Global Biobanks Market to reach USD XX by 2027Global Biobanks Market is valued at approximately USD XX in 2020 and is anticipated to grow with a healthy growth rate of more than % over the forecast period 2021-2027. Biobanking is the collection and preservation of biological resources for use in diagnosis, biodiversity studies, and research. Biobanks provide a critical role in biomedical research, customized medication development, and preserving and updating age demographic databases. Expanding application areas of biobanked samples, increased financing from commercial and government organizations for biobanking, rising genomic research efforts, and increased investment in R&D activities by various healthcare firms are all driving the global biobanking market forward. For example, the German biobank node project received USD 4.15 million in financing from the Federal Ministry of Education and Research in January 2021 for a three-year period. Furthermore, in May 2021, the Victorian government allocated USD 5 million to the Doherty Institute's new COVID-19 biobank. In addition, the Medicines Discovery Catapult (MDC) identified one of the world's largest virtual biobanks in August 2020. The virtual network's rapid expansion now includes 330 clinical sites and 1.5 million bio-samples, expanding the types of clinical samples available for drug development and diagnostic processes. The rise of chronic diseases such as autoimmune diseases, cancer, and blood disorders is fueling the biobanking market's expansion. Furthermore, the rise in the number of people suffering from chronic diseases propels the market forward. However, high cost of automation may impede market growth over the forecast period of 2021-2027.

The regional analysis of the global Biobanks Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World (ROW). North America is the leading region across the world in terms of market share due to continuous investment in the collection, establishment, and processing of large-scale datasets in the region. Whereas Europe is also anticipated to exhibit the highest growth rate over the forecast period 2021-2027 due to rise in adoption of advanced technologies and increasing awareness of biobanking among healthcare professionals across the region.

Major market player included in this report are:

Thermo Fisher Scientific Inc.
Tecan Group Ltd.
Qiagen N.V.
Hamilton Company
Brooks Automation
TTP Labtech Ltd
VWR Corporation
Promega Corporation
Worthington Industries
Chart Industries

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Product and service:

Equipment
Consumables
Services
Software

By Sample Type:
Blood Products
Human Tissues
Nucleic Acids
Cell Lines
Others
By Application:
Regenerative Medicine
Life Science Research
Clinical Research

By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year -2018,2019
Base year -2020
Forecast period - 2021 to 2027.

Target Audience of the Global Biobanks Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors