Europe Biobanks Market - Growth, Trends, and Forecast (2020 - 2025)

Stem cell practices are on the rise in European countries and are contributing to the development of new solutions for various diseases. Several advancements have been made in regenerative medicine through stem cell technology over the past decade. Thus, it has become one of the vital treatment methods for diseases, such as Alzheimer's, diabetes, cancer, and rare genetic diseases. To benefit from the existing therapies, umbilical cord cells and other stem cells are preserved in Biobanks. The European Science Foundation (ESF) has been an active player in advancements made in stem cell and regenerative medicine research and in providing new treatments for incurable diseases and opportunities. With the increase in awareness about stem cell therapies, there have been a larger number of parents, who choose umbilical cord banks for their children. Biobanks not only aid in the therapies for genetic diseases, but also in medical research on rare genetic disorders. However, other factors such as rising burden of chronic diseases and R&D funding and investments by government and non-governmental organizations are also expected to drive the market in the forecast period.

Key Market Trends

Alarm Monitoring Systems Segment is Expected to Show Better Growth in the Forecast Years

Based on Equipment, it is segmented into cryogenic storage system, alarm monitoring systems and other equipments. Stem cell banking is considered as one of the most promising and emerging fields. The cryogenic storage systems, freezers, refrigerators, and all other storage devices in a biobank require continuous monitoring of various processes. This is effectively done only with an alarm monitoring system. Alarms are used at various stages, from filling to continuous monitoring of temperature. Hence, with advancements in technology and the rising adoption of automated storage systems, there is high demand for automated alarm monitoring devices, which is expected to fuel the market growth.

Competitive Landscape

The market is competitive and with the entrance of key players, the market is expected to grow due to increased competition amongst the existing players. For instance, Atlanta Biologicals Inc. (Bio-Techne Corporation), Becton, Dickinson and Company, BioLifeSolutions Inc., Hamilton Company, Qiagen N.V, , Stemcell Technologies Inc., Thermo Fisher Scientific, etc. are providing these products across the globe.

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