DNA & RNA Banking Services Market To Reach $10.92 Billion By 2030

DNA & RNA Banking Services Market Growth & Trends

The global DNA & RNA banking services market size is expected to reach USD 10.92 billion by 2030, registering a CAGR of 5.5% from 2024 to 2030, according to a new report by Grand View Research, Inc. 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.

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. 

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DNA & RNA Banking Services Market Report Highlights

• By service type, storage services accounted for the largest revenue share in 2023 owing to the presence of numerous key providers in the market space. The advent of automated sample storage systems and automated liquid handlers to manage large sample volume, and reduce the amount of time required to process, store, and distribute samples further drives the segment

• Based on specimen type, the blood segment dominated the market in 2023 owing to fast and quick procedures of collecting blood, minimal risk of contamination, and visibility of blood samples

• In terms of application, the drug discovery and clinical research segment held the largest share in 2023. Biobanking services are utilized to accelerate the discovery of new therapeutics and offer resources for future investigations to better understand the effects of environmental, genetic, and lifestyle factors on human health, morbidity, and mortality. This factor led to the maximum revenue share of the segment

• On the basis of end use, the hospitals and diagnostic centers segment is projected to witness the fastest growth throughout the forecast period owing to the efforts undertaken by government bodies and biobanks to broaden the accessibility for DNA and RNA samples in the hospitals and diagnostic centers for COVID-19 diagnosis

• North America accounted for the largest revenue share in 2023. One of the major factors positively accelerating market growth is the initiation of national precision-medicine initiatives, such as the “All of Us” biobank in the U.S.

DNA & RNA Banking Services Market Segmentation

Grand View Research has segmented the global DNA & RNA banking services market based on service, specimen, application, end use, and region:

DNA & RNA Banking Services Service Outlook (Revenue, USD Million, 2018 - 2030)

• Transportation Service

• Processing Service

• Storage Service

• Quality Control Service

• Data Storage

• Others

DNA & RNA Banking Services Specimen Outlook (Revenue, USD Million, 2018 - 2030)

• Blood

• Buccal Swabs & Hair Follicles

• Others

DNA & RNA Banking Services Application Outlook (Revenue, USD Million, 2018 - 2030)

• Therapeutics

• Drug Discovery & Clinical Research

• Clinical Diagnostics

• Other Applications

DNA & RNA Banking Services End Use Outlook (Revenue, USD Million, 2018 - 2030)

• Academic Research

• Pharmaceutical & Biotechnology Companies

• Hospitals & Diagnostic Centers

• Others

DNA & RNA Banking Services Regional Outlook (Revenue, USD Million, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • France

  • Italy

  • Spain

  • Denmark

  • Sweden

  • Norway

• Asia Pacific

  • China

  • Japan

  • India

  • South Korea

  • Australia

  • Thailand

• Latin America

  • Brazil

  • Argentina

• Middle East and Africa (MEA)

  • South Africa

  • UAE

  • South Africa

  • Kuwait

List Of Key Players DNA & RNA Banking Services Market

• EasyDNA

• DNA Genotek Inc.

• 23andMe, Inc.

• GoodCell

• ProteoGenex

• US Biolab Corporation, Inc.

• Infinity Biologix

• Thermo Fisher Scientific, Inc.

• deCODE genetics

• Brooks Life Sciences

• LGC Biosearch Technologies

• PreventionGenetics