Equipment Segment to Lead Biobanks Market During 2021–2028
According to our latest study on "Biobanks Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Product and Service (Equipment, Consumables, Service, and Software), Sample (Blood Products, Human Tissues, Cell Lines, and Others), and Application (Regenerative Medicine, Life Science Research, and Clinical Research)," the market is expected to grow from US$ 2,418.31 million in 2021 to US$ 3,758.64 million by 2028; it is estimated to register a CAGR of 6.5% from 2021 to 2028. The report highlights the key factors driving the market and prominent players with their developments. The growth of the biobanks market is primarily attributed to the growing funding and genomic research activities for studying diseases, increasing pharmaceutical and biopharmaceutical R&D expenditures, and rising adoption of regenerative medicines. However, the high cost of automation is expected to restrict the market growth during the forecast period.
Biobanks have been helpful in the fight against COVID-19 because they have provided researchers with access to the samples, researchers need to study the disease and create vaccines and therapies. While the pandemic posed a significant problem for biobanks, it also allowed future growth in many other research areas. It would have been impossible to make the genome of the SARS-CoV-2 virus accessible to the whole scientific community and produce efficient vaccinations in record time without samples from patients infected with COVID-19. Since the beginning of the pandemic, researchers have been requesting these samples to undertake tests to better understand the virus's various mechanisms for tricking human immune systems. The COVID-19 pandemic has brought new opportunities to biobanks as the importance of medical research has been brought to the forefront of the general public. Biobanks are currently well connected with other healthcare professionals and are building a more robust network to deal with future global crises.
Based on product and service, the global biobanks market is segmented into equipment, consumables, services, and software. In 2021, the equipment segment held the largest share of the market. Moreover, the consumables segment is expected to register the highest CAGR in the market during 2021–2028. Equipment play a vital role in the storage, analysis, processing, and collection of samples in biobanks products. Moreover, the increasing number of product launches in recent years is driving the equipment segment.
THERMO FISHER SCIENTIFIC INC.; Tecan Trading AG; QIAGEN; Hamilton Company; Avantor, Inc.; MICRONICS JAPAN CO., LTD.; BD; Taylor-Wharton; Brooks Automation, Inc; Biovault Family; Promega Corporation; and SciSafe Inc., are among the leading companies operating in the biobanks market.
Biobanks Market, by Geography, 2021 (%)
Biobanks Market Size & Share | Industry Forecast 2021, 2028
Download Free Sample
Global Biobanks Market Size, Share, and COVID-19 Impact Analysis – by Product and Service (Equipment, Consumables, Service, and Software), Sample (Blood Products, Human Tissues, Cell Lines, and Others), Application (Regenerative Medicine, Life Science Research, and Clinical Research), and Regional Forecast (2021–2028)
Biobanks Market Size & Share | Industry Forecast 2021, 2028
Download Free SampleGlobal Biobanks Market Size, Share, and COVID-19 Impact Analysis – by Product and Service (Equipment, Consumables, Service, and Software), Sample (Blood Products, Human Tissues, Cell Lines, and Others), Application (Regenerative Medicine, Life Science Research, and Clinical Research), and Regional Forecast (2021–2028)
The report segments the biobanks market as follows:
The biobanks market is segmented based on product and service, sample, application, and geography. Based on product and service, the market is segmented into equipment, consumables, services, and software. The equipment segment is further subsegmented into storage equipment, sample analysis equipment, sample processing equipment, and sample transport equipment. The consumable segment is further subsegmented into storage consumables, analysis consumables, processing consumables, and collection consumables. The services segment is further subsegmented into storage services, processing services, transport services, and supply services. Based on sample, the market is categorized into blood products, human tissues, cell lines, and others. In terms of application, the market is subsegmented into regenerative medicine, life science research, and clinical research. In terms of geography, the biobanks market is segmented into North America (the US, Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, and Rest of Europe), Asia Pacific (China, Japan, India, Australia, South Korea, and Rest of Asia Pacific), the Middle East & Africa (the UAE, Saudi Arabia, Africa, and Rest of the Middle East & Africa), and South and Central America (Brazil, Argentina, and Rest of South and Central America).
Contact Us
Phone: +1-646-491-9876
Email Id: sales@theinsightpartners.com