Biobanking for Drug Discovery & Development Likely to Boost Sales revenue in the U.S Market
The value of the worldwide biobanking market is anticipated to increase from US$ 41 billion in FY 2021 to US$ 43.9 billion in FY 2022. The industry saw a Y-o-Y increase of 7.2% over the past year. Sales of biobanking are anticipated to grow at a CAGR of 7.25% between 2022 and 2032, reaching a value of US$ 88 billion by the end of that year.
Up until 2032, the worldwide biobanking market is anticipated to expand in absolute terms by $88 billion. During the historical assessment period of 2015–2021, the demand for incubators and centrifuges will continue to grow at a CAGR of 8%, while the demand for biobanking for therapies grew at a pace of 8.1%.
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How Opportunistic are Growth Prospects across the U.S Market?
From 2022 to 2032, the biobanking sector will grow at its fastest rate in the United States, at a CAGR of 8.5%. Through 2032, the market is expected to generate dollar opportunities totaling US$ 575 million and reach a value of US$ 1,530 million. Growth is ascribed to developments in stem cell technologies in regenerative medicine.
Manufacturers in the biobanking sector now have a wide range of growth potential thanks to technological developments in drug discovery and increased funding for personalised and regenerative medicine in the United States. The province’s market is expanding as a result of the rise in cancer, cardiovascular, and infectious disorders.
The need for biobanking products is also being driven by the large number of COVID-19-related clinical trials and the exploding use of stem cell therapies for the treatment of numerous chronic diseases.
It is becoming more and more important to store and preserve biological samples, such as blood, tissues, and nucleic acids, which are needed for research projects to advance biomedical research and identify disease-relevant biomarkers. The primary driver for the predicted period is thought to be an increase in research activity.
Key Players
• Thermo Fisher Scientific Inc.
• Tecan Group Ltd.
• Qiagen N.V.
• Hamilton Company
• Brooks Automation
• TTP Labtech Ltd
• VWR Corporation
• Promega
• Worthington Industries
• Chart Industries
• Becton Dickinson and Company
• Merck KGaA
This global Biobanking industry research analysis includes industry share, size, consumption, cost, revenue, CAGR, production, gross margin, and market influencing factors. This research is a complete numerical examination of a firm that provides data for generating market growth and success strategies. The study provides industry size, revenue, gross margin, price, and market share estimations, as well as cost structure and decision-making growth rates. It offers a comprehensive analysis of the market, covering data on several factors such as drivers, constraints, opportunities, and threats. This data can assist stakeholders in making informed decisions prior to investing.
Secondary research comprises an in-depth investigation of stock prices, retail transactions, and other relevant facts. Domestic and global politics, new buying patterns, composite economic predictions, technical breakthroughs, and the environmental implications of the Biobanking sectors are all thoroughly examined. Furthermore, it contains a specialized segmentation focusing on a number of categories, allowing for a comprehensive examination of any consumer goods. Similarly, the study estimates Biobanking market share based on existing and predicted market growth.
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This research gives extensive market knowledge with leading profiles in the Biobanking market. It contains data that has been verified using a limited number of research approaches and primary or secondary sources. Elements including drivers, share, size, market revenues, potential and problems, important players, domination nations, changing Biobanking market dynamics, economic instability, and other competitive features are thoroughly recognized by experts SWOT, PESTEL, primary and secondary research procedures, and different analytic procedures are used to develop the consumer study.
The thesis includes a wide range of themes, such as important product offers, industry history, important statistics, risk analysis, marketing and sales strategies, product growth, recent advancements and new product releases, innovation and progress, and a variety of Biobanking business practices.
Key Segments Covered in the Biobanking Industry Survey
- Biobanking by Storage
- Manual Biobanking
- Automatic Biobanking
- Biobanking by Application
- Biobanking for Therapeutics
- Biobanking for Clinical Diagnostics
- Biobanking for Drug Discovery & Development
- others
- Biobanking by Biospecimen
- Biobanking for Blood Products
- Biobanking for Human Tissues
- Biobanking for Cell Lines
- Biobanking for Nucleic Acids
- Biobanking for Others
- Biobanking by Product
- Biobanking Equipment
- Temperature Control Systems
- Freezers & Refrigerators
- Cryogenic Storage Systems
- Thawing Equipment
- Biobanking Incubators & Centrifuges
- Biobanking Alarms & Monitoring Systems
- Biobanking Accessories & Other Equipment
- Biobanking Consumables
- Cryovialsand Cryomolds
- Tubes
- Others
- Biobanking Equipment
- Biobanking by Region
- North America Biobanking Market
- Latin America Biobanking Market
- Europe Biobanking Market
- Asia Pacific Biobanking Market
- Middle East & Africa Biobanking Market
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Key Points Covered in the Biobanking Report:
• The Biobanking market study often examines important trends, risks and incentives, components, industry conditions, and difficulties in the global market.
• The report employed a variety of data and graphs to present a more complete picture of the Biobanking market.
• The global analysis contained a preliminary assessment of the industry’s size as well as a full review of the sector.
• This research gives a fast snapshot of the current situation of worldwide regions. The Biobanking report includes top sellers, unions, stores, malls, and enterprises.
• The report also contains comprehensive insights into the market segmentation.
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