New York, United States, Jan. 23, 2024 (GLOBE NEWSWIRE) -- The Global Biobanking Market Size is To Grow from USD 55.3 Billion in 2022 to USD 97.5 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 5.8% during the projected period. The growing number of applications for biobank samples increased demand for biobanking equipment, resulting in market expansion.
Get a Sample PDF Brochure: https://www.sphericalinsights.com/request-sample/3058
The biobanking market refers to advanced market structures that use technology to preserve and collect biological data, samples, and materials for future use. They also gather information about various diseases, attempt to find a cure and research the effects of multiple conditions. The increasing number of applications for biobank samples has increased demand for biobanking equipment, resulting in market growth during the forecast period. Furthermore, the incorporation of advanced technologies, data analytics, and automation has transformed traditional biobanks into virtual biobanks, presenting the market with a transformative opportunity. Biobanking allows for the preservation of cord blood stem cells to expand market potential. The blood that remains in a baby's umbilical cord after birth is known as cord blood. It is the most abundant source of conserved and processed stem cells for clinical research. Cord blood conservation is in high demand in the field of biobanking, which is expected to grow the biobanking market during the forecast period. Furthermore, the introduction of cord blood stem cell biobanking is driving the biobanking market significantly. In addition, software for virtual biobanking is being released to fuel the growth of the biobanking market. However, market growth is expected to be limited by the high cost of automated equipment. A significant initial investment is required for an automated storage system. In addition to the initial investment, ongoing maintenance and operational costs, such as software updates, repairs, and training, need to be taken into consideration.
COVID-19 Impact
The COVID-19 outbreak had a significant impact on the biobanking industry. Biobanking is critical for the diagnosis and production of medicines for a wide range of disorders. International initiatives to produce vaccines and other medicines to prevent the virus's spread were desperately needed.
Browse key industry insights spread across 200 pages with 110 market data tables and figures & charts from the report on the "Global Biobanking Market Size, Share, and COVID-19 Impact Analysis, By Sample Storage (Blood, Cells & Tissue, Others), By Application (Regenerative Medicines, Life Sciences, Others), By Settings (Academic Medical Institutes, Pharmaceutical & Biotechnology Companies) and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032."
Buy Now Full Report: https://www.sphericalinsights.com/checkout/3058
The blood segment is expected to hold the largest share of the global biobanking market during the forecast period.
Based on the sample storage, the global biobanking market is classified into blood, cells & tissue, and others. Among these, the blood segment is expected to hold the largest share of the biobanking market during the forecast period. Blood sample collection, storage, and distribution are increasing, mainly in developing countries, as the number of infectious diseases and the demand for curative measures rise. Blood samples are valuable biological samples because they contain DNA and RNA, which are both used in research.
The life science segment is witnessing significant CAGR growth over the forecast period.
Based on the application, the biobanking market is segmented into regenerative medicines, life sciences, and others. Among these, the life science segment is dominating the market with the largest revenue share over the forecast period. The increase in the supply of sample distribution to academic institutions and pharmaceutical R&D for clinical applications is attributed to the dominance. Scientists are facing pressure as the prevalence of complex diseases increases and the need for curative measures grows.
The academic medical institute segment is witnessing significant CAGR growth over the forecast period.
Based on the settings, the biobanking market is segmented into academic medical institutes, and pharmaceutical & biotechnology companies. Among these, the academic medical institutes segment is dominating the market with the largest revenue share over the forecast period. Increased R&D investments and a growing need for multiple samples to carry out research activities are attributed to the dominance. The growing number of cancer, Alzheimer's, and other diseases necessitates more curative measures, which encourages research.
Inquire Before Buying This Research Report: https://www.sphericalinsights.com/inquiry-before-buying/3058
Europe dominates the market with the largest market share over the forecast period.
Europe is dominating the market share over the forecast period. This dominance is attributed to the presence of well-established biobanks in Nordic countries such as Sweden, Norway, Denmark, and others. More than 40% of Iceland's population has contributed DNA, which is safely and privately stored in biobanks, according to an article published in Global Engage, a producer of conferences and summits for the Life Science and pharmaceutical sectors. Such contributions, as well as an increasing supply of samples, are expanding the European biobank market.
