Clinical Trial Biorepository & Archiving Solutions Market (By Service: Archiving Solution, Biorepository Services; By Product: Preclinical, Clinical; By Phase: II, III) - Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook and Forecast 2023-2032

The global clinical trial biorepository & archiving solutions market was valued at USD 3.72 billion in 2022 and it is predicted to surpass around USD 8.3 billion by 2032 with a CAGR of 8.36% from 2023 to 2032.

Key Pointers

• In terms of service, the biorepository services segment dominated the industry and accounted for the largest share of 66.6% in 2022. 
• The archiving solution services segment is also expected to have significant growth over the forecast period.
• The clinical products segment dominated the global industry in 2022 and accounted for the maximum share of more than 63.27% of the overall revenue. The segment is estimated to expand further at the fastest growth rate maintaining its dominant market position throughout the forecast period. The growth of this segment can be attributed to an increase in the number of clinical trial registrations in recent years.
• The preclinical products segment is also anticipated to witness substantial growth over the forecast period. This growth can be attributed to the increasing demand for novel treatments for diseases, such as COVID-19, Zika virus, and Ebola, along with the increasing prevalence of existing diseases, such as Cardiovascular Diseases (CVDs), cancer, and neurological diseases, which is boosting research & development activities, thereby augmenting the segment growth.
• The phase III clinical trials segment dominated the global industry in 2022 and accounted for the largest share of more than 52.03% of the overall revenue. 
• The phase II segment is anticipated to register the fastest CAGR during the forecast period. This growth is due to the increasing investments in R&D by industry and non-industry sponsors.
• The North America region dominated the global industry in 2022 and accounted for the maximum share of more than 48.88% of the overall revenue. The region is projected to expand further at a significant growth rate maintaining its dominant industry position throughout the forecast period. A rise in the number of clinical trials, the presence of a large number of industry participants, and the availability of modern technology in the region are among the primary factors driving the market growth in North America.
• The Asia Pacific regional market is anticipated to register the fastest growth rate during the forecast period. The rapid expansion of the market in the Asia Pacific region can be mainly attributed to the tremendous growth in clinical research.

Report Scope of the Clinical Trial Biorepository & Archiving Solutions Market

Maintaining pace with the growing storage and transportation technology, global regulatory requirements, and current bio-storage trends can immense cost time and effort.

Smaller pharmaceutical companies avoid the costs of managing cold-chain resources, tracking and monitoring specimen & equipment temperatures, inventory control, equipment management, and other parts of repository quality management by outsourcing specimen storage and cold-chain logistics. The COVID-19 pandemic disrupted the supply chain of clinical trial biorepository and archiving solutions services due to a reduced workforce, travel restrictions, lockdowns in numerous industrial hubs, and changing regulatory rules.

The supply chain interruption also resulted in a lack of clinical trial supplies and delayed delivery of materials to clinical trial sites. These variables also led to the wastage of supplies due to distortions in material quality, further posing industry constraints. However, new models were introduced to ease the market and cope with the changing trend. One of the trends is the implementation of virtual trials and the use of advanced technology, which has been an underpinning technology but is gradually gaining popularity and is expected to witness considerable growth in the coming years.

The industry is anticipated to develop because of the rising prevalence of chronic diseases and the increasing occurrence of new diseases. The disease profiles of people around the world vary, with those in emerging nations having the widest range. Clinical studies for a novel or uncommon diseases, which ordinarily would not have obtained sponsors, are anticipated to benefit from this. An increase in the number of patients with a certain condition would encourage biopharmaceutical companies to increase their investment in clinical trials for that disease segment.

For instance, the U.S. FDA Center for Drug Evaluation and Research approved 50 New Molecular Entities (NMEs) in 2021, of which 28% (14) were biologics; in 2020, it was 53 NMEs, of which 21% (13) were biologics; and in 2019, it was 48 NMEs, of which 21% (10) were biologics. This growing trend of biologics approval will drive the industry. Biobanking is considered a key area to boost growth within these industries due to the availability of translational research and personalized treatment. Biobanks had a significant rise in the number of samples collected for biomarker and companion diagnostic research. The growing interest in biomarkers to understand and identify the biological underpinnings of disease is driving this trend.

Key Companies & Market Share Insights

Industry participants are undertaking various strategic initiatives, such as the signing of new partnership agreements, collaborations, mergers & acquisitions, and geographic expansions, to strengthen their services and gain a competitive advantage over other players. For instance, in October 2021, Azenta Life Sciences and Cleveland Clinic announced the opening of a new 22,000-square-foot biospecimen sample management and repository facility on Cleveland Clinic’s main campus. The new facility will help the Cleveland Clinic expand its biobanking capabilities and hasten translational research. Some prominent players in the global clinical trial biorepository & archiving solutions market are:

• Azenta U.S., Inc.
• Thermo Fisher Scientific Inc. (Patheon)
• Precision for Medicine, Inc.
• Medpace
• LabCorp Drug Development
• ATCC
• Q2 Solutions
• Labconnect
• Charles River Laboratories
• Cell&Co

Clinical Trial Biorepository & Archiving Solutions Market Segmentations:

By Service

• Biorepository Services
  • Warehousing & Storage
  • Transportation
  • Sample Processing
  • Others
• Archiving Solution Services
  • Database Indexing & Management
  • Scanning & Destruction

By Product

• Preclinical Products
• Clinical Products
  • Human Tissue
  • Organs
  • Stem Cells
  • Other Biospecimens

By Phase

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