[164 Pages Report] Biobanking Market is expected to reach $2.69 billion, at a CAGR of 7.8%

Research Methodology : Biobanking Devices Market

Top-down and bottom-up approaches were used to estimate and validate the size of the market and to estimate the size of various other dependent sub-markets. The overall market size was used in the top-down approach to estimate the sizes of other individual sub-markets (mentioned in the market segmentation—by product and service, sample type, storage type, application, and region) through percentage splits from secondary and primary research. The bottom-up approach was also implemented (wherever applicable) for data extracted from secondary research to validate the market segment revenues obtained.

Life Science Research;

In-house laboratories, repositories, and biobanks require primary cell cultures and cell lines for biomedical research, personalized medicine, cell-based research, and related segments. Due to the large turnover of highly sensitive samples in these research activities, it is critical to have a repository for the proper handling of samples. A biosample repository ensures appropriate long-term storage conditions for such samples. The samples are sorted, tracked, and made available to scientists to support life science research activities. A dedicated biobank helps curtail the recurring cost of continuous sample procurement from donor sites, thereby supporting targeted research in life sciences.

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Market Segmentation in Depth:

By product and service, the biobanking market is segmented into equipment, consumables, services, and software. The equipment segment is expected to dominate the global biobanking market. Rising number of biobanks and the increasing number of biospecimens are factors increasing the demand for biobanking equipment.

The biobanking market is segmented by sample type into blood products, human tissues, nucleic acids, human waste products, cell lines, and biological fluids. The blood products segment is expected to account for the largest share of the biobanking market, by sample type. Rising incidence of blood disorders and the increasing demand for various types of blood products across the globe are driving the growth of this segment.

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Based on region, the biobanking market is segmented into North America, Europe, Asia-Pacific, and Rest of the World (RoW). North America is expected to dominate the biobanking market, this is attributed to factors like increasing research activities in regenerative medicine, cell and gene therapy; growing interest in personalized medicine and biomarker discovery; increasing number of biotechnology and pharmaceutical companies; and rising investments in genomics and proteomics research in the region as compared to other regions.

Key players in the biobanking market include Thermo Fisher Scientific Inc. (U.S.), Tecan Group Ltd. (Switzerland), Qiagen N.V. (Germany), Hamilton Company (U.S.), Brooks Automation (U.S.), TTP Labtech Ltd (U.K.), VWR Corporation (U.S.), Promega Corporation (U.S.), Worthington Industries [(Taylor Wharton, U.S.)], Chart Industries (U.S.), Becton, Dickinson and Company (U.S.), Merck KGaA (Germany), RUCDR infinite biologics (U.S.).