Global Biobanks Market to reach USD 98.4 billion by 2027.Global Biobanks Market is valued approximately at USD 65.9 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 6.30% over the forecast period 2020-2027. Biobanks is a method for gathering and storing biological resources that can be further used for diagnostics, ecosystem studies and analysis. Significant factors driving the growth of the global Biobanks industry include expanded financial support from private and government organizations. In addition, an improvement in the prevalence of chronic diseases is driving demand growth. However, ethical and regulatory concerns related to Biobanks are restricting business expansion. The emergence of the COVID-19 pandemic has taken the relevance of biobanks across the globe to the forefront. As a result, the rapid establishment of the COVID-19 biobank worldwide has witnessed the prospective selection of research biospecimens and the related clinical and patient data generated by COVID-19 patients with reported infection with the novel SARS-CoV-2 virus to allow high-quality research. For example, NHRI Biobank, Minister of Health and Welfare, was assigned to create a COVID-19 biobank at the beginning of February 2020 to collect blood samples of COVID-19 patients in an evolving way for Taiwanese researchers and industry. Both aspects are projected to have an impact on the Biobanks industry in the future. The outbreak of the pandemic has also had a positive impact on the expansion of the Biobanks market. Several chronic illnesses, such as cancer, cardiovascular disease, neurological disorders and immunological disorders, cannot be treated with traditional treatment due to adverse side effects. The risk of these side effects may be minimized by incorporating it into stem cell therapy, which serves as a curing agent to mitigate the harm caused by treatment doses. According to figures from the National Cancer Center, about 9.5 million people were confirmed to have cancer in the U.S. in 2019, and this figure is projected to rise to 19 million in 2024. Hence, the demand for cord blood for medicinal purposes, stimulating the development of the Biobanks market.
The regional analysis of global Biobanks Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. Asia-Pacific offers attractive prospects for major players operating in the Biobanks industry due to a growth in population and the presence of a large geriatric population base. In addition, the increase in health spending and the developing guidelines are expected to fuel demand growth in the country.
Major market player included in this report are:
Thermo Fisher Scientific Inc.
Panasonic Healthcare Holdings Co., Ltd.
Becton, Dickinson and Company
Qiagen N.V.
Merck KGaA
VWR Corporation
Tecan Trading AG
Brooks Automation, Inc.
Micronic Inc.
Hamilton Company
Greiner Holding AG
Promega Corporation

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
Solid Tissue
Cell Lines
Nucleic Acid
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 - 2017, 2018
Base year - 2019
Forecast period - 2020 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