Biobanking Software Market will reach at US$ 91.23 Billion by the end of 2032. -Cell & Co Bioservices (France), RUCDR infinite biologics (U.S.), Modul-Bio (France), CSols Ltd (U.K.), Ziath (U.K.), LabVantage Solutions Inc. (U.S.)

The global Biobanking market is likely to be valued at US$ 45.23 Billion in FY 2022, up from US$ 43.45 Billion in 2021. During the past year, the industry registered a Y-o-Y increase worth 8.2%. From 2022 to 2032, Biobanking sales are poised to flourish at a CAGR of 8.34% to reach a value of US$ 91.23 Billion by the end of 2032.

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Global Biobanking Software: Top Key Players

Cell & Co Bioservices (France), RUCDR infinite biologics (U.S.), Modul-Bio (France), CSols Ltd (U.K.), Ziath (U.K.), LabVantage Solutions Inc. (U.S.)

Key Drivers Stimulating Biobanking Industry Expansion
Demand for Temperature Control Systems to Gain Strength in Biobanking Market

The growing trend of personalized medicines to reduce mortality rates caused by chronic diseases is fuelling demand for biobanks for the effective storage of numerous biospecimen, ranging from blood to tissues, cells, and nucleic acids.

Since major manufacturers are focusing on the launch of freezers & refrigerators, cryogenic storage systems, and other equipment for the storage of biobank samples, this segment is likely to witness increased emphasis on temperature control systems, this, in turn, stimulates the demand for biobanks globally. An upsurge in the number of biobanks in several countries and demand for advanced biobanking equipment in biobanks are the key drivers of the equipment segment.

Reformative Medicine Applications for the Biobanking Market will push the Demand
Biobanking plays a pivotal role in enhancing biomedical and translational research, by the stocking and preservation of biological samples, such as blood, tissues, and nucleic acids, which are then made available for usage in research to determine disease-relevant biomarkers; this is later used for diagnosis, prognosis, and foreseeing drug responses. An advance in the number of research activities in this section outlines a prominent driver for the market.

The availability of government subsidies for reformative medicine, stem cell therapeutics, and cell & gene therapy is backing research activities in this sector. Despite this, the upward trend of cord blood banking will also support the growth of this market segment.

Product types uploaded in the Biobanking Software are:

Blood Products, Human Tissues, Cell Lines, Nucleic Acids

Key applications of this report are:

Regenerative Medicine, Life Science, Clinical Research

The key players in the biobanking market include Thermo Fisher Scientific Inc. (U.S.), Tecan Group Ltd. (Switzerland), Qiagen N.V. (Germany), Hamilton Company (U.S.), Brooks Automation (U.S.), TTP Labtech Ltd (U.K.), VWR Corporation (U.S.), Promega Corporation (U.S.), Worthington Industries [(Taylor Wharton, U.S.)], Chart Industries (U.S.), Becton, Dickinson and Company (U.S.), Merck KGaA (Germany), Micronic (Netherlands), LVL Technologies GmbH & Co. KG (Germany), Panasonic Healthcare Holdings Co. Ltd (Japan), Greiner Bio One [Greiner Holding AG, Austria)], Biokryo GmbH (Germany), Biobank AS (Norway), Biorep Technologies Inc. (U.S.), Cell & Co Bioservices (France), RUCDR infinite biologics (U.S.), Modul-Bio (France), CSols Ltd (U.K.), Ziath (U.K.), and LabVantage Solutions Inc. (U.S.)

How Opportunistic are Growth Prospects across the U.S Market?
Swelling Investment in Biobanking for Drug Discovery & Development Likely to Boost Sales revenue in the U.S Market

Fact.MR anticipates the Biobanking industry across the U.S to experience maximum growth, at a CAGR of 8.5% from 2022 to 2032. The market is anticipated to yield a dollar opportunity worth US$ 575 Million to reach a value of US$ 1,530 Million through 2032. Growth is attributed to the advancements in regenerative medicine through stem cell technology.

Technical advancements in drug discovery and increased investment in personalized and regenerative medicine in the United States have opened a plethora of growth opportunities for manufacturers in the biobanking industry. The mounting occurrence of cancer, cardiovascular, and infectious diseases is enhancing the growth of the market in the province.

A large number of clinical trials associated with COVID-19 and snowballing usage of stem cell therapies for the treatment of various chronic diseases are also pushing the demand for biobanking products.

Increasing necessity to stash and preserve biological samples such as nucleic acids, tissues, and blood which are in demand for research activities for developments in biomedical research and to recognize disease-relevant biomarkers. The rise in the number of research activities is considered the principal driver for the forecast period.

