Equipment segment is projected to be the dominate the Biobanks Market in 2022
According to the report Biobank Market, published by Market Data Forecast, the Global market is projected to reach USD 279.6 million by 2022, at a CAGR of 7.6% from 2017 to 2022
Biobanks are used to store biological samples to use for research purposes. They allow the researchers the access to samples from a large number of donors.
Biobanks generally comprise of cryogenic storage units or facilities. Pharmaceutical companies, hospitals and other research institutions are usually in need of ways to store the biological samples.
The samples stored in biobanks include urine, blood, tissue and skin cells.
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Biobank Market: Drivers & Restraints
Increase in research and development activities in life sciences and genomics is the major factor driving the market growth of biobanks market. Technological advancements in the storage equipment, increase in the investments for development of biopharmaceuticals and reduction in monetary requirements in research are expected to propel the market.
However, stringent regulatory guidelines and ethical issues regarding the storage of human tissues are hindering the market growth.
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Biobank Market: Segmentation
By Product Type
- Temperature control systems
- Alarm and Monitoring Systems
- Other Equipment
By Sample Type
- Human Tissues
- Stem Cells
- DNA or RNA
- Bio fluids
- Other sample types
- Therapeutic Applications
- Research Applications
- Clinical Trials
- North America
- United States
- Asia Pacific
- South Korea
- Latin America
- Rest of Latin America
- Middle East & Africa
- Middle East
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Biobank Market: Overview
Based on product type, Equipment segment is expected to hold the largest market share in the forecast period. It is because of the rising number of biobanks and also because of the increasing research activities on stem cell research.
Consumables market is significantly growing due to the constant need for replenishing these products.
North America leads the Biobank market due to the increasing government and private investments in drug development and also due to the large number of pharmaceuticals and biotechnology companies in this region. Asia Pacific is expected to be the fastest growing segment.
It is due to the increasing pharmaceutical outsourcing from western countries to this region.
Biobank Market: Key Players
Some of the major players in the biobanks market are Teva pharmaceuticals, Custom biogenic systems, Beckman Coulter, Tecan group, Biolife solutions, Princeton cryotech, Fluidx, Taylor- Wharton, Panasonic biomedical, Tissue solutions, Wildcat laboratory solutions, Micronik and Brooks life science systems.
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