Bio banking Market Analysis, Market Size, Application Analysis, Regional Outlook, Competitive Strategies And Forecasts, 2017 To 2022
The bio banking market is expected to reach $2.69 billion from $1.85 billion; at a CAGR of 7.8% from 2017-2022 while Research Report covers top 13 Global Leaders with Competitive Strategies, Top Segments, Market Trends, Share, and Regional Outlook in near Future
Pune, India – August 3, 2017 /MarketersMedia/ —
The bio banking market is expected to reach USD 2.69 billion by 2022 from USD 1.85 billion in 2017, at a CAGR of 7.8%. Factors driving the growth of this market include the increasing number of genomics research activities for studying diseases; advances in bio banking and the growing trend of conserving cord blood stem cells of new born; government & private funding to support regenerative medicine research, and the growing need for cost-effective drug discovery and development. On the other hand, the growth of this market is hindered to some extent due to the high cost of automation and issues related to bio specimen sample procurement.
The key players in the bio banking market include Thermo Fisher Scientific Inc. (U.S.), Tecan Group Ltd. (Switzerland), Qiagen N.V. (Germany), Hamilton Company (U.S.), Brooks Automation (U.S.), TTP Labtech Ltd (U.K.), VWR Corporation (U.S.), Promega Corporation (U.S.), Worthington Industries [(Taylor Wharton, U.S.)], Chart Industries (U.S.), Becton, Dickinson and Company (U.S.), Merck KGaA (Germany), Micronic (Netherlands), LVL Technologies GmbH & Co. KG (Germany), Panasonic Healthcare Holdings Co. Ltd (Japan), Greiner Bio One [Greiner Holding AG, Austria)], Biokryo GmbH (Germany), Biobank AS (Norway), Biorep Technologies Inc. (U.S.), Cell & Co Bioservices (France), RUCDR infinite biologics (U.S.), Modul-Bio (France), CSols Ltd (U.K.), Ziath (U.K.), and LabVantage Solutions Inc. (U.S.).
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“Automated storage is expected to register the highest CAGR during the forecast period”
The bio banking market is classified by storage type into manual and automated storage. The automated storage type segment is expected to grow at a higher rate during the forecast period. This is attributed to launch of new and advanced automated storage equipment and increasing demand for the quality storage of samples.
“Regenerative medicine to dominate the market during the forecast period”
The bio banking market is segmented based on applications regenerative medicine, life science research, and clinical research. In 2017, the regenerative medicine segment is expected to command the largest share and is also estimated to grow at the fastest rate as compared to other segments. This can be attributed to increasing research activities in the field of regenerative medicine and rising demand for well-annotated and quality bio samples for research.
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“Asia-Pacific is estimated to grow at the highest CAGR during the forecast period”
Geographically, the bio banking market is dominated by North America, followed by Europe. The Asia-Pacific region is estimated to grow at the fastest rate which can be attributed to the large population in China and India, increasing research in regenerative medicine, and improving life sciences research infrastructure in the region.
The primary interviews conducted for this report can be categorized as: By Company Type – Tier 1 – 70% and Tier 2 – 30%, By Designation – C level – 62%, Director level – 21%, Others – 17%, By Region – North America –50%, Europe – 20%, Asia- Pacific – 30%
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Study Coverage: The report analyses the bio banking market by product and service, sample type, storage type, application and regions. Apart from comprehensive geographic & product analysis and market sizing, the report also provides a competitive landscape that covers the growth strategies adopted by industry players over the last three years.
In addition, the company profiles comprise the product portfolios, developments, and strategies adopted by prominent market players to maintain and increase their shares in the market. Market research data, current market size, and forecast of the future trends will help key market players and new entrants to make the necessary decisions regarding product offerings, geographic focus, change in strategic approach, and levels of output in order to remain successful in the type, products, applications, end users, and regions.
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