The global biobanking market size is expected to reach USD 67.90 Billion in 2030 and register a revenue CAGR of 8.6% over the forecast period, according to latest analysis by Emergen Research. Increasing genomic research activities and investment in R&D by major companies is driving global biobanking market revenue growth. Surge in research activities of regenerative medicines, stem cell therapeutics, and cell and gene therapy is also driving revenue growth of the global market.
Biobanking market revenue growth is also driven by increase in application of bio-banked samples. Biobanks focusing on plants, animals, and microbes are evolving rapidly. Different types of biobanks are gaining traction, such as disease-centric biobanks, population-based banks, DNA/RNA banks, genetic banks, tissue banks, blood banks, virtual biobanks, stem cell banks, microbiome banks, and others, which is driving market revenue growth. Biobanks enable access to large pool of high-quality samples and associated data. These are reliable hubs for storage and processing of samples from clinical trials and other sources. Biobanks help to achieve important conditions for achieving reproducible research results.
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The new report titled ‘Global Biobanking Market’, is methodically curated by our team of analysts, keeping readers’ understanding in mind, and includes a wide-ranging database of industry distribution. The report takes a closer look at the historical and current market scenarios to accurately predict the global Biobanking market outlook over the forecast duration (2018-2030). Researchers have taken a holistic approach towards the global market analysis and highlighted the factors that influence the overall growth of the market.
Key players in the market include K. Biobank Limited, Medizinische Universitat Graz, Hamilton Company, ASKION, Azenta Life Sciences, Qiagen, Promega Corporation, Integrated Biobank of Luxembourg (IBBL), Isenet Biobanking, and Thermo Fisher Scientific, Inc.
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Some Key Highlights from the Report
In April 2020, Biogen Inc., Partners HealthCare and Broad Institute of MIT and Harvard signed a partnership agreement to build and share COVID-19 biobank. Company employees can donate blood samples and contribute to medical data to COVID-19 biobanks to boost efforts to develop vaccines for coronavirus and for treatment of resulting disease.
Services segment is expected to register rapid revenue growth rate during the forecast period owing to rising demand for storage services. Increase in stem cell biobanking is gaining traction in recent years due to rising awareness regarding therapeutic benefits of stem cells and increased investment in stem cell-based research.
Blood product segment registered a significantly robust revenue growth rate in 2020. Blood is among the most common biospecimens collected in human biobanks as it is a source of RNA and DNA.
Among the application segments, the regenerative medicine segment accounted for significantly large revenue share in 2020. Increasing demand for qualitative bio samples and increasing research in regenerative medicine is driving revenue growth of this segment.
Emergen Research has segmented the global biobanking market on the basis of product & services, sample type, storage type, application, and region:
Product & Services Outlook (Revenue, USD Billion; 2018–2030)
Equipment
Storage Equipment
Sample Transport Equipment
Sample Processing Equipment
Sample Analysis Equipment
Consumables
Collection Consumables
Storage Consumables
Processing Consumables
Analysis Consumables
Services
Supply Services
Processing Services
Storage Services
Transport Services
Software
Sample Type Outlook (Revenue, USD Billion; 2018–2030)
Biological Fluids
Human Tissues
Blood Products
Nucleic Acids
Human Waste Products
Cell Lines
Storage Type Outlook (Revenue, USD Billion; 2018–2030)
Automated Storage
Manual Storage
Application Outlook (Revenue, USD Billion; 2018–2030)
Regenerative Medicine
Life Science Research
Clinical Research
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Regional Analysis Covers:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key point summary of the report:
The report offers a comprehensive overview of the market size, share, and growth rate in the forecast duration.
It provides details about current scenario, historical data, giving an accurate market forecast for the coming years.
The study categorizes the market on the basis of product types, applications, end users, market value and volume, business verticals, and 5 major regions.
It also offers regional market analysis and forecast for prominent geographies in the sector viz., North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Industry supply chain, sourcing strategy, upstream feedstock, and downstream demand analysis has also been undertaken in the research report.
The study offers a comprehensive understanding of the demand and supply dynamics, including production and consumption rates, and mapping of the overall market.
The report employs different analytical tools including, SWOT analysis, Porter’s five forces analysis, and pricing analysis, to give precise market information
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