Biobank Equipment Market to Grow with a CAGR of 5.75% through 2029
Rising
incidences chronic diseases and increasing biomedical research are driving the
growth of Biobank Equipment market in the forecast period 2025-2029.
According to
TechSci Research report, “Biobank Equipment Market – Global Industry Size,
Share, Trends, Competition Forecast & Opportunities, 2029”, the Global Biobank Equipment Market has
valued at USD 47.25 Billion in 2023 and is anticipated to project robust growth
in the forecast period with a CAGR of 5.75% through 2029 driven by a
combination of key factors. The Biobank Equipment Market has witnessed
significant growth in recent years, driven by a confluence of factors that
underscore its critical role in advancing biomedical research and personalized
medicine. This market centres on specialized storage and handling solutions for
biological samples, including tissues, cells, DNA, and other biomolecules. The
surge in chronic diseases globally has been a primary driver, necessitating the
establishment of biobanks that serve as repositories for understanding the
genetic, environmental, and lifestyle factors contributing to these diseases.
This demand has propelled the growth of the market, as biobank equipment
becomes increasingly indispensable in modern healthcare and research practices.
Technological
advancements have been a cornerstone of the market's evolution. Automation and
robotics have revolutionized biobank operations, optimizing sample management
processes, reducing human error, and enhancing overall efficiency. This trend
has not only increased the capacity of biobanks to handle larger volumes of
samples but has also improved the accuracy and reliability of sample storage
and retrieval. Additionally, the integration of artificial intelligence and
data analytics has further transformed biobank operations, enabling more
efficient data management, analysis, and retrieval processes.
The
COVID-19 pandemic has exerted a profound impact on the Biobank Equipment
Market. While the pandemic initially disrupted supply chains and operations, it
also underscored the critical importance of biobanks in global health crises.
Biobanks played a pivotal role in collecting, storing, and providing access to
biological samples for COVID-19 research. This experience has further
emphasized the need for robust and resilient biobank infrastructure in the face
of emerging infectious diseases and public health emergencies.
In
recent years, the market has seen a surge in the establishment of disease-specific
biobanks, particularly focused on conditions such as cancer, neurodegenerative
diseases, and rare genetic disorders. These specialized biobanks are
instrumental in targeted research efforts, providing researchers with access to
highly curated, disease-specific samples for in-depth studies. This trend
reflects a growing recognition of the unique challenges posed by different
diseases and the need for specialized resources to address them effectively.
Personalized
medicine has emerged as a prominent trend in healthcare, and biobanks are at
the forefront of enabling this paradigm shift. The emphasis on understanding
individual genetic variations and responses to treatments necessitates
high-quality, well-curated biological samples. Biobank equipment plays a
crucial role in preserving these samples, ensuring their integrity and
viability for personalized medicine initiatives. This trend is expected to
continue as healthcare providers increasingly seek to tailor treatments to
individual patients' genetic profiles.
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"Global Biobank Equipment Market”
The Global Biobank Equipment Market is
segmented into product, application, regional distribution, and company.
Based on product, the equipment segment
has emerged as the predominant market leader in the Biobank Equipment market. The
dominance of the equipment segment in the Biobank Equipment market can be
attributed to several key factors. Firstly, the equipment category encompasses
a wide range of essential tools and technologies that are fundamental to the
functioning of biobanks. This includes specialized storage systems such as
ultra-low temperature freezers, liquid nitrogen tanks, and automated sample
handling solutions. These equipment play a pivotal role in preserving the
integrity and viability of biological samples, ensuring they remain viable for
future research endeavours. Additionally, advancements in biobank equipment
have significantly enhanced their efficiency, accuracy, and capacity. For
instance, automated storage and retrieval systems, as well as sophisticated
sample tracking technologies, have revolutionized sample management processes.
This has not only increased the capacity of biobanks to store and manage larger
volumes of samples but has also improved the precision and reliability of these
operations.
Based on region, North America anticipated
to experience significant growth during the forecast period in the Biobank
Equipment market. Several factors contribute to the anticipation of significant
growth in the Biobank Equipment market in North America during the forecast
period. North America boasts a highly developed and mature healthcare
infrastructure. This robust foundation provides a conducive environment for the
establishment and expansion of biobanks, which are critical in supporting
biomedical research and personalized medicine initiatives. The region is home
to a multitude of world-renowned research institutions, academic medical
centres, and biopharmaceutical companies, all of which heavily rely on biobanks
for the storage and management of biological samples.
Major companies
operating in Global Biobank Equipment Market are:
- Becton, Dickinson and Company
- Bio-Techne Corporation
- Hamilton Company
- Merck KgaA
- Lonza Group AG
- QIAGEN N.V.
- Stemcell Technologies Inc.
- Tecan Group AG
- Thermo
Fisher Scientific Inc
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“The Biobank
Equipment market is experiencing robust growth driven by escalating demand for
high-quality biological samples in research and personalized medicine.
Automation and robotics integration, coupled with advancements in AI and data
analytics, are revolutionizing sample management processes. Notable companies
in the market include Thermo Fisher Scientific, Brooks Automation, and
Panasonic Healthcare. North America leads the market due to its mature
healthcare infrastructure and substantial investments in R&D.
Disease-specific biobanks and a shift towards personalized medicine are
prominent trends shaping the market.” said Mr. Karan Chechi, Research Director
with TechSci Research, a research-based management consulting firm.
“Biobank Equipment Market - Global Industry
Size, Share, Trends, Opportunity, and Forecast, Segmented By Product {Equipment
(Cryogenic Storage System, Alarm Monitoring Systems, Others), Media &
Consumables}, By Application (Regenerative Medicine, Drug Discovery, and
Others), By Region and Competition 2019-2029F”, has evaluated the future growth potential of Global
Biobank Equipment Market and provides statistics & information on market
size, structure and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in Global Biobank
Equipment Market.
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