openPR Logo
Press release

Biobanking Market to Soar to US$ 3.5 Bn by 2027, Notes Fact.MR

10-05-2020 09:21 AM CET | Health & Medicine

Press release from: Fact.MR

Fact.MR

Fact.MR

Biobanks are a type of repository which is used in the storage of biological samples, including human and animal tissues, which primarily find use in research applications. Consequently, the process of biobanking has become a very important part of medical research and has played a major role in modern science fields such as personalized medications, and genomics.

The global biobanking market is expected to grow at a healthy CAGR of ~ 7 per cent through the end of the forecast period in 2027. This growth will account for the sales of relevant equipment to reach a value of USD 1 billion during this period.

For more insights, visit- https://www.factmr.com/report/4438/biobanking-market

Rapid Growth in Asia Pacific Led by Activities in China

The countries in the Asia pacific region have been witnessing a substantial growth in the number of biobanks under development. Major contributors to the industry are coming from Australia, China, Thailand, Japan, South Korea, and Singapore.

Most of the push into biobanking in the region in recent times is coming from China, which can be attributed to regional advances in terms of the pharmaceutical industry, which has resulted in a greater demand for biospecimens for the development and production of therapeutics.

In turn, the governments have also set up initiatives towards improvements of existent infrastructure with the aid of additional funding, which will play a major role in the expanding scope of the industry. Further China is also witnessing a major increase in the number of biobanks, which will increase the demand for relevant equipment and services.
With the substantial growth of the Chinese biobanking industry, the Asia Pacific region has been projected to grow at a healthy CAGR of ~ 8 per cent throughout the forecast period.

Temperature Control Equipment Gain Greater Traction

The rising number of biobanks on a global scale are responsible for the higher demand of efficient storage equipment including varieties of biospecimens including nucleic acids, blood, tissues, and cells. Consequently, the sales of temperature control equipment such as freezers used for the preservation of such specimens is expected to witness greater traction in the years ahead.

On the other hand, the high expenses related to the tech advancements in terms of equipment and services are expected to remain a major challenge for manufacturers and service providers, which in turn increase operational costs for biobanks.

Request Sample Report- https://www.factmr.com/connectus/sample/S/4438

Contact:

Fact.MR
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Email: sales@factmr.com
Web: https://www.factmr.com/

Expert analysis, actionable insights, and strategic recommendations of the veteran research team at Fact.MR helps clients from across the globe with their unique business intelligence requirements. With a repository of over thousand reports and 1 million+ data points, the team has scrutinized the Healthcare sector across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Fact.MR's latest market reports and industry analysis help businesses navigate challenges and take critical decisions with confidence and clarity amidst breakneck competition.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Biobanking Market to Soar to US$ 3.5 Bn by 2027, Notes Fact.MR here

News-ID: 2148980 • Views: 154

More Releases from Fact.MR

11-09-2020 | Health & Medicine
Fact.MR
PCR and Real-time PCR Molecular Diagnostics Market to Surpass US$ 6 Bn by 2030, …
As per data from the World Health Organization, millions of deaths can be attributed to diseases such as cancer and HIV each year. Further, the recent outbreak of the COVID-19 virus has also created massive demand for effective diagnostics processes. The PCR and real-time PCR molecular diagnostics market has been gaining traction in recent years on the back of investments by PCR diagnostic test manufacturers towards the incorporation of molecular
Mini LED Market to Expand 7.5X by 2030, Finds New Study by Fact.MR
In recent years, increasing popularity of OLED TVs in China and India has been significantly influencing growth of the mini LED market. With an increase in disposable income of a majority of the population in these countries, the inclination towards smart screens with higher lifespan and better performance is expected to open up numerous growth opportunities for the mini LED market. Moreover, aspiring and affluent households have increased their spending
Uncertainty Surrounding COVID-19 to Shave-off Growth in Electrical Steel Market …
The global electrical steel market has utilized the opportunities in the market over the last decade with sales of electrical steel pegged at US$ 20.4 Bn in 2019. However, sales are set to plummet during in the middle two quarters of 2020 owing to COVID-19. In addition, several automakers have shuttered their production units, causing incalculable loss to the electrical steel market in 2020. However, the demand of electrical steel
07-02-2020 | Health & Medicine
Fact.MR
Medical Device Contract Manufacturing Market Set for Strong Growth, Production F …
The medical device contract manufacturing market is poised to expand at a CAGR of 11.3% during the forecast period (2020-2026). This is attributed to rapidly evolving healthcare industry and increasing adoption of technologically advanced surgical procedures. A number of original equipment manufacturers (OEMs) and contract manufacturers have been focusing on advanced technologies such as robotics, 3D-printing, and minimally invasive surgeries. Mergers & acquisition activities among leading players have greatly accelerated

All 5 Releases


More Releases for China

China Attestation
China is a growing Asian country and day by day many people migrate into the country for pursuing their personal needs. But going into China is not an easy task, we have to face some legal steps ahead. Let us define all this legal action in a single word China attestation. China government placed its embassies all over the world for ensuring the trustworthiness of the immigrant’s certificate. There
China Healthcare Market Analysis
Healthcare system in China is witnessing series of transformation driven by government backed reform process and increasing private sector participation. Although China healthcare market is fraction of the developed markets, it is actually witnessing double digit growth in recent years. However, within the Chinese healthcare market landscape,there still exists huge difference between the tier one cities and the rural areas. Within the city, there exist huge difference in the level
Global Color Steel Tile Market 2017 - South China, East China, Southwest China, …
Color Steel Tile Market Research Report A market study based on the " Color Steel Tile Market " across the globe, recently added to the repository of Market Research, is titled ‘Global Color Steel Tile Market 2017’. The research report analyses the historical as well as present performance of the worldwide Color Steel Tile industry, and makes predictions on the future status of Color Steel Tile market on the basis
Telecom Cloud Billing Services Explore In Regions (South China, East China, Sout …
Big Market Research has added a report, titled, “China Telecom Cloud Billing Services Market Size, Status and Forecast 2022.” The report offers an extensive information and analysis of sales, production, revenue, key manufacturers, drivers & opportunities, and competitive scenario. Moreover, current industry trends and growth prospects are explored along with thorough analysis of each segment for the historic period, 2012–2017 and the forecast period, 2017–2022. The research also offers insights
Restaurant Markets in China
China’s demand for Restaurant has grown at a fast pace in the past decade. In the next decade, both production and demand will continue to grow. The Chinese economy maintains a high speed growth which has been stimulated by the consecutive increases of industrial output, import & export, consumer consumption and capital investment for over two decades. This new study examines China’s economic trends, investment environment, industry development, supply
China Apparel Industry Analysis
RNCOS has recently added a new Market Research Report titled, “China Apparel Industry Analysis” to its report gallery. In China, the apparel industry has been witnessing a significant growth for the past few years, with a rise in the domestic market and increase in exports. Government initiatives, rising investments, and private players’ active participation have taken the Chinese textile and apparel industry to new heights. According to our latest research