The global biobanking market is projected to reach USD 1,801.7 million by 2025, growing at a CAGR of 5.7%. Increase in population genetics studies, advances in biobanking with ongoing research on stem cells and public opting for its preservation, uptake of personalized medicine, government & private funding to provision regenerative medicine research, and the use of genetic information in food safety, forensics, and disease surveillance are the factors driving the growth of the biobanking market.
Request a pdf sample @ https://www.adroitmarketresearch.com/contacts/request-sample/1472
Strong investment in innovative therapies for R&D, such as regenerative medicine, precision medicine, and cancer genomics, is driving room. In addition, the onset of COVID-19 has placed biobanks at the forefront of pandemic prevention initiatives, resulting in organic sales growth in the industry. The growing popularity of precision/personalized medicine and genetic testing has been a core driver of the industry. Biobanks also played a major part in scientific science. This has contributed to a growth in demand for biospecimens from clinical laboratories for the production of genetic testing assays.
Biobanks consists of human tissues, DNA, body fluids, for research, therapeutic uses, and biological applications. The demand for biobanks and tissue suppliers have grown exponentially in both numbers and size, and are now established key partners for both academic and commercial groups. A recent study of 456 biobanks in the US showed that nearly two thirds of the biobanks were established within the last decade and 17% have been in existence for over 20 years, with 88% of these part of at least one or more larger organizations (67% academic, 23% hospitals, and 13% research institutes).
Browse the full report with Tabe of Contents and List of Figures at https://www.adroitmarketresearch.com/industry-reports/biobanking-market
To sustain this level of growth, biobanks have had to understand and satisfy the different interests of their customers in a sustainable method for long-term success. This move away from repository-like organizations and archive libraries is also evident in the level of donor information that is now collected with samples. Biobanks catalogue samples using donor demographics such as age, gender, and ethnicity and may also have information on medical history, genetic traits, environmental factors, and follow-up information. To researchers, this information has become as important as the sample itself and is often a key requirement when sourcing material.
Collaborations between private and public institutions in the field of biobanking have played a key role in the growth of the industry. Digitalization, precision medicine, and virtualization are increasingly transforming the biobanking sector by introducing innovative approaches and synergy ideas introduced by public and private organizations. Companies in all sectors are collaborating with biobanks that accelerate business sales. The exponential growth in the number of global cases has given rise to the relevance of biobanks to virus dissemination. High-quality COVID-19 specimens are needed and helpful for both scientific and diagnostic purposes, and biobanks are known to be essential repositories for these samples.
Enquire for in-depth information before buying this report @ https://www.adroitmarketresearch.com/contacts/enquiry-before-buying/1472
Biobanking market plays a crucial role in the expansion of translational and biomedical science by processing and storing biological samples, such as tissues, blood, and nucleic acids, which are later made available for use in research on the detection of disease-relevant biomarkers. However, this is further used for prognostic, diagnostic, and predictive drug reactions. Growth in the several research activities in this field is a key driver for the target industry. For instance, Illumina has collaborated with four universities – Denver University of Colorado, Vanderbilt University, Montreal Heart Institute University, and Partners HealthCare – to genotype their R&D biosamples. Also, amid the supply chain hindrance caused by a global pandemic, the industry saw healthy growth in 2020.
In 2018, North America was the largest market for biobanking. Advances in biomedical, pharmaceutical, and biotechnology industries are some of the factors propelling market growth in this region. Key players of the biobanking market include Thermo Fisher Scientific Inc., Tecan Group Ltd., Qiagen N.V., Hamilton Company, Brooks Automation, TTP Labtech Ltd., VWR Corporation, Promega Corporation, Worthington Industries, Chart Industries, Becton, Dickinson and Company, Merck KGaA and Micronic among others.
Direct purchase the single user copy at https://www.adroitmarketresearch.com/researchreport/purchase/1472
Key segments of the global biobanking market
Specimen Type Overview, 2015-2025 (USD Million)
- Blood products
- Solid tissue
- Cell lines
Storage Type Overview, 2015-2025 (USD Million)
- Manual Storage
- Automated Storage
Application Overview, 2015-2025 (USD Million)
- Regenerative Medicine
- Life Science Research
- Clinical Research
Regional Overview, 2015-2025 (USD Million)
- North America
- United Kingdom
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Rest of the World
Major points from Table of Contents:
- Research Methodology
- Market Outlook
- Biobanking Market by Specimen Type, 2015-2025 (USD Million)
- Biobanking Market by Storage Type, 2015-2025 (USD Million)
- Biobanking Market by Application, 2015-2025 (USD Million)
- Biobanking Market by Region 2015-2025 (USD Million)
- Competitive Landscape
- Company Profiles
Adroit Market Research is an India-based business analytics and consulting company. Our target audience is a wide range of corporations, manufacturing companies, product/technology development institutions and industry associations that require understanding of a market’s size, key trends, participants and future outlook of an industry. We intend to become our clients’ knowledge partner and provide them with valuable market insights to help create opportunities that increase their revenues. We follow a code– Explore, Learn and Transform. At our core, we are curious people who love to identify and understand industry patterns, create an insightful study around our findings and churn out money-making roadmaps.
Contact Us :
Account Manager Global
3131 McKinney Ave Ste 600, Dallas,
TX 75204, U.S.A
Phone No.: USA: +1 972-362 -8199 / +91 9665341414