According to Fact MR’s recent market research, sales of Biobanking Software to swell at propelled CAGR through 2031, as investment towards expansion of healthcare infrastructure continues rising. The goal of the survey is uncover growth opportunities, key trends, growth drivers, and challenges. It also provides recommendations to assist businesses in preparing for unforeseen challenges.
Focus on improving overall patient care will remain a chief growth driver. Besides this, Biobanking Software market will continue gaining from increasing willingness among patients and families to spend on advanced healthcare.
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The market study done by Fact.MR gives exclusive information about how the market will grow. The study identifies crucial trends that are determining the growth of Biobanking Software market. This newly published report sheds light on vital dynamics, such as the drivers, restraints, and opportunities for key market players as well as emerging players associated with the production and supply. The latest report by Fact.MR provides detailed Market Analysis of Biobanking Software
The report offers actionable and valuable market insights of Biobanking Software. The latest report by Fact.MR provides details on the present scenario of the market across various regions along with the historic data and forecast of the market. The report also includes information on the sales and demand of Biobanking Software Market across various industries and regions.
Digital Transformation in Healthcare Presenting Opportunities for Biobanking Software Market Growth
Healthcare organizations around the world are deploying digital tools to accommodating changing consumer preferences. They are pressing on solving the long-standing challenge pertaining to care model innovation.
Considering this, the focus on making healthcare affordable and more transparent will increase. Adoption of care model innovation in healthcare will have a profound impact on the Biobanking Software market.
This newly published and insightful report sheds light on Market Insights of Biobanking Software, key dynamics, their impact on the overall value chain from suppliers to end-users and Growth of Biobanking Software Market.
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).
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.
- The set-up cost of a biobank can vary from US$ 3 Mn to US$ 6 Mn. Sample handling, storage management, human resources, instruments, consumables, and software further add up to the already high cost of biobanking, which is likely to act as a barrier to the growth of the biobanking market.
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A senior research analyst at Fact.MR opines,
“Though the application of biospecimen for the development of therapeutics is growing, there will be a notable spurt in the adoption rate of bio-samples for clinical diagnosis to understand cell structure.”
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.
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:
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Report Benefits & Key Questions Answered
- Biobanking Software Category and segment level analysis: Fact MR provides a detailed analysis of the factors influencing sales growth across key segments. It highlights key growth drivers and provides useful information for identifying sales prospects at the regional and local level.
- Biobanking Software Historical volume analysis: The report provides a comparison of Biobanking Software’s historical sales and projected sales performance for 2021-2031.
- Biobanking Software Manufacturing trend analysis: The report offers a detailed analysis of manufacturing trends in the Biobanking Software market. It carefully gauges the impact of changing healthcare needs of key demographics globally
- Biobanking Software Consumption by demographics: The report investigates consumer behavior affecting Biobanking Software demand outlook for the assessment period. Effect of their keenness for digital trends on Biobanking Software market is carefully analyzed
- Post COVID consumer spending on Biobanking Software: Healthcare industry has been largely influenced by COVID-19 pandemic. The Fact MR Market survey analyzed consumer spending post COVID-19. It assesses how current trends that will influence expenditure on healthcare services, thus affecting Biobanking Software market growth.
More Valuable Insights on Biobanking Software Market
Fact.MR, in its new report, offers an unbiased Market Analysis of Biobanking Software, Sales and Demand of Biobanking Software, analyzing forecast statistics through 2019 and beyond. The study reveals growth projections on the basis of various criteria.
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