DUBLIN--(BUSINESS WIRE)--The "Biobanking Market by Specimen Type, Type of Biobank, Ownership and Application - Global Opportunity Analysis and Industry Forecast, 2018-2025" report has been added to ResearchAndMarkets.com's offering.
The global biobanking market was valued at $47,062 million in 2017, and is estimated to reach $68,084 million by 2025, growing at a CAGR of 4.6% from 2017 to 2025.
The major factors that contribute towards the market growth include rise in funding by private & government organizations for biobanking and increase in application areas of biobanked samples. Biobanked specimens are used in the treatment of several chronic diseases, and thus increase in incidence of disease such as cancer further supports the market growth.
However, ethical issues related to biobanking and lack of awareness about it are expected to impede the market growth. Conversely, unmet medical needs in the emerging nations are expected to provide lucrative opportunity for the market.
The blood product segment generated the maximum revenue in 2017, accounting for more than two-fifths share of the global biobanking market in 2017. On the other hand, solid tissue segment is expected to witness the highest CAGR during the forecast period.
By type of biobank, the population-based biobank segment generated the maximum revenue during the forecast period and is expected to grow at a CAGR of 5.2%.
- The research segment contributed for nearly two-thirds share of the global biobanking market in 2017.
- The private organization segment is projected to grow at a significant CAGR from 2018 to 2025.
- In 2017, national/regional agencies led the overall biobanking market, and is projected to grow at a CAGR of 4.2% during the forecast period.
- 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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