According to the report by Expert Market Research (EMR), the global clinical trial biorepository and archiving solutions market size reached a value of approximately USD 3.91 billion in 2022. Aided by the rising prevalence of chronic diseases and the escalating need for effective treatment solutions, the market is projected to further grow at a CAGR of 8.99% between 2023 and 2031 to reach a value of USD 8.46 billion by 2031.
Clinical trial biorepositories and archiving solutions are crucial components of modern healthcare, acting as the backbone for research and development activities in the pharmaceutical and biotechnological sectors. They are used for the storage and management of biological samples, such as tissues, blood, and DNA, used in clinical trials. These repositories support the development and testing of new drugs and therapies, playing an essential role in the advancement of personalised medicine.
The mounting prevalence of chronic diseases globally is a significant factor propelling the clinical trial biorepository and archiving solutions market growth. With a surge in conditions like cancer, diabetes, cardiovascular diseases, and others, the demand for effective treatment options has escalated. This has necessitated robust R&D activities, leading to an increased demand for biorepository and archiving solutions.
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Moreover, the growing trend of personalised medicine is contributing to the clinical trial biorepository and archiving solutions market expansion. The approach of tailoring medical treatment to the individual characteristics, needs, and preferences of a patient requires extensive research and the use of vast arrays of biological samples. As a result, the demand for efficient storage and management solutions for these samples has risen, further driving the market growth.
The versatile application of biorepositories in various industries also significantly influences the clinical trial biorepository and archiving solutions market demand. In addition to pharmaceuticals and biotech companies, academic and research institutions extensively utilise biorepository and archiving solutions. This is primarily for purposes like genomic research, which aids in understanding diseases at a molecular level, and developing targeted therapies.
Furthermore, the advancements in technologies related to sample collection, preservation, and data management are enhancing the efficacy of biorepositories and, in turn, boosting the clinical trial biorepository and archiving solutions market development. Automation has significantly improved the storage and retrieval of samples, ensuring optimal utilisation of resources and minimising human error.
Additionally, the increasing focus on genetic research and the rising popularity of stem cell therapies have led to an amplified demand for biorepositories, propelling the clinical trial biorepository and archiving solutions market growth. Both these fields require an extensive collection and storage of biological samples, underlining the importance of efficient biorepository and archiving solutions.
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Market Segmentation
The market can be divided based on products, phase, services, and region.
Market Breakup by Products
- Preclinical Products
- Clinical Products
Market Breakup by Phase
- Phase I
- Phase II
- Phase III
- Phase IV
Market Breakup by Services
- Biorepository Services
- Archiving Services
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global clinical trial biorepository and archiving solutions companies. Some of the major key players explored in the report by Expert Market Research are as follows:
- Azenta U.S., Inc.
- Thermo Fisher Scientific Inc. (Patheon)
- Precision for Medicine, Inc.
- Medpace
- ATCC
- Q2 Solutions
- Labconnect
- Charles River Laboratories
- Cell&Co
- LabCorp Drug Development
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