Global Biobanking Equipment Market 2020 (Includes Business Impact of COVID-19)

                                          
“Global Biobanking Equipment Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2027” is a recent report generated by Trusted Business Insights. The global biobanking equipment market report has been segmented on the basis of product type, sample type, end user, and region.

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Global Biobanking Equipment Market: Overview

Bio banking equipment used in biorepository in order to stores biological samples an associated data for present and future research purposes. Biobank plays important role in various domains of biomedical research such as pharmacogenomics, genetic epidemiology, molecular diagnostics, and molecular pathology. Biobank can be store purified blood, saliva, plasma, tissue sample and DNA samples. Biobanking improves the prevention, treatment, and diagnosis of wide range of disease such as heart diseases, cancer, diabetes, arthritis, eye disorder, and others.

Global Biobanking Equipment Market: Dynamics

Increasing demand for personalized medicine for developing effective therapies. Personalized medicine suggest treatments based on need, preferences, and characteristics of patients and increasing organizations focus for developments in personalized treatments are major factors expected to drive growth of the global market over the forecast period.  In addition, rising application of biobanking in across various medical field such as cardiology, oncology, neurology, and orthopaedics is another factor expected to further fuel growth of the target market during the forecast period.

Furthermore, increasing adoption of precision medicine, coupled with rising awareness of stem cell treatment and bio-preservation is another factor expected to boost growth of the market in the near future. Moreover, increasing research and developments activities in precision medicine and molecular biology is another factor expected to propel growth of the target market in the near future.

However, lack of confidentiality, low cost substitute techniques, and stringent reimbursement policies are major factors expected to restrain growth of the target market over the forecast period.

Ongoing trend observed in the target market is preservation of newborns cord blood stem cells and this trend is expected to continue over the forecast period. Increasing consumer focus towards differentiating their services which are based on value-added services and automation in already existing technology are expected to create revenue opportunities for market over the forecast period.

Global Biobanking Equipment Market: Segment Analysis

On the basis of product type, the equipment segment is expected to register significant share in terms of revenue over the forecast period. On the basis of end user, the hospital segment is expected to account for highest share over the forecast period, owing to increasing demand for biobank equipment for various disease treatments.

Global Biobanking Equipment Market: Regional Analysis

The market in North America is expected to dominate the global market in terms of revenue over the forecast period followed by Europe, owing to increasing awareness and initiatives regarding the precision medicine across various countries in the region. The market in Asia Pacific is expected to witness significant growth in terms of revenue over the forecast period, owing to increasing biobanking related activities across various countries in the region. The market in Latin America anticipated to witness average growth over the forecast period, followed by Middle East and Africa in the global market.

Global Biobanking Equipment Market Segmentation:

Segmentation by product type:

Equipment
Refrigerators and Freezers
Liquid Nitrogen Supply Tanks
Cryogenic Storage Systems
Media
Optimized Pre-Formulated Media
Non-Optimized Isotonic Formulation Media
Consumables
Others

Segmentation by sample type:

Human Tissue and Tumor Cells
Bio-fluids
Stem Cells
Umbilical Cord
DNA/RNA

Segmentation by end user:

Hospitals
Research Organizations
Blood Banks
Others (DNA Banks and Cell and Tissue Banks)