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Biobanking Market to Hit $68.08 Bn by 2025, At a CAGR 4.6% | AMR Study

September 3rd, 2019 Allied Market Research Releases

Increase in funds for biobanking from private & government organizations, high prevalence of chronic diseases, and an increase in R&D activities for application of biobanking are expected to propel the growth of the global biobanking market. Europe held the largest market share in 2017, contributing to more than two-fifths of the total revenue and is projected to dominate the global market throughout the forecast period.

According to the report published by Allied Market Research the global biobanking market accounted for $47.06 billion in 2017 and is expected to reach $68.08 billion by 2023, registering CAGR of 4.6% during the forecast period. The report presents in-depth analyses of the global biobanking market by closely monitoring the industry trends, drivers & opportunities, top investment pockets, key growth strategies, and competitive landscape.

Proactive support for biobanking by private & government organizations and high prevalence of chronic diseases drive the growth of the global biobanking market. However, ethical and legal issues associated with biobanking hamper the market growth. On the other hand, increase in R&D activities for application of biobanking and untapped opportunities in the developing regions are expected to create lucrative prospects for the market players in the coming years.

Download Sample Copy of this Report @ https://www.alliedmarketresearch.com/request-sample/2798

The solid tissue segment is expected to register the fastest CAGR of 5.9% during the study period. However, the blood products segment held the largest share, contributing to more than two-fifths of the total revenue

The research segment held the largest share of the market, contributing more than two-thirds of the total revenue. However, the therapeutic segment is estimated to manifest the fastest CAGR of 5.1% during the forecast period, owing to increase in awareness for biobanks and rise in focus on R&D related to the development of personalized medicines.

The population-based biobanks segment is expected to witness the fastest CAGR of 5.2% during the forecast period. However, the disease-oriented biobanks held the largest share of the market in 2017, contributing to more than four-fifths of the total revenue.

National/Regional agency segment contributed the largest share, accounting to more than two-fifths of the total revenue. However, the private segment is expected to register the fastest CAGR of 5.7% during the study period, as pharma and biotech companies have strengthened their presence in the biobank sector. The other segments analyzed in the report include non-profit organization and university.

Europe held the largest market share in 2017, contributing about 41% of the total revenue and is projected to dominate the global market throughout the forecast period. However, Asia-Pacific region is expected to register the fastest CAGR of 5.7% from 2018 to 2025. The other regions analyzed in the report include North America and Latin America, Middle East and Africa (LAMEA).

The key market players analyzed in the report include, ASKION GmbH, Cureline, Inc., Firalis S.A., LabVantage Solutions, Inc., PrecisionMed, Inc., CTI BIOTECH, Excilone SARL, Hamilton Company, LGC Limited, and ProMedDx LLC.

Check available discounts on this report @ https://www.alliedmarketresearch.com/purchase-enquiry/2798

About us

Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small & medium enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.

Allied Market Research provides one stop solution from the beginning of data collection to investment advice. The analysts at Allied Market Research dig out factors that help clients to understand the significance and impact of market dynamics. The company amplies client’s insight on the factors, such as strategies, future estimations, growth or fall forecasting, opportunity analysis, and consumer surveys among others. As follows, the company offers consistent business intelligent support to aid the clients to turn into prominent business firm.

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