Biobanking Technologies Market to 2024: Market is Set to Grow at a CAGR of 7.8%

According to the new market research report “Biobanking Market by Product and Service(Equipment, Consumables, Services, Software), Sample Type (Blood Products, Human Tissues, Cell Lines, Nucleic Acids), Application( Regenerative Medicine, Life Science, Clinical Research) – Global Forecast”, published by MarketsandMarkets™, the biobanking devices market is expected to reach USD 2.69 Billion by 2022 from USD 1.85 Billion in 2017, at a CAGR of 7.8%.Browse and in-depth TOC on “Biobanking Market”123 – Tables38 – Figures164 – PagesDownload PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=594The Factors driving the growth of this market include the increasing number of genomics research activities for studying diseases; advances in biobanking and the growing trend of conserving cord blood stem cells of newborns; government & private funding to support regenerative medicine research; and the growing need for cost-effective drug discovery and development.The equipment segment is expected to dominate the biobanking devices market.By product and service, the biobanking market is segmented into equipment, consumables, services, and software.

The equipment segment is expected to dominate the global market in 2017.

Rising number of biobanks and the increasing number of biospecimens are factors increasing the demand for biobanking equipment.Blood products are estimated to command the largest biobanking devices market share.The biobanking market is segmented by sample type into blood products, human tissues, nucleic acids, human waste products, cell lines, and biological fluids.

In 2017, the blood products segment is expected to account for the largest share of the market, by sample type.

Rising incidence of blood disorders and the increasing demand for various types of blood products across the globe are driving the growth of this segment.Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=594North America is expected to account for the largest share of the biobanking devices market.Based on region, the biobanking market is segmented into North America, Europe, Asia-Pacific, and Rest of the World (RoW).

North America is expected to dominate the market in 2017, this is attributed to factors like increasing research activities in regenerative medicine, cell and gene therapy; growing interest in personalized medicine and biomarker discovery; increasing number of biotechnology and pharmaceutical companies; and rising investments in genomics and proteomics research in the region as compared to other regions.Key players in the biobanking market include Thermo Fisher Scientific Inc. (U.S.), Tecan Group Ltd. (Switzerland), Qiagen N.V. (Germany), Hamilton Company (U.S.), Brooks Automation (U.S.), TTP Labtech Ltd (U.K.), VWR Corporation (U.S.), Promega Corporation (U.S.), Worthington Industries [(Taylor Wharton, U.S.)], Chart Industries (U.S.), Becton, Dickinson and Company (U.S.), Merck KGaA (Germany), Micronic (Netherlands), LVL Technologies GmbH & Co. KG (Germany), Panasonic Healthcare Holdings Co. Ltd (Japan), Greiner Bio One [Greiner Holding AG, Austria)], Biokryo GmbH (Germany), Biobank AS (Norway), Biorep Technologies Inc. (U.S.), Cell & Co Bioservices (France), RUCDR infinite biologics (U.S.), Modul-Bio (France), CSols Ltd (U.K.), Ziath (U.K.), and LabVantage Solutions Inc. (U.S.).Speak to Analyst: https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=59 

According to the new market research report “ Biobanking Market by Product and Service(Equipment, Consumables, Services, Software), Sample Type (Blood Products, Human Tissues, Cell Lines, Nucleic Acids), Application( Regenerative Medicine, Life Science, Clinical Research) - Global Forecast to 2022 ” ", published by MarketsandMarkets™, Biobanking Market is projected to reach  $2.69 billion by 2022 from $1.72 billion in 2016 at a CAGR of 7.8%.

Don’t miss out on business opportunities in Biobanking Market.The equipment segment is estimated to account for the largest share of the market in 2017.

This is primarily attributed to the increasing number of biobanks and rising number of biosamples around the world, due to which the demand for equipment remains high.Regenerative medicine applications for biobanking market will drive the marketBiobanking Market plays an integral role in advancing biomedical and translational research, through the collection and preservation of biological samples, such as blood, tissues, and nucleic acids, which are then made available for use in research to discover disease-relevant biomarkers; this is further used for diagnosis, prognosis, and predicting drug responses.

Growth in the number of research activities in this segment forms a major driver for the  market.

