Bio-Banks Market: Repository Of Analysis And Information For Every Facet Of The Market

Pune, Maharashtra, India, February 25 2021 (Wiredrelease) Allied Analytics –:Biobank acts as a biorepository for the storage of biological samples (usually of human origin) which can be used in scientific research. Biobank facilitates research in the field of personalized medicine and genomics.

The global market size of Bio-Banks is $XX million in 2019 with XX CAGR, and it is expected to reach $XX million by the end of 2027 with a CAGR of XX% from 2020 to 2027.

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COVID-19 scenario-

1) Due to the global pandemic all over the world, the medical devices manufacturers are majorly focusing on essential medical devices production including ventilators and diagnostics.

2) However, due to the precautionary measures taken by governments in various regions, the supply chain has been hampered. Which may result in shortage of devices in certain locations.

3) Food and Drugs Administration (FDA), on the other hand, shared a COVID-19 guidance with medical device manufacturers to notify the agency about changes that could affect availability of their products.

Preservation of biological samples such as cells and tissues can be done with the method of low temperature or use of chemicals. Biopreservation systems are becoming popular due to the growing demand for tissue banking, stem cell banking and umbilical cord blood banking.

The Global biobank equipment and media market is expected to show a sharp rise in emerging economies due to considerable investment in this sector by the government as well as non-governmental organizations. Globally, this market is driven by the increasing number of cases of chronic diseases, advances in regenerative medicines, advances in biobanking, public awareness and government funding. This market also faces some restraints and challenges, such as high cost techniques, regulatory issues, stability issues and storage problems. It has also raised questions regarding medical and research ethics. Standardizing preservation methods and improving storage and stability conditions could contribute to the growth of this market. Increased support from the government and public awareness could also help fuel the growth of this market.

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Global biobank equipment and media market by Types

The global biobank equipment and media market is segmented according to biopreservation media types into two categories: Optimized Pre-Formulated Media and Non-Optimized, Isotonic Formulation Media. Home-Brew Media Solutions is the biggest player in the global biopreservation media market and accounts for the largest market share.

Global biobank equipment and media market by Equipment

The global biobank equipment and media market is segmented according to equipment into different categories such as Refrigerators, Ice Machines, Freezers, LN2 Supply Tanks, Alarm and Monitoring Systems, Cryogenic Storage Systems and Accessories. The demand for biobank equipment is growing due to an increase in the number of biobanks, high demand for superior equipment, which can efficiently handle stability and storage issues, and increased government funding. 

Global biobank equipment and media market by Application

The global biobank equipment and media market is segmented according to application into three different categories: Biobanking, Regenerative Medicines and Drug Discovery. The strength of biobank equipment market lies in its applications such as regenerative medicines and drug discovery. However, harmonization and standardization of Biobanking practices are major challenges to this field.

Global biobank equipment and media market by Geography

Geographically, the global biobank equipment and media market is segmented into North America, Europe, Asia-Pacific and LAMEA. North America dominates the global biobank equipment and media market. It is followed by Europe, Asia-Pacific and LAMEA. Asia-Pacific has an opportunistic biobank market due to government initiative and public awareness. There is also substantial investment by pharmaceutical and biotech companies in cell-based therapies.

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The Major Key Players Are:

Home-Brew media solutions, Teva Pharmaceuticals, Organ Recovery Systems, Genzyme, Thermofisher Scientific, VWR International, Beckman Coulter Inc. and Taylor-Wharton

High Level Analysis

Comprehensive analysis of the global biobank equipment and media market provides an overview of the market and its key concerns. The market segmentation section provides a deep-dive analysis of each segment and it would be helpful in understanding niche market trends. A closer look at market drivers, restraints and opportunities would simplify market dynamics. Porter’s Five Forces analysis would be helpful for strategists to determine market profitability. There is low product differentiation within the global biobank equipment and media market as a large number of small companies offer similar products. This increases the buyers’ bargaining power. These small companies also compete with some of the big players in the market for product pricing, advertising and customer services. In emerging economies, significant funding by the government as well as non-governmental organizations has created the threat of potential substitutes. Thus, industrial rivalry is intense in the global biobank equipment and media market. 

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