Biobanking Market Players, Analysis and Forecast to 2030 Detailed in New Research Report
The biobanking
market size was valued 72.41
Billion in 2023 and is expected to reach USD 92.69 billion by 2030 at 4.2% CAGR
during the forecast period 2023-2030.
Market
Drivers and Key Restraints
The global biobanking market is undergoing massive evolution in the form
of technological innovations in genetic tools, which help elevate the demand
for high-quality biospecimens used for enhancing cancer research. Citing a
reference, Northwell Health had partnered with Indivumed in January 2017 for
creating a cancer research biobank. In addition, the current developments in
information technology as well as automation solutions have enhanced the
efficiency of the biobanking services. For instance, with the launch of fully
automated programmed freezers as well as refrigerators, the temperature
monitoring in biobanks has become far more efficient than before.
Additionally, technological developments in biotechnology workflows have
led to a growth in the application scope of biosamples. To illustrate, UK
biobank had collaborated with GSK as well as Regeneron Genetics Center in March
2017, following which Regeneron had successfully sequenced all the 500,000
samples present in the UK biobank. These samples were highly instrumental in
clinical research.
The noteworthy changes in the biobanking operations for ensuring
optimization of sample maintenance and storage are expected to be one the
prominent factors backing the growth of the market. These changes are inclusive
of deposit and delivery of a sample in a temperature-monitored hatch along with
automated tracking of the handling of a sample. Other significant changes
include growth in funding, the increasing standardization of biobanking
processes, and availability of collections that are centralized which are
presumed to have a positive impact on the growth of the market.
Major Key
Players:
Some of Biobanking
Market Players are Hamilton Company, Greiner
Holding AG, Promega Corporation, Becton Dickinson and Company, Merck KGaA, VWR
Corporation, Tecan Trading AG, Thermo Fisher Scientific Inc., Panasonic
Healthcare Holdings Co., Ltd, Qiagen N.V., Brooks Automation, Inc., Chart
Industries, Inc., and others.
Segment Analysis
The global biobanking market is segmented on the
basis of products and services, sample type, storage type, application,
end-user, and region. Considering products and services, the market is
segmented into equipment, consumables, services, and software. Equipment is
further sub-segmented into storage equipment, sample analysis equipment, sample
processing equipment, sample transport equipment, and others. Consumables are
further sub-segmented into storage consumables, analysis consumables,
processing consumables, collection consumables, and others. Services are
sub-segmented into storage services, processing services, transport services,
and supply services.
By sample type, the market is segmented into blood
products, human tissues, cell lines, nucleic acids, biological fluids, and others. Based on storage type the market
is segmented into manual storage and automated storage.
On the basis of application, the market is segmented
into regenerative medicine, life science research, and clinical research.
By end-user, the market is segmented into hospitals,
diagnostic laboratory, research centers, and others. Based on region the market
is segmented into Americas, Europe, Asia Pacific, and the Middle East and
Africa. The American region is segmented into North America and South America.
Regional Analysis
The Americas dominates the global
biobanking market owing to the increasing prevalence of chronic diseases and
presence of a well-developed healthcare sector within the region. Moreover, the
increasing healthcare expenditure and presence of key players within the
regional boundaries provide a favorable background for the market growth.
Europe is the second largest in
the global biobanking market. Factors such as the increasing availability of
funds for research and a huge patient population followed by a well-developed
healthcare sector drive the market within the region.
Asia Pacific is estimated to be
the fastest growing market for biobanking. This can be attributed to the
presence of developing economies such as India and China. Moreover, the
increasing healthcare expenditure and a rapidly developing healthcare sector
boost the market growth within the region.
On the other hand, the Middle
East and Africa has the least share in the global biobanking market due to low
per capita healthcare expenditure and stringent government policies, especially
within the Africa region. It is estimated that the Middle East holds a majority
of the market within the Middle Eastern and African region.
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