The availability of government funding for regenerative medicine, stem cell therapeutics, and cell & gene therapy is supporting research activities in this segment.

Apart from this, the increasing trend of cord blood banking will also aid growth of this market segment.

A recent study published by Fact.MR examines the growth potential of the biobanking market, and projects CAGR to be above average during the forecast period.

The Fact.MR study largely attributes the projected growth to technological advancements in manufacturing techniques, and rising demand for products in the sector.An Expert Perspective According to Fact.MR experts, the growth of Biobanking factors will remain key drivers to growth of the Biobanking market.

Additionally, the experts also believe Biobanking factors remain key concerns for end-consumers.

Request to View Sample of Report @ https://www.factmr.com/connectus/sample?flag=S_id=4438A Real Insight Fact.MR promises to ready new investors in the world of digital age with information from key stakeholders in the industry, objective forecasts, and independent analysis of a wide range of viewpoints.

The company leverages information from key stakeholders of information including World Bank, the UNO, WHO, among others to tackle challenges of investing with due diligence, and reliability.

An Apt Forecast For the Biobanking market, Fact.MR has considered 2015 as the base year for projections, while 2020-2027 period as the forecast period.

According to the report, the global biobanking market was valued at ~US$ 2 Bn in 2018 and is projected to expand at a CAGR of ~7% from 2019 to 2027.Request Brochure – https://www.transparencymarketresearch.com/sample/sample.php?flag=B_id=1568 Biobanking Market: OverviewGrowth of the global biobanking market is attributed to an increase in the demand for biobanks in genomics and biomedical research, and rising focus on precision medicine.North America dominated the global biobanking market in2018, and the trend is anticipated to continue during the forecast period.

Highly structured healthcare industry, early adoption of novel products, and presence of major players drive the biobanking market in North America.Asia Pacific is expected to be a highly lucrative market for biobanking, expanding at a higher CAGR than other regions during the forecast period.Increasing Demand for Biobanks in Genomics Research and Rise in Focus on Precision MedicineBiobanks are facilities for the collection and storage of various biospecimen, including DNA, tissues, stem cells, blood & blood products, and associated data used for biomedical research and analysis.Increase in the demand for stored tissue samples for the study of complex diseases among the biomedical community is anticipated to propel the biobanking market in the near future.

The equipment segment dominated the global biobanking market in 2018, and the trend is projected to continue during the forecast period, owing to the increasing use of equipment such as freezers, refrigerators, and thawing equipment in biobanks.

Blood products is anticipated to be the most lucrative segment, due to an increase in the incidence of blood disorders across the globe.

Request Customization on Biobanking Market Report – https://www.transparencymarketresearch.com/sample/sample.php?flag=CR_id=1568 Therapeutics Accounted for Major Share of Global Biobanking MarketBased on application, the global biobanking market has been segmented into therapeutics, clinical diagnostics, drug discovery & development, and others.The therapeutics segment dominated the global biobanking market in terms of revenue in2018, and the trend is projected to continue during the forecast period.

North America dominated the global biobanking market in2018, followed by Europe.North America accounted for a major share of the global biobanking market in 2018, owing to the increase in mergers & acquisitions, rise in the demand for biological tissue samples, and better healthcare facilities.The biobanking market in Asia Pacific is likely to expand at a high CAGR from 2019to 2027.

Factors such as the increasing prevalence of chronic diseases and rising therapeutics demand are estimated to drive the market growth during the forecast period.

However, low awareness and lack of healthcare services in the middle and low-income countries are estimated to restrain the market growth during the projected period.Request Sample Copy:https://www.marketresearchfuture.com/sample_request/5967SegmentationThe global biobanking market is segmented based on products and services, sample type, storage type, application, end-user, and region.

Considering products and services, the market is segmented into equipment, consumables, services, and software.

Services are sub-segmented into storage services, processing services, transport services, and supply services.By sample type, the market is segmented into blood products, human tissues, cell lines, nucleic acids, biological fluids, and others.

By end-user, the market is segmented into hospitals, diagnostic laboratory, research centers, and others.

Regional AnalysisThe Americas dominates the global biobanking market owing to the increasing prevalence of chronic diseases and presence of a well-developed healthcare sector within the region.