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Biobanking Market Size to Witness a CAGR of 7.6% By 2023 | Key Profile, Growth Prospectus, COVID-19 Impact and Global Industry Insights

Jul 22, 2020 7:19 PM ET

iCrowd Newswire – Jul 22, 2020

Biobanking Market Size, Growth and Share Analysis By Product & Services (Equipment, Consumables, and Services), Sample Type (Blood Products), Storage Type (Manual Storage), Application (Regenerative Medicine) and End-User (Hospitals, Others), Global Forecast till 2023

Biobanking Market Overview:

The global biobanking market share is witnessing growth due to its rising inclusion in genomic studies, easy acceptance of top-end technologies, integration of the process in various departments of life sciences, surging investment in research and development projects, increasing government support, and others. But the market may suffer from the high cost of automation. In developing and under-developed countries, this will be a problem.

The global report on the biobanking market reveals that the biobanking market size in 2017 was of USD 950 million and is expected to profit in the coming years with a 7.6% CAGR during the forecast period of 2018 to 2023. Market Research Future (MRFR) includes several factors that will influence the biobanking market

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Biobanking Market Competitive Landscape:

Promega Corporation, Hamilton Company, Greiner Holding AG, Merck KGaA, VWR Corporation, Becton, Dickinson and Company, Thermo Fisher Scientific Inc., Tecan Trading AG, Qiagen N.V., Panasonic Healthcare Holdings Co., Ltd., Inc., Chart Industries, Inc., Brooks Automation, and others are some of the major companies to influence the global market. These companies rely on trends to initiate business models and their response to the market often spans across methods like merger, acquisition, innovation, collaboration, research funding, and others. MRFR listed all these recent moves to understand biobanking market trends and emerging trendsetters.

Biobanking Market Regional Analysis:

The global biobanking market needs a proper zone-wise assessment as this would help in exploring various growth pockets and increase the profit margin. In North America, the market would gain more as the hike in structural support, better funding, ability to invest more, research activities, the presence of major companies, and others are expected to boost the regional market. The US and Canada would influence the market more. In Europe, the region would benefit from the healthcare sectors of Italy, France, the UK, Germany, and others. In Asia Pacific, opportunities for growth are substantial due to the massive population, Eminent market players are trying to explore this opportunity by charting route plans in the region.

Biobanking Industry News:

The COVID-19 pandemic attack is impacting the biobanking market in several ways. One of the major modes of treatment is by using blood samples from patients who got cured. This requires proper storing of samples. In fact, other sample collection is expected to grow to support the research procedure and efforts to find out an effective drug.

Biobanking Market Segmentation:

The global study of the biobanking market has been conducted by MRFR experts on the basis of a segmentation that includes sample type, storage type, products and services, end-user, and application. This analysis also provides in-depth knowledge about how the market is reacting to influencers.

By products and services, the biobanking market report has been segmented into consumables, services, equipment, and software. The equipment segment has coverage of sample analysis equipment, storage equipment, sample transport equipment, sample processing equipment, and others. The consumables segment gets further segmented into analysis consumables, storage consumables, collection consumables, processing consumables, and others. The services segment includes processing services, transport services, storage services, and supply services.

By sample type, the global report on the biobanking market has been segmented into human tissues, blood products, nucleic acids, biological fluids, cell lines, and others.

By storage type, the study of the biobanking market includes manual storage and automated storage.

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By application, the global biobanking market report encompasses an understanding of segments like life science research, regenerative medicine, and clinical research.

By end-user, the report on the global biobanking market comprises research centers, diagnostic laboratories, hospitals, and others.

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NOTE: Our team of researchers are studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.

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Keywords:    Biobanking Market Size, Biobanking Market Trends, Biobanking Market Growth, Biobanking Market Share, Biobanking Market Insights