Biobanking Market 2022 Segment Overview, Company Profiles, Regional Analysis and Forecast 2030

SDKI Inc. published a new research report on "Global Biobanking Market-Forecast 2022-2030". The report provides a complete assessment of the market and its growth prospects, along with new business opportunities in the industry. It also includes market size and annual growth during the 2022-2030 forecast period.

Report sample URL
https://www.sdki.jp/sample-request-106280

The biobanking market is estimated to reach US $ 14.09 billion by 2030 from a market value of US $ 3.18 billion in 2022 and is expected to grow at a CAGR of 23.7% during the 2022-2030 forecast period.

Biobanking collects and stores biological resources that can be further used for diagnosis, ecosystem research and analysis. Is the way to do it. Biobanks play a fundamental role in supporting biomedical research, developing personalized medicine, and maintaining and updating the age group database. Increasing financial support from private and government agencies is a key driver of the growth of the global biobanking market. In addition, the rising prevalence of chronic diseases is driving the growth of the biobanking market during the forecast period. However, ethical and regulatory concerns associated with biobanking can curb the growth of the biobanking market.

Sample URL of the report
https://www.sdki.jp/sample-request-106280

The outbreak of a pandemic also had a positive impact on the expansion of the biobanking market. Some chronic illnesses, such as cancer, cardiovascular disease, neuropathy, and immune disorders, cannot be treated with conventional treatments due to adverse side effects. The risk of these side effects can be minimized by incorporating them into stem cell therapy. Stem cell therapy acts as a therapeutic agent to reduce the harm caused by the therapeutic dose. According to National Cancer Center statistics, about 9.5 million people in the United States will have cancer in 2019, and this figure is projected to increase to 19 million by 2024. Therefore, the demand for cord blood for medical purposes will drive the growth of the biobanking market.

Global market growth can be attributed to various significant advances in the healthcare industry to promote health through the development of three basic parameters: detection, prevention, and treatment. These parameters are needed to measure health, quality of life, and the overall health system. In addition, rising medical costs are driving market growth. According to the Organization for Economic Co-operation and Development (OECD) statistics, Japan's total per capita health care costs (government, compulsory health insurance, voluntary health insurance) increased from US $ 4297.13 in 2016 to US $ 4823 in 2019. Similarly, in the United States, it increased from $ 9880.16 to $ 11072 in 2019. Germany has witnessed an increase from $ 5668 to $ 6646, and the United Kingdom has observed growth from $ 3990 to $ 4653.05 during the above period. Globally, healthcare costs are projected to grow at a CAGR of approximately 5% between 2020 and 2024.

Advances in the healthcare sector are estimated to provide lucrative business opportunities for key players to take advantage of these opportunities in the coming years. In addition, there are several initiatives taken by healthcare professionals and government agencies to overcome some challenges (unreachable and affordable medical services, lack of investment in health care, trained doctors and nurses, etc.). It is expected to boost market growth during the forecast period.

Biobanking market segment

The biobanking market is by sample type (blood products, solid tissues, nucleic acids, cell lines, etc.), biobank type (population-based biobanks and disease-oriented biobanks), and ownership (country / region). Divided by institution, nonprofit, university, and private organization), by application (treatment and research), and by region. These segments are further subsegmented based on various factors and consist of some additional information about the market, such as the combined annual growth rate of each segment and subsegment, the market value and volume of the valuation period.

Regional Overview of the Biobanking Market

In addition, the report covers all regions of the world, divided into North America, Europe, Asia Pacific, Latin America, Middle East & Africa and more. The Asia Pacific region offers a compelling outlook for key players working in the biobanking industry. This is due to the growing population and the presence of a large elderly population base. In addition, rising health care costs and guidelines under development are expected to boost the growth of the biobanking market in the region. Meanwhile, the North American biobanking market is expected to hold the largest revenue share during the forecast period. This is due to the continued increase in investment in the collection, establishment and processing of large datasets and the increase in medical collaboration between private and public institutions.

Details of the research report
https://www.sdki.jp/reports/global-biobanking-market/106280

Key players

The biobanking market Key players in the biobanking market include Thermo Fisher Scientific Inc., Panasonic Healthcare Holdings Co., Ltd., Becton, Dickinson and Company, Qiagen NV, Merck KGaA, VWR Corporation, Tecan. These include Trading AG, Brooks Automation, Inc., Chart Industries, Inc., Hamilton Company, Greiner Holding AG and Promega Corporation. The survey includes a detailed competitive analysis of these key companies in the biobanking market, corporate profiles, recent developments, and key market strategies.

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SDKI Inc. Company Profile

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This release was published on openPR.