Global Biobanking Market
The global biobanking market is expected to grow significantly from USD 2,207.8 million in 2018 to USD 3,600.3 million in 2025, at a CAGR of 7.3% from 2019 to 2025. Factors driving the market growth are; growing scientific research and development activities, and rising prevalence of chronic diseases. Moreover, other factors contributing to the growth of market include; favorable government initiative and investments, and growth of translational research and personalized medicine.
Biobanking helps in providing key materials to many medical research realms, such as the biomarker. The development of biomarker aids in diagnosing specific disease in its early stage, including oncology and genetic diseases. Moreover, Biobanking also plays an important role in supporting many types of contemporary research such as genomics and personalized medicine. It allows researchers to access data and biological samples representing a large number of people.
Biobanking is gaining momentum owing to the growing developments in the area of metagenomics, personalized medicine, genomics, proteomics, bioenergy, environmental remediation, disease biology, and allied fields. Moreover, the growth of translational research and personalized medicine has further increased biobanking demand. Biobanking has the potential to have a positive impact on pharmaceutical, biotechnological and clinical research companies to develop new drugs and diagnostics. Healthcare researches have an enormous need for access to large quantities of biological samples for specific disorders and diseases. Additionally, rising government initiatives and investments in biobanking are further propelling the industry growth.
Due to increasing burden of chronic diseases, some countries including Mexico, China, India, and South Africa, among others have put great efforts into building their own biobanks and biobanking networks. Additionally, Biobanking in emerging countries is an important and unmet need. In these countries biobanking represent an opportunity to provide unique biospecimens to scientific and healthcare communities.
Key findings from the report:
- The global biobanking market is expected to reach USD 3,600.34 million by 2025 at a CAGR of 7.3% during 2019-2025
- Based on product and services,
- The equipment segment held the major share of the global market in 2018
- The consumables segment held the significant share of the global market in 2018
- On the basis of application,
- The regenerative medicine segment held the major share of the market in 2018
- Geographically, Asia-Pacific region is expected to witness highest CAGR during the 2019-2025
- Some of the key companies operating in the market include Cryo Bio System., BioLifeSolutions Inc.,Brooks Automation, Inc, Thermo Fisher Scientific Inc., Tecan Group Ltd., SOL Group, Hamilton Company, AUTOGEN INC., Software Point, LVL technologies GmbH & Co. KG, DNA Genotek Inc., and ASKION, among others
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The report provides the market value for the base year 2018 and a yearly forecast till 2025 in terms of revenue (USD Million). The report segments biobanking market based on product and services, sample type, storage type, application, end-user and region.
By Product and Services
- Sample Transport Equipment
- Sample Analysis Equipment
- Storage Equipment
- Sample Processing Equipment
- Analysis Consumables
- Processing Consumables
- Collection Consumables
- Storage Consumables
- Processing Services
- Storage Services
- Transport Services
By Sample Type
- Nucleic Acids
- Cell Lines
- Blood Products and Services
- Biological Fluids
- Human Tissues
By Storage Type
- Automated Storage
- Manual Storage
- Life Science Research
- Regenerative Medicine
- Clinical Research
- Research Centers
- Diagnostic Laboratories
- North America
- Central & South America
- Middle East and Africa (MEA)
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The post Increasing research and development activities driving the biobanking market; Expected to witness a CAGR of 7.3% during 2019-2025 appeared first on Energias Market Research.
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