The global BiobankingEquipment Market By Product Type (Equipment, Media, Consumables, andOthers), By Sample Type (Human Tissue and Tumor Cells, Bio-Fluids, Stem Cells,Umbilical Cord, and DNA/RNA), By End User (Hospitals, Research Organization,Cell and Tissue Banks, Blood Banks, and DNA Banks) and By Region (NorthAmerica, Latin America, Europe, Asia Pacific, Middle East, and Africa) isestimated at US$ 1,778.3 million in 2017, and is projected to exhibit a CAGR of7.5% over the forecast period (2017 – 2026).
Biobank potentially hold key tothe future of breakthroughs in scientific research, drug discovery, andclinical and translational medicine. Biobanking is an important tool inunderstanding the pathophysiology of various illness. Genetic studies based onbiobanking are increasing, as researchers recognize the need for large amountsof samples to identify the genetic basis of susceptibility to common complexdiseases. Large scale population biobanking projects link genetic data withinformation on health status, lifestyle, and environmental factors. Thegovernment is focusing on building biobank due its increased demand andapplication. For instance, in February 2018, the Thailand Centre of Excellencefor Life Sciences (TCELS), Thailand Research Fund (TRF), and RamathibodiHospital’s Centre for Medical Genomics collaborated with Shenzen-based BGIGenomics, one of the world’s genome sequencing centers, to collect the entiregenome sequence for Thais. The five-year pilot project will collect the whole19,000 genome sequencing of 10,000 Thai volunteers. The results of the pilotproject would then form the initial data as a national ‘bio-bank’ for Thais.
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Browse 27 Market Data Tables and34 Figures spread through 174 Pages and in-depth TOC on “Biobanking Equipment Market,By Product Type (Equipment, Media, Consumables, and Others), By Sample Type(Human Tissue and Tumor Cells, Bio-Fluids, Stem Cells, Umbilical Cord, andDNA/RNA), By End User (Hospitals, Research Organization, Cell and Tissue Banks,Blood Banks, and DNA Banks) and By Region (North America, Latin America,Europe, Asia Pacific, Middle East, and Africa) - Global Forecast to 2026”
Manufacturers in the biobankingequipment industry are focused on innovating the product for safe samplestorage. For instance, in September 2017, Micronic launched a new screw caprecappers to the company’s sample handling equipment line. In December 2017,the company launched high volume storage tube to optimize the sampletraceability during clinical research. Furthermore, in October 2017, thePanasonic Biomedical Sales Europe B.V. introduced a new VIP ECO Ultra lowtemperature upright freezer for storing the sample. Furthermore, extensivedevelopment of personalized treatments by research organizations to developeffective therapies using biological samples is expected to propel the demandfor biobank market during the forecast period. For instance, in 2016, Illuminasigned 4 biobank deals, with Partners HealthCare, Montreal Heart Institute,University of Colorado, and Vanderbilt University with an objective to improvehealthcare and develop personalized medicines.
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Key takeaways of the Biobanking Equipment Market:
The global biobanking equipment market growth is expected toexhibit a CAGR of 7.5% over the forecast period (2017–2026), owing toincreasing adoption of precision medicine. For instance, in November 2018, theFDA approved an advanced precision medicine larotrectinib, a drug for a widerange of cancers based on a shared mutation rather than the tumors' locations.
Key players operating in the biobanking equipment Marketinclude Thermo Fisher Scientific Inc., BioLife Solutions, Inc., BeckmanCoulter, Inc., Panasonic Biomedical Sales, BioCision, Taylor-WhartonInternational, VWR International and So-Low Environmental Equipment Co. andTecan AG.
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