Biobanks Market : Global Industry Analysis and Regional Outlook | BioCision, Therm Fisher Scientific Inc., Tecan AG, Beckman Coulter, Inc., BioLife Solutions, Inc., Panasonic Biomedical Sales Europe B.V., Taylor-Wharton International LLC, VWR Internationa

The Biobanks market report is a comprehensive study of the Biobanks market, encompassing detailed segmentation according to region and sub-regions. The prime objective of the study is to educate marketers about the market size, current trends, drivers, restrains, opportunities, and factors affecting these dynamics. It offers detailed insight into statistical analysis of the market, its historical size, projected size and rate of growth during the forecast period (2019-2026).

Biobanks refers to the repository that collects, stores and distributes human biological materials including blood, plasma, saliva, purified DNA and other biospecimens. Biological banks keep a record of personal and health related information such as genetic information, health records, lifestyle, and family history for use it in health and medical research. Biological materials are stored in biobanks in an appropriate environment. It helps to detect human diseases and their causes; by various diagnostics tests that are conducted on these biological samples.

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Key Players:

BioCision, Therm Fisher Scientific Inc., Tecan AG, Beckman Coulter, Inc., BioLife Solutions, Inc., Panasonic Biomedical Sales Europe B.V., Taylor-Wharton International LLC, VWR International, LLC and So-Low Environmental Equipment Co.

Key Market Trends

Cryogenic Storage Segment by Equipment is Expected to Account for the Largest Market Share During the Forecast Period

In biobanks, the cryogenic storage systems are basically used to store different life sciences materials at a very low temperature. The low temperature storage increases the longevity of the cells, while at the same time reducing the intensity of freezing damage. Various cryogenic storage devices are available that have been designed to allow storage of both liquid and vapor phase materials. The temperature in the cryogenic storage system is required to be maintained continuously. Currently, all demand is for automated cryogenic storage devices. This segment is further divided into refrigerators, ice machines, and freezers. With advanced storage and automated devices propelling the growth of the market, steady growth in the North American and European markets is expected.

Global Biobanks Market: Drivers

As biobanks help in providing personalized medications and minimizing drug side effects, thereby improving the overall health of patients suffering from various diseases, the demand for biobanks will augment worldwide. Some of the key factors driving the market for biobanks are advancement in drug discovery, rising prevalence of chronic disorders such as cancer, respiratory disorders, and cardiovascular diseases, increasing healthcare expenditure, and several government initiatives supporting the development of biobanks.

Global Biobanks Market: Regional Analysis

Based on geography, the global market for biobanks can be segmented into Europe, North America, Asia Pacific, and the Rest of the World. North America presently leads the global market for biobanks, closely followed by Europe. The prominence of these regions can be attributed to the increasing incidence of chronic diseases, the imperative need to find effective treatments for them, large amounts of government investments in the area of biobanks, and growing number of research activities, together with drug discovery in the region.

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