Biospecimen Contract Research Services Market | Size, Share and Scope Analysis to 2031

InsightAce Analytic Pvt. Ltd. has announced 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 2031"

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According to company's newest research, the Global Biospecimen Contract Research Services Market is predicted to record a promising CAGR of 9.3% between 2023 and 2031.

A biospecimen is a sample of material taken from humans, animals, or plants and may consist of urine, blood, tissue, cells, DNA, RNA, or protein, among other things. Biospecimens can either be put through an examination in a laboratory or kept in a biorepository for later use in a scientific investigation. Biomedical research is an ever-evolving process that includes a wide range of experiments to study diseases and their therapy options; biospecimens are credited as critical components of this process, beginning with drug development and extending to clinical trials and epidemiological studies inquiries. More than that, biospecimens bridge the gap between a patient's biological characteristics and the creation of individualised treatment plans in the field of precision medicine. In order to take benefit of more cost-effective procedures and get over the current capacity limits, the pharmaceutical sector is increasingly turning to outsourcing bioanalytical services.

The Biospecimen Contract Research Services Market is growing as a result of rising pharmaceutical R&D spending, an increase in the number of clinical trials, and the expensive cost of developing drugs in-house (encouraging pharma-biotech companies to outsource). Market participants can look forward to a wide range of growth opportunities, including an expanding drugs and biologics market despite the COVID-19 pandemic, growing demand for specialised testing services among end-users, and a requirement for novel clinical trial designs for complex cell and gene therapies. The market expansion will be fueled by service agreements, after which acquisition or merger will take place. Adopting new technologies and methods is hampered by a lack of qualified personnel impedes market expansion.

The market for biospecimen contract research services was led by North America, which had a dominant share worldwide. The rapid growth of this market, the growing emphasis on outsourcing by pharmaceutical and biopharmaceutical companies, and the rise in the number of clinical trial activities in North America are the primary factors that contribute to the region's dominant position in this industry.

Some of the primary key players in the Biospecimen Contract Research Services market are BioChain Institute, BioIVT, 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.) and iSpecimen.

Key Developments in the market
• In May 2022, Discovery Life SciencesTM announced that they had acquired the Gentest® business unit from the Life Sciences division of Corning Incorporated. The merging of Discovery's companies increases the company's ability to provide scientifically-based biospecimen medication and biomarker development capabilities. As a direct consequence of this, customers are able to negotiate the complex terrain of their drug development programmes in a manner that is both more time and money efficient as a result of a one-of-a-kind innovation engine.
• In Apr 2022, A commercial blood bank known as BioIVT recently completed the acquisition of Tennessee Blood Services. As a result of the deal, BioIVT's donor base is expanded, and the company's capacity to offer fresh whole blood, plasma, serum, and red blood cells for the development of pharmaceuticals and diagnostics is increased.
• In Oct 2021, Azenta Life Sciences and Cleveland Clinic launched a new 22,000-square-foot facility for the handling and storage of biospecimen samples on the main campus of Cleveland Clinic. The two-story biorepository, which features ultra-cold and cryogenic storage for the Cleveland Clinic and other institutions, is operated by Brooks' freshly rebranded life sciences branch, Azenta Life Sciences. The new building will expand the Cleveland Clinic's biobanking capabilities and accelerate translational research.
• In Mar 2021, Scientist.com and Cureline formed a partnership to improve researchers' access to human biospecimens and make the process more efficient. Because of the direct connection that had been made between the marketplace on Scientist.com and the new online webstore that Cureline had launched, consumers now had access to a wide variety of certified human biospecimens almost immediately.

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Market Segmentation
Global Biospecimen Contract Research Services Market, by Biospecimen Types, 2023-2031 (Value US$ Mn)
• Oncological Studies
• FFPE Tissue
• Frozen Tissue
• Plasma / Serum
• Other Biospecimens
• Non-Oncological Studies
• Blood Products
• Human Tissue
• Other Biospecimens

Global Biospecimen Contract Research Services Market, by Therapeutic Area, 2023-2031 (Value US$ Mn)
• Oncological Disorders
• Neurological Disorders
• Cardiovascular Disorders
• Other Therapeutic Areas

Global Biospecimen Contract Research Services Market, by Region, 2023-2031 (Value US$ Mn)
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

North America Biospecimen Contract Research Services Market, by Country, 2023-2031 (Value US$ Mn)
• U.S.
• Canada

Europe Biospecimen Contract Research Services Market, by Country, 2023-2031 (Value US$ Mn)
• Germany
• France
• Italy
• Spain
• Russia
• Rest of Europe

Asia Pacific Biospecimen Contract Research Services Market, by Country, 2023-2031 (Value US$ Mn)
• India
• China
• Japan
• South Korea
• Australia & New Zealand

Latin America Biospecimen Contract Research Services Market, by Country, 2023-2031 (Value US$ Mn)
• Brazil
• Mexico
• Rest of Latin America

Middle East & Africa Biospecimen Contract Research Services Market, by Country, 2023-2031 (Value US$ Mn)
• GCC Countries
• South Africa
• Rest of Middle East & Africa

Why should buy this report:
 To receive a comprehensive analysis of the prospects for the global Global Biospecimen Contract Research Services Market
 To receive an industry overview and future trends of the Biospecimen Contract Research Services Market
 To analyze the Global Biospecimen Contract Research Services Market drivers and challenges
 To get information on the Global Biospecimen Contract Research Services Market size (Value US$ Mn) forecast to 2030
 Significant investments, mergers & acquisitions in the Global Biospecimen Contract Research Services Market industry

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