability and storage of DNA and RNA. It's important to keep biological samples in temperature-controlled environments like -196°C, -80°C, -20°C, 2.0°C-8.0°C, and 15.0°C-25.0°C. Systems from SPT Labtech, such as the comPOUND and arktic, can be calibrated for atmospheric, -20°C and 4°C storage, and -80°C solutions, respectively. These systems can handle a wide variety of 2D barcoded sample tubes with storage capacities ranging from a few microliters to 1.2 mL. As a result, the presence of ambient DNA and RNA storage solutions has a positive effect on segment development.

Based on Specimen Type, the blood section, which is the most recommended sample form for routine treatment applications, accounted for the largest share of 39.8% in 2023. For non-invasive biomarker-based cancer research, it has proved to be the most common specimen form. Furthermore, the time spent gathering blood samples has little effect on the yield of DNA and RNA. Blood sampling is a standard clinical procedure that involves certified expertise, venipuncture, and special collection tubing. The patient is not burdened by the processing of an extra specimen for preservation in biobanks, making blood collection very simple. Furthermore, for cell-free DNA, hormone, and protein, serum and plasma are normally favored over whole blood because the extracted cellular fraction does not interact with the results.

Based on the Application, Drug exploration and clinical development accounted for 37.2 percent of sales in 2023, like DNA and RNA banking services aid scientific advances in population stratification and biomarker discovery. These programs are critical in the development of novel drugs and the conduct of clinical trials. It aids in the patient prevention and prediction, therapy tracking, follow-up, and therapy optimization processes. The demand for drug exploration and clinical testing has been boosted by the paradigm shift toward personalized medicine. Proteomics, metabolomics, and epigenomics are three areas of personalized medicine that include the use of DNA and RNA samples for research into new disease therapies.

Based on the End User, the academic research segment dominated the DNA and RNA banking services industry with a sales share of 32.8 percent in 2023. Translational researchers at academic universities and laboratories understand the importance of DNA and RNA biobanks. The largest market share of the category can be due to the changing trend toward precision treatment, customized treatments, and the advantages provided by biomarkers. Understanding the discrepancies between medical procedures and human responses is a focus of academic and research centers. The Colorado Center for Personalized Medicine (CCPM), which works in the area of personalized medicine, is one such research institute. This facility also serves as a biobank, collecting, processing, storing, and testing biological samples. Medical genetic studies aid in the diagnosis of drugs, the identification of disease carriers, and the risk of such disorders.

DNA & RNA Banking Services Market Regional Insights:

In 2023, North America led the industry with a 33.4 percent share. This can be due to the existence of many biobanks as well as ongoing activities in the region. The Canadian Tumor Repository Network (CTRN) is a non-profit biobanks consortium supported by the Canadian government. This consortium's biobank gathers and preserves cancer patients' blood, bone, and saliva samples for a variety of scientific purposes.

The US government also backs a wide national biobanking initiative. The National Cancer Institute of the United States funds the Cooperative Human Tissue Network Biobanks, which is a non-profit federal agency. It provides cancer patients with organs, blood, and tissue microarrays from an existing inventory of specimens.

Throughout the forecast era, Asia Pacific is expected to rise at a healthy pace. Several conferences and events on DNA and RNA banking approaches held in this area are among the few factors leading to the regional market's fastest expansion. For example, Japan will host the International Conference on Advanced Biobanking and Biotechnology in September 2021. This conference raised awareness in the area of DNA and RNA banking.

The objective of the report is to present a comprehensive analysis of the global DNA & RNA Banking Services Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the global DNA & RNA Banking Services Market dynamics, structure by analyzing the market segments and project the global DNA & RNA Banking Services Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global DNA & RNA Banking Services Market make the report investor’s guide.

DNA & RNA Banking Services Market Key Developments:

In January 2023, Brooks Life Sciences has extended its facilities to improve its sample storage and biobanking capabilities. With a greater volume of samples collected, research institutes and pharmaceutical firms were able to speed up clinical trials and the advancement of effective drugs.

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DNA & RNA Banking Services Market, by Region

North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)

DNA & RNA Banking Services Market, Key Players

1. Easy DNA
2. DNA Genotek, Inc.
3. 23andMe, Inc.
4. Good Cell
5. Proto Genex
6. Infinity Biologix
7. Thermo Fisher Scientific, Inc.
8. deCODE Genetics
9. Brooks Life Sciences
10. LGC Biosearch Technologies
11. Prevention Genetics
12. Other Key Players

Frequently Asked Questions:

1. Which region has the largest share in Global DNA & RNA Banking Services Market?
Ans: North America region held the highest share in 2023.

2. What was the Global Light Engine Market size in 2023?
Ans: The Global DNA & RNA Banking Services Market size was USD 7.12 Billion in 2023.

3. What is scope of the Global DNA & RNA Banking Services market report?
Ans: Global DNA & RNA Banking Services Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.

4. Who are the key players in Global DNA & RNA Banking Services market?
Ans: The important key players in the Global DNA & RNA Banking Services Market are – Easy DNA, DNA Genotek, Inc., 23andMe, Inc., Good Cell, Proto Genex, Infinity Biologix, Thermo Fisher Scientific, Inc., deCODE Genetics, Brooks Life Sciences, LGC Biosearch Technologies, Prevention Genetics, and Other Key Players.

5. What is the study period of this market?
Ans: The Global DNA & RNA Banking Services Market is studied from 2023 to 2030.