Global Biobanking Market to Amount to USD 2.69 Bn by 2022, Expects M&M in Its Cutting-Edge Research Report Recently Added at MarketPublishers.com29 Aug 2017 • by Natalie Aster
LONDON – In the current year, the value of the biobanking industry is estimated at appr. USD 1.85 billion; it is anticipated to gain momentum at a 7.8% CAGR during 2017-2022 to reach USD 2.69 billion by the end of the projected period.
The major forces responsible for the biobanking market growth comprise remarkable advances in biobanking, uptake in genomics R&D, supportive government initiatives for regenerative medicine research, rising trend of conserving cord blood stem cells of newborns as well as elevating need for cost-effective drug discovery and development.
Meantime, the biobanking industry faces a number of challenges, for example, issues associated with biospecimen sample procurement and high cost of automation.
The automated storage segment is expected to exhibit the highest growth pace over 2017-2022, driven by introduction of novel, advanced automated storage equipment along with escalating demand for samples high-quality storage solutions.
On the basis of application, the overall biobanking market is predicted to be dominated by the regenerative medicine sector; this sector is also anticipated to increase at the highest CAGR through 2022.
Regionally, the market is reigned by North America, whilst APAC is the fastest-growing biobanking market.
Cutting-edge research publication “Biobanking Market by Product and Service, Sample Type, Application - Global Forecast to 2022” prepared by MarketsandMarkets (M&M) is an unrivalled reliable source of data on the biobanking industry performance, trends and dynamics. Furthermore, this topical study features the key market growth limiting and driving forces, sheds light on the top development trends, presents insights into the historical background, describes the current scenario at different geographical scales and includes a detailed market segmentation analysis. Besides, this report covers the leading players in the biobanking market, features the competitive landscape, reviews the recent industry developments and business activities, points out future growth opportunities and barriers, etc. Additionally, a future outlook with forecasts up to 2022 is at hand.
Follow to MarketsandMarkets page to get access to a full collection of the publisher’s in-demand reports.