|Global Biobanks Market Report to 2027 - Featuring Danaher, Merck, Avantor and Thermo Fisher Scientific Among Others|
|By: PR Newswire Association LLC. - 03 Oct 2022||Back to overview list
DUBLIN, Oct. 3, 2022 /PRNewswire/ -- The "Biobanks Market - Global Industry Size, Share, Trends, Competition, Opportunity and Forecast, 2017-2027 Segmented By Type, By Sample Type, By Application, By End User, By Region" report has been added to ResearchAndMarkets.com's offering.
The Global Biobanks Market stood at USD40.70 billion in 2021 and is expected to grow at an impressive rate of 8.22% during the forecast period. This can be ascribed to the growing investments and research & development in advanced therapies such as cancer genomic studies, personalized medicine, among others.
Biobanks Market contributes to the advancement of biomedical and translational research by collecting and preserving biological samples such as blood, tissues, and nucleic acids, which are then made available for use in research to discover disease-relevant biomarkers; this information is then used for diagnosis, prognosis, and drug response prediction.
The increase in the number of research activities in this area is a major market driver. The availability of government financing for regenerative medicine, stem cell treatments, and cell and gene therapy are fueling this segment's research. Aside from that, the growing trend of cord blood banking will help this market segment develop. Future possibilities are predicted to include breakthroughs in orthopaedic therapies utilising stem cells.
Precision medicine research is gaining traction as a result of the digital revolution. Precision medicine research and clinical data are also inextricably linked. Although there are times when there are modest connections between the two variables. Because the availability of data on well-characterized and high-quality samples is of relevance to healthcare organizations, this works as a profitable opportunity for stakeholders in the biobanking market.
Biobanks are in high demand to preserve a variety of biospecimen, from blood to tissues, cells, and nucleic acids, due to the growing trend of personalized treatments to reduce chronic disease-related mortality rates.
The Global Biobanks Market is segmented based on Type, Sample Type, Application, End-User, Region, and by Company. Based on Type, the market is further fragmented into Disease Oriented Biobanks, Population Based Biobanks, Tissue Biobanks and Others. Based on Sample Type, the market is segmented into Blood Products, Biological fluids, Nucleic Acid, Cell Lines and Others.
Also, segmentation of the market based on the Application is done into Therapeutics, Drug Discovery, Clinical Diagnostic and Clinical Research. Based on End-User, the market is further fragmented into Academic & Research Institutes, Pharma & Biotech Companies, Hospitals & Clinics and Others. The market analysis also studies the regional segmentation divided among North American region, Asia-Pacific region, European region, Middle East & African region, South American region.
The North America dominated the market in 2021 and is projected to maintain its dominance during the forecast period. United States market for biobanks was the largest and stood at USD9.03 billion in 2021. This can be ascribed to the large number of biobanks establishments in the country.
Danaher Corporation, Merck KGaA, Becton, Dickinson, and Company, Avantor, Inc., Thermo Fisher Scientific, Inc, Tecan Trading AG, QIAGEN N.V. Hamilton Company, ProMedDx, LLC, ISENET Biobanking S.r.l., are among the major market players in the Global Biobanks Market.
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