Report : South America Biobanks Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product and Service (Equipment, Consumables, Service, and Software), Sample (Blood Products, Human Tissues, Cell Lines, and Others), and Application (Regenerative Medicine, Life Science Research, and Clinical Research)
Equipment segment to dominate the South America Biobanks Market during 2021–2028
According to a new market research study on “South America Biobanks Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Product and Services, Sample, and Application” is expected to reach US$ 261.23 million by 2028 from US$ 190.08 million in 2021. The market is estimated to grow at a CAGR of 4.6% from 2021 to 2028. The report provides trends prevailing in the South America biobanks market along with the drivers and restraints pertaining to the market growth. Growing adoption of regenerative medicines, virtual biobanks, and raising funding and genomic research activities for studying diseases are the major factor driving the growth of the South America biobanks market. However, higher expenses of automation hinders the growth of South America biobanks market.
The outbreak of COVID–19 has stringently affected medical services in the South America region. Also, the nations are famous for medical tourism, which is also influenced by the pandemic. Brazil, Argentina, Uruguay, Chile, Peru, Colombia is affected by the second wave of corona infection. Market players and Sample losses their business due to the temporarily shutting down of enterprises in various regions. In this situation, pediatric imaging and other associated treatment is stopped. Biobanks are critical for speeding up research. The COVID19 collection and characterization were began by the Argentinean Biobank of Infectious Diseases (BBEI) early in the SARS-CoV-2 epidemic. Biobanks are critical components in the advancement of fundamental, preclinical, translational, and clinical research. As SARS-CoV-2 expanded over the world, there was, and continues to be, a pressing need to learn more about the virus, to comprehend and treat the wide range of clinical manifestations it causes, and to halt its transmission in humans. As a result, the scientific community's demand for samples from infected or recovered individuals, as well as the clinical data that goes with them, has increased dramatically. Latin America confronts the issue of addressing genetic variability in research to improve pharmacological responses to medicines for diseases due to its vast population diversity. The establishment of biobanks, as well as their strengthening and collaboration, would be critical in obtaining pharmacogenetic information and effective therapeutic responses in South America.
The South America 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 Brazil, Argentina, and Rest of SAM. In 2021, Brazil held the largest share in the market, and it is also 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.; Promega Corporation; and SciSafe Inc. are among the leading companies in the South America 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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