Blood Products segment to dominate the Europe Biobanks Market during 2021–2028
According to The Insight Partners market research study on “Europe Biobanks Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Product and Services, Sample, and Application” is expected to reach US$ 1,070.46 million by 2028 from US$ 699.13 million in 2021. The market is estimated to grow at a CAGR of 6.3% from 2021 to 2028. The report provides trends prevailing in the Europe biobanks market along with the drivers and restraints pertaining to the market growth. Increasing funding and genomic research activities for studying diseases, virtual biobanks, and fostering adoption of regenerative medicines are the major factor driving the growth of the Europe biobanks market. However, heavy cost of automation hinders the growth of Europe biobanks market.
In the European region Countries like Italy, Spain, the UK, Germany, France, and other European counties such as Russia, Switzerland are highly affected. The European economy is severely affected due to the exponential growth of COVID-19 cases in the region. Spain, Italy, Germany, France, and the UK are among the most affected European countries and number of deaths are also high. The current coronavirus (COVID-19) outbreak has been declared by WHO as a Public Health Emergency of International Concern, according to the International Health Regulation. Biobanks have been helpful in the fight against Covid-19 because they have provided researchers with access to the samples, they need to explore the disease and create vaccines and therapies. While the pandemic posed a significant problem for biobanks, it also gave an opportunity for future growth in many other areas of research. It would have been impossible to make the genome of the SARS-CoV-2 virus accessible to the whole scientific community and produce efficient vaccinations in record time without samples from patients infected with Covid-19. Since the beginning of the pandemic, researchers have been requesting these samples to undertake tests to better understand the virus's various mechanisms for tricking human immune systems.
The Europe biobanks market is segmented on the basis of product and services, sample, application, and country. Based on product and services, the market is segmented into equipment, consumables, services, and software. In 2021, equipment segment held the largest share in the market, consumables is expected to be the fastest growing segment during the forecast period. Further, based on equipment, the market is segmented into storage equipment, sample analysis equipment, sample processing equipment, and sample transport equipment. In 2021, storage equipment delivery mode segment held the largest share in the market, and it is also expected to be the fastest growing segment during the forecast period. Based on consumables, the market is segmented into storage consumables, analysis consumables, processing consumables, and collection consumables. In 2021, storage consumables segment held the largest share in the market, and it is also expected to be the fastest growing segment during the forecast period. Based on services, the market is segmented into storage services, processing services, transport services, and supply services. In 2021, storage services segment held the largest share in the market, it is also expected to be the fastest growing segment during the forecast period. Based on samples, the market is segmented into blood products, cell lines, human tissues, and others. In 2021, blood products segment held the largest share in the market, it is also expected to be the fastest growing segment during the forecast period. Based on application, the market is segmented into regenerative medicine, life science research, and clinical research. In 2021, regenerative medicine segment held the largest share in the market, life science research is expected to be the fastest growing segment during the forecast period. Similarly, based on country the market is segmented into Germany, France, the UK, Italy, Spain, and Rest of Europe. In 2021, Germany held the largest share in the market, and the UK is expected to be the fastest growing country during the forecast period.
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. are among the leading companies in the Europe biobanks market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, 2019, Tecan announced the acquisition of a long-term supplier to vertically integrate the manufacturing of critical precision-machined parts.
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