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Global Biobanking Market is expected to reach USD 2.69 Billion by 2022, at a CAGR of 7.8% | Research Cosmos

 



(PharmaNewsWire.Com, March 20, 2018 ) The global Biobanking market is expected to reach USD 2.69 Billion by 2022 from USD 1.85 Billion in 2017, at a CAGR of 7.8%. A number of factors such as increasing number of genomics research activities for studying diseases, advances in biobanking and growing trend of conserving cord blood stem cells of newborns and government & private funding to support regenerative medicine research in biobanking are expected to drive the growth of Biobanking market.

The global Biobanking market is segmented by product and service, sample type, storage type, application and regions. By product and service, the biobanking market is segmented into equipment, consumables, services and software. The equipment segment is expected to lead the global biobanking market in 2017. Factors such as the growth in the number of biobanks and number of biosamples to be stored are increasing the demand for biobanking equipment.

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By sample type, the Biobanking market is classified into blood products, human tissues, cell lines, nucleic acids, human waste products, and biological fluids. Since blood and blood products are the most collected specimens and are used as a source of DNA and RNA, this segment type holds the largest share of the market.

On the basis of applications, the Biobanking market is segmented into regenerative medicine, life science research, and clinical research. Regenerative Medicine is expected to account for the largest share of the market in 2017 on the basis of applications. Growing research in regenerative medicine and the increasing demand for well characterized and quality biosamples for research are prime reasons for the growth of this market segment.

By storage type, the Biobanking market is segmented into manual storage and automated storage. In 2017, the manual storage segment is estimated to account for the largest share and the automated storage segment is projected to grow at the highest CAGR during the forecast period.

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The global Biobanking market is dominated by North America, followed by Europe. North America will continue to dominate the global biobanking market in the forecast period. However, Asia-Pacific is expected to witness the highest CAGR, with the growth in this market centered at Japan, China, and India. Improving life sciences research infrastructure in emerging economies and growing government investment in biomedical, pharmaceutical, and biotechnology industries are some of the factors propelling market growth in the Asia-Pacific region.

The high cost of automation and issues related to biospecimen sample procurement are expected to restrain the market growth to a certain extent.

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Major industry players launched innovative products to maintain and improve their position in the global Biobanking market. Hamilton Company (U.S.), Thermo Fisher Scientific Inc. (U.S.), Brooks Automation (U.S.), and Panasonic Healthcare Holdings Co. Ltd (Japan) have been identified as the top players in this market. These companies have a broad product portfolio with comprehensive features and have also launched innovative products. These leaders also have products for all end users in this market, a strong geographical presence, and they focus on continuous product innovations.

About Us:
Research Cosmos is an aggregator of syndicated and bespoke market research, business intelligence and consulting services on gamut of sectors across the globe. We’re associated with world renowned publishers who when combined, serve hundreds of fortune listed companies and publish wide range of insightful reports which cover nook and corner of every industry vertical.

Research Cosmos

Dani Rodriguez

+1 888 709 8757

dani@researchcosmos.com

Source: EmailWire.Com

Source: EmailWire.com


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