Biobanks is a collection or storation of blood and cell samples from a large number of people. Biobank collection denotes its use in medical field and research. The global biobank industry is segmented into different sectors such as human tissue banking, or population banking, stem cell banking, commercial biobanks, private cord banking, academic collections and other services such as DNA and RNA storage.
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The global biobanks market was USD 142.million in 2011 and it is forecasted that this market will reach USD 216.3 million in 2018 with the compound annual growth rate of 5.4 % from 2011 – 2018. This market witnessed an increased trend of mergers and acquisitions among vendors. The recent example of this trend in the biobank market was that in 2011 when Thermo Fisher acquired Dionex Corp. This kind of collaboration of public and private banks is expected to increase in the coming years.
This market will also be driven by the political and scientific environment, increase in prevalence of chronic diseases such as cardiovascular disease, neurovascular disease, cancer, diabetes and respiratory disease, government funding and public awareness. Therefore, many pharmaceutical and biotech companies are using biobanks to develop new drugs for the treatment of chronic diseases which occur due to unhealthy diets, physical inactivity, alcohol consumption, and smoking.
However, this market could also face challenges due to lack of standardized and quality biospecimens. The private sector biobanks market was USD.42.4.million in 2010 and it is projected that this market will reach market value of USD 93.7 million in 2018.
The U.S and Europe have the largest market size in biobanks. However, the rapid growth in population in Asia Pacific countries will affect the market of the developed countries. Europe is the largest biorepositories market due to the huge demand from Netherlands, Italy, Germany U.K and several other countries.
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The biobanks market is dominated by some key vendors who accounted for more than seventy percent market share. These vendors include Thermo Fischer Scientific Inc, New Brunswick Scientific Co. Inc., Beckman Coulter Inc and ,Tecan AG. Thermo Fisher is the world leader in the biobanking market providing healthier, cleaner and safer solutions to patients. There are some other names in this market as well, such as TAP Biosystems, NEXUS Biosystems, BioKryo GmbH and others.
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