Bio-Banks Market : Industry Analysis

Bio-Banks Market was valued US$ 2.3 Bn in 2017 and is expected to reach US$ 6.7 Bn by 2026, at CAGR of 14.3% during forecast period.

Global Bio-Banks MarketAdvancement in biobanking operations in order to ensure optimization of sample storage and maintenance is one of the key factors driving this market. Regenerative medicine through stem cell technology is one of the important treatments for diseases, like Alzheimer's, diabetes, cancers, and rare genetic diseases. In order to benefit from the existing therapies, umbilical cord cells and other stem cells are preserved. With the increase in awareness about stem cell therapies, there has been a larger number of parents who are choosing umbilical cord banks for their children. There are a number of donor banks that are coming up as well. Biobanks not only support in the therapies for genetic diseases but also in medical research on rare genetic disorders. Growing awareness about stem cell therapies and innovation in the field of regenerative medicine are driving the growth of the global biobank market.

Growing in the incidence of chronic diseases, government initiatives, development in drug discovery, and innovation of regenerative medicines, increasing healthcare expenditure and improvement in the treatment of cell and tissue disorders are some of the key factors boosting the global biobanks market. Furthermore, increasing awareness about biobanks is projected to boost the market for biobanks. Rising demographics, economies, and growth in GDP in the emerging countries like India and China, technological advancement and new innovate techniques are expected to offer good opportunities in the global biobanks market. Green banking and virtual biobanks for energy efficiency are some of the key trends that have been observed in global biobanks market. At the same time, expensive techniques, lack of standardization, economic recession and ethical issues related are some of the major factors limiting the growth for global biobanks market.

According to various application, the biobank application is expected to hold a XX% share during the forecast period. On account of different biospecimens stored at biobanks are witnessing significant demand because to advancements in cell-based research activities. Growing demand from different end users has led to the establishment of a substantial number of population-based and disease-based banks in a few years. Population-based banks are established to support precision medicine research initiatives, whereas disease-specific biobanks provide resources to research communities to enable a better understanding of disease etiology.

Among the regions, North America presently leads the global market for biobanks, closely followed by Europe, and it is expected to expand further at the highest CAGR during the forecast period. The increasing demand for Bio-Banks in the U.S. and Canada has allowed the province to have the highest market share. The prominence of these regions on account of the increasing incidence of chronic diseases, the imperative need to find effective treatments for them, large amounts of government investments in the area of biobanks, and the growing number of research activities, together with drug discovery in the region.

The Bio-Banks market report contains in-depth analysis of major drivers, opportunities, challenges, industry trends and their impact on the market. The Bio-Banks market report also provides data about the company and its strategy. This report also provides information on the competitive landscape section of the report provides a clear insight into the market share analysis of key industry players. This research report also adds a snapshot of key competition, market trends during the forecast period, expected growth rates and the primary factors driving and impacting growth market data. This information will be beneficial or helpful to the decision makers.

The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding the global Bio-Banks market dynamics, structure by identifying and analysing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, and SWOT analysis to address questions of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in the global Bio-Banks market.

Scope of Global Bio-Banks Market:

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Global Bio-Banks Market, ByType:

• Optimized Pre-Formulated Media
• Non-Optimized, Isotonic Formulation Media

Global Bio-Banks Market, By Product:

• Refrigerators
• Ice Machines
• Freezers
• LN2 Supply Tanks
• Alarm and Monitoring Systems
• Cryogenic Storage Systems
• Accessories

Global Bio-Banks Market, By Application:

• Biobanking
• Regenerative Medicine
• Drug Discovery

Global Bio-Banks Market, By Analysis:

• Human tissue and tumor cells
• Bio-fluids
• Stem cells
• Umbilical cord

Global Bio-Banks Market, By Region:

• North America
• Europe
• Asia-Pacific
• South America
• Middle East & Africa

Key Players Operated in Market Include:

• Home-Brew media solutions
• Teva Pharmaceuticals
• Organ Recovery Systems
• Genzyme
• Thermofisher Scientific
• VWR International
• Beckman Coulter Inc.
• Taylor-Wharton
• Tecan AG
• Panasonic Biomedical Sales Europe B.V.
• Thermo Fisher Scientific Inc.
• Taylor-Wharton International LLC
• So-Low Environmental Equipment Co.
• BioCision
• VWR International, LLC
• Beckman Coulter, Inc.
• BioLife Solutions, Inc.

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