Biobanking Market worth USD 60405.0 million by 2027

The Market Statsville Group (MSG) publishes the new report on the "Biobanking Market by Specimen Type (Solid Tissue, Cell Lines, Nucleic Acid, Blood Products, and Others), by Type of Biobank (Population-Based Biobanks and Disease-Oriented Biobanks), by Ownership (National Agency, Non-Profit Organization, Universities, and Private Organization), by Application (Therapeutic and Research), by End-User (Academic Institutions and Pharma & Biotech Companies), by Region – Global Share and Forecast To 2027". By 2027, the global biobanking market size is expected to grow USD 60405.0 million from USD 42,104.3 million in 2020, at a CAGR of 6.2% during the forecast period. Biobank specimens are used to treat a variety of chronic diseases such as cancer, cardiovascular diseases, neurological disorders, immunological disorders, and other rare metabolic diseases. These diseases cannot be treated using conventional therapies, as they lead to harmful side effects. However, the risk of these side effects could be reduced by integrating these therapies with stem cell therapy, which acts as a healing agent to reduce the damage caused by treatment doses. These combination therapies are especially beneficial for oncology treatment, as the prevalence rate of fatal diseases like cancer is rising.

Global Biobanking Market Segmentation

The overall biobanking market has been segmented into specimen type, biobank type, ownership, application, end-user, and region.

• By Specimen Type (Blood Products, Solid Tissue, Cell Lines, Nucleic Acid, and Others)
• By Type of Biobank (Population-Based Biobanks and Disease-Oriented Biobanks)
• By Ownership (National/Regional Agency, Non-Profit Organization, Universities, and Private Organization)
• By Application (Therapeutic and Research)
• By End-User (Academic Institutions and Pharma & Biotech Companies)
• By Region (US, Mexico, Canada, Germany, France, UK, Italy, Spain, China, India, South Korea, Japan, Southeast Asia, Australia, Saudi Arabia, Peru, South Africa, Qatar, UK, Nigeria, Israel, Brazil, Argentina)

The disease-oriented biobanks segment, by biobank type, is estimated to hold the largest market share during the forecast period

On the basis of the type of biobank, the market is bifurcated into population-based biobanks and disease-oriented biobanks. The disease-oriented biobanks segment was the highest contributor of 66.6% of the global biobanking market in 2020, and it is expected to register a significant CAGR from 2021 to 2027. Disease-oriented biobanks, also known as clinical biobanks, collect biological samples from patients and aim to discover and validate diseases' genetic and non-genetic risk factors. Furthermore, disease-oriented biobanks are established in affiliation with hospitals and research institutes, through which they collect samples representing a variety of diseases and disorders, possibly to look for biomarkers affiliated with the disease.

Stem cells exhibit the capability of discerning and regenerating various kinds of cells in the human body. These cells possess the potential to cure life-threatening diseases such as oncological and blood-related disorders. Furthermore, cord blood stem cells find application in treating more than 80 blood-related ailments, such as sickle cell disease.

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Europe accounts for the largest market share in biobanking market 2020

Based on the regions, the global biobanking market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. In 2020, The Europe biobanking market accounted for the highest share of 39.4% and is expected to continue its dominance throughout the forecast period. This is attributed to the early adoption of advanced technologies and increased awareness of biobanking among healthcare professionals and individuals working in the R&D industry. The European biobanking market is covered with respect to Germany, France, the UK, Italy, Spain, and the rest of Europe. Germany Contributes maximum toward the European market growth, owing to the introduction of novel therapies, such as personalized medicines.

Stem cell practices are rising in European countries and contribute to developing new solutions for various diseases. Furthermore, several advancements have been made in regenerative medicines through stem cell technology over the past decade. Therefore, it has become one of the vital treatment methods for diseases, such as Alzheimer's, cancer, diabetes, and rare genetic diseases. To benefit from the existing therapies, umbilical cord cells and other stem cells are preserved in biobanks.

This research report includes a study on the development and marketing strategies, along with a study on the product portfolios and winning strategies of the leading companies operating in the biobanking market. It also consists of the profiles of leading companies such as Geneticist Inc, Firalis S.A., AMS biotechnology Ltd., Bay Biosciences LLC, CTI Biotech, Cureline, Inc., US Biolab Corporation, Inc., BioIVT & Elevating Science ProteoGenex, Inc., and Boca Biolistics. These market players have focused on acquisitions and expansion to gain a larger market share in the biobanking market.

Browse complete report: https://www.marketstatsville.com/biobanking-market

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