Biobanks Market is expected to reach US$ 3,758.64 million by 2028  

According to our latest study on "Biobanks Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Product and Service, Sample, and Application," the market is projected to reach US$ 3,758.64 million by 2028 from US$ 2,418.31 million in 2021; it is expected to grow at a CAGR of 6.5% from 2021 to 2028. The report highlights the key factors driving the market and prominent players with their developments in the market.  

By Product and Service, Equipment Segment to Hold Largest Share in Biobanks Market During 2021-2028

Market Segmentation 

The biobanks market is segmented into equipment, consumables, services, and software based on product and service. The equipment segment is further divided into storage equipment, sample analysis equipment, sample processing equipment, and sample transport equipment. The consumables segment is divided into storage consumables, analysis consumables, processing consumables, and collection consumables. The services segment is divided into storage services, processing services, transport services, and supply services. The equipment segment held the largest market share in 2021. However, it is expected that the consumables segment will have the highest compound annual growth rate (CAGR) of 7.2% during the forecast period from 2021 to 2028. The biobanks market is categorized by sample into blood products, human tissues, cell lines, and others. It is further categorized by application into regenerative medicine, life science research, and clinical research. Geographically, the biobanks market is segmented into North America (including the US, Canada, and Mexico), Europe (including the UK, Germany, France, Italy, Spain, and Rest of Europe), Asia Pacific (including China, Japan, India, Australia, South Korea, and Rest of Asia Pacific), the Middle East & Africa (including the UAE, Saudi Arabia, Africa, and Rest of Middle East & Africa), and South and Central America (including Brazil, Argentina, and Rest of South and Central America.

Market Players

The biobanks market is home to several prominent players, including Thermo Fisher Scientific Inc., Tecan Trading AG, QIAGEN, Hamilton Company, Avantor, Inc., Micronics Japan Co., Ltd., BD, Taylor-Wharton, Brooks Automation, Inc., Biovault Family, Promega Corporation, and SciSafe Inc.

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