In 2024, the global market for clinical trial biorepository and archiving solutions reached a revenue of USD 4.3 billion and is projected to grow at a CAGR of 8.2%, aiming to hit USD 6.9 billion by the decade’s end.
This growth is driven by an increasing number of companies providing diverse services and the rising trend of outsourcing storage and cold-chain operations, allowing critical resources to focus more on drug development. Advances in storage and transport technologies, alongside stringent regulatory requirements and industry trends, are also contributing to significant cost, time, and effort savings.
The sector is expanding rapidly due to the availability of affordable devices that facilitate data organization and the use of advanced software with integrated Laboratory Information Management Systems (LIMS), designed to manage lab samples and data efficiently.
Complex data generated during trials necessitates effective data handling and biorepository procedures, highlighting the growing need for archiving solutions providers. These systems offer comprehensive management, including sample lifecycle tracking, stability studies, and secure data archival, in addition to scheduling, inventory management, storage, logistics, and analytical workflows.
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Key Insights:
- Stem cells dominated revenue in 2023 with a 40% share, expected to remain prominent due to their potential in cell and gene therapy.
- Optimizing culturing, cryostorage, and monitoring systems is vital for the clinical use of stem cells.
- Recent breakthroughs suggest stem cell therapies may treat heart diseases and potentially other challenging conditions.
- Human tissue research is expected to grow the fastest due to increasing trials and studies focusing on this area.
- Human tissue use in biomedical research is expanding to develop new biologics for disease management.
- Phase III trials contributed the largest revenue share in 2023 at 45%, due to extensive specimen use and long-term research.
- Phase II trials are set to grow the most rapidly, driven by substantial patient participation and numerous ongoing studies.
- North America led in revenue with a 55% share in 2023, thanks to a high number of clinical trials and the presence of key market players.
- The U.S. leads North America’s market due to high healthcare spending and numerous Contract Research Organizations (CROs).
- Canada also significantly contributes to North America's market dominance with its expanding pharmaceutical sector and reliance on outsourcing.
- The demand for data management tools, fueled by numerous clinical trials, is a major industry driver.
- Increased medicinal and biopharmaceutical research in North America supports market growth.
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