DUBLIN--(BUSINESS WIRE)--Jan 11, 2023--

The “Biobanking Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” report has been added to ResearchAndMarkets.com’s offering.

The global biobanking market size reached US$ 53.3 Billion in 2021. Looking forward, the publisher expects the market to reach US$ 77.6 Billion by 2027, exhibiting a CAGR of 6.46% during 2021-2027.

Companies Mentioned

• Brooks Automation Inc.
• Bay Biosciences LLC
• Boca Biolistics
• Ctibiotech
• Cureline Inc.
• Firalis
• Greiner Bio-One International GmbH
• Hamilton Company
• Merck KGaA
• ProteoGenex Inc.
• Thermo Fisher Scientific Inc.
• VWR Corporation (Avantor Inc.).

Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.

Biobanking refers to the process of analyzing and storing information of human biospecimens, which are collected from healthy volunteers or people with a particular condition. This information is used in research and academic studies to improve the understanding of health and different diseases.

Presently, modern biobanks have large-scale analysis of specific disease biomarkers, which include biological or digital material with well-annotated clinical and biological data. They provide a basis for improving personalized medical approaches wherein effective biomarker identification is crucial for disease diagnosis and prognosis.

Biobanking nowadays is gaining widespread adoption in collecting high-quality and well-annotated human biospecimens, understanding the pathogenic mechanisms, and identifying therapeutic targets of coronavirus disease (COVID-19). Apart from this, due to the increasing prevalence of new infectious and chronic diseases, there is a rise in the demand for biobanking to develop diagnostics that can accurately and quickly identify pathogens.

This can also be accredited to the growing aging population, in confluence with the escalating demand for regenerative medicine and personalized treatment across the globe.

Moreover, developments in genomics, metagenomics, proteomics, disease biology, bioenergy, environmental remediation, and allied fields are contributing to the market growth. Besides this, health agencies of numerous countries are investing in virtual biobank network models that offer a faster and sustainable solution. These network models offer electronic databases that help investigators to locate biospecimens and data mining from multiple biobanks.

Furthermore, leading market players are offering a diverse portfolio of biobanking products and services that enable sharing of insights and critical information to advancing science. These innovations are projected to strengthen the growth of the market in the coming years.

Key Market Segmentation:

The publisher provides an analysis of the key trends in each sub-segment of the global biobanking market report, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on specimen type, biobank type, application and end user.

Breakup by Specimen Type:

• Blood Products
• Solid Tissue
• Cell Lines
• Nucleic Acid
• Others

Breakup by Biobank Type:

• Population-based Biobanks
• Disease-oriented Biobanks

Breakup by Application:

• Therapeutics
• Research

Breakup by End User:

• Academic Institutions
• Pharma and Biotech Companies

Breakup by Region:

• North America
• United States
• Canada
• Asia-Pacific
• China
• Japan
• India
• South Korea
• Australia
• Indonesia
• Others
• Europe
• Germany
• France
• United Kingdom
• Italy
• Spain
• Russia
• Others
• Latin America
• Brazil
• Mexico
• Others
• Middle East and Africa

Key Questions Answered in This Report

For more information about this report visit https://www.researchandmarkets.com/r/8s1edq

View source version on businesswire.com:https://www.businesswire.com/news/home/20230111005612/en/

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KEYWORD:

INDUSTRY KEYWORD: HEALTH BIOTECHNOLOGY

SOURCE: Research and Markets

Copyright Business Wire 2023.

PUB: 01/11/2023 08:55 AM/DISC: 01/11/2023 08:55 AM

http://www.businesswire.com/news/home/20230111005612/en