Why are Biobanking Providers Venturing into China?
Asia Pacific Biobanking Market Surge Driven by China

As the demands for scientific research and application for specimens increase rapidly, biobanks in China have been springing up over recent years. As per the white paper published by Cambridge University, Presently, hospitals and research organizations in China establish and operate most biobanks, gathering human specimens to support clinical and scientific research by using Biobanking software and services.

With the swelling support from the Chinese government, biobanks are flourishing across the country. The APAC market evaluated nearly US$ 510 Mn in 2021 and is expected to expand to reach approx. US$ 1,130 Mn, flourishing at a CAGR of 7.5% throughout the forecast period.

A significant thrust to the Asia Pacific biobanking market is offered by China, on account of ongoing advancements in the pharmaceutical industry, which is likely to increase demand for biospecimen for producing therapeutics.
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By Application, which Biobanking is expected to Dominate?
Therapeutics to Grow as Leading Application in Biobanking Market

There has been a shift in the healthcare sector from chemicals towards biospecimen for the development of therapeutics to treat chronic and rare disorders. This is gradually boosting demand for blood products, tissues, and human cells for the development of precision and regenerative medicines.

On account of this shift, therapeutics are expected to account for a 38% share of the biobanking market by 2032. This segment is estimated to expand at a Y-o-Y growth rate of nearly 8% in the projected period.

However, as healthcare professionals are looking at a preventive rather than a curative approach, the use of biospecimen for Clinical Diagnostics is likely to increase at a CAGR of around 7% during the forecast period. Several research institutes help clinics by studying cell structures to determine the root of chronic diseases, which is projected to strengthen sales from the clinical diagnosis of biospecimen.

Biobanking Market Dynamics

DRIVERS
Increase in Genomic Research Activities for Studying Diseases
Advances in Biobanking and Growing Trend of Conserving Cord Blood Stem Cells of Newborns
Government and Private Funding to Support Regenerative Medicine Research
Growing Need for Cost-Effective Drug Discovery and Development

Restraints
High Cost of Automation
Issues Related to Biospecimen Sample Procurement

Opportunities
Emerging Countries
Growing Focus on the R&D of Cell Therapies

Challenges
Long-Term Sustainability of Biobanks

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Key Highlights

The global biobanking market was worth USD 42,104 million in 2021. It is estimated to reach USD 69,518 million by 2030, growing at a CAGR of 6.20% during the forecast period (2022-2030).
Based on specimen type, the global biobanking market is categorized into Blood Products, Solid Tissue, Cell Lines, Nucleic Acid, and Others. The Blood Products segment dominates the global biobanking market and is estimated to grow at a CAGR of 6.5% during the forecast period.
Based on the type of biobank, the global biobanking market is bifurcated into Population-Based and Disease-Oriented Biobanks. The Disease-Oriented Biobanks segment dominates the market and is estimated to grow at a CAGR of 5.9% during the forecast period.
Based on ownership, the global biobanking market is differentiated Into National/Regional Agencies, Non-Profit Organizations, Universities, and Private Organizations. National/Regional Agency is the highest contributor to the market and is estimated to grow at a CAGR of 5.5% during the forecast period.
Based on application, the global biobanking market is segmented into Therapeutic and Research. The research segment is the highest contributor to the market and is estimated to grow at a CAGR of 6.9% during the forecast period.
Based on end-user, the global biobanking market is bifurcated into Academic Institutions and Pharma & Biotech Companies. Academic Institutions are the highest contributor to the market and are estimated to grow at a CAGR of 6.2% during the forecast period.
Based on regions, the global biobanking market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The European biobanking market accounts for the highest market share and is expected to grow at a CAGR of 5.6% during the forecast period.

Competitive Landscape
Prominent Biobanking providers are reliant on partnerships, collaborations, acquisitions, and new software launches so as to stay afloat in the global market. Constant innovations to ensure a seamless client-customer relationship are the main focus of prominent market players.

In Nov 2021, Merck successfully completed the acquisition of Acceleron Pharma Inc. Acceleron is focused on harnessing the power of the transforming growth factor (TGF)-beta superfamily of proteins that are known to play a central role in the regulation of cell growth, differentiation, and repair.
In Dec 2021, Thermo Fisher Scientific Inc., the world leader in serving science, completed its acquisition of PPD, Inc., a leading global provider of clinical research services to the biopharma and biotech industry, for $17.4 billion.

Report includes Competitor's Landscape:

➊ Major trends and growth projections by region and country
➋ Key winning strategies followed by the competitors
➌ Who are the key competitors in this industry?
➍ What shall be the potential of this industry over the forecast tenure?
➎ What are the factors propelling the demand for the Toll Like Receptor 8?
➏ What are the opportunities that shall aid in significant proliferation of the market growth?
➐ What are the regional and country wise regulations that shall either hamper or boost the demand for Toll Like Receptor 8?
➑ How has the covid-19 impacted the growth of the market?
➒ Has the supply chain disruption caused changes in the entire value chain?

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