Biobanking 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 the growth of this market
segment. Prospects including advancements in orthopedic procedures with the use
of stem cells are expected to further support market growth for regenerative
medicine.
Worldwide
Growth Opportunities in Terms of Revenue & Segmentation:
The Biobanking Market is expected to reach $2.69 billion, Nearly at a CAGR of 7.8%.
The Global market
is segmented by product and service, sample type, storage type, application and
regions.
By product and service, the market is segmented into
equipment, consumables, services and software. The equipment segment is
expected to lead the global market. Factors such as the growth in the number of
biobanks and the number of biosamples to be stored are increasing the demand for
biobanking devices market.
By sample type, the Biobanking Market is classified into
blood products, human tissues, cell lines, nucleic acids, human waste products,
and biological fluids. Since blood and blood products are the most collected
specimens and are used as a source of DNA and RNA, this segment type holds the largest share of the biobanking devices market.
On the basis of applications, the market is segmented
into regenerative medicine, life science research, and clinical research.
Regenerative Medicine is expected to account for the largest share of the
market based on applications. Growing research in regenerative medicine and the
increasing demand for well-characterized and quality biosamples for research
are prime reasons for the growth of this market segment.
Global Geographical Analysis for Biobanking Market:
The Global market is dominated by
North America, followed by Europe. North America will continue to dominate the
global market in the forecast period. However, Asia-Pacific is expected to
witness the highest CAGR, with the growth in this market centered at Japan, China,
and India. Improving life sciences research infrastructure in emerging
economies and growing government investment in biomedical, pharmaceutical, and
biotechnology industries are some of the factors propelling market growth in
the Asia-Pacific region.
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Research Sample Pages:
The Major Factors Driving the Growth of
Biobanking Market:
·
Increase in Genomic Research Activities for
Studying Diseases
·
Advances in Biobanking and Growing Trend of
Conserving Cord Blood Stem Cells of Newborns
·
Government and Private Funding to Support
Regenerative Medicine Research
·
Growing Need for Cost-Effective Drug Discovery
and Development
Major Key Players in Global Biobanking Market:
Key players in
the market includes Hamilton Company (U.S.), Thermo Fisher Scientific Inc.
(U.S.), Brooks Automation (U.S.), and Panasonic Healthcare Holdings Co. Ltd
(Japan) have been identified as the top players in this market. These companies
have a broad product portfolio with comprehensive features and have also
launched innovative products. These leaders also have products for all end
users in this market, a strong geographical presence, and they focus on
continuous product innovations.
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