The Biobanking Market by Product is expected to reach $ 2.69 Billion, 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 cost-effective drug discovery and development.
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Biobanking Market by Product
Regenerative medicine application of biobanking will drive the market
Biobanking plays an integral role in advancing biomedical and translational research, through the collection and preservation of biological samples, such as blood, tissues, and nucleic acids, which are then made available for use in research to discover disease-relevant biomarkers; this is further used for diagnosis, prognosis, and predicting drug responses. Growth in the number of research activities in this segment forms a major driver for the market.
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The objectives of this study are as follows:
- To define, describe, and forecast the market by product and service, sample type, storage type, application, and region
- To provide detailed information regarding the major factors influencing growth of the market (drivers, restraints, opportunities, and challenges)
- To analyze micro-markets with respect to individual growth trends, prospects, and contributions to the overall market
- To analyze the opportunities in the market for stakeholders and provide details of a competitive landscape for market leaders
- To forecast revenue of the market segments with respect to four main regional segments, namely, North America, Europe, Asia-Pacific, and the Rest of the World (RoW)
- To profile key players and comprehensively analyze their market shares and core competencies in terms of market development and growth strategies
key players in the Biobanking Market by Product :
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)
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Detailed Profile of one the major key player:
Panasonic Healthcare Holdings Co. Ltd. (Japan) accounted for the second-largest market share of the biobanking market in 2016. The company offers a wide range of sample storage systems. The company also adopted product launches as its key strategy to maintain its significant position in the biobanking market. The company launched advanced products in categories ranging from ultra-low temperature freezers to incubators used in biobanks.
