DNA & RNA Banking Services Market Size, Share, Industry Analysis, Trends, Growth, Forecasts, 2032

DNA & RNA Banking Services Market Insights

According to the report published by Zion Market Research, the global DNA & RNA Banking Services Market size was valued at USD 7.20 Billion in 2023 and is predicted to reach USD 12.53 Billion by the end of 2032. The market is expected to grow with a CAGR of 5.7% during the forecast period. The report analyzes the global DNA & RNA Banking Services Market's growth drivers, restraints, and impact on demand during the forecast period. It will also help navigate and explore the arising opportunities in the DNA & RNA Banking Services industry.

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Global DNA & RNA Banking Services Market: Overview

DNA and RNA banking are a collection of genetic material for future use or biomedical research. It allows conserving genetic material as well as a comparative study of genetic information. Analysis of the DNA enables scientists to predict any risk of a genetic disorder. Such research is expected to offer new insights into the genetic component of chronic diseases, which in turn is having an approach towards personalized treatment in healthcare.

Global DNA & RNA Banking Services Market: Growth Factors

The global DNA & RNA banking services market is growing at a substantial rate. Increase in innovative treatments & technology in the healthcare sector, rise in adoption of personalized medicines for the treatment of chronic diseases, and rise in heavy investments from the big biopharmaceuticals in clinical research are some of the key factors that are spurring the growth of the global DNA & RNA banking services market.

There is a substantial rise in the prevalence of chronic diseases. As per the American Cancer Society, 1,806, 590 new cases and 606,520 deaths are estimated to occur due to cancer in the United States in 2020. In addition to this, there are approximately 7000 rare diseases. In the United States alone, it is been estimated that around 25-30 million people are living with rare diseases. 72 percent of the rare diseases are genetic. Due to a lack of scientific knowledge and quality information, there are difficulties in the diagnosis and treatment of the diseases. In such cases, DNA & RNA banking plays a vital role to overcome the huge burden of disease. Thus, most pharmaceuticals are concentrating on the development of novel drugs and undertaking drug discovery programs.

All these factors are contributing to the growth of the global market. Moreover, huge spending in R&D activities by the pharmaceuticals and major biopharmaceuticals, research institutes, and academia using biobanks for the storage of RNA & DNA is also the major factor that is contributing to the growth of the market. Furthermore, a rise in healthcare expenditure and advancement in technology is expected to boost the growth of the global DNA & RNA banking services market over the forecast period. However, debates due to the social, ethical, and legal implications for the utilization of population samples and the controversies including the issues of privacy, consent, and privacy & data sharing are the factors that may restrain the growth of the global DNA & RNA banking services market.

The Covid-19 pandemic has moderately impacted the growth of the DNA & RNA banking services market. The rapid spread of coronavirus has put the healthcare sector under immense pressure. No treatment is been identified for the cure of the disease and thus the governments across the countries are supporting biopharmaceuticals in the development of the vaccine. RNA-based technology is been used for the development of the vaccine, hence many RNA candidates were tested and stored for further research in the pandemic period which in turn fueled the growth of the market.

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Global DNA & RNA Banking Services Market: Segmentation

The global DNA & RNA banking services market is fragmented based on specimen type, service type, application, end-user, and region.

Based on the specimen type, the global DNA & RNA banking services market is divided into buccal swabs & hair follicles, blood, and others.

Based on the service type, the global market is split into processing services, transportation services, data storage, quality control service, storage service, and others.

The application segment is divided into clinical diagnostics, drug discovery & clinical research, therapeutics, and others.

Based on the end-user, the global market is classified into hospitals & diagnostic centers, pharmaceutical & biotech companies, academic research, and others.

DNA & RNA Banking Services Market: Report Scope

Global DNA & RNA Banking Services Market: Regional Analysis

Among the regions, North America is estimated to account for the maximum share in terms of revenue in the global DNA & RNA banking services market. Factors such as rise in healthcare expenditure, increase in the prevalence of chronic diseases, heavy investments in R&D, and healthcare infrastructure are boosting the growth of the market in this region. On the other hand, Asia Pacific region is expected to grow rapidly due to the rise in the adoption of personalized medicines for the treatment and growing awareness regarding the use & benefits of DNA & RNA banking.

Global DNA & RNA Banking Services Market: Competitive Players

Some of the prominent players operating in the global DNA & RNA banking services market are:

• PreventionGenetics
• deCODE genetics
• Infinity Biologix
• ProteoGenex
• 23andMe, Inc
• EasyDNA
• Thermo Fisher Scientific, Inc
• US Biolab Corporation
• GoodCell
• DNA Genotek Inc.

The Global DNA & RNA Banking Services Market is segmented as follows:

By specimen type 

• buccal swabs & hair follicles
• blood 
• and others 

By service type 

• processing services
• transportation services
• data storage
• quality control service
• storage service
• and others

By application 

• clinical diagnostics
• drug discovery & clinical research
• therapeutics
• and others

By end-user 

• hospitals & diagnostic centers
• pharmaceutical & biotech companies
• academic research
• and others

Global DNA & RNA Banking Services Market: Regional Segment Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

What Reports Provides

• Full in-depth analysis of the parent market
• Important changes in market dynamics
• Segmentation details of the market
• Former, on-going, and projected market analysis in terms of volume and value
• Assessment of niche industry developments
• Market share analysis
• Key strategies of major players
• Emerging segments and regional markets
• Testimonials to companies in order to fortify their foothold in the market.