Europe Biobanks Market Growth Drivers and Forecast by 2028

The biobanks market in Europe is expected to grow from US$ 699.13 million in 2021 to US$ 1,070.46 million by 2028; it is estimated to grow at a CAGR of 6.3% from 2021 to 2028.

Five years ago, genomic sequencing was restricted to the research environment. Genomic sequencing is rapidly transitioning into clinical practice, and implementation into healthcare systems has been supported by substantial government investments. The national genomic-medicine initiatives are driving transformative change under real-life conditions while simultaneously addressing barriers to implementation and gathering evidence for broader adoption, thereby driving the market growth. The UK has announced the world’s largest genome project as a part of 200 million public–private collaboration between charities and pharma. The country has already developed the largest genome database in the world through 100,000 Genomes Project led by Innovate UK as a part of UK Research and Innovation. The project will fund researchers and industry to combine data and real-world evidence from the UK health services and create new products and services to diagnose diseases earlier and efficiently. In genomic research on infectious diseases and their hosts, biobanks are significant resources. The availability of large biobanks is necessary for population genomics. Data from biobanks helps understand the etiology of multifactorial diseases caused by mutations in a range of genes and the influence of environmental variables and lifestyle on world-wide population. Therefore, the importance of biobanking as a research infrastructure component is expanding. Biobanks have also cleared the path for personalized medicine to evolve, particularly the production of tailored medications. The integration, analysis, and interpretation of data from biobanks play a significant role in understanding genetic susceptibilities to infectious diseases.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.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the Europe biobanks market. The Europe biobanks market is expected to grow at a good CAGR during the forecast period.

Europe Biobanks market Revenue and Forecast to 2028 (US$ Million)  

 

Europe Biobanks Market Segmentation

Europe Biobanks Market – By Product and Service

• Equipment
  • Storage Equipment
  • Sample Analysis Equipment
  • Sample Processing Equipment
  • Sample Transport Equipment
• Consumables
  • Storage Consumables
  • Analysis Consumables
  • Processing Consumables
  • Collection Consumables
• Service
  • Storage Services
  • Processing Services
  • Transport Services
  • Supply Services
• Software

Europe Biobanks Market – By Sample

• Blood Products
• Human Tissues
• Cell Lines
• Others

Europe Biobanks Market – By Application

• Regenerative Medicine
• Life Science Research
• Clinical Research

Europe Biobanks Market – By Country

• Germany
• France
• UK
• Italy
• Spain
• Rest of Europe

Europe Biobanks Market – Companies Mentioned

• THERMO FISHER SCIENTIFIC INC.
• Tecan Trading AG
• QIAGEN
• Hamilton Company
• Avantor, Inc.
• MICRONICS JAPAN CO., LTD.
• BD
• Taylor-Wharton
• Brooks Automation, Inc.
• Promega Corporation
• SciSafe Inc.     
• Biovault Family

Europe Biobanks Report Scope