South America Biobanks Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product and Service (Equipment, Consumables, Service, and Software), Sample (Blood Products, Human Tissues, Cell Lines, and Others), and Application (Regenerative Me

South America Biobanks Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product and Service (Equipment, Consumables, Service, and Software), Sample (Blood Products, Human Tissues, Cell Lines, and Others), and Application (Regenerative Medicine, Life Science Research, and Clinical Research)

The biobanks market in South America is expected to grow from US$ 190.08 million in 2021 to US$ 261.23 million by 2028. It is estimated to grow at a CAGR of 4.6% from 2021 to 2028. Virtual biobank is a virtual repository that provides data extracted and characterized from samples stored in a traditional biobank. Virtual biobank is a large database that provides high-resolution images of samples and other characteristic data. These biobanks can be accessed via specialized software or a web portal. Samples are stored in a decentralized manner. Virtual biobanks allow access to prerecorded data formats without having to access physical samples. Therefore, it is easy to share sample data without the fear of sample contamination/destruction/transportation. Virtual biobanks are often used in bioinformatics. Virtual biobank is an online platform that contains 2D and 3D microscopy datasets of valuable clinical biopsy specimens. Recent advances in 3D tissue clearing technology have made it possible to create and display 3D image datasets along with traditional 2D micrographs used by pathologists and researchers. Each dataset has detailed de-identified clinicopathological and technical metadata, providing context for further research. Records are mentioned with each physical sample with biobanks and those can also be obtained from the biobank using the provided contact details. Notably, the dataset has been made available to researchers and the public to encourage the use of clinical data. Virtual biobanks have emerged as a practical option to improve sample visibility and access. As an electronic database, it provides a global view of aggregated or individual standardized data about sample collections from dispersed institutions, regardless of where the samples are stored physically. Researchers can use virtual biobanks to identify the products and services they need to simplify and improve the management of each critical phase of the biobanking process. Thus, the virtual biobank is expected to emerge as a trend during the forecast period.

The outbreak of COVID-19 has stringently affected medical services in South America. Also, the nations are famous for medical tourism, which is also influenced by the pandemic. The second wave of COVID-19 has affected Brazil, Argentina, Uruguay, Chile, Peru, and Colombia. Market players have faced losses in their businesses due to the temporarily shutting down of enterprises in various regions. In this situation, pediatric imaging and other associated treatment are stopped. Biobanks are critical for speeding up research. The COVID-19 collection and characterization were begun by the Argentinean Biobank of Infectious Diseases (BBEI) early in the SARS-CoV-2 epidemic. Biobanks are critical components in the advancement of fundamental, preclinical, translational, and clinical research. As SARS-CoV-2 expanded worldwide, there was, and continues to be, a pressing need to learn more about the virus, comprehend and treat the wide range of clinical manifestations it causes, and halt its transmission in humans. As a result, the scientific community's demand for samples from infected or recovered individuals, as well as the clinical data that goes with them, has increased dramatically. Latin America confronts the issue of addressing genetic variability in research to improve pharmacological responses to medicines for diseases due to its vast population diversity. The establishment of biobanks and their strengthening and collaboration would be critical in obtaining pharmacogenetic information and effective therapeutic responses in South America.

The South America biobanks market is segmented on the basis of product and services, sample, and application. Based on product and services, the market is segmented into equipment, consumables, services, and software. In 2021, equipment segment held the largest share in the market. Equipment plays a vital role in the manufacturing of biobanks products. Equipment is required for every process of storing of bio product. Therefore, the processes, such as biomaterial storage, handling and research management requires different equipment types. Hence, the market for biobanks by equipment segment is further divided into storage equipment, sample analysis equipment, sample processing equipment, and sample transport equipment. The growth of storage segment is attributed to increasing demand for awareness about biobanks. Also, increasing number of products launches in the market are likely to offer significant opportunity for the segment growth. Equipment segment is further sub segmented as storage equipment, sample analysis equipment, sample processing equipment, and sample transport equipment.

The South America biobanks market size has been derived using primary and secondary sources. Exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining an overview and forecast for the South America biobanks market concerning all the market segments. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights into the topic. Participants typically involved in this process include industry experts, such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants, such as valuation experts, research analysts, and key opinion leaders—specializing in the South America biobanks market. THERMO FISHER SCIENTIFIC INC.; Tecan Trading AG; QIAGEN; Hamilton Company; Avantor, Inc.; MICRONICS JAPAN CO., LTD.; BD; Taylor-Wharton; Brooks Automation, Inc.; Promega Corporation; SciSafe Inc. are the leading companies in the market.

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