Biobanking Market Growing Steadily at 8% CAGR to 2020

PUNE, India, November 26, 2015 /PRNewswire/ --

The Global Biobanking Market 2016 - 2020 report analyzes that automating biobanking workflow will benefit biobanks by maintaining integrity and quality in long-term samples, minimizing manual errors, improving the workflow efficiency, and enabling long-term cost-effectiveness. Automation minimizes manual errors such as mislabeling or inaccurate sample barcoding and improves the technical efficiency. Further, it plays a vital role in blood fractionation, DNA extraction, labeling, and capping techniques.

Complete report on biobanking market spread across 145 pages, profiling 6 major companies and supported with 51 data exhibits is now available at http://www.reportsnreports.com/reports/442998-global-biobanking-market-2016-2020.html.

The key vendors analyzed in biobanking market report are Beckman Coulter, BioCision, Taylor-Wharton, Tecan, Thermo Fisher, and VWR. And the other prominent vendors analyzed in this market study are Askion, B&C Group, BioBank, BioCryo, BioRep, BioStorage Technologies, Bluechip, Brooks Life Science Systems, Cryo Bio System, CryoXtract, DNA Genotek, Excilone, Fluidx, Indivumed, LVL Technologies, Micronic, Promega, QIAGEN, RURO, Seralab, SOL Group, Tissue Solutions, Trans-Hit Biomarkers, and Wildcat Laboratory Solutions.

The in-house sampling testing and storage solutions can reduce the overall processing time and costs for manufacturers. A contract testing laboratory can take approximately three days for sampling and providing results, whereas in-house testing can reduce that time to 30 minutes. This process will decrease the cost per sample by nearly 40%. Most manufacturers perform in-house analytical testing to avail quick results.

The global biobanking market analysts predict the market to grow steadily at a CAGR of approximately 8% during the forecast period. The ability of biobanks to aid in the collection, preparation, processing, handling, recovery, storage, and distribution of tissues and cell samples for therapeutic and research purposes are expected to result in this markets impressive growth rate during the forecast period. Order a copy of Global Biobanking Market 2016 - 2020 report @ http://www.reportsnreports.com/purchase.aspx?name=442998.

Geographically, the EMEA region is estimated to account for a market share of approximately 44% during the predicted period. The presence of a well-established biobanking system in the Nordic countries, such as Sweden, Norway, Denmark, Finland, and Iceland, is a significant factor that bolsters market growth in this region during the forecast period.    

Segmentation by sample type and analysis of the biobanking market: Human tissues, Stem cells, DNA or RNA, Bio-fluids and others.

Product-type segmentation of the biobanking market: Equipment and Consumables

Further, the report states that lack of standardization of sample collection, transfer, and storage is affecting the quality of samples. As a result, the pressure on the biobanking community is increasing so as to harmonize and standardize biobanking workflow.

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