Biospecimen Contract Research Services Market to Record an Exponential CAGR by 2030 - Exclusive Report by InsightAce Analytic

The global Biospecimen Contract Research Services Market is estimated to exhibit a CAGR of 9.3% during the forecast period.

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Biomedical research is an ongoing process involving a wide range of experiments to study diseases and how to treat them. Biospecimens are considered important parts of this process, from developing new drugs to clinical trials and epidemiological studies. Biospecimens are tissue, blood, plasma, and urine taken from a person and can be used to diagnose and study diseases like cancer. During a biopsy, surgery, or other procedure, a small amount of the sample taken can be kept and used for research in the future. The best possible human biological samples are needed for cutting-edge translational research and improving precision medicine. Biomedical research is a process that is always changing.

It involves many experiments to learn more about diseases and how to treat them. Biospecimens are thought to be important parts of this process, from drug development to clinical trials and epidemiological studies. In precision medicine, biospecimens bridge the gap between a patient's biological traits and the creation of individualised treatment plans.

The Biospecimen Contract Research Services Market is expanding due to increased pharmaceutical R&D spending, an rise in the number of clinical studies, and the high cost of developing pharmaceuticals in-house (encouraging pharma-biotech companies to outsource). Market participants should anticipate a wide range of growth possibilities, including an expanding medicines and biologics market despite the COVID-19 pandemic, rising end-user demand for specialised testing services, and a need for novel clinical trial designs for complicated cell and gene therapies. Service agreements will drive market expansion, which an acquisition or merger will follow. Adopting new technologies and procedures is delayed by a shortage of competent workers, which impedes market expansion.

The challenges for biospecimen contract research service providers are getting samples from many different places around the world, keeping samples safe and secure in biorepositories, and managing samples in a timely manner. Also, lack of investments & management regarding biospecimen research, and high cost of storage in developing countries will hamper the market growth.

North America has the largest share of the market for contract research services that use biospecimens. The main reasons North America is the leader in this industry are the fast growth of this market, the increasing focus of pharmaceutical and biopharmaceutical companies on outsourcing, and the rise in the number of clinical trials in North America.

List of significant Players in the Biospecimen Contract Research Services Market:
• BioIVT
• BioChain Institute
• Boca Biolistics
• Creative Bioarray
• Cureline
• Discovery Life Sciences
• Infinity BiologiX
• Precision for Medicine, Inc.
• PrecisionMed, Inc.
• Medicover
• National BioService
• ICON plc
• The MT Group
• Eolas Biosciences Co. Ltd
• Indivumed GmbH
• Ardent Clinical Research Services
• Capital Biosciences, Inc.
• GR BioResearch
• REPROCELL
• Trans-Hit Bio (Azenta US, Inc.)
• iSpecimen

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Recent Developments:
• In May 2022, Discovery Life SciencesTM bought Gentest® from Corning Incorporated's Life Sciences division. Discovery's merger improves its biospecimen medicine and biomarker discovery capabilities. Due to a unique innovation engine, customers can navigate their drug development programmes more efficiently and save time and money.
• In Apr 2022, Tennessee Blood Services was recently purchased by a commercial blood bank named BioIVT, which had just finished the acquisition process. Because of the transaction, BioIVT now has a larger pool of donors, and the company is better able to supply fresh whole blood, plasma, serum, and red blood cells to manufacture pharmaceuticals and diagnostics.
• In Mar 2021, Scientist.com and Cureline partnered to enhance researchers' access to human biospecimens and streamline the collection procedure. Due to the direct connection between the marketplace on Scientist.com and the newly opened online webstore by Cureline, buyers now have rapid access to a vast selection of certified human biospecimens.

Segmentation of 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
By Therapeutic Area
• Oncological Disorders
• Neurological Disorders
• Cardiovascular Disorders
• Other Therapeutic Areas
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• Southeast Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa

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