Biobanking market – Industry Trends and Forecast to 2028

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The global Biobanking market size is estimated at 47.1 billion USD with a CAGR of 7.5% during the forecasted period from 2021-2028.
  • The global Biobanking market size is estimated at 47.1 billion USD with a CAGR of 7.5% during the forecasted period from 2021-2028.

    A biorepository that is particularly designed to store biological samples that can be used later for research activities is referred to biobanking. This can enrich the data related to different diseases and health and can further assist for drug discovery. These samples can be blood, human cells, biological fluids, and other.

    One of the major factors encouraging the growth of this market is conservation of umbilical cord of a baby since it’s the richest source of stem cells.

    The key factor driving the growth of Biobanking market is attributed to increasing prevalence of chronic diseases such as cancer, blood disorders, etc. There is rising popularity of personalized medicine along with genetic testing influencing the biobanking market.

    In addition, increase in government funding along with rise in research & development activities is fueling the market size. Also, collaborations between bio-based companies and academic institutes will amplify the growth of this market.

    Besides, the current outburst of COVID-19 pandemic is projected to boost the growth of this market and have a positive impact. Biobanks are vital to preserve superior COVID-19 specimens with an intention to assist researchers as well as for diagnostic purpose. They are also beneficial during the process of drug discovery.

    On the other hand, factors such as legal and ethical issues may constrain the growth of Biobanking market. Also, high cost associated with biobanking processes is expected to hamper the market growth.

    Biobanking Market Determinants

    The key factors driving the growth of global biobanking market are the advances in drug discovery & regenerative medicine, and rising investments from the government & non-government organizations. NIH is the major source of funding and facilitator for many Biobanks across the U.S. Moreover, rising demand for personalized medicines and the growing trend of preserving cord blood stem cells of newborns are also driving the market growth. On the other hand,, the stringent regulations regarding biospecimen sample procurement and costly techniques involved act as the major hurdles in the growth of the market. However, increasing government initiatives and rising interest of pharmaceutical & biotechnology companies in biobanking sector are expected to create huge opportunities for the growth of market in the coming years.

    Biobanking Market Segmentation

    By Product and service

    • Consumables
    • Services
    • Equipment
    • Software

    By Sample Type

    • Human Tissues
    • Nucleic Acids
    • Cell Lines
    • Blood Products
    • Biological Fluids
    • Human Waste Products

    By Application

    • Regenerative Medicine
    • Life Science Research
    • Clinical Research

    By Geography

    • North America
    o U.S.
    o Canada

    • Europe
    o France
    o Germany
    o Italy
    o Netherlands
    o U.K.
    o Rest of Europe

    • Asia-Pacific
    o China
    o Japan
    o India
    o Australia
    o Rest of Asia-Pacific

    • Rest of the World
    o Latin America
    o Middle East
    o Africa

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  • Table of Content

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  • • Promega Corporation
    • Tecan Group Ltd.
    • Qiagen N.V.
    • Hamilton Company
    • Merck KGaA
    • Brooks Automation
    • TTP Labtech Ltd
    • VWR Corporation
    • Chart Industries Inc.
    • Becton
    • Dickinson and Company
    • LVL Technologies GmbH & Co. KG
    • Greiner Bio-One
    • Biokryo GmbH
    • Biobank AS
    • Thermo Fisher Scientific Inc.
    • Biorep Technologies Inc.
    • Cell & Co Bioservices
    • RUCDR infinite biologics
    • Worthington Industries
    • Modul-Bio
    • LabVantage Solutions Inc.

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    What Information does this report contain?

    • What was the market size of the Biobanking Market in 2021 and the expected market size by 2028, along with the growth rate?
    • An in-depth analysis of the current impacting factors, opportunities and challenges/restraints in the market
    • Which are the largest revenue generating products, services or regions and their comparative growth rate?
    • Which technology is in trend and how would it evolve during the forecast period?
    • Which are the leading companies in the Biobanking Market and their competitive positioning basis their market share, product portfolio, strategic attempts and business focus?

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