Manual storage systems are projected to register 64% share in the biobanking market by 2027, given their low capital requisites. However, players in the biobanking market are increasingly striving to transform the landscape through the introduction of advanced software, which helps in reducing manual errors. Automated storage systems offer high precision and time-efficiency, which is likely to significantly increase their adoption in the foreseeable future. Automated storage systems are projected to register a CAGR of 7% during the forecast period (2020-2027).
Request Sample https://www.factmr.com/connectus/sample?flag=S&rep_id=4438
A recent study published by Fact.MR examines the growth potential of the biobanking market, and projects CAGR to be above average during the forecast period.
Key Highlights of Biobanking Market Study
- China shows strong growth prospects in the biobanking market with an estimated CAGR of around 8.6% during 2020-2027. The country has three biobanks – China Kadoorie Biobank, Zhongnan Biobank, and Cancer Centre Tissue Bank, which work towards investigating the genetic causes of infectious and chronic diseases.
- Demand for biobanking software and services is growing at a relatively high rate as compared to equipment and consumables, as these products are used to minimise errors and increase the accuracy of sample data. Biobanking software and services are projected to be deployed at the highest CAGR of around 7.5% in the biobanking market during the forecast period.
- Blood products are expected to remain key biospecimen in the biobanking market, exceeding the storage of other samples, as demand for blood transfusion and DNA is increasing for the diagnosis and treatment of chronic diseases.
Request Methodology – https://www.factmr.com/connectus/sample?flag=RM&rep_id=4438
Biobanking Market – Assessment of Key Segments
Authors of this comprehensive study have classified the biobanking market into key segments for an in-depth study of the biobanking market. Categorisation of the biobanking market is based on storage, application, biospecimen, product, and region.
This detailed study also offers information about the incremental opportunity present in the biobanking market during the forecast period. Key segments considered while studying the biobanking market include:
Buy Now – https://www.factmr.com/checkout/4438
Product Innovation within the Boundaries of Environmental Sustainability
Product innovation is a key strategy adopted by players in the biobanking market. As biobanking of biospecimen requires freezing temperature for storage, leading players are, in turn, making a shift towards offering products with the least possible carbon footprints. Thermo Fisher Scientific, Inc. is an ideal company exhibiting this strategic move. In 2017, the company announced that it had received the ENERGY STAR certification for its temperature freezers from the U.S. Environmental Protection Agency to reduce energy consumption, while ensuring the protection of biospecimen.
Players operating in other tiers seek expansion in the fragmented biobanking market through collaborations, acquisitions, and partnerships, to achieve better exposure of their products.
Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Our sales offices in United States and Dublin, Ireland. Headquarter based in Dubai, UAE. Reach out to us with your goals, and we’ll be an able research partner.
US Sales Office:
11140 Rockville Pike
Rockville, MD 20852
Tel: +1 (628) 251-1583