Biobanking Market Trends, Business Strategies, Regional Outlook, Challenges and Analysis

Biobanking denotes the procedure by which samples of bodily fluid or tissue are collected for study use to advance our knowledge of health and disease. Even though hundreds of years of medical research has gone into understanding the whys and hows of diseases, people still don’t have all the answers. P&S Intelligence cites the growing chronic disease prevalence and the eternal quest to unearth their deepest secrets as the key factors that will drive the biobanking market from $25.8 billion in 2018 to $36.8 billion in 2024, at a 6.2% CAGR between 2019 and 2024. A biobank is a collection of human tissues, cell lines, blood, bodily fluids, genetic material, and even excreta, which is primarily intended for research.

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