Biobanking Market by Product & Services (Equipment, Consumables, Services and Softwares), Sample Type (Blood Products & Services, Biological Fluids, Cell Lines, Human Tissues, Nucleic Acids), Storage Type (Automated, Manual), Application (Clinical Research, Life Science Research, Regenerative Medicine) – Analysis and Forecast 2019-2030
Report ID : 76 | Published Date : May 2019 | Pages : 150 | Region : Global | Report Code : BT-14
Biobanking Market Overview and Introduction
The Biobanking Market is estimated to be over US$ 1,900 Mn in 2018. It is anticipated to grow at a Sustainable CAGR from 2019 to 2030.
The biobank is a repository that holds biological samples which bear significance in the field of medicine and research. Biobank consists of biospecimens such as purified blood, plasma, saliva, DNA samples, and many others. It provides data necessary for the analysis of various aspects of diseases, which helps to treat them. Several chronic diseases such as cancer, neurological disorders, immunological disorders, can be treated with the help of biobanks.
The global biobanking market is driven by a high incidence of chronic diseases such as cardiovascular disease, Alzheimer’s disease, arthritis, and diabetes. Moreover, factors such as an increase in R& D funding, technological advancements in regenerative medicine, developments in drug discovery and increasing awareness about stem cell therapies. The increasing number of research activities used for predicting drug reactions is expected to support the growth of this market.
Biobanking Market by Product & Services
Based on the product, the market is segmented into equipment, consumables, services, and software. The equipment accounts for the highest share in the revenue owing to the increasing number of biobanks around the world, which in turn, demand more instruments for use.
Biobanking Market by Sample Type
On the basis of the sample, the biobanking market is categorized into blood products, biological fluids, cell lines, human tissue and, nucleic acids. The blood products have a major contribution in the market owing to their increasing demand in various research studies.
Biobanking Market by Storage Type
Based on the type of storage, the market is segmented into automated storage and manual storage. The manual storage is projected to account for the largest share and the automated storage is anticipated to witness the highest CAGR during the forecast period.
Biobanking Market by Application
Based upon application, the market is segmented into clinical research, life science research and regenerative medicines. Owing to the growing research in regenerative medicine and increasing demand for biosamples, regenerative medicine is estimated to account for the largest share of this market during the forecast period.
Biobanking Market by Region
The global biobanking market can be segmented into North America, Europe, Asia Pacific, and Rest of World (ROW). Currently, North America dominates the biobanking market owing to the factors such as increasing research activities, heavy investments in the field of genomics, and growing interest in biomarker discovery. Moreover, the Asia Pacific region is anticipated to propel the biobanking market during the forecast period, with a significant CAGR. Presence of a large population base in this region, especially in countries like India and China, will boost up the market. Furthermore, increasing infrastructural facilities in life sciences, as well as a rise in funds by governmental organizations in this field, is likely to drive the market in this region.
Biobanking Market Prominent Players
The key players in the global biobanking market are Thermo Fisher Scientific Inc., PHC Holdings Corporation, QIAGEN N.V., Becton, Dickinson and Company, Merck KGaA, Hamilton Company, Avantor, Inc., Tecan Group Ltd., BioCision, Promega Corporation among others.