Global Biobanking Market Predictions Highpoint Enhanced Sales during 2020-2027

Posted by Arslan on February 21st, 2020

The business intelligence study of the biobanking market covers the estimation size of the market both in terms of value (Mn/Bn USD) and volume (x units). In a bid to recognize the growth prospects in the biobanking market, the market study has been geographically fragmented into important regions that are progressing faster than the overall market. Each segment of the biobanking market has been individually analyzed on the basis of pricing, distribution, and demand prospect for the following regions:

• North America (Canada, US)
• Latin America (Argentina, Mexico)
• Europe (NORDIC, UK)
• APEJ (China, India)

The key players in the global biobanking market report consist of

• Hamilton Company
• Chart Industries, Inc.
• Greiner AG
• Brooks Automation, Inc.

Manual storage systems are projected to register 64% share in the biobanking market by 2027, given their low capital requisites. However, players in the biobanking market are increasingly striving to transform the landscape through the introduction of advanced software, which helps in reducing manual errors. Automated storage systems offer high precision and time-efficiency, which is likely to significantly increase their adoption in the foreseeable future. Automated storage systems are projected to register a CAGR of 7% during the forecast period (2020-2027). A recent study published by Fact.MR examines the growth potential of the biobanking market, and projects CAGR to be above average during the forecast period.

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Product innovation is a key strategy adopted by players in the biobanking market. As biobanking of biospecimen requires freezing temperature for storage, leading players are, in turn, making a shift towards offering products with the least possible carbon footprints. Thermo Fisher Scientific, Inc. is an ideal company exhibiting this strategic move. In 2017, the company announced that it had received the ENERGY STAR certification for its temperature freezers from the U.S. Environmental Protection Agency to reduce energy consumption, while ensuring the protection of biospecimen. Players operating in other tiers seek expansion in the fragmented biobanking market through collaborations, acquisitions, and partnerships, to achieve better exposure of their products.