Portland, OR -- (SBWIRE) -- 06/26/2018 -- Biobank is a biorepository meant to collect and preserve biological materials that are used for diagnosis, biodiversity studies, and research. In addition, it is used to support the research of most common types of genetic disorders to develop personalized medicines and to maintain and update age demographic databases.

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The global biobanking market garnered $47,062 million in 2016, and is estimated to reach $68,084 million by 2023, growing at a CAGR of 4.6% from 2017 to 2023. Rise in funding by private & government organizations for biobanking and increase in application areas of biobanked samples are the major factors that drive the growth of the global biobanking market. Moreover, upsurge in incidence of diseases such as cancer supports the market growth, owing to the fact that biobanked specimens are used in the treatment of several chronic diseases. However, ethical issues related to biobanking and lack of awareness about it are expected to impede the market growth. On the contrary, advancements in stem cell research and unmet medical needs in the emerging nations are anticipated to provide lucrative opportunity for the market expansion.

The global biobanking market is segmented by specimen type, type of biobank, ownership, application, and region. Based on specimen type, the market is categorized into blood products, solid tissue, cell lines, and others. On the basis of ownership, it is divided into national/regional agencies, nonprofit organization, university, and private. The applications covered in the study include therapeutic and research. Depending on type of biobank, the market is bifurcated into population and disease-oriented biobank. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

KEY BENEFITS

This report provides an extensive analysis of the current and emerging trends and dynamics in the global biobanking market to identify the prevailing opportunities.
It presents a competitive landscape of the global market to predict the competitive environment across geographies.
Comprehensive analysis of factors that drive and restrict the market growth is provided.
Region- and country-wise analyses are provided to understand the market trends and dynamics.
KEY MARKET SEGMENTS

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By Specimen Type
Blood products
Solid tissue
Cell lines
Others

By Application
Therapeutic
Research

By Type of Biobank
Population-based biobanks
Disease-oriented biobanks

By Ownership
National/regional agencies
Nonprofit organization
University
Private

By Region
North America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
Japan
China
India
Australia
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA
The key players profiled in this report are as follows:

ASKION GmbH
CTI BIOTECH
Cureline, Inc.
Excilone SARL
Firalis S.A.
Hamilton Company
LabVantage Solutions, Inc.
LGC Limited
PrecisionMed, Inc.
ProMedDx LLC

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