The global biobanking market was valued at USD 23,253.6 million in 2018, which will grow at a CAGR of 6.7% during the forecast period. Globally, biobanking industry is driven by factors such as the Increasing prevalence of chronic diseases, increasing demand for value-based care, increasing investment for genomic research, increasing awareness, robust pipeline for cell therapy.
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The market for biobanking is witnessing growth due to growing awareness on the therapeutic potential of stem cells, increasing approval of clinical trials in using cord blood cells, advances in biobanking. The increasing government funding for regenerative medicines; and the development of novel technologies for stem cell preservation, storage, and processing offer market players immense opportunities for biobanking industry revenue growth.
Geographically, North America has accounted for the largest share in the biobanking market, globally and is predicted to grow significantly during the forecast period. Some of the key factors leading to the growth of the North American market are technological advancement in the field of preservation and collection technique, availability of federal funding for research, and ongoing approvals for regenerative medicines. Moreover, Asia-Pacific is expected to witness the fastest growth during the forecast period due to the high potential of China. The growth in the region is centered in China, Japan and India as these countries have been developing their Lifesciences industry infrastructure with the increasing research funding.
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Some of the key players operating in the global biobanking market are BioLifeSolutions Inc, Becton, Dickinson and Company, Atlanta Biologicals Inc., Merck KGaA, Thermo Fisher Scientific Inc., STEMCELL Technologies Inc., Qiagen NV, Chart Industries Inc., VWR International LLC, Hamilton Company, PHC Holdings Corporation, Avantor Inc, and AlphaCord LLC.
The report provides the market value for the base year 2018 and a yearly forecast till 2024 in terms of revenue (USD Million). The report segments the global biobanking market on the basis of type, offering, application, utility needs, and region.
Global Biobanking Market Coverage
Type Insight and Forecast 2014-2024
Manual
Automated
Offering Insight and Forecast 2014-2024
Consumables
Equipment
Services
Software
Application Insight and Forecast 2014-2024
Clinical Research
Life Science and Medical Research
Regenerative Medicine
Utility Needs Insight and Forecast 2014-2024
Research
Routine
Epidemiology
Geographical Segmentation
Biobanking Market by Region
North America
By Type
By Offering
By Application
By Utility Needs
By Country – U.S., Canada, and Mexico
Europe
By Type
By Offering
By Application
By Utility Needs
By Country – Germany, U.K., France, Italy, Spain, and Rest of Europe
Asia-Pacific (APAC)
By Type
By Offering
By Application
By Utility Needs
By Country – China, Japan, India, South Korea, Australia, and Rest of Asia-Pacific
Rest of the World (RoW)
By Type
By Offering
By Application
By Utility Needs
By Country – Brazil, Saudi Arabia, South Africa, U.A.E. and Other Countries
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