Clinical Trial Biorepository & Archiving Solutions Market Eyes Strong Trajectory, Aiming for US$12.2 Billion by 2032

Clinical Trial Biorepository & Archiving Solutions Market

According to a recent Future Market Insights study, the clinical trial biorepository & archiving systems market share is expected to develop at a compound annual growth rate (CAGR) of 12.1% from 2022 to 2032, from sales expected to reach US$ 3.5 billion in 2021. The market is expected to be valued US$ 12.2 billion by the end of 2032.

With the application of cutting-edge AI, machine learning, deep learning, and information technology tools and algorithms, biorepositories have ushered in a new era. Keeping up with emerging developments in bio storage, global regulatory requirements, and transportation and storage technologies takes less time and effort using these technologies. For phase III investigations, which call for a significant number of clinical trial participants, clinical trial biorepository and archiving solutions services are especially quite important. of sample preservation for extended research.

The majority of businesses are outsourcing cold-chain and storage operations to free up funds for medical research. It takes time and effort to stay up to date with emerging trends in bio storage, global regulatory requirements, and new technologies in transportation and storage.

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Amidst the COVID-19 outbreak, centralized distant location clinical testing matching and screening, virtual molecular tumor boards, and centralized molecular interpretation support systems have enabled clinic workers at the Sarah Cannon Research Institute to help identify people involved in medical trials quite productively.

Key Takeaways from the Market Study:

• Global Clinical Trial Biorepository & Archiving Solutions Market is expected to reach a market size of US$ 3.9 Billion by 2022.
• The Biorepository Services application, is expected to have the highest CAGR rate of 12.1% during the forecast period.
• United States to remain the most dominant market with absolute dollar growth opportunity of US$ 3.3 Billion during 2022 – 2032.
• The market in China is set to experience the highest CAGR of 15.8% during the 2022-2032 forecast period.

“A growing number of companies are outsourcing storage and cold-chain functions to free up resources for pharmaceutical research.” comments a Future Market Insights analyst.

Competitive Landscape:

The market is intensely competitive, and significant firms are more focused on gaining a competitive edge. To take advantage of the tremendous untapped potential in emerging nations, the market’s leading rivals are focused on providing low-cost, high-quality items. This is seen by increased research and development spending as well as an increase in the number of new product approvals.

• In Feb 2020, The College of American Pathologists created the first biorepository accreditation program, which follows strict guidelines to ensure that biorepository processes are uniform.
• In March 2020, ATCC has joined hands with the Global Scientific Community. Taking Covid19 into consideration, the collaboration sought to expand its assistance to the US and foreign R&D communities.

Key Players: 

• Brooks Life Science
• Patheon
• Precision for Medicine, Inc.
• Medpace
• LabCorp Drug Development
• ATCC
• Q2 Solutions
• Labconnect
• Charles River Laboratories
• Cell&Co BioServices

More Insights Available

Future Market Insights, in its new offering, presents an unbiased analysis of the Clinical Trial Biorepository & Archiving Solutions Market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.

The study reveals extensive growth in Clinical Trial Biorepository & Archiving Solutions Market across five regions (North America, Latin America, Europe, Asia Pacific, and the Middle East & Africa).

About the Clinical Trial Biorepository & Archiving Solutions Market analysis at Future Market Insights

Future Market Insights’ highly experienced healthcare and pharma team aids companies from all over the world with their specific business intelligence needs through professional research, actionable insights, and strategic recommendations. With a library of over a thousand research and 1 million+ data points, the team has spent over a decade analyzing the healthcare business across 50+ countries. From start to end, the company provides unrivaled research and consulting services. Please get in touch with us to see how we can help.

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Market Segments Covered in Clinical Trial Biorepository & Archiving Solutions Market Analysis

By Product Type:

• Preclinical Products
• Clinical Products

By Phase:

• Phase I
• Phase II
• Phase III
• Phase IV

By Application:

• Biorepository Services
• Archiving Solution Services

By Region:

• North America
• Latin America
• Europe
• APAC
• MEA

Author By:

Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.

Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.

Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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