Frost & Sullivan Recognizes Thermo Fisher Scientific for its Superiority in the Global Biobanking Products, Services and Solutions Market
MOUNTAIN VIEW, Calif., May 9, 2012 /PRNewswire/ — Based on its recent analysis of the integrated biobanking solutions market, Frost & Sullivan recognizes Thermo Fisher Scientific, the world leader in serving science, with the 2011 Global Frost & Sullivan Award for Company of the Year. Thermo Fisher is the world’s largest provider of biobanking products, services and solutions, enabling its customers to make the world healthier, cleaner and safer. The Company provides best of breed cold storage equipment, centrifuges and rotors, consumables, liquid handling tools such as automated pipettes and market-leading informatics software for the biobanking industry. Its Fisher BioServices business offers end-to-end outsourced service solutions for biorepositories and biobanks.
Currently, there are no other market participants with such a diverse and cutting-edge portfolio for the biobanking industry. With an increasing trend toward automation and more effective solutions for storage and sample handling, Thermo Fisher’s offerings set out to meet the needs of both large- and small-scale organizations, from research organizations and CROs to large biotech and pharmaceutical facilities worldwide. The company is an end-to-end biobanking resource, as it delivers software, sample handling and automation equipment, consumables, reagents and services. Due to its exceptional expertise in the area of informatics, the processes, including sample collection, processing, testing, storage and data management, can be managed seamlessly.
“Whether clients are building, expanding, or sustaining their own in-house biorepositories or needing to outsource the storage of their samples, Thermo Fisher’s extensive product and service offering excels in all areas of the market penetration process by efficiently identifying challenges in the market and developing strategies, products and services to effectively address them,” said Frost & Sullivan Senior Research Analyst, Ms. Divyaa Ravishankar. “The company has always stayed ahead of the competition by continually delivering innovative biobanking products and venturing into the latest creative collaborative projects, such as virtual biobanks.”
The portfolio of biobanking products and services from Thermo Fisher addresses issues pertaining to sample location management, sample retrieval, preservation of sample integrity and accurate accessing of samples. The company’s storage and tracking portfolio comprises Thermo Scientific Nunc and Matrix 2D integral barcoded tubes of varying volumes, Thermo Scientific Capit-All and Handheld decappers, and VisionMate 2D readers. The cold storage offerings include solutions from +4 degrees C refrigerators to -86 degrees C ultra-low temperature freezers and -196 degrees C cryogenic freezers including new Thermo Scientific CryoExtra high-efficiency cryogenic storage with the capacity to store up to 93,000 2mL vials in one tank.
The company’s biobanking laboratory information management system (LIMS) offers superior data capture, integration and automation capabilities, eliminating transcription errors, providing biobanks with access to both raw and derived data, and lowering the total cost of ownership (TCO). To complete the portfolio, Fisher BioServices provides biorepository services, sample collection kits and sample processing services, including aliquoting, DNA/RNA extraction and amplification, and other processing required for genomic studies.
Thermo Fisher continues to build on its global brand image by executing an aggressive growth strategy and is uniquely positioned in this market on multiple counts. For instance, the LIMS market segment for biobanking is growing at a compound annual growth rate (CAGR) of 7.9 percent from 2011 to 2018, with most growth generated from the revenue contribution by Thermo Fisher. Similarly, the growth of biobanking consumables is expected to grow at a CAGR of 12.3 percent from 2011 to 2018, with Thermo Fisher likely to grab further market share through the addition of tubes to the 2D product line and other products that universalize its racks.
In terms of geographic market leadership, the LIMS business of Thermo Fisher has a strong presence in Europe, especially after acquiring customer projects from UK Biobank, Hunt Biobank and University of Lund. In North America, there are several upcoming academic and biotech biobank projects seeking a standardized solution across their consortium. Thermo Fisher is also supporting business models that involve virtual biobanks that want to centralize the information about the status of a particular disease. Thermo Scientific LIMS benefits its customers by creating a centralized and global view of inventory, web access to data, chain of custody, online sample registration and tracking, and much more. Finally, Thermo Fisher is working closely with a number of long-term large pharmaceutical customers to revolutionize biobanking.
Based on all these factors, Frost & Sullivan is proud to present Thermo Fisher with the 2011 Global Frost & Sullivan Award for Company of the Year in the integrated biobanking solutions market. Each year, Frost & Sullivan presents this award to the company that has demonstrated excellence in terms of growth strategy and implementation. The award recognizes a high degree of innovation with products and technologies, and the resulting leadership in terms of customer value and market penetration.
Frost & Sullivan Best Practices Awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research to identify best practices in the industry.
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