The Biobanking Market is expected to reach USD 2.69 Billion by 2022, at a CAGR of 7.8%.
According to the new market research report “Biobanking Market by Product and Service(Equipment, Consumables, Services, Software), Sample Type (Blood Products, Human Tissues, Cell Lines, Nucleic Acids), Application( Regenerative Medicine, Life Science, Clinical Research) — Global Forecast to 2022” published by MarketsandMarkets™.
Factors driving the growth of this market include the increasing number of genomics research activities for studying diseases; advances in biobanking and the growing trend of conserving cord blood stem cells of newborns; government & private funding to support regenerative medicine research; and the growing need for cost-effective drug discovery and development.
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The equipment segment is expected to dominate the biobanking market.
By-product and service, the Biobanking Market have segmented into equipment, consumables, services, and software. The equipment segment is expected to dominate the global Biobanking Market in 2017. The rising number of biobanks and the increasing number of biospecimens are factors increasing the demand for biobanking equipment.
Blood products are estimated to command the largest market share in 2017
The Biobanking Market is segmented by sample type into blood products, human tissues, nucleic acids, human waste products, cell lines, and biological fluids. In 2017, the blood products segment is expected to account for the largest share of the Biobanking Market, by sample type. The rising incidence of blood disorders and the increasing demand for various types of blood products across the globe are driving the growth of this segment.
Browse and in-depth TOC on “Biobanking Market”
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Geographical Analysis for Biobanking:
North America is expected to account for the largest share of the market.
Based on region, the Biobanking Market is segmented into North America, Europe, Asia-Pacific, and Rest of the World (RoW). North America is expected to dominate the Biobanking Market in 2017, this is attributed to factors like increasing research activities in regenerative medicine, cell and gene therapy; growing interest in personalized medicine and biomarker discovery; increasing number of biotechnology and pharmaceutical companies; and rising investments in genomics and proteomics research in the region as compared to other regions.
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Key players in the Biobanking Market:
Thermo Fisher Scientific Inc. (U.S.), Tecan Group Ltd. (Switzerland), Qiagen N.V. (Germany), Hamilton Company (U.S.), Brooks Automation (U.S.), TTP Labtech Ltd (U.K.), VWR Corporation (U.S.), Promega Corporation (U.S.), Worthington Industries [(Taylor Wharton, U.S.)], Chart Industries (U.S.), Becton, Dickinson and Company (U.S.), Merck KGaA (Germany), Micronic (Netherlands), LVL Technologies GmbH & Co. KG (Germany)