Biobanking Equipment Market to Surpass US$ 3.2 Billion by 2026 - Coherent Market Insights

Published On : Dec 14, 2018

The global Biobanking Equipment Market By Product Type (Equipment, Media, Consumables, and Others), By Sample Type (Human Tissue and Tumor Cells, Bio-Fluids, Stem Cells, Umbilical Cord, and DNA/RNA), By End User (Hospitals, Research Organization, Cell and Tissue Banks, Blood Banks, and DNA Banks) and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated at US$ 1,778.3 million in 2017, and is projected to exhibit a CAGR of 7.5% over the forecast period (2017 – 2026), as highlighted in a new report published by Coherent Market Insights.

Biobank potentially hold key to the future of breakthroughs in scientific research, drug discovery, and clinical and translational medicine. Biobanking is an important tool in understanding the pathophysiology of various illness. Genetic studies based on biobanking are increasing, as researchers recognize the need for large amounts of samples to identify the genetic basis of susceptibility to common complex diseases. Large scale population biobanking projects link genetic data with information on health status, lifestyle, and environmental factors.

The government is focusing on building biobank due its increased demand and application. For instance, in February 2018, the Thailand Centre of Excellence for Life Sciences (TCELS), Thailand Research Fund (TRF), and Ramathibodi Hospital’s Centre for Medical Genomics collaborated with Shenzen-based BGI Genomics, one of the world’s genome sequencing centers, to collect the entire genome sequence for Thais. The five-year pilot project will collect the whole 19,000 genome sequencing of 10,000 Thai volunteers. The results of the pilot project would then form the initial data as a national ‘bio-bank’ for Thais.

Browse 27 Market Data Tables and 34 Figures spread through 174 Pages and in-depth TOC on “Biobanking Equipment Market, By Product Type (Equipment, Media, Consumables, and Others), By Sample Type (Human Tissue and Tumor Cells, Bio-Fluids, Stem Cells, Umbilical Cord, and DNA/RNA), By End User (Hospitals, Research Organization, Cell and Tissue Banks, Blood Banks, and DNA Banks) and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Global Forecast to 2026”

To know the latest trends and insights prevalent in the Biobanking Equipment Market, click the link below:

https://www.coherentmarketinsights.com/market-insight/biobanking-equipment-market-2365

Manufacturers in the biobanking equipment industry are focused on innovating the product for safe sample storage. For instance, in September 2017, Micronic launched a new screw cap recappers to the company’s sample handling equipment line. In December 2017, the company launched high volume storage tube to optimize the sample traceability during clinical research. Furthermore, in October 2017, the Panasonic Biomedical Sales Europe B.V. introduced a new VIP ECO Ultra low temperature upright freezer for storing the sample.

Furthermore, extensive development of personalized treatments by research organizations to develop effective therapies using biological samples is expected to propel the demand for biobank market during the forecast period. For instance, in 2016, Illumina signed 4 biobank deals, with Partners HealthCare, Montreal Heart Institute, University of Colorado, and Vanderbilt University with an objective to improve healthcare and develop personalized medicines.

Key takeaways of the Biobanking Equipment Market:

  • The global biobanking equipment market growth is expected to exhibit a CAGR of 7.5% over the forecast period (2017–2026), owing to increasing adoption of precision medicine. For instance, in November 2018, the FDA approved an advanced precision medicine larotrectinib, a drug for a wide range of cancers based on a shared mutation rather than the tumors' locations.
  • Key players operating in the biobanking equipment Market include Thermo Fisher Scientific Inc., BioLife Solutions, Inc., Beckman Coulter, Inc., Panasonic Biomedical Sales, BioCision, Taylor-Wharton International, VWR International and So-Low Environmental Equipment Co. and Tecan AG.

About Coherent Market Insights:

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

Contact Us:

Mr. Shah
Coherent Market Insights
1001 4th Ave, 
#3200 
Seattle, WA 98154
Tel: +1-206-701-6702
Email: [email protected]

"How Can I Help You" ?

Finding it difficult to find the research that would cater to your business demands? Give us a chance to help you. One of our Research Consultants will connect to provide a customized solution.

Coherent Market Insights Benefits

  • Custom Research Solution

    Talk to our research consultant to design an exclusive report as per your research needs.

  • Customer Fulfilment

    We aim to fulfil client's research demands with tailored research solutions.

  • Quick Turnaround Time Reports

    We aim to provide research studies in quickest turnaround time and in a much cost effective manner.

  • 360-degree Approach

    We cover each industry from supply and demand side with an aim to provide a most holistic research study.

  • Assured Quality

    We strive to provide most accurate and reliable research findings in our research reports.