How is Rising Prevalence of Chronic Diseases Driving Biobanking Market?

1. Biobanking Market to Witness 6.2% CAGR during 2019–2024 © P&S Intelligence. All rights reserved Page 1

2. The rising incidence of chronic diseases and the surging number of research and development (R&D) activities being conducted on genome are the major factors predicted to cause the surge of the global biobanking market, from $25.8 billion to $36.8 billion from 2018 to 2024. In addition to this, the market is predicted to exhibit a CAGR of 6.2% between 2019 and 2024, as per the forecast of P&S Intelligence, a market research company based in India. Receive Sample Copy of this Report: https://www.psmarketresearch.com/market- analysis/biobanking-market/report-sample The soaring prevalence of diabetes, Parkinson’s disease, and Alzheimer’s disease is massively boosting the demand for stem cells and cord blood cells (that contain the stem cells) all over the globe. The treatment procedures involving stem cells have the ability to help significantly in organ transplantation, tissue grafting, drug testing, and the development of regenerative medicines. Thus, because of the various advantages of stem cell therapies, their popularity is rapidly growing, which is, in turn, boosting the demand for biobanks across the world. Make an Enquiry before Purchase: https://www.psmarketresearch.com/send-enquiry?enquiry- url=biobanking-market Besides the above-mentioned factor, the soaring number of research and development (R&D) activities being conducted in several countries for developing treatment methods for various chronic diseases such as cancer, diabetes, respiratory diseases, and ischemic heart diseases is also propelling the growth of the biobanking market. Additionally, the governments in many countries are making huge investments for the development of biobanks that can analyze, preserve, collect, and transport samples. During the next several years, the Asia-Pacific (APAC) biobanking market is predicted to register huge growth, on account of the rising awareness amongst the masses about biobanking, soaring population levels and surging clinical research activities in the various APAC countries. Furthermore, the advancement of the biotechnology sector, on account of increasing investments by public and private organizations and ballooning R&D activities, will majorly contribute toward the expansion of the market in the region in the forthcoming years. Therefore, it can be safely said that the market will exhibit sharp growth in the upcoming years, on account of the increasing R&D activities in the healthcare and biotechnology sectors and the rising prevalence of chronic diseases across the world. © P&S Intelligence. All rights reserved Page 2

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