InsightAce Analytic Pvt. Ltd. has broadcasted the publication of a market research report titled “ Global Biospecimen Contract Research Services Market (By Biospecimen Types(Oncological Studies, FFPE Tissue, Frozen Tissue, Plasma / Serum, Other Biospecimens, Non-Oncological Studies, Blood Products, Human Tissue, Other Biospecimens), Therapeutic Area(Oncological Disorders, Neurological Disorders, Cardiovascular Disorders, Other Therapeutic Areas))- Market Outlook and Industry Analysis 2030″
According to company’s newest research, the Global Biospecimen Contract Research Services Market is worth US$ 3.56 Billion in 2021 and is predicted to reach US$ 10.37 Billion in 2030, with a promising CAGR of 12.8% between 2022 and 2030.
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A biospecimen is a sample of material obtained from people, animals, or plants and can include, among other things, urine, blood, tissue, cells, DNA, RNA, or protein. Biospecimens can either be examined in a lab or stored in a biorepository for use in a subsequent scientific study. Biospecimens are credited as crucial elements of this process, starting with drug development and extending to clinical trials and epidemiological investigations. Biomedical research is an ever-evolving process that includes a wide range of experiments aimed at studying diseases and their treatment options. More than that, biospecimens help the field of precision medicine bridge the gap between a patient’s biological traits and the development of individualised treatment strategies. The pharmaceutical industry is increasingly looking to outsourcing bioanalytical services to take advantage of more affordable methods and overcome the current capacity restrictions.
The market for biospecimen contract research services is expanding as a result of increased pharmaceutical R&D expenditures, an increase in clinical trial activity, and the high cost of in-house drug development (encouraging pharma-biotech companies to outsource). Market participants can anticipate a variety of growth possibilities, such as a growing market for pharmaceuticals and biologics despite the COVID-19 pandemic, rising end-user demand for specialised testing services, and a need for innovative clinical trial designs for sophisticated cell and gene therapies. Service contracts will fuel market expansion, which will then result in an acquisition or merger. Lack of qualified personnel hinders the adoption of new technologies and methods, which in turn restricts market growth.
North America had a significant global share of the market for biospecimen contract research services. The key elements that contribute to North America’s leading position in this industry include the market’s rapid expansion, the increasing emphasis on outsourcing by pharmaceutical and biopharmaceutical businesses, and the rise in the number of clinical trial actions in the region.
Some of the major key players in the Biospecimen Contract Research Services market are BioIVT, Precision for Medicine, Inc., Boca Biolistics, Creative Bioarray, Cureline, Discovery Life Sciences, Infinity BiologiX, PrecisionMed, Inc., Medicover, BioChain Institute, National BioService, ICON plc, Eolas Biosciences Co. Ltd, Indivumed GmbH, The MT Group, Ardent Clinical Research Services, GR BioResearch, REPROCELL, Capital Biosciences, Inc., Trans-Hit Bio (Azenta US, Inc.) and iSpecimen.
Important updates in the market
- In May 2022, Discovery Life SciencesTM announced that they had purchased the Gentest® business unit from Corning Incorporated’s Life Sciences division. The combination of Discovery’s businesses enhances its capacity to offer scientifically supported biospecimen treatment and biomarker discovery capabilities. This has the immediate effect of allowing customers to use a unique innovation engine to navigate the challenging terrain of their drug development programmes in a way that is more time and cost effective.
- In April 2022, A commercial blood bank under the name of BioIVT recently finished acquiring Tennessee Blood Services. The agreement increases BioIVT’s donor pool and increases its ability to supply fresh whole blood, plasma, serum, and red blood cells for the creation of drugs and diagnostics.
- In Oct 2021, On the main campus of Cleveland Clinic, a new 22,000 square foot facility for the handling and storage of biospecimen samples was opened by Azenta Life Sciences and Cleveland Clinic. The Cleveland Clinic and other institutions’ ultra-cold and cryogenic storage is provided by the two-story biorepository, which is run by Brooks’ recently rebranded life sciences division, Azenta Life Sciences. The new structure will boost translational research and increase the Cleveland Clinic’s capacity for biobanking.
- In Mar 2021, In order to increase researchers’ access to human biospecimens and streamline the procedure, Scientist.com and Cureline partnered. Consumers now had rapid access to a wide range of verified human biospecimens because to the direct connection that had been built between the marketplace on Scientist.com and the new online webstore that Cureline had launched.
Global Biospecimen Contract Research Services Market, by Biospecimen Types, 2022-2030 (Value US$ Mn)
- Plasma / Serum
- Oncological Studies
- FFPE Tissue
- Frozen Tissue
- Human Tissue
- Other Biospecimens
- Non-Oncological Studies
- Blood Products
- Other Biospecimens
Global Biospecimen Contract Research Services Market, by Therapeutic Area, 2022-2030 (Value US$ Mn)
- Cardiovascular Disorders
- Oncological Disorders
- Neurological Disorders
- Other Therapeutic Areas
Global Biospecimen Contract Research Services Market, by Region, 2022-2030 (Value US$ Mn)
- North America
- Asia Pacific
- Middle East & Africa
- Latin America
North America Biospecimen Contract Research Services Market, by Country, 2022-2030 (Value US$ Mn)
Europe Biospecimen Contract Research Services Market, by Country, 2022-2030 (Value US$ Mn)
- Rest of Europe
Asia Pacific Biospecimen Contract Research Services Market, by Country, 2022-2030 (Value US$ Mn)
- South Korea
- Australia & New Zealand
Latin America Biospecimen Contract Research Services Market, by Country, 2022-2030 (Value US$ Mn)
- Rest of Latin America
Middle East & Africa Biospecimen Contract Research Services Market, by Country, 2022-2030 (Value US$ Mn)
- GCC Countries
- South Africa
- Rest of Middle East & Africa
Reasons to purchase this report
- To gain a thorough insight of the Global Biospecimen Contract Research Services Market potential
- To learn about market trends and the industry outlook for the biospecimen contract research services market
- To evaluate the drivers and challenges of the global biospecimen contract research services market.
- To learn more about the size of the global biospecimen contract research services market (in US dollars, with a forecast through 2030),
- Significant acquisitions, mergers, and investments have been made in the global biospecimen contract research services market.
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