What is Biobanking Market?
The global biobanking market was valued at around 35 billion US dollars in 2019 and it is estimated to reach 50 billion US dollars by 2025. Artificial Intelligence (AI)-driven process automation, robotics, data analytics, the internet, and other rapidly emerging technological advances are driving the global biobanking market. Biobanking refers to the process by which samples of bodily fluid or tissue(usually human) are collected for research purposes to improve our understanding of health and disease.
The market study is being classified by Type (Equipment, Consumables, Services and Software), by Application (Regenerative Medicine, Life Science Research and Clinical Research) and major geographies with country level break-up.
Hamilton Company (United States), Brooks Automation (United States), Qiagen N.V. (Germany), TTP Labtech Ltd (United Kingdom), VWR Corporation (United States), Thermo Fisher Scientific Inc. (United States), Tecan Group Ltd. (Switzerland), Promega Corporation (United States), Worthington Industries (United States), Chart Industries (United Sates), Becton, Dickinson and Company (United States) and Merck KGaA (Germany) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Modul-Bio (France), CSols Ltd (United Kingdom), Ziath (United Kingdom), LabVantage Solutions Inc. (United States), Greiner Bio-One (Austria), Biokryo GmbH (Germany), Biobank AS (Norway), Biorep Technologies Inc. (United States), Cell & Co Bioservices (France) and RUCDR infinite biologics (United States).
The companies are exploring the market by adopting expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions across the globe to gain a competitive advantage through combined collaborations. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Biobanking market throughout the predicted period.
Analyst at AMA have segmented the market study of Global Biobanking market by Type, Application and Region.
On the basis of geography, the market of Biobanking has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- 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
- High Cost of Automation
- Issues Related to Biospecimen Sample Procurement
- Emerging Countries
- Growing Focus on the R&D of Cell Therapies
- Long-Term Sustainability of Biobanks
Key Target AudienceBiobanking Companies, Emerging Companies, Research Professionals and End-users
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