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).
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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.
Key Highlights of Biobanking Market Study
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Biobanking Market – Assessment of Key Segments
Authors of this comprehensive study have classified the biobanking market into key segments for an in-depth study of the biobanking market. Categorisation of the biobanking market is based on storage, application, biospecimen, product, and region.
This detailed study also offers information about the incremental opportunity present in the biobanking market during the forecast period. Key segments considered while studying the biobanking market include:
| Storage |
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| Application |
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| Biospecimen |
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Product Innovation within the Boundaries of Environmental Sustainability
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.
For More Insights- https://www.biospace.com/article/demand-for-anticoagulants-to-grow-at-8-percent-annually-through-2026-fact-mr-concludes-in-latest-market-survey/
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