The market during the historical period (2014-2018) and is predicted to continue its dominance throughout the forecast period with an over 40.0% revenue share in 2024
NEW YORK, Oct. 24, 2019 /PRNewswire/ -- Biobanking Market Research Report: By Offering (Consumables, Equipment, Services, Software), Sample Type (Blood Products and Genetic Material, Human Tissues, Cell Lines, Biological Fluids, Human Waste Products), Storage Type (Manual, Automated), Application (Clinical Research, Life Science and Medical Research, Regenerative Medicine), Utility (Research, Routine, Epidemiology), Regional Insight (U.S., Canada, Germany, France, U.K., Italy, Spain, Japan, China, India, Brazil, Mexico, Saudi Arabia, South Africa, U.A.E.) - Industry Analysis and Forecast to 2024
Read the full report: https://www.reportlinker.com/p05815902/?utm_source=PRN
The major drivers for the biobanking market include the need for cost-effective drug discovery and development, rising prevalence of chronic diseases, increasing funding, and surging genomic research activities. The market valued $25.8 billion in 2018 and is expected to grow to $36.8 billion by 2024 at a 6.2% CAGR during the forecast period (2019–2024). Biobanking refers to the storage, analysis, processing, and transportation of samples and specimens obtained from humans, such as blood, genetic material, and excreta, for the purpose of clinical research.
On the basis of offering, the worldwide biobanking market is categorized into equipment, consumables, software, and services. Among these, the consumables category dominated the market during the historical period (2014–2018) and is predicted to continue its dominance throughout the forecast period with an over 40.0% revenue share in 2024. The reason for this is that consumables have to be purchased regularly, whereas software and equipment are only purchased once.
Clinical research, regenerative medicine, and life science and medical research are the primary applications of biobanking. Among these, clinical research generated 49.2% of the total revenue for the biobanking market in 2018, and it will still be the largest application during the forecast period. This is ascribed to the increasing need to established the safety and efficiency of drugs, medical devices, and other products used in the healthcare sector. The fastest growth in the forecast period is expected to be witnessed by the regenerative medicine application.
A key driver for the growth of the market is the increase in the incidence of chronic diseases. Obesity, high cholesterol, poor nutrition, tobacco consumption, lack of physical activity, and elevated blood pressure have been tied to four of the most rampant chronic diseases — cancer, cardiovascular diseases, chronic obstructive pulmonary disease, and type 2 diabetes. As per the Centers for Disease Control and Prevention, almost 60.0% of the total population in the U.S. has at least one chronic disease.
Market Segmentation by Offering
Consumables
Equipment
Services
Software
Market Segmentation by Sample Type
Blood Products and Genetic Material
Human Tissues
Cell Lines
Biological Fluids
Human Waste Products
Market Segmentation by Storage Type
Manual
Automated
Market Segmentation by Application
Clinical Research
Life Science and medical Research
Regenerative Medicine
Market Segmentation by Utility
Research
Routine
Epidemiology
Market Segmentation by Geography
North America Biobanking Market
By offering
By sample type
By storage type
By application
By utility
By country – U.S. and Canada
U.S. biobanking market
By offering
By sample type
By storage type
By application
By utility
Canada biobanking market
By offering
By sample type
By storage type
By application
By utility
Europe Biobanking Market
By offering
By sample type
By storage type
By application
By utility
By country – Germany, France, U.K., Italy, Spain, and Rest of Europe
Germany biobanking market
By offering
By sample type
By storage type
By application
By utility
U.K. biobanking market
By offering
By sample type
By storage type
By application
By utility
France biobanking market
By offering
By sample type
By storage type
By application
By utility
Italy biobanking market
By offering
By sample type
By storage type
By application
By utility
Spain biobanking market
By offering
By sample type
By storage type
By application
By utility
APAC Biobanking Market
By offering
By sample type
By storage type
By application
By utility
By country – Japan, China, India, and Rest of APAC
Japan biobanking market
By offering
By sample type
By storage type
By application
By utility
China biobanking market
By offering
By sample type
By storage type
By application
By utility
India biobanking market
By offering
By sample type
By storage type
By application
By utility
Latin America (LATAM) Biobanking Market
By offering
By sample type
By storage type
By application
By utility
By country – Brazil, Mexico, and Rest of LATAM
Middle East and Africa (MEA) Biobanking Market
By offering
By sample type
By storage type
By application
By utility
By country – Saudi Arabia, South Africa, U.A.E., and Rest of MEA
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