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Market Industry Reports (MIR) has published a new report titled Biobanking Market - Industry Analysis, Size, Share, Growth, Trends, and Forecast, 20192030. According to the report, the biobanking market is estimated to be over US$ 1,900 Mn in 2018. It is anticipated to grow at a CAGR of 7.2% from 2019 to 2030.

Biobanking market plays a significant role in the development of biomedical and translational science due to the easy availability of biological samples to discover disease-specific biomarkers. A rising number of research activities used for diagnosis, prognosis and foreseeing drug reactions is expected to support the growth of this market. Increase in public and private funding for the creation of more biobanks is likely to positively contribute to the growth of the global biobanking market.

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Major key Players:

Thermo Fisher Scientific Inc., PHC Holdings Corporation, QIAGEN N.V., Becton, Dickinson and Company, Merck KGaA, Hamilton Company, Avantor, Inc., Tecan Group Ltd., BioCision, Promega Corporation among others.

Biobanking market Segmentation:

Product & Services:

Equipment

Consumables

Services

Softwares

Sample Type:

Blood Products & Services

Biological Fluids

Cell Lines

Human Tissues

Nucleic Acids

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Storage Type:

Automated

Manual

Application:

Clinical Research

Life Science Research

Regenerative Medicine

The preservation of cord blood stem cells is an emerging practice that promises a cure for more than 60 different types of diseases. Owing to increasing awareness about stem cell therapies, the large numbers of parents are choosing umbilical cord banks for their children. Moreover, many embryonic disorders can be investigated and treated through stem cell research. For instance, the transformation of early stem cells into different cell types helps to identify if there is any genetic error and can be resolved before the symptoms begin to manifest in the infant.

The main consideration limiting the development of the worldwide biobanking market is the significant expense of mechanization. In addition, the issues related with the obtainment of biospecimen test can hamper the development of biobanking market. For example, when the examples are moved starting with one area then onto the next area for preparing, the time interim among assortment and adjustment may prompt loss of some shaky markers. Also, there are sure moral issues for putting away the organic examples of human mishaps the general market development.

Original post:
Biobanking Market to Witness an Outstanding Growth During 2019-2030 :Thermo Fisher Scientific Inc., PHC Holdings Corporation, QIAGEN NV - Media...