Global Biobanking Equipment Market Report: Share, Growth Analysis & Trends Forecasted during 2017 - 2022

Recently, a novel report developed using proven research methodologies at the headquarters of FactMR has identified various prominent factors and trends prompting market growth of Biobanking Equipment Market. The study is titled as “Biobanking Equipment Market Forecast, Trend Analysis & Competition Tracking: Global Review 2017 to 2022”, which deeply analyses the global market trends, with historical data from 2016 and 2017, and projections of compound annual growth rates (CAGRs) during the mentioned forecast of (). For the benefit of the readers, the report concludes with a special focus on the detailed profiles of the major vendors in the global biobanking equipment market.

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Bio banking equipment are equipment used in the biorepository, which stores biological samples for research purposes. Using biobanking equipment, researchers conduct tests, or perform analysis on specimens stored in a biobank. Along with equipment, consumables, software and services play an important role in helping researchers to study various types of diseases.

A major factor driving growth of the biobanking equipment market is growing demand for personalized medicine, which can be attributed to high unmet medical requirements for developing effective therapies. Personalized medicine implies treatments based on preferences, needs, and characteristics of patients. Individuals across the globe have been witnessed to bank their tissues and stem cells, in case any future treatment is required. Development of personalized medicine critically needs individual samples with annotated pathological and clinical data. Several research organizations are focusing on exploring ways for developments in personalized treatments with the help of biological samples. For example, in the previous year, Illumina signed 4 deals, related to biobanking, with the Vanderbilt University, Partners HealthCare, the Montreal Heart Institute, and the University of Colorado, with an aim of developing personalized medicines, and improving the overall healthcare system. This will positively impact growth of the global biobanking equipment market. Other factors influencing the market growth include growing need for discovery and development of cost-effective drugs, rise in private as well as government funding for supporting research on regenerative medicine, surging genomics research activities to study diseases, and advancements in biobanking.

Regenerative Medicine - Largest Application of Biobanking Equipment

Although regenerative medicine is projected to remain the largest application of biobanking equipment, sales for application in clinical research will exhibit the highest CAGR through 2022. Sales of biobanking equipment for application in life science research will remain relatively lower over the forecast period.

Manual storage are poised to remain sought-after in the global biobanking equipment market. However, automated storage is expected to register the fastest expansion in the market through 2022.

North America will remain the most attractive market for biobanking equipment, expanding at 7.6% CAGR through 2022. In addition, the markets in Japan and Latin America are estimated to witness a parallel expansion, exhibiting similar CAGRs through 2022.

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Blood will Remain Most Lucrative Sample in the Market

Blood is expected to be the most lucrative sample in the market, with sales expanding at the highest CAGR and accounting for the largest revenues through 2022. In contrast, sales of tissues are anticipated to exhibit the lowest CAGR through 2022, based on sample type.

On the basis of product, equipment will remain dominant in the market, with sales poised to exceed US$ 1,300 Mn in revenues by 2022-end. Between consumables, and software & services, the latter is projected to register a comparatively faster expansion through 2022.

Competition Tracking

The report has profiled key players operating in the global biobanking equipment market, which include Becton, Dickinson and Company, Brooks Automation, Inc., Chart Industries, Inc., Greiner Holding AG, Hamilton Company, Merck KGaA, Panasonic Healthcare Holdings, Promega Corporation, Tecan Trading AG, Qiagen N.V., Thermo Fisher Scientific Inc., and VWR Corporation.

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This release was published on openPR.