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The 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%. 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 costeffective drug discovery and development. On the other hand, the growth of this market is hindered to some extent due to the high cost of automation and issues related to biospecimen sample procurement.
Automated storage is expected to register the highest CAGR during the forecast period
The biobanking market is classified by storage type into manual and automated storage. The automated storage type segment is expected to grow at a higher rate during the forecast period. This is attributed to launch of new and advanced automated storage equipment and increasing demand for the quality storage of samples.
Regenerative medicine to dominate the market during the forecast period
The biobanking market is segmented based on applications regenerative medicine, life science research, and clinical research. In 2017, the regenerative medicine segment is expected to command the largest share and is also estimated to grow at the fastest rate as compared to other segments. This can be attributed to increasing research activities in the field of regenerative medicine and rising demand for wellannotated and quality biosamples for research.
AsiaPacific is estimated to grow at the highest CAGR during the forecast period
Geographically, the biobanking market is dominated by North America, followed by Europe. The AsiaPacific region is estimated to grow at the fastest rate which can be attributed to the large population in China and India, increasing research in regenerative medicine, and improving life sciences research infrastructure in the region.
The primary interviews conducted for this report can be categorized as follows:
By Company Type Tier 1 70% and Tier 2 30%
By Designation C level 62%, Director level 21%, Others 17%
By Region North America 50%, Europe 20%, Asia Pacific 30%
The key players in the biobanking market include 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, Panasonic Healthcare Holdings Co. Ltd Japan, Greiner Bio One [Greiner Holding AG, Austria], Biokryo GmbH Germany, Biobank AS Norway, Biorep Technologies Inc. U.S., Cell Co Bioservices France, RUCDR infinite biologics U.S., ModulBio France, CSols Ltd U.K., Ziath U.K., and LabVantage Solutions Inc. U.S..
The report analyses the biobanking market by product and service, sample type, storage type, application and regions. Apart from comprehensive geographic product analysis and market sizing, the report also provides a competitive landscape that covers the growth strategies adopted by industry players over the last three years. In addition, the company profiles comprise the product portfolios, developments, and strategies adopted by prominent market players to maintain and increase their shares in the market. Market research data, current market size, and forecast of the future trends will help key market players and new entrants to make the necessary decisions regarding product offerings, geographic focus, change in strategic approach, and levels of output in order to remain successful in the type, products, applications, end users, and regions.
Key benefits of buying the Report:
This report will enable both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn will help these firms garner greater market shares. Firms purchasing the report can use any one or a combination of the belowmentioned five strategies for strengthening their market shares.
The report provides insights on the following pointers:
Market Penetration: Comprehensive information on the product portfolios of the top players in the biobanking market
Product Development/Innovation: Detailed insights on the upcoming technologies, RD activities, and product launches in the biobanking market
Competitive Assessment: Indepth assessment of the market strategies, geographic and business segments, and product portfolios of the leading players in the biobanking market
Market Development: Comprehensive information about emerging markets. This report analyzes the market for various biobanking products across geographies
Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the biobanking market
Original Article: Biobanking Market by Product and ServiceEquipment, Consumables, Services, Software, Sample Type Blood Products, Human Tissues, Cell Lines, Nucleic Acids, Application Regenerative Medicine, Life Science, Clinical Research Global Forecast to 2022 [Report UNEXT ARTICLE
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