The Biobanking Sample Market is accounted for more than US$ 2.0 Bn in the year 2019
Meridian Market Consultants (MMC) has published a new report titled, “2020-2025 Global and Regional Biobanking Sample Industry Production, Sales and Consumption Status and Prospects Professional Market Research Report (Enhanced Version)”
In 2019, the global Biobanking Sample Market is accounted for more than US$ 2.0 Bn and expected to grow at a significant CAGR of 7.4% during the forecast period and expected to reach to the value of US$ XXX Bn in 2025.
Global Biobanking Sample Market, By Type (Blood Products, Human Tissues, Nucleic Acids, Cell Lines, Biological Fluids, & Human Waste Products) By Application (Regenerative Medicine, Life Science Research, Clinical Research), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, & Africa) is expected to grow at a significant CAGR for the period between 2020 and 2025.
As per the report, the rising count of biobanks across the world is majorly driving the growth of the global biobanking sample market. A biorepository that stores biological samples for use in research is known as biobank. In recent years, biobanks have become a crucial part in medical research as it supports various kinds of present day research like genomics and personalized medicine. Likewise, the method in which specimens of bodily fluid or tissue are collected for research use to enhance our knowledge of health and disease is known as biobanking.
The growth of the global biobanking sample market is expected to rise significantly owing to the increase in the use of biological samples in medical research, which has further resulted in potential success rates of different clinical trials being carried out for several disease control. In addition, the growing need for biosamples for particular disease, especially tumor cells to accelerate the research regarding personalized medicine, across the world is also expected to propel the growth of the global biobanking sample market.
Additionally, the shareholders in the global biobanking sample market are also concentrating on personalized medicines to meet the growing demand for the particular diagnosis for rare diseases, hence favoring the growth of the global biobanking sample market.
Moreover, the growing awareness among the population about the types of cancer, neurological disorders and cardiovascular diseases are leading the way for further development of a precision medicine environment. Owing to which, the global biobanking sample market is expected to propel positively during the forecast period.
Also, the numerous benefits of biobanks is also playing a positive role in fueling the growth of the global biobanking sample market. Biobanks, by supporting the infrastructure that allows researchers and scientists to study and eradicate disease, saves hundreds of lives each year.
The rise in count of chronic diseases among the population across the world is also supporting the rapid growth of the global biobanking sample market.
Furthermore, the increase in genomic research activities across the globe is also another major factor for the growth of the global biobanking sample market. Governments, globally, are also making many initiatives to support regenerative medicine research, which is also projected to accelerate the growth of the global biobanking sample market.
MMC study identifies some of the key participating players in the biobanking sample market globally are Biolife Solutions, Greiner Bio One, Custom Biogenic Systems, Promega, Panasonic, BD, Hamilton, LVL Technologies, Thermo Fisher, So-Low, DNA Genotek, BioRep, TTP Labtech Ltd, Chart Industries, Lifeline Scientific, Merck, QIAGEN, Beckman Coulter, Brooks Life Science, SOL Group, and Tecan Group, among others.
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