Insights on the Biobanking Global Market to 2027 – Key Motivators, Restraints and Opportunities – PRNewswire

DUBLIN, Feb. 1, 2022 /PRNewswire/ -- The "Biobanking Market 2021-2027" report has been added to ResearchAndMarkets.com's offering.

The biobanking market is anticipated to grow at a substantial CAGR of 6.7% during the forecast period. The market is set to display impressive growth during the forecast period with some key trends emerging, such as the need of tackling the increasing prevalence of cancers and chronic diseases driven by continuously evolving end-user expectations.

The biobanking market is focused on the production and refurbishment of technologically advanced devices within time constraints by carrying out several types of research. It also depends on the level of inventory management practices of OEM and MRO clients. The growth in the R&D investments, government initiatives, and policies to reduce the prevalence of several diseases and the increase in awareness about stem cell therapies are some of the opportunities for the market players in the forecast period.

Further, the high focus on automation and issues related to biospecimen sample procurement are the factors that are restraining the market growth during the forecast period. The global biobanking market suffered a growth in market share during the COVID-19 crisis as there was a huge rise in researches during Q1 and Q2 2020. The impact of SARS-COV-2 and COVID-19 on the global biobanking market is evolving to find new ways of controlling the global pandemic, other chronic diseases, and the rise in cancer patients.

The global biobanking market is segmented based on product type, sample type, and segment. Based on product type segment, the market is segmented into equipment, consumables, and software and services. Among these, the equipment segment is expected to grow with the highest share due to the increase in the new biobanks among various geographies across the globe. Based on the sample type segment, the market is segmented into blood products, human tissues, nucleic acid, cell lines, biological fluid, and human waste products. Further, based on the application segment, the market is bifurcated into clinical research and regenerative medicine.

Geographically market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. The Asia Pacific is the fastest-growing market for biobanking. Innovative manufacturing, which was once a stronghold of the US and a few European economies such as France, Italy, and Germany, is set to expand to emerging economies, with next-generation largescale manufacturing centers to be planned predominantly in the Asia-Pacific region. The establishment of research centers in the Asian economies of Japan, South Korea, Taiwan, and China, which involve the highest degree of clinical researches, is set to increase the demand for biobanking in the forecast period.

Further, Becton, Dickinson and Co., Thermo Fisher Scientific Inc., AstraZeneca plc, Charles River Laboratories, Inc., Boehringer Ingelheim Pharma GmbH & Co. KG, Bristol-Myers Squibb Co., and F. Hoffmann-La Roche Ltd, among others are the key players in the market, To remain competitive in the market, the players are adopting different strategies such as new product launches and approvals, mergers and acquisitions, partnerships and collaborations, and many others. For instance, in February 2021, Charles River Laboratories, Inc. has announced the acquisition of Cognate BioServices, Inc., a leading cell and gene therapy contract development and manufacturing organization (CDMO), which has $875 million in cash, subject to customary closing adjustments.

Market Segmentation

The Report Covers

Key Topics Covered:

1. Report Summary

2. Market Overview and Insights2.1. Scope of the Report2.2. Analyst Insight & Current Market Trends2.2.1. Key Findings2.2.2. Recommendations2.2.3. Conclusion

3. Competitive Landscape3.1. Key Company Analysis3.1.1. Overview3.1.2. Financial Analysis3.1.3. SWOT Analysis3.1.4. Recent Developments3.2. Key Strategy Analysis3.3. Impact of COVID-19 on Key Players

4. Market Determinants4.1. Motivators4.2. Restraints4.3. Opportunities

5. Market Segmentation5.1. Global Bio-Banking Market by Product Type5.1.1. Equipment5.1.2. Consumables5.1.3. Services & Software5.2. Global Bio-banking Market by Sample Type5.2.1. Blood Products5.2.2. Human Tissues5.2.3. Nucleic Acid5.2.4. Cell Lines5.2.5. Biological Fluid5.2.6. Human Waste Product5.3. Global Bio-banking Market by Application5.3.1. Clinical Research5.3.2. Regenerative Medicine

6. Regional Analysis

7. Company Profiles7.1. Abbott Laboratories7.2. AstraZeneca PLC7.3. Becton, Dickinson and Co.7.4. BioChain Institute Inc.7.5. Biokryo GmbH7.6. Boehringer Ingelheim Pharma GmbH & Co. KG7.7. Bristol-Myers Squibb Co.7.8. Cell&Co.7.9. Charles River Laboratories International, Inc.7.10. Danaher Corp.7.11. F. Hoffmann-La Roche Ltd.7.12. Hamilton Co.7.13. Lonza Group7.14. LVL Technologies GmbH & Co. KG7.15. Merck KGaA and Co.7.16. Micronic Europe BV7.17. Modul-Bio7.18. Pfizer Inc.7.19. PromoCell GmbH7.20. QIAGEN GmbH7.21. Tecan Trading AG7.22. Thermo Fisher Scientific Inc.7.23. Ziath Ltd.

For more information about this report visit https://www.researchandmarkets.com/r/8vrlj1

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Insights on the Biobanking Global Market to 2027 - Key Motivators, Restraints and Opportunities - PRNewswire