The Biobanks Market is projected to reach US$ 3,758.64 million by 2028 from US$ 2,418.31 million in 2021; it is estimated to grow at a CAGR of 6.5% from 2021 to 2028.
A biobank is a collection of biological samples (such as blood) as well as health data. Biobanks might be vast, including thousands of samples, or small, containing only a few hundred. Different sorts of samples and information are collected by different biobanks. The information and samples gathered are determined by the biobank's specific function. The term biobank covers collections of plants and animals, including human specimens.
Market leaders operating in the market have undertaken various organic growth strategies in the biobanks market. The biobanks market majorly consists of the players Thermo Fisher Scientific Inc., and Azenta Life Sciences. The companies have been implementing various strategies that have helped the growth of the company and in turn have brought about various changes in the market. The companies have utilized organic strategies such as launches, expansion, and product approvals. Moreover, the companies have utilized inorganic strategies including mergers acquisitions, partnership, and collaboration.
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According to our latest study on “Biobanks Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Product and Service, Sample, and Application,” the market is projected to reach US$ 3,758.64 million by 2028 from US$ 2,418.31 million in 2021; it is expected to grow at a CAGR of 6.5% from 2021 to 2028. The report highlights the key factors driving the market and prominent players with their developments in the market.
Based on product and service, the biobanks market is segmented into equipment, consumables, services, and software. The equipment segment is further categorized into storage equipment, sample analysis equipment, sample processing equipment, and sample transport equipment. The consumables segment is categorized into storage consumables, analysis consumables, processing consumables, and collection consumables. The services segment is further categorized into storage services, processing services, transport services, and supply services. The equipment segment held the largest share of the market in 2021. However, the consumables segment is expected to register the highest CAGR of 7.2% during 2021–2028.
The report segments the global biobanks market as follows:
The biobanks market is segmented based on product and service, sample, application, and geography. Based on product and service, the market is categorized into equipment (storage equipment, sample analysis equipment, sample processing equipment, and sample transport equipment), consumables (storage consumables, analysis consumables, processing consumables, and collection consumables), services (storage services, processing services, transport services, and supply services), and software. Based on sample, the biobanks market is segmented into blood products, human tissues, cell lines, and others. Based on the application, the market is categorized into regenerative medicine, life science research, and clinical research. Geographically, the Biobanks market is segmented into North America (the US, Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, and Rest of Europe), Asia Pacific (China, Japan, India, Australia, South Korea, and Rest of Asia Pacific), the Middle East Africa (the UAE, Saudi Arabia, Africa, and Rest of Middle East Africa), and South and Central America (Brazil, Argentina, and Rest of South and Central America).
The List of Companies
- THERMO FISHER SCIENTIFIC INC.
- Tecan Trading AG
- Hamilton Company
- Avantor, Inc.
- MICRONICS JAPAN CO., LTD.
- Brooks Automation, Inc
- Biovault Family
- Promega Corporation
- SciSafe Inc.
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