According to TechSci Research report, “Biobanks Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2017-2027”
The global Biobanks market stood at USD40.70 billion in 2021 and is expected to grow at an impressive rate of 8.22% during the forecast period. The growing demand of Biobanks for collection of samples and treating severe disease are categorized based on Type used in Biobank such as Disease Oriented Biobanks, Population Based Biobanks, Tissue Biobanks and others are expected to support the market growth through 2027. Besides, the COVID-19 pandemic crisis has contributed to a significant impact in the Biobanks market. New clinical trials and drug discovery leads to the development of personalized medicine that provides medication to various types of infectious diseases and relief the patients from these deadly diseases like Cancer, creating a need of more biobanks in future. Protecting the rights of research participants and ensuring the successful and long-term operation of research biobanks require public awareness and engagement to drive the market growth through 2027. Also, Biospecimens are essential for disease-oriented research in humans. Government and commercial funding agencies must continue to acknowledge the value of biobanks in enhancing our knowledge of health and illness to foster the market growth during the forecast period. Various technology advancement and innovations in the sector of Biobanks to enhance the growth yield is also one of the reasons to boost up the market of Global Biobanks Market. Addition to this, various clinical trials have been approved for drugs for the treatment of various diseases.
However, several strategies such as product launches and approvals, marketing and promotional activities, acquisitions, increase R&D investment, strengthen their distribution networks, supply and demand chain and product publicity need to be improve as these factors are expected to hamper the market growth during the forecast period.
Browse over 137 market data Figures spread through 110 Pages and an in-depth TOC on “GLOBAL BIOBANKS MARKET“
The global Biobanks market is segmented based on By Type, Sample Type, By Application, By End User, company, and regional distribution. In terms of Type, the market can be categorized into Disease Oriented Biobanks, Population Based Biobanks, Tissue Biobanks and Others. Disease-oriented biobanks dominate the market since they are linked with a hospital where samples are collected to represent a variety of conditions, whereas population-based biobanks are not frequently affiliated with a hospital because they collect samples from huge groups of people. In terms of Application, the market can be categorized into Therapeutics, Drug Discovery, Clinical Diagnostics and Clinical Research. Therapeutic segment dominated the market in 2021 with a share of 54.48% as many of the severe diseases require the personalized medicine for its treatment and therapeutic banking include both adult stem cell and umbilical cord blood. These stem cells are used in various treatments such as cancer, diabetes, liver cirrhosis thus, require the usage of more diseases based biobank to prevent it from serious infection otherwise it can lead to increase in chronic diseases all over the globe. Increase in demand for biospecimens from clinical labs to develop assays for genetic testing and collaborations between private and public institutions in biobanking are playing a crucial role in market progression and thus boost the Development of more Therapeutic Biobanks to support this segment growth. The Market is also categorized based on End User such as Academic & Research Institutes, Pharmaceutical & Biotechnology Companies, Hospitals & Clinics and Others. Academic & Research Institutes dominated the market in 2021 with a share of 45.82% as Academic biobanks help academic and industry researchers conduct preclinical and translational research by collecting, preserving, analyzing, and disseminating biological samples and data. Hundreds of academic biobanks have been established in the last decade to promote personalized medicine, genetic and genomic research, biomarker identification, and companion diagnostic development.
Key market players in the Biobanks market include:
- Danaher Corporation
- Merck KGaA
- Becton, Dickinson, and Company
- Avantor, Inc.
- Thermo