Biobanking Market Share, Application, Analysis, Regional Outlook, Growth, Trends and Forecasts 2021 – 2030

In a recently published report, Biobanking Market report for till 2030. The report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Biobanking Market products.

“Final Report will add the analysis of the impact of COVID-19 on this industry.”

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Download Sample of This Strategic Report:Moreover, increasing expenditure on healthcare, backed by the need amongst individuals for quality healthcare services, is also anticipated to contribute to the market growth. According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018.

Global Biobanking Market is valued approximately at USD 2.08 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 23.7% over the forecast period 2020-2027. Biobanking is a method for gathering and storing biological resources that can be further used for diagnostics, ecosystem studies and analysis. Significant factors driving the growth of the global biobanking industry include expanded financial support from private and government organizations. In addition, an improvement in the prevalence of chronic diseases is driving demand growth. However, ethical and regulatory concerns related to biobanking are restricting business expansion. The emergence of the COVID-19 pandemic has taken the relevance of biobanks across the globe to the forefront. As a result, the rapid establishment of the COVID-19 biobank worldwide has witnessed the prospective selection of research biospecimens and the related clinical and patient data generated by COVID-19 patients with reported infection with the novel SARS-CoV-2 virus to allow high-quality research.

“Final Report will add the analysis of the impact of COVID-19 on this industry.”

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For example, NHRI Biobank, Minister of Health and Welfare, was assigned to create a COVID-19 biobank at the beginning of February 2020 to collect blood samples of COVID-19 patients in an evolving way for Taiwanese researchers and industry. Both aspects are projected to have an impact on the biobanking industry in the future. The outbreak of the pandemic has also had a positive impact on the expansion of the biobanking market. Several chronic illnesses, such as cancer, cardiovascular disease, neurological disorders and immunological disorders, cannot be treated with traditional treatment due to adverse side effects. The risk of these side effects may be minimized by incorporating it into stem cell therapy, which serves as a curing agent to mitigate the harm caused by treatment doses. According to figures from the National Cancer Center, about 9.5 million people were confirmed to have cancer in the U.S. in 2019, and this figure is projected to rise to 19 million in 2024. Hence, the demand for cord blood for medicinal purposes, stimulating the development of the biobanking market.

The regional analysis of global Biobanking Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. Asia-Pacific offers attractive prospects for major players operating in the biobanking industry due to a growth in population and the presence of a large geriatric population base. In addition, the increase in health spending and the developing guidlines are expected to fuel demand growth in the country.

Major market player included in this report are:
Thermo Fisher Scientific Inc.
Panasonic Healthcare Holdings Co., Ltd.
Becton, Dickinson and Company
Qiagen N.V.
Merck KGaA
VWR Corporation
Tecan Trading AG
Brooks Automation, Inc.
Chart Industries, Inc.
Hamilton Company
Greiner Holding AG
Promega Corporation

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:
By Specimen Type:
Blood Products
Solid Tissue
Cell Lines
Nucleic Acid

By Type of Biobank:
Population-based Biobanks
Disease-oriented Biobanks
By Application:

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By Ownership:
National/Regional Agencies
Non-profit Organization
Private Organization

By Region:
North America

Asia Pacific
South Korea
Latin America
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027

Target Audience of the Global Biobanking Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers

About Kenneth Research

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