Portland, OR, Oct. 28, 2020 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research the global biobanking market accounted for $47.06 billion in 2017 and is expected to reach $68.08 billion by 2023, registering CAGR of 4.6% during the forecast period. The report presents in-depth analyses of the global biobanking market by closely monitoring the industry trends, drivers & opportunities, top investment pockets, key growth strategies, and competitive landscape.
Proactive support for biobanking by private & government organizations and high prevalence of chronic diseases drive the growth of the global biobanking market. However, ethical and legal issues associated with biobanking hamper the market growth. On the other hand, increase in R&D activities for application of biobanking and untapped opportunities in the developing regions are expected to create lucrative prospects for the market players in the coming years.
Download Sample Copy of this Report : https://www.alliedmarketresearch.com/request-sample/2798
The solid tissue segment is expected to register the fastest CAGR of 5.9% during the study period. However, the blood products segment held the largest share, contributing to more than two-fifths of the total revenue
The research segment held the largest share of the market, contributing more than two-thirds of the total revenue. However, the therapeutic segment is estimated to manifest the fastest CAGR of 5.1% during the forecast period, owing to increase in awareness for biobanks and rise in focus on R&D related to the development of personalized medicines.
The population-based biobanks segment is expected to witness the fastest CAGR of 5.2% during the forecast period. However, the disease-oriented biobanks held the largest share of the market in 2017, contributing to more than four-fifths of the total revenue.
National/Regional agency segment contributed the largest share, accounting to more than two-fifths of the total revenue. However, the private segment is expected to register the fastest CAGR of 5.7% during the study period, as pharma and biotech companies have strengthened their presence in the biobank sector. The other segments analyzed in the report include non-profit organization and university.
For Purchase Enquiry at: https://www.alliedmarketresearch.com/purchase-enquiry/2798
Europe held the largest market share in 2017, contributing about 41% of the total revenue and is projected to dominate the global market throughout the forecast period. However, Asia-Pacific region is expected to register the fastest CAGR of 5.7% from 2018 to 2025. The other regions analyzed in the report include North America and Latin America, Middle East and Africa (LAMEA).
The key market players analyzed in the report include, ASKION GmbH, Cureline, Inc., Firalis S.A., LabVantage Solutions, Inc., PrecisionMed, Inc., CTI BIOTECH, Excilone SARL, Hamilton Company, LGC Limited, and ProMedDx LLC.
Avenue Basic Plan | Library Access | 1 Year Subscription |
Sign up for Avenue subscription to access more than 12,000+ company profiles and 2,000+ niche industry market research reports at $699 per month, per seat. For a year, the client needs to purchase minimum 2 seat plan.
Avenue Library Subscription | Request for 14 days free trial of before buying: https://www.alliedmarketresearch.com/avenue/trial/starter
Get more information: https://www.alliedmarketresearch.com/library-access
Similar Reports:
Bio-implants Market - Global Opportunity Analysis and Industry Forecast, 2013 - 2020
Bio-alcohols Market - Global Opportunity Analysis and Industry Forecast, 2014-2022
World Bio-Banks Market - Opportunities and Forecasts, 2020-2027
Intraosseous Infusion Device Market -Global Opportunity Analysis and Industry Forecast, 2020-2027
About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.