The size for the Biobanks Market is expected to increase at a CAGR of 7.68% from 2019 to 2024. This market was worth USD 224.5 million in 2019 and to grow USD 324.9 million by 2024.
A biobank is a type of biorepository which stores the biological samples (mainly human samples) used for research purposes or even for treatment. Biobanks play a vital role in the field of biomedical research. The wide range of biospecimens includes samples of blood, saliva, plasma, and purified DNA which is known as libraries of the human organism. Before biobanks came into the market, doctors use to collect the samples only for their research purpose. Still, the biobanks gave researchers access to data representing a large number of people.
Beckman Coulter, Thermo Fisher, Panasonic, Sigma-Aldrich and SOL Group are industry leaders. They hold key technology and patents for high-end customers, with a market share of 32.28% formed by an industry monopoly.
Tecan Group Ltd. Tecan's Fluent Laboratory Automation workstation is to improve the performance of the QFT-Plus diagnostic test by dispensing a sample of the optional lithium heparin single-tube workflow. Fluent instruments are delivered directly to the lab through Tecan's Life Sciences business.
Becton, Dickinson, and Company launched an automated instrument for sample preparation using flow cytometry with a CE-IVD certified BD FACSDuet in March 2019. This instrument helps to understand and count the characteristics of cells.
Industry Dynamics
Growing Prevalence of Chronic Diseases is the Primary Growth Drivers to the Biobanks Market. By 2020, this prevalence is to increase by 57%. Out of this, 60% of the burden will occur in the emerging nations, stated by WHO. Further, factors such as developments in regenerative medicine, and the efforts to control ever-increasing medical costs lead to an unprecedented interest in biomarkers.
The main challenges are storage issues, regulatory issues, and inexpensive procedures. As a result, biomarker-based research is being adopted throughout the R & D process, from early detection to clinical research and also the data protection and confidentiality issues Asia Pacific Biobanks market growth.
Biobanks Market in the Asia Pacific
The market in the Asia Pacific to record lucrative growth as biobanking awareness in the region grows with a CAGR of 6.8% during the forecast period. Population growth and increased clinical research are other factors that positively impact the growth of the region's markets.
Expanding research activity also offers significant growth potential for the biotechnology sector in the region. This growth is due in no small amount of funding received from various governments and private organizations. The presence of regional players also contributes to the growth of the market. As the total number of newly deposited organic species increases, the Asia Pacific region may record the fastest growth in the forecast period. Countries such as Japan, China, South Korea, Thailand, India, Singapore, and Australia have biobank networks in the global market.
REPORT COVERAGE
|
REPORT METRIC |
DETAILS |
|
Market Size Available |
2018 – 2024 |
|
Base Year |
2018 |
|
Forecast Period |
2019 - 2024 |
|
Segments Covered |
By Product Type, Sample Type, Application, Region |
|
Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
|
Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
This research report on the Global Biobanks Market has been segmented & sub-segmented based on product type, sample type, application and region.
Biobanks Market Analysis - By Product Type
Biobanks Market Analysis - By Sample Type
Based on the sample type, the individual tissue section to account for the highest biobanks market share of approximately 65% during the forecast period. Preference for human tissue specimens is increasing over animal tissue samples due to the unavailability of appropriate animal models for some specific neurological and psychiatric disorders.
Biobanks Market Analysis - By Application
Regional Analysis
The United States Biobanks Market has the largest market share, followed by the European market. The growth in the Asia Pacific region is increasing rapidly and driven by the rise in population and increasing healthcare spending from government bodies. Asia Pacific region to show fierce competition with the developed areas.
List of key market participants in the Global Biobanks Market:
1. Introduction
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3. Overview
3.1 Executive Summary
3.2 Key Inferences
3.3 New Developments
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 By Product Type
5.1.1 Equipment’s
5.1.1.1 Temperature control systems
5.1.1.2 Incubators
5.1.1.3 Centrifuges
5.1.1.4 Alarm and Monitoring Systems
5.1.1.5 Accessories
5.1.1.6 Other Equipment's
5.1.2 Consumables
5.2 By Sample Type
5.2.1 Human Tissues
5.2.2 Stem Cells
5.2.3 DNA or RNA
5.2.4 Bio-fluids
5.2.5 Other Sample Type
5.3 By Application
5.3.1 Therapeutic Applications
5.3.2 Research Applications
5.3.3 Clinical Trials
6. Geographical Analysis
6.1 North America
6.1.1 Introduction
6.1.2 United States
6.1.3 Canada
6.2 Europe
6.2.1 Introduction
6.2.2 U.K
6.2.3 Spain
6.2.4 Germany
6.2.5 Italy
6.2.6 France
6.3 Asia-Pacific
6.3.1 Introduction
6.3.2 China
6.3.3 India
6.3.4 Japan
6.3.5 South Korea
6.3.6 Australia
6.4 Latin America
6.4.1 Introduction
6.4.2 Brazil
6.4.3 Mexico
6.4.4 Argentina
6.4.5 Rest of Latin America
6.5 Middle East & Africa
6.5.1 Introduction
6.5.2 Middle-East
6.5.3 Africa
7. Strategic Analysis
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1 Beckman Coulter
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Strategic Evaluation and Operations
8.1.4 Financial analysis
8.1.5 Legal issues
8.1.6 Recent Developments
8.1.7 SWOT analysis
8.1.8 Analyst View
8.2 Tecan group
8.3 Taylor- Wharton
8.4 Panasonic biomedical
8.5 Teva pharmaceuticals
8.6 Biolife solutions
8.7 Custom biogenic systems
8.8 Princeton cryotech
8.9 Fluidx
8.10 Tissue solutions
8.11 Wildcat laboratory solutions
8.12 Micronik
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Expert Opinions
10.1 Market Outlook
10.2 Investment Opportunities
Appendix
a) List of Tables
b) List of Figures
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