Biobanking Equipment Market: Latest Trends, Demand and Analysis 2019-2027

Growth Prospects and Emerging Trends

Biobanking Equipment Market: Latest Trends, Demand and Analysis 2019-2027

Press Release

Biobanking is the process of storage of body fluids or tissues for research purpose in order to understand health and diseases. Blood and urine are the most common types of sample stored for further research. Other than these, spinal fluid, fat samples, umbilical cord blood, and saliva are also collected for various studies. Increasing initiatives by private and government organizations for funding research is a major driver of the global biobanking equipment market. Increase in cases of chronic diseases also boosts market growth. North America have witnessed significant growth in the past few years. Several bioscience companies have headquarters and research centers for hosting a large number of drug discovery and research activities in these two regions. However, high cost of automation and ethical & social issues related to biospecimen sample procurement is projected to hamper the growth of the market in these regions in the near future.

Global Biobanking Equipment Market: Dynamics

Increase in Genomic Research Activities to Study Diseases

The number of people suffering from chronic disorders is increasing due to climatic conditions, heredity, changes in lifestyles, and personal habits. Genomic medicine is an emerging medical discipline that involves using genomic information about an individual as part of clinical care for treatment or therapeutic decision-making. Genomic research is also being utilized for the preparation of personalized medicine for complex diseases.

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Biobanks are useful and efficient resource in genomic research. Biobanking plays an integral role in advancing biomedical, genomic, and translational research through the collection and preservation of biological samples including blood, tissues, and nucleic acids. These are made available for use in research to discover disease-relevant biomarkers for diagnosis, prognosis, and predicting drug responses.

Increase in pharmaceutical R&D budgets by governments and private players is anticipated to support research activities, thereby boosting the growth of the global biobanking equipment market.

High Cost of Techniques Hampering Market Growth

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Biobanks are becoming an important component of the routine practice of pathology. However, the creation of a high quality biobank requires significant amount of efforts, capital funding, and infrastructure. The budget of biobanking includes the cost of consenting, procuring, processing, and preserving high quality biospecimens. To offer high quality biobanking, technologically advanced automated devices are also required. Hence, high cost of automation and sampling processing techniques hamper the growth of the global biobanking equipment market.

Global Biobanking Equipment Market – Competitive Landscape

Major players operating in the global biobanking equipment market include Thermo Fisher Scientific Inc., Tecan Trading AG, QIAGEN, Hamilton Company, Brooks Automation, Inc., TTP Labtech Ltd., Promega Corporation, Worthington Industries, Chart Industries, Becton, Dickinson and Company, Merck KGaA, LVL Technologies GmbH & Co. KG, PHC Holdings Corporation, and Greiner Bio-One International GmbH.

Thermo Fisher Scientific, Inc.

Thermo Fisher Scientific is a world leader in serving science through a range of technologies, products, and services. The company strives to make the world healthier, cleaner, and safer by accelerating life sciences research, solving complex analytical challenges, improving patient diagnostics, delivering medicines to market, and increasing laboratory productivity. It operates through four major business segments: life sciences solutions, laboratory products & services, specialty diagnostics, and analytical instruments. Majority of the company’s revenue is generated from North America, followed by Europe. Thermo Fisher Scientific offers a range of products for sample collection, sample preparation, sample analysis, sample storage, and sample transport.

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QIAGEN is a global leader in sample to insight solutions that transform biological samples into valuable molecular insights. The company offers its product and services for molecular diagnostics, applied testing, pharma, and academia. QIAGEN markets its products in over 130 countries through various subsidiaries. The company offers a range of tools to provide customers with direct access to technical support, inform them of new product offerings, and enhance reputation for technical excellence, high-quality products, and commitment to service. QIAGEN offers automated solutions including QIAcube, BioRobot, QIAsymphony, and Autopure LS for biobanking.

Global Biobanking Equipment Market: Segmentation

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The global biobanking equipment market can be segmented based on: Product Type Sample Type Application Region

In terms of product type, the global biobanking equipment market can be classified into: Temperature Control Equipment Freezers & Refrigerators Cryogenic Storage Systems Thawing Equipment Others Incubators & Centrifuges Alarms & Monitoring Systems Consumables Others

Based on sample type, the global biobanking equipment market can be categorized into: Blood Products Human Tissues Cell Lines Nucleic Acids Biological Fluids Human Waste Products Others

In terms of application, the global biobanking equipment market can be divided into: Regenerative Medicine Life Science Research Clinical Research Others

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on: Market segments and sub-segments Market trends and dynamics Supply and demand Market size Current trends/opportunities/challenges Competitive landscape Technological breakthroughs Value chain and stakeholder analysis

The regional analysis covers: North America (U.S. and Canada) Latin America (Mexico, Brazil, Peru, Chile, and others) Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg) Eastern Europe (Poland and Russia) Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand) Middle East and Africa (GCC, Southern Africa, and North Africa)

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report: A complete backdrop analysis, which includes an assessment of the parent market Important changes in market dynamics Market segmentation up to the second or third level Historical, current, and projected size of the market from the standpoint of both value and volume Reporting and evaluation of recent industry developments Market shares and strategies of key players Emerging niche segments and regional markets An objective assessment of the trajectory of the market Recommendations to companies for strengthening their foothold in the market   

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis. 

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