The North America market is expected to grow at the fastest rate during the forecast period. because of the numerous clinical trials conducted by research institutions and pharmaceutical companies. Furthermore, the growing use of virtual biobanks enabled by technological advances expanded the North American biobanking market. Furthermore, in the United States, storing specimens such as cord blood is widely accepted.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Biobanking market include UK Biobank, ProMedDx, IBBL, ASKION, Thermo Fisher Scientific Inc., Medizinische Universität Graz, Shanghai Zhangjiang Biobank, Isenet Biobanking, Hamilton Company, Brooks Life Sciences, QIAGEN N.V., ASKION GmbH, PHC Holdings Corporation, Ziath Ltd., Azenta, Inc. and among others.
Get Discount At @ https://www.sphericalinsights.com/request-discount/3058
Recent Developments
- In May 2022, Phenomix Sciences (Phenomix) began its Biobanking registry and results investigation. The registry will assess variability in obesity treatment response by collecting patients' DNA, hormones, metabolomics, and behavioral assessments regarding treatment outcomes. The Phenomix Sciences Obesity Platform contains 20 billion unique data points, which will be enhanced by the collected data.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2022 to 2032. Spherical Insights has segmented the global biobanking market based on the below-mentioned segments:
Biobanking Market, Sample Storage Analysis
- Blood
- Cells & Tissue
- Others
Biobanking Market, Application Analysis
- Regenerative Medicines
- Life Sciences
- Others
Biobanking Market, Settings Analysis
- Academic Medical Institutes
- Pharmaceutical and Biotechnology Companies
Biobanking Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
Browse Related Reports
South Korea Air Ambulance Services Market Size, Share, and COVID-19 Impact Analysis, By Type (Rotary Wing, Fixed Wing), By Application (Hospital Based, Community-Based), and South Korea Air Ambulance Services Market Insights Forecasts 2023 – 2033
South Korea Autoinjectors Market Size, Share, and COVID-19 Impact Analysis, By Therapy (Anaphylaxis, Rheumatoid Arthritis, Psoriasis, Migraine, Cardiovascular Diseases, Other), By Type (Disposable, Reusable), By End-User (Hospitals and Clinics, Home Care, Others), and South Korea Autoinjectors Market Insights Forecasts 2023 – 2033
Japan Ultrasound Devices Market Size, Share, and COVID-19 Impact Analysis, By Product Type (Diagnostic Ultrasound Systems, 2D Imaging Systems, 3D & 4D Imaging Systems, Doppler Imaging, Therapeutic Ultrasound Systems, High-Intensity Focused Ultrasound (HIFU), Extracorporeal Shockwave Lithotripsy (ESWL)), By Application (Radiology/General Imaging, Obstetrics/Gynecology, Cardiology, Urology, Vascular, Others), By Device Portability (Trolley/Cart-Based Ultrasound Devices, Compact/Handheld Ultrasound Devices), By End-use (Hospitals, Imaging Centers, Surgical Centers), and Japan Ultrasound Devices Market Insights Forecasts 2023 – 2033
South Korea Limb/Leg Lengthening Surgery Market Size, Share, and COVID-19 Impact Analysis, By Procedure (Lengthening Over Nail, Prostheses, External Fixation), By End User (Ambulatory Surgical Centers, Specialty Clinics, Others), and South Korea Limb/Leg Lengthening Surgery Market Insights Forecasts to 2033
About the Spherical Insights & Consulting
Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.
Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
CONTACT US:
For More Information on Your Target Market, Please Contact Us Below:
Phone: +1 303 800 4326 (the U.S.)
Phone: +91 90289 24100 (APAC)
Email: inquiry@sphericalinsights.com, sales@sphericalinsights.com
Contact Us: https://www.sphericalinsights.com/contact-us
Follow Us: LinkedIn | Facebook | Twitter
