Global Biobanking Market Size, Share, Industry Growth Analysis by Types, Applications and Key Players

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Industry Trends

The biobanking market was valued at USD 2.12 billion in 2020, which is anticipated to reach at USD 3.23 billion with a CAGR of 7.3% during the forecast period.

Biobanking is widely used to collect and preserve biological materials which further can be used to study about the biodiversity, diagnosis, and research. Major factors which determine the growth of this market includes the increase in genomic research activities for studying diseases, advances in bio banking and growing trend of conserving cord blood stem cells of new born, government and private funding to support regenerative medical research, growing need for cost-effective drug discovery and development.

The equipment part in particular is estimated to grow at 6.2% CAGR during the forecast period as they play an integral role in advancing biomedical and translation research through 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, which is further used in diagnosis and prognosis of the drug.

The availability of state funding for regenerative medicine, somatic cell therapeutics, and cell & gene therapy is supporting research activities during this segment. Other than this, the increasing trend of cord blood banking will also aid in growing this market segment. Future prospects including advancements in orthopaedic procedures with the utilization of stem cells are expected to further support market growth for regenerative medicine.

Increase in genomic research activities acts as a key factor that contributes toward the market growth. Furthermore, government is making many initiatives to support regenerative medicine research, which is predicted to spice up the bio banking market growth. Increase has been witnessed within the demand for cost-effective drug delivery & development, which accelerates the market growth. Advancement within the regenerative medicine is anticipated to further drive the expansion of the market. Increase in research collaboration and changes within the bio banking operations act because of the key driving forces of the world bio banking market.

However, there are some restraints in the market which limits the buyers and manufacturers to buying or producing any such machine. High cost of automation, issues related to bio specimen sample procurement are the constraints which can hamper the growth of the market. Opportunities prevailing in the market are emerging countries and growing focus on the R & D of cell therapies which will escalate the growth of the market. Apart t from this, there comes the challenge for the market such as long term sustainability of bio banks.

The global bio banks market is segmented on the premise of product and service, sample type, and by the application. In terms of the product and services, the market is categorized into consumables, software, equipment, and services. On the basis of sample type, the bio banks market are categorized into human tissues, cell lines, excrement products, blood products, nucleic acids, and biological fluids. On the premise of application, the market is fragmented into clinical research, bioscience research, and regenerative medicine.

Major market players in the bio banks market are Bristol-Myers Squibb Co., Roche Ltd., Affymetrix Inc., Abbott Laboratories Inc., Johnson and Johnson Ltd., and Teva Pharmaceuticals, among others.

Global Bio Banks Market
By Product and service
Equipment
Consumables
Services
Software

By Sample Type
Blood products
Human Tissues
Nucleic Acids
Cell lines
Biological Fluids
Human Waste Products

By Application
Regenerative Medicine
Life science Research
Clinical Research

By Geography
North America
U.S.
Canada
Europe
Germany
France
U.K.
Italy
Netherlands
Rest of Europe (RoE)
Asia-Pacific
Japan
India
China
Australia
Rest of Asia Pacific (RoAPAC)
Rest of the World (RoW)

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Table of Content

Chapter One: Executive Summary

Chapter Two: Market Introduction

Chapter Three: Research Methodology

Chapter Four: Market Dynamics

Chapter Five: Global Biobanking Market, By Type

Chapter Six: Global Biobanking Market, By Revenue Source

Chapter Seven: Global Biobanking Market, By Application

Chapter Eight: Global Biobanking Market, By Region

Chapter Nine: Competitive Landscape

Chapter Ten: Company Profiles

Chapter Eleven: Appendix

continued…

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