- Equipment
- Incubators
- Centrifuges
- Alarm and Monitoring Systems
- Temperature Control Systems
- Others
- Consumables
Biobanking Market Size was valued at USD 43.8 billion in 2023 and is poised to grow at a CAGR of 6.3% from 2024-2030. Biological samples are kept in biobanks, a form of bio-repository, for use in research. Biobanks have grown to be a valuable tool for medical research, supporting a variety of modern fields like genomics and personalized medicine. Researchers may have access to data that represents a huge number of people through biobanks. Samples from biobanks and data derived from those samples are frequently used for research purposes by several researchers. Biological materials from humans, such as plasma, DNA that has been processed, blood, saliva, and other biospecimens, are stored, distributed, and collected in biobanks. The patient's personal information is kept on file with the assistance of biobanks. We require the proper atmosphere for maintaining the biobanks for keeping the biological resources. These samples and data are employed in the diagnosis of the diseases and the origins of such ailments. One such example is the association between single-nucleotide polymorphism and various diseases. Each sample's registrations for entering and leaving the systems are kept centrally, typically on a computer system that can be regularly backed up.
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Increasing chronic disorders is the major factor driving the growth of the biobanking market. The developing technology is also adding fuel for the growth of the biobanking market. The biobanks play a major role in the development of new drugs which likely to drive the growth of the market. The demand for the personalized medications, which are associated with minimal side effects prompting the patient population to approach for the personalized medications, which is likely to drive the growth of the biobanking market. The increasing healthcare expenditure and the developing healthcare infrastructure aiding the growth of the biobanking market. However, the high cost of the techniques is expected to hamper the growth of the market. The dearth of skilled healthcare professionals and handling issues related to biobanks maintenance is expected to hindering the growth of the market over the forecast period.
The CAGR of the biobanking market is 6.3% over the forecast period
Thermo Fisher Scientific Inc, Tecan AG, Beckman Coulter, Inc., VWR International, LLC, Qiagen N.V.
The Asia Pacific is the fastest-growing region for the bio-banking market