By product and service, the biobanking market is segmented into equipment, consumables, services, and software. The equipment segment is expected to dominate the global biobanking market in 2017. Rising number of biobanks and the increasing number of biospecimens are factors increasing the demand for biobanking equipment.

Seattle, WA -- (SBWire) -- 02/12/2020 --Biobanking is a procedure to collect and preserve biological materials that can be further used for diagnosis, biodiversity studies, and research. The major factors that drive the growth of the global biobanking market include rise in funding support by private & government organizations. Furthermore, increased incidence of chronic disease further propel the market growth. However, ethical and legal issues related to biobanking restrict the market growth.

Biobanking are used for various applications, such as clinical research, life science and medical research, and regenerative medicine. Among these, clinical research accounted for the largest share. This can be attributed to the fact that clinical research for determining the safety and efficacy of medications, diagnostic devices, and products, is increasing globally.

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Factors driving the growth of this market include the increasing number of genomics research activities for studying diseases; advances in biobanking and the growing trend of conserving cord blood stem cells of newborns; government & private funding to support regenerative medicine research; and the growing need for cost-effective drug discovery and development.

North America is holds a major share in the global biobanks market, and it is expected to show a similar trend over the forecast period, without significant fluctuations. The United States has the largest expenditure for R&D and better healthcare infrastructure in the world. The market is in demand for the most advanced automated systems, and there is also a high adoption rate for new technology.

Biobanking technologies research presents a study by associated with primary as well as secondary research. The report shows the latest market insights abstracting upcoming trends and breakdown of the products and services in-depth. Secondary research was done to collect information on the whole, peer and root market. This research in an order to understand the current landscape of the market, especially in 2027.

Market Segment by Manufacturers, this report covers Thermo Fisher, Tecan Group, Qiagen, Hamilton, Brooks Automation, TTP Labtech, VWR, Promega, Worthington, Chart Industries, BD, Merck, Micronic, Panasonic, Greiner Bio One, Biokryo, Biobank, Biorep

The global biobanks market is moderately consolidated. Some of the segments are dominated by a few major players, while the other segments are distributed among multiple players. The market players are moreover, focusing on collaboration and partnership activities.

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Following factors Included in this Research:
- An overview of the global markets for biobanking,the storage of biological samples for the future.
- Analyses of global market trends, with data from 2015, estimates for 2020 and projections of compound annual growth rates (CAGRs) through 2027.
- Detailed analyses of how biobanks can lead to new products for specific diseases to overall industry trends.
- Breakdowns of the biobanking market by product, disease category, and geographic region or country.
- New products approved by the FDA, and those products expected to be approved within the forecast period.
- Analysis of the leading competitors, as well as emerging companies in the current worldwide biobanking market.
- Profiles of the manufacturers of leading products, and their specific product strategies are outlined.