The global biobanking market is estimated to be over US$ 2.1 Billion in 2019. It is anticipated to grow at 7.5% CAGR from 2019 to 2030.
Biobanking is the process through which samples of fluids in the tissue or body are collected for research purpose for improving understanding of disease and overall health. Biobanking also help in recording the weight, height, and minor things about health that directly or indirectly are associated to the body. These types of information are useful to be recorded at the same time in order to offer the context for samples. Mostly, the specimens are maintained indefinitely or also for multiple years, on the basis of the research in future that could be executed. Experts and researchers may track the patient’s health by checking at their past as well as future medical records, but only if patients have given the experts the permission.
Biobanks considerably makes research execution easier since it serves huge library for the researchers. This saves time and also the resources required to hire new candidates for every research study. This is due to the sample and the relevant medical information is available at a place. By making sample collection and recruitment of patient highly efficient, and help in better research and can be executed in time manner.
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Top Players are:
Some prominent players in the biobanking market include Thermo Fisher Scientific Inc., PHC Holdings Corporation, QIAGEN, Becton, Dickinson and Company, Merck KGaA, Hamilton Company, Tecan Trading AG, Cell&Co, Promega Corporation and Brooks Life Sciences among others.
Regenerative medicines utilizes the body’s growth and healing properties to repair or replace the damaged cells, tissues, or organs. The extensive research in stem cell, developmental biology, bioengineering, material science, and gene editing are important in development of regenerative medicines. Rising government and private funding for research of regenerative medicine is promoting the biobanking market. For instance, in 2017, National Institute of Dental and Craniofacial Research (NIDCR) invested around $52 million in basic, translational, and clinical regenerative medicine research. The increasing application of biobanking for development of regenerative medicines is also contributing in the market growth.
The increasing international awareness for the need of biobanking is promoting the growth of biobanking market. Biobanking plays an important role in advancing biomedical and translational research by providing better opportunities for collection and preservation of biological samples such as blood, tissues, and nucleic acids which are used in research endeavors to discover disease-relevant biomarkers. Moreover, several pharmaceutical companies are investing extensively in drug discovery and developing their pipeline products which requires the application of biobanking. For instance, Novo Nordisk with the support of UK Biobank is discovering novel drug targets for several chronic conditions such as diabetes, cardiovascular liver, kidney diseases and obesity.
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Asia Pacific is estimated to account for the highest CAGR in biobanking market over forecast period. The improving research infrastructure, emergence of diseases, and increasing adoption of new technologies in this region is contributing to the growth of biobanking market. Moreover, extensive government initiative and investment for development of novel pharmaceutical products is attributed to increasing use of biobanking.
Segmentation based On:
GLOBAL BIOBANKING MARKET – ANALYSIS & FORECAST, BY PRODUCT & SERVICE:
Sample Processing Equipment
Sample Analysis Equipment
Sample Transport Equipment
Services & Software
GLOBAL BIOBANKING MARKET – ANALYSIS & FORECAST, BY SAMPLE TYPE:
GLOBAL BIOBANKING MARKET – ANALYSIS & FORECAST, BY STORAGE TYPE:
GLOBAL BIOBANKING MARKET – ANALYSIS & FORECAST, BY APPLICATION:
Life Science Research
Table of Contents
- Market Definition
- Market Ecosystem
- Market Classification
- Geographic Scope
- Years Considered for the Study
- Historical Years – 2016 & 2017
- Base Year – 2018
- Forecasted Years – 2019 to 2030
- Currency Used for the Study
- Report Beneficiary List
- RESEARCH METHODOLOGY
- Research Framework
- Data Collection Technique
- Data Sources
- Secondary Sources
- Primary Sources
- Market Estimation Methodology
- Bottoms Up Approach
- Top Down Approach
- Data Validation and Triangulation
- Market Forecasting Model
- Limitations of the Study
- Assumptions of the Study
- ABSTRACT OF THE STUDY
- MARKET DYNAMICS ASSESMENT
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