Biobanking Market Research Report: By Product & Services (Equipment, Consumables, and Services), Sample Type (Blood Products), Storage Type (Manual Storage), Application (Regenerative Medicine) and End-User (Hospitals, Others) – Global Forecast till 2027
Global Biobanking Market Set to Grow at a CAGR of 7.6% during 2018 – 2023
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Market Synopsis
The biobanking market was valued at USD 950 million in 2017 and is expected to register a CAGR of 7.6% during the forecast period. The global biobanking market is majorly driven by the increasing applications in life sciences, increasing technical advanced devices, increasing demand for research activities in genomics for studying various diseases, and growing penetration by market players. Additionally, factors such as increasing government and private funding to support the regenerative medicine research are likely to boost the market growth during the forecast period.
Key Players:
Market Insights:
The global biobanking market was valued at USD 950 mn by the end of 2017 and is expected to witness a slightly above-average CAGR of 7.6% during the forecast period of 2018 to 2023. Biobanking is widely used across various research activities and is essential to the R&D process as it stores biological samples.
Biobanking has found extensive application in contemporary research in various life sciences, genomics and personalized medicines to name a few. Increasingly advanced technical devices and the increasing demand for biobanking in genomics act as strong drivers for the growth of the global market. Other drivers include the rising adoption of stem cell treatments and implementation of standards to govern biobanking procedures.
Biobanking techniques have high costs for implementation, and standardization, while ongoing is still not properly established, thus leading to restraints on market growth. However, the emergence of green technology in biobanking for energy conservation and virtual biobanks are expected to offer opportunities for market expansion. Moreover, increasing government & private funding for regenerative medicine is expected to drive market growth during the assessment period.
Market Segmentation:
The global biobanking market has been segmented on the basis of products & services, sample type, storage type, application, end-user, and region. By products & services, the market has been segmented into equipment, consumables, services, software, and others. Further sub-segmentation is as follows:
- Equipment – storage equipment, sample analysis equipment, sample processing equipment, and sample transport equipment.
- Consumables – storage consumables, analysis consumables, processing consumables, and collection consumables.
- Services – storage services, processing services, transport services, and supply services.
By sample type, the market has been segmented into blood products & services, human tissues, cell lines, nucleic acids, biological fluids, and others.
By storage type, the market has been segmented into manual storage and automated storage.
By application, the market has been segmented into regenerative medicine, life science research, and clinical research.
By end-user, the market has been segmented into hospitals, diagnostic laboratories and research centers, other.
By region, the global market has been segmented into the Americas, Europe, the Asia-Pacific and the Middle-East & Africa.
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Regional Analysis:
The Americas, are sub-segmented further into North America and South America, with North America leading market growth for the entire region. Countries such as the U.S & Canada in the North American continent have an increasing number of research activities in genomics and increasing healthcare expenditure. Moreover, the is an increasing prevalence of chronic diseases among the regions large patient population. The U.S specifically, has a large number of hospital-based biobanks and widespread awareness regarding the concept and associated technology. Meanwhile, Canada in response to an increasing demand for cost-effective drug development is expected to grow at significant pace during the assessment period while the South American continent is expected to proliferate due to the increasing adoption of advanced devices for diagnosis and the demand for effective treatment options for chronic diseases.
Europe has a significant share of the market due to the increasing emphasis on research and development activities for the improvement of diagnostic techniques and effective treatment methods. Germany & the U.K lead market growth for the region due to increasing investments in healthcare.
The Asia-Pacific market is expected to be the fastest growing regional market segment due to the increasing incidences of chronic diseases. The region is witnessing a need and demand for early diagnosis. Additionally, there is a strong demand for medical facilities equivalent to those available in developed countries. The presence of a vast patient population and the growing industrial activities in the region has increased pollution and exposure to harmful chemicals, prompting the need for effective biobanking activities in the region.
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Biobanking Market Research Report: By Product & Services (Equipment, Consumables, and Services), Sample Type (Blood Products), Storage Type (Manual Storage), Application (Regenerative Medicine) and End-User (Hospitals, Others) – Global Forecast till 2023 Overview:However, the biobanking market is also getting muddled by a lot of ethical questions owing to which the expected rise could drop a little during the forecast period.The global biobanking market is expected to rise from its previous valuation of USD 950 million in 2017 with a 7.6% CAGR during the forecast period (2018-2023).
These samples impact researches such as genomics and personalized medicine sector.
Free Report Sample At:https://www.marketresearchfuture.com/sample_request/5967 Competitive Landscape:Influential companies to impact the biobanking market are Thermo Fisher Scientific Inc., Greiner Holding AG, Hamilton Company, VWR Corporation, Tecan Trading AG, Becton Dickinson and Company, Ltd, Qiagen N.V., Merck KGaA, Brooks Automation, Inc., Chart Industries, Inc., Promega Corporation, Panasonic Healthcare Holdings Co., and others.
MRFR enlists them for their strategic developments which can help the market in the expansion.In 2019, the inauguration of the Cancer Phenome-Biobanking System and Biomonitoring Program or the Biobank facility at the Philippine General Hospital marked the development in cancer research status of the nation.
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.
Moreover, the increasing healthcare expenditure and presence of key players within the regional boundaries provide a favorable background for the market growth.Europe is the second largest in the global biobanking market.
Increasing emphasis on genetic testing is one of the significant factors influencing the market growth.The global biobanks market is expected to reach USD 80.37 Billion by 2027, according to a new report by Reports and Data.
Stem cells have the capability of discerning and regenerating various kinds of cells in the human body.
Cord blood stem cells find application in the treatment of more than 80 blood-related ailments, such as Sickle Cell Disease.
It is projected that over 27 million babies across the globe are born with some kind of blood disorder.
Constant researches are being carried out all over the world to study the usage of umbilical cord blood and tissue stem cell for the treatment of fatal diseases.Get a sample of the report @ https://www.reportsanddata.com/sample-enquiry-form/3083The report provides extensive coverage of the supply chain, key players of the industry, consumer base, company profiles, production and consumption rate, primary applications, and other relevant data.
It provides an in-depth assessment of the key companies operating in the market along with their company profiles, business overview, production and manufacturing capacity, product portfolio, financial standing, global position, and business expansion plans.
The ‘Global Bioresources Market’ Report recently published by Reports and Data provides a comprehensive examination of the critical development patterns found in the business.
The report is an exclusive document containing valuable data and information about the growth of the industry.
The report includes beneficial insights about the market dynamics, profit margins, market share, gross revenue, and other fundamental segments of the market for the forecast period of 2020-2027.
The report includes the impact of the COVID-19 pandemic on the Bioresources industry.
The report offers an in-depth analysis of the market size, market share, and market growth and its estimation through the forecast years on the basis of the COVID-19 crisis.
The report explores the present and future impact of the pandemic and provides an insight into the market scenario in the post-pandemic world.Get a sample of the report @ https://www.reportsanddata.com/sample-enquiry-form/3083The key companies operating in the Bioresources market are as follows:Becton, Dickinson, and Company, Merck KGaA, Thermo Fisher Scientific Inc., Tecan Trading AG, Panasonic Healthcare Holdings Co. Ltd., Hamilton Company, VWR Corporation, Brooks Automation Inc., Promega Corporation, and Chart Industries Inc., among others.Key Aspects of the Bioresources Market Report:Extensive Analysis of the Regional Landscape: The report extensively studies the major geographical regions for the analysis of market size, share, growth, and trends.
The Factors driving the growth of Biobanking Devices 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.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™, is expected to reach $2.69 billion, at a CAGR of 7.8%Regenerative medicine applications for biobanking market will drive the growth;Biobanking Devices 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.
Future prospects including advancements in orthopedic procedures with the use of stem cells are expected to further support market growth for regenerative medicine.Request Research Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=594Geographically; segmented into North America, Europe, Asia-Pacific, and Rest of the World (RoW).
North America is expected to dominate the biobanking 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).Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=594Market Segmentation in Detailed:The equipment segment is expected to dominate the biobanking Devices MarketBy product and service, segmented into equipment, consumables, services, and software.
KD Market Insights (KDMI) has announced the addition of a new syndicated Market research report on the Global Biobanking Equipment Market.
This research report presents comprehensive Market dynamics including growth drivers, industry trends, Market opportunities & barriers.
The Market study also presents quantitative information such as Market size, Market share, year on year growth, Market increment, compound annual growth rate (CAGR), and Market growth opportunity.The life science industry has grown at a remarkable pace over the years and is envisioned to achieve a considerable position by the end of 2025.
Further, with the ongoing advancement in the life science sector, the market for Biobanking Equipment is expected to grow at a significant rate over the upcoming years.Get Sample Report: https://www.kdmarketinsights.com/sample/6423KDMI study Biobanking Equipment Market also provides information on the competitive landscape which profiles major companies engaged in the Biobanking Equipment Market.
This Market research also throws light on factors that are believed to foster the growth of the Biobanking Equipment Market in the years ahead.
Further, in developing countries such as India, China, and other countries, the government is spending a considerable amount of money on the healthcare sector and also conducting several health programs which are anticipated to bolster the demand for the Biobanking Equipment market in the near future.Macro & microeconomic factors, Porter’s five force analysis, supply chain, and value chain analysis, and other key indicators are presented in the report in a comprehensive manner that is impacting developments in the Market.
