This market research report includes a detailed segmentation of the global biobanking market by product type (equipment and consumables) and by sample type (human tissues, stem cells, DNA or RNA, bio-fluids, and others). It also outlines the market shares for key regions such as the Americas, APAC, and EMEA. The key vendors analyzed in this report are Beckman Coulter, BioCision, Taylor-Wharton, Tecan, Thermo Fisher, and VWR.
Technavio has released its new market research report, global biobanking market, which is expected to grow at a CAGR of 8% between 2016 and 2020. Factors that can be attributed to the growth of biobanks are increasing aging population, healthcare reforms, and economic recovery. EMEA is the major contributor to the global biobanking market, accounting for 44% of the overall market share. The region is home to more than 60% biobanks especially in the Nordic countries such as Sweden, Norway, Denmark, Finland, and Iceland.
“Growing focus on developing preventive and personalized medicines has increased the demand for biologic samples. Biobanking provides a collection of genetic material and other relevant information about individuals and population. The collection of biospecimens has enhanced researches on rare and complex diseases, paving way for evidence-based medicines. Also, with the increasing demand for stem cells in therapeutics, cryopreservation of these cells for quality-controlled supply has become necessary,” says Imran Mushtaq, Lead Analyst, Healthcare & Sciences, Tecvhnavio Research.
Several market vendors are aiming towards the automation of biobanking process to maintain integrity and quality in long-term samples, reducing manual errors, enhancing the workflow efficiency, and enabling cost-effectiveness. Besides, automation can be very beneficial in blood fractionation, DNA extraction, labeling, and capping techniques. Also, the automated storage units allow samples to be stored at suitable temperature, improving their quality.
The key players in the global biobanking market include Beckman Coulter, BioCision, Taylor-Wharton, Tecan Group, Thermo Fisher Scientific, and VWR. The market is highly fragmented with the presence of both small and large vendors. To sustain competition, these vendors differentiate themselves in terms of automation of existing technology, value-added services, and increasing their collaborations and partnerships with research and academic institutions.
A more detailed analysis is available in the Technavio report, Global Biobanking Market 2015-2019.
We can customize this reports by other regions and specific segments upon request.
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