Biobanking Market - Technological Advancements to Watch Out for Near Future 2023

Biobanking Market

Biobanks are biological repository of human samples and related data which is utilized in biological research for investigating therapeutic approaches to ameliorate various diseases. Bio-specimens are characterized to determine the features of a continuous cell line, identification of contaminants and gaining profound knowledge of the raw materials utilized in the preparation of the bio-products. The process of collection of these specimens and extraction of useful information into a repository for research purposes is known as biobanking.

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The biobanking market is segmented on the basis of product and service, sample type, application and storage type. On the basis of product and service, the market comprises of equipment, consumables, services and software. The equipment segment, due to the considerable increase in number of biobanks with relatable increase in the volume of bio-samples, is expected to witness the fastest growth during the forecast period in the biobanking industry.

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Regenerative medicine is expected to hold the largest market share during the forecast period (2017 – 2023). Factors such as rising research interest in regenerative medicine and the growing demand for proper characterization and good quality bio-samples for research study are driving the growth of this market segment.

MARKET SEGMENTATION

By Product and Service

• Equipment

• Consumables

• Services

• Software

• Blood Product

• Human Tissue 

• Cell Line

• Nucleic Acid 

• Biological Fluid

• Human Waste Product

• Regenerative Medicine

• Life-Science Research

• Clinical Research

• Manual

• Automated

By Sample Type

By Application

By Storage Type

The rising technological innovations in the area of cell therapy presents lucrative opportunities for the key players in the biobanking market. Additionally, the unexplored market in the Asia-Pacific region, with countries such as Japan, China, India, provide ample opportunities to the key players to increase their market size and share in biobanking industry.

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Some of the major key players operating in the biobanking market include Thermo Fisher Scientific Inc., PHC Holdings Corporation (Panasonic Healthcare Holdings Co. Ltd), Qiagen N.V., Merck KGaA, Brooks Automation. Inc., Hamilton Company, Becton, Dickinson and Company, Greiner Holding AG, BioLife Solutions, Inc., Promega Corporation.