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Report Ocean presents a new report on Biobanking Market size, share, growth, industry trends, and forecast 2030, covering various industry elements and growth trends helpful for predicting the market’s future.

Global Biobanking Market is valued approximately at USD 2.08 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 23.7% over the forecast period 2020-2027.

The Centers for Medicare and Medicaid Services report that US healthcare expenditures grew by 4.6% to US$ 3.8 trillion in 2019, or US$ 11,582 per person, and accounted for 17.7% of GDP. Also, the federal government accounted for 29.0% of the total health expenditures, followed by households (28.4%). State and local governments accounted for 16.1% of total health care expenditures, while other private revenues accounted for 7.5%.

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Biobanking is a method for gathering and storing biological resources that can be further used for diagnostics, ecosystem studies and analysis. Significant factors driving the growth of the global biobanking industry include expanded financial support from private and government organizations. In addition, an improvement in the prevalence of chronic diseases is driving demand growth. However, ethical and regulatory concerns related to biobanking are restricting business expansion. The emergence of the COVID-19 pandemic has taken the relevance of biobanks across the globe to the forefront.

As a result, the rapid establishment of the COVID-19 biobank worldwide has witnessed the prospective selection of research biospecimens and the related clinical and patient data generated by COVID-19 patients with reported infection with the novel SARS-CoV-2 virus to allow high-quality research. For example, NHRI Biobank, Minister of Health and Welfare, was assigned to create a COVID-19 biobank at the beginning of February 2020 to collect blood samples of COVID-19 patients in an evolving way for Taiwanese researchers and industry. Both aspects are projected to have an impact on the biobanking industry in the future. The outbreak of the pandemic has also had a positive impact on the expansion of the biobanking market. Several chronic illnesses, such as cancer, cardiovascular disease, neurological disorders and immunological disorders, cannot be treated with traditional treatment due to adverse side effects. The risk of these side effects may be minimized by incorporating it into stem cell therapy, which serves as a curing agent to mitigate the harm caused by treatment doses. According to figures from the National Cancer Center, about 9.5 million people were confirmed to have cancer in the U.S. in 2019, and this figure is projected to rise to 19 million in 2024. Hence, the demand for cord blood for medicinal purposes, stimulating the development of the biobanking market.

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The regional analysis of global Biobanking Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. Asia-Pacific offers attractive prospects for major players operating in the biobanking industry due to a growth in population and the presence of a large geriatric population base. In addition, the increase in health spending and the developing guidlines are expected to fuel demand growth in the country.

Major market player included in this report are:
Thermo Fisher Scientific Inc.
Panasonic Healthcare Holdings Co., Ltd.
Becton, Dickinson and Company
Qiagen N.V.
Merck KGaA
VWR Corporation
Tecan Trading AG
Brooks Automation, Inc.
Chart Industries, Inc.
Hamilton Company
Greiner Holding AG
Promega Corporation

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The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:
By Specimen Type:
Blood Products
Solid Tissue
Cell Lines
Nucleic Acid
Others
By Type of Biobank:
Population-based Biobanks
Disease-oriented Biobanks
By Application:
Therapeutic
Research
By Ownership:
National/Regional Agencies
Non-profit Organization
University
Private Organization

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By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

What are the aspects of this report that relate to regional analysis?

The report’s geographical regions include North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
The report provides a comprehensive analysis of market trends, including information on usage and consumption at the regional level.
Reports on the market include the growth rates of each region, which includes their countries, over the coming years.
How are the key players in the market assessed?
This report provides a comprehensive analysis of leading competitors in the market.
The report includes information about the key vendors in the market.
The report provides a complete overview of each company, including its profile, revenue generation, cost of goods, and products manufactured.
The report presents the facts and figures about market competitors, alongside the viewpoints of leading market players.
A market report includes details on recent market developments, mergers, and acquisitions involving the key players mentioned.

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