The latest research study “Biobanking Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global biobanking market size reached US$ 53.3 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 77.6 Billion by 2027, expanding at a CAGR of 6.18% during the forecast period (2022-2027).
What is Biobanking? How Big is Biobanking Market?
Biobanking refers to the procedure of storing and analyzing information about human biospecimens, which are collected from people with a particular condition or healthy volunteers. Biobanks are of two types, namely, population-based and disease-oriented. These modern procedures involve the large-scale analysis of specific disease biomarkers, which include digital or biological materials with well-annotated clinical data. Biobanking provides a basis for improving personalized medical approaches wherein effective identification is crucial for diagnosis and prognosis. As a result, these procedures find extensive utilization in research, academic institutions, pharmaceutical companies, etc., to improve the understanding of health as well as various diseases.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Biobanking Market Trends and Drivers:
The inflating need to analyze pathogens, collect high-quality human biospecimens, and identify therapeutic targets, on account of the sudden outbreak of the COVID-19 pandemic, is primarily driving the biobanking market. Besides this, the elevating demand for regenerative medicine and personalized treatments and the growing geriatric population are further augmenting the market growth.
Apart from this, the escalating developments in proteomics, disease biology, bioenergy, genomics, metagenomics, environmental remediation, ad other allied fields are also catalyzing the global market. Moreover, the rising innovations of products and services for sharing insights and critical information to advance scientific understanding are acting as significant growth-inducing factors.
Furthermore, several health agencies across countries are investing in virtual biobank network models that offer faster results, sustainable solutions, electronic databases, etc., which is expected to bolster the biobanking market in the coming years.
Biobanking Market Report Scope
Market Size in 2021
US$ 53.3 Billion
Market Size in 2027
US$ 77.6 Billion
Global Biobanking Market 2021-2026 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Brooks Automation Inc.
Bay Biosciences LLC
Greiner Bio-One International GmbH
Merck KGaA (ETR: MRK)
Thermo Fisher Scientific Inc (NYSE: TMO)
VWR Corporation (Avantor Inc.) (NYSE: AVTR)
The report has segmented the market on the basis specimen type, biobank type, application and end user.
Breakup by Specimen Type:
Breakup by Biobank Type:
Breakup by Application:
Breakup by End User:
Breakup by Region:
Explore Report Description with TOC & List of Figure: https://www.imarcgroup.com/biobanking-market
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Key highlights of the report:
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