Articles
Growing Incidence of Chronic Diseases Fueling Demand for Biobanks
by Pramod Kumar Digital Marketing ProfessionalThe rising incidence of
various chronic conditions and diseases such as Parkinson’s disease, diabetes,
and Alzheimer’s disease is pushing up the demand for stem cells and cord blood
cells across the globe, on account of the fact that these therapies can help
considerably in organ transplantation, tissue grafting, drug testing, and the
development of regenerative medicine. This is subsequently pushing up the
requirement for biobanks and biobanking solutions across the world.
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Due to the aforementioned
factors, the demand for biobanks is growing rapidly across the world. This is
driving the advancement of the global biobanking
market. As a result, the valuation of the market is predicted to surge
from $25.8 billion in 2018 to $36.8 billion by 2024. Furthermore, the market is
predicted to progress at a CAGR of 6.2% between 2019 and 2024. Depending on
offering, the market is divided into services, software, equipment, and
consumables.
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Hence, it can be said with
full confidence that the demand for biobanks will surge all over the world in
the coming years, primarily because of the rising incidence of chronic
diseases, the soaring geriatric population, and the allocation of huge funds
for the development of biobanks in healthcare facilities around the world.
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About Pramod Kumar 
Digital Marketing Professional
89 connections, 2 recommendations, 268 honor points.Joined APSense since, July 17th, 2017, From Ave, United States.
Created on Mar 18th 2021 03:56. Viewed 175 times.
