In 2023, the global clinical trial biorepository & archiving solutions market generated revenue of USD 3,985.2 million, which is expected to grow at a compound annual growth rate of 8.2% to reach USD 6,916.6 million by 2030.
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This growth of the market can be credited to the rising count of companies offering an extensive variety of services and the growing trend of outsourcing storage and other cold-chain processes so that the essential resources can concentrate more on medicinal development.
Furthermore, storage and transport techs are constantly advancing, which, combined with the l regulatory needs on bio-storage and the present trends in this space, can enormously help in saving money, time, and effort.
The clinical trial biorepository & archiving solutions industry is rising quickly because of the improvement in the obtainability of less expensive devices to compile data, for streamline reporting, using software that provides the functionality of a combined laboratory information management system made to aid in managing laboratory samples and information.
In 2023, the North American region dominated the clinical trial biorepository & archiving solutions market with the largest share of 55%, and the region is also estimated to continue with the dominance in the future. This is mainly because of the rising number of clinical trials, the presence of global market leaders, and the usage of progressive techs in the region. Furthermore, the presence of a huge count of service providers, CROs, and biopharmaceutical businesses enhances the market growth potential.
Hence, this growth of the market can be credited to the rising count of companies offering an extensive variety of services and the growing trend of the outsourcing of storage and other cold-chain processes, so that the essential resources can concentrate more on medicinal development.
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