Biobanks and companies manufacturing equipment have taken several strategic initiatives such as collaborations, acquisitions, or partnerships with other companies and biobanks in the market to establish their foothold in the market. For instance, in Apr 2020, BC Platforms, a provider of data & technology platform announced that it added three new leading biobanks to its Global Data Partner Network, BCRQUEST.com, including Generation Scotland, UK, Bialystok Biobank, Poland, and Biobank Graz Austria. In Apr 2020, Partners HealthCare formed a consortium to build a COVID-19 biobank with blood samples from employees and their families of Biogen.
The global biobanking market was pegged at US$ 66.6 billion in 2020. The market is expected to witness a CAGR of 4.4% from 2022 to 2030.
Increasing adoption of artificial intelligence (AI) driven process automation, robotics, data analytics, and other technological advances are helping transform biobanks. Moreover, increasing research activities, rising funds for research activities, increasing awareness & trend regarding conserving cord stem cells have fueled the global biobanking market. However, the higher cost of equipment required for storing samples is one of the factors hindering the market growth to a certain extent.
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Key Plyers: –
- Thermo Fisher Scientific Inc
- BD, PHC Corporation
- QIAGEN, VWR International, LLC
- Hamilton Company
- Tecan Trading AG
- Brooks Life Sciences
- Greiner Bio-One International GmbH
- Promega Corporation, among others
By Products & Services
- Equipment
- Consumable
- Software and Services
By Application
- Regenerative Medicine
- Life Science
- Clinical Research
Regional Analysis-
- The Asia-Pacific market is anticipated to grow at a higher CAGR during the forecast period.
- Major factors contributing to the growth of Biobanking Market in this region include the rising incidence of chronic infectious diseases, rising awareness regarding growing applications of Biobanking, and increasing research activities in the field of Biobanking.
- The emergence of local players and new product launches has also played a critical role in boosting the Biobanking Market in this region.
Key Questions Answered in the Report Include:
- This report gives all the information about the industry analysis, revenue, and overview, of this market.
- What will be the rate of increase in market size and growth rate by the end of the forecast period?
- What are the major global Biobanking Market trends influencing the development of the market?
- What are the vital results of SWOT analysis of the major players operating in the Biobanking Market?
- What are the potential growth opportunities and threats faced by Major competitors in the market?
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