DNA & RNA Banking Services Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2020 – 2030
DNA & RNA Banking Services Market: Overview
Major advancements in medical science and technology, coupled with the increasing adoption of personalized medicine initiatives are likely to aid in expansion of the global DNA & RNA banking services market during the forecast period set between 2020 and 2030. Deoxyribonucleic acid (DNA) and ribonucleic acid (RNA) share a correlative relationship wherein the DNA stores and transfers information of the genetics whereas RNA acts as a messenger between the ribosomes and DNA and produces proteins for the body. The increasing cases of cancer worldwide have propelled the need for saving and storing DNA and RNA samples for future uses. This is likely to aid in expansion of the market for DNA and RNA banking services worldwide.
The global DNA & RNA Banking Services market is classified on the basis of specimen, service, application, end use, and region. In terms of service, the market is grouped into processing, data storage, quality control, storage, transportation, and others. Based on specimen, the market is bifurcated into buccal swabs & hair follicles, blood, and others. With respect to end use, the market is classified into hospitals & diagnostic centers, pharmaceutical & biotechnology companies, academic research, and others. Based on segmentation by application, the market for DNA & RNA Banking Services is segmented into clinical diagnostics, drug discovery & clinical research, therapeutics, and others.
The report on the global DNA & RNA Banking Services market is based on a comprehensive analysis and provides an elaborate overview of the market and its prime growth trajectories. This includes factors pushing up the growth rates of the market or creating hurdles for it. The report also emphasizes on the table of segments, and mentions the name of the dominating segment with its attributed factors. Furthermore, the report highlights the impact of the COVID19 pandemic on this market, analyzes the strategies that may turn out to be fruitful for the growth of the market in the years to follow.
DNA & RNA Banking Services Market: Competitive Landscape
Major vendors of this market are adopting various tactics to widen their presence in the overall market competition. Some players are investing heavily on research and development, of better storage options for RNA and DNA specimens and on clinical trials so as to ensure their quality and purity and to generate more revenues for their brand in order to emerge as a top leader or maintain their already existing position in the worldwide competition. Other players are indulging in joint ventures, partnerships, and similar collaborations to emerge as a strong contestant and gain a foothold in the competition.
Some of the players functioning in this global market for DNA and RNA banking services are;
DNA & RNA Banking Services Market: Trends and Opportunities
The increasing number of newly constructed and recently functioning imaging biobanks serves as the key factor aiding in expansion of the global market for DNA and RNA banking services market. In addition to this, the advancement in medical imaging and the use of computed tomography for identification and validation of non-invasive biomarkers for collecting images will also promote the growth of the market in the coming years.
DNA & RNA Banking Services Market: Regional Analysis
Geographically, the global DNA and RNA banking services marker is widespread into the regions of North America, Europe, Asia Pacific, Europe, and the Middle East and Africa. These regions are further classified on the basis of nations. Among these, North America emerged dominant and is likely to continue the same in the coming years as well, attributed to the presence of multiple biobanks. Moreover, the continuous efforts made by the government of Canada and the U.S. on storing tissue, blood, and other forms of specimens will also help the region witness significant growth.
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