Market Size of Europe Biobanks Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 6.50 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe Biobanks Market Analysis
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.
