A biobank is normally defined as a collection of human biological samples and related information organized in a systematic manner for biomedical research purposes. These biological samples comprise of blood, saliva, purified DNA, serum and other samples. Cryopreservation is used for preserving cells and tissues samples at -1960C. The information related to these samples include genetic information, family history and lifestyle. Researchers conduct tests on these biological samples to identify human disease and their unidentified causes. The bio repositories play a significant role in R&D of drugs by providing variety of data. With the help of biobank orphan diseases can be identified with genome-wide studies through single nucleotide polymorphism (SNP).
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Vast development of customised drugs to develop more promising therapies fulfil medical requirements is expected to propel growth of the global biobank market. For instance, in 2016, Illumina made 4 deals with HealthCare, Montreal Heart Institute, Vanderbilt University and University of Colorado to enhance healthcare and develop personalised medications.
Moreover, low productivity rate of pharmaceutical industry with 90% failure of recommended drugs in clinical trials, adherence of human tissue samples and stem cell to conduct pre-clinical trial in order to reduce high cost of drug failure are expected to boost growth of the global biobank market.
Also, increasing cases of chronic diseases, government initiatives for development of regenerative drugs, and novel drug discoveries are projected to drive growth of the global biobank market.
Factors such as high cost of techniques, reimbursement issues, tissue injuries on samples during freezing procedure, inadequate confidentiality and standardization, surveillance problems, and ethical issues are expected to hamper growth of the global biobank market.
The global biobank market is regionally divided into North America, Europe, Latin America, and Asia Pacific.
Among regions, North America is expected to witness robust growth in the global biobank market, owing to availability of funds from healthcare institutes such as National Cancer Institute and National Institute of Health. For instance, in October 2017, the UK ME/CFS Biobank received $2.1 million funds from National Institute of Health for biomedical research.
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Moreover, Asia Pacific is also expected to witness strong growth in the global biobank market due to increasing government initiative to fund cell-based treatment, high prevalence of diseases, growing awareness among people, robust investment by pharmaceutical, and growing number of biotechnological companies.
Key players in the market are adopting various strategies such as collaborations, product launches, mergers and acquisitions to strengthen their portfolio in the global market of biobank. For instance, in April 2019, Thermo Fisher Scientific Inc. launched Thermo Scientific Vanquish MD High Performance Liquid Chromatography (HPLC) system, Thermo Scientific Quantis MD Series mass spectrometer, and Thermo Scientific TSQ Altis MD Series mass spectrometer. By launching these three system, Thermo Fisher Scientific Inc. expanded its instrument portfolio.
In March 2019, Becton, Dickinson and Company introduced CE-IVD certified automated flow cytometry system, BD FACSDuet, the system is used for understanding cell characteristics and counting.
Moreover, in February 2019, Promega Corporation announced the launch of Maxwell RSC miRNA plasma and serum kits, which is used in field of oncology for purifying nuclei acids. These kits can be used in studying biological samples obtained from biobank.
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The global biobank market is divided bio preservation media types, products, analysis, applications, end user and geography.
By bio preservation media types:
Optimized Pre-Formulated Media
Non-Optimized Isotonic Formulation Media
Refrigerators and Ice Machines
Liquid Nitrogen Supply Tanks
Cryogenic Storage Systems
Human tissue and tumor cells
Diagnostic Clinical Centers
Major players active the global biobank market are BioLife Solutions, Inc., Tecan AG, Thermo Fisher Scientific Inc., Beckman Coulter, Inc., Panasonic Biomedical Sales, Taylor-Wharton International, So-Low Environmental Equipment Co., VWR International, and BioCision.
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