Biobanking Market is Projected to Register a Healthy CAGR of 7.6% in the Forecast Period
Research Reports
Apr 12, 2022
The advances observed in genomics are predicted to enhance the progress of the biobanking market. Reports created by MRFR detail the developments in the industry that can be expected in the market through the forecast period. The Biobanking Market is estimated to show a 7.6?GR During The Forecast Period.
The availability of advanced devices and significant breakthroughs in life sciences is predicted to spur the biobanking market companies in the impending period. Furthermore, the implementation of important research in several areas is predicted to influence the assessment period’s biobanking market. The development of regenerative medicine demand is projected to enhance the biobanking market in the near future.
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Segmental Analysis
The segmental scrutiny of the biobanking market is carried out on the basis of products and services, sample type, storage type, application, end user and region. The products and services segment of the biobanking market consists of consumables, services, equipment, and software. The region segment of the biobanking market consists of Europe, the Middle East, Asia Pacific, Americas, and Africa. The sample type segment of the biobanking market consists of human tissues, cell lines, blood products, nucleic acids, and biological fluids. The biobanking market’s application segment consists of life science research, regenerative medicine, and clinical research. The end-user segment of the biobanking market consists of diagnostic laboratories, hospitals, and research centers. The storage type segment of the biobanking market consists of automated storage and manual storage.
Competitive Analysis
The investment trend in the market is projected to display a trend of mergers and acquisitions. The role of government bodies is estimated to be essential to the development of the market. The presence of online channels is predicted to enhance the market’s advancement in the upcoming years. The market is estimated to profit from the contenders’ overall contribution who are having different fortes for growth. The buoyancy in market sentiment will act as a tool for future growth. The role of innovation is estimated to become even more important for progress as the market grows. The improvement in trade and distribution policies is further anticipated to motivate the market’s development in the upcoming period. The expansion of geographical footprint is estimated to tap into undiscovered segments is likely to have a favorable effect on the market developments. The effect of novelty and effective pricing policies will help the global market return to an optimal functioning level in the forecast period.
The prominent companies in the biobanking market are Greiner Holding AG, Thermo Fisher Scientific Inc., Brooks Automation, Inc., Qiagen N.V., Promega Corporation, Merck KGaA, VWR Corporation, Tecan Trading AG, Becton Dickinson and Company, Panasonic Healthcare Holdings Co., Ltd, Hamilton Company, Chart Industries, Inc., and others.
Regional Study
The key markets for biobanking include Europe, the Americas, MEA or Middle East and Africa and Asia Pacific.
The American market for biobanking can be considered for North America as well as South America. North America is in the lead and the market size in the region is mostly bolstered by the soaring number of researches in genomics and the large-scale spending on healthcare. The consistently mushrooming patient pool afflicted by chronic ailments has made the US market the most lucrative in the region, while the presence of a massive number of hospitals-based biobanks in the country also facilitates growth. Canada can, however, garner the fastest growth rate in the coming years, thanks to the surging demand for inexpensive drug development.
The European market is thriving on the back of growing focus on intensive research and developmental activities to enhance detection and treatment techniques. The UK and Germany are in the lead and can continue to rule the European market throughout the evaluation period, primarily due to the surging spending on the healthcare sector.
Asia Pacific should soar at the fastest pace in the following years, since the region has been witnessing a dramatic surge in the cases of chronic diseases along with a rising emphasis on faster diagnosis as well as treatment of rare disorders. A few other growth rendering factors include lifestyle changes, growing impact of the western culture among the youth, and mounting number of smokers.
Reputed Firms
Brooks Automation Inc., Chart Industries, Inc., Greiner Holding AG, Becton, Dickinson and Company, Hamilton Company, Thermo Fisher Scientific Inc., Promega Corporation, Panasonic Healthcare Holdings Co. Ltd., Qiagen N.V., Tecan Trading AG, Merck KGaA, VWR Corporation are some of the key manufacturers in the biobanking industry.
Latest News
February 2021
DownSyndrome Achieves has collaborated with Cincinnati Children’s Hospital Medical Center to set up a new research biobank that will be a primary repository for all the biospecimens donated by patients suffering from Down syndrome as well as from their families. DSA Biobank is being launched for the purpose of enhancing clinical care as well as outcomes for Down syndrome-affected individuals by storing well-annotated, high-quality biospecimens that facilitate efficient clinical research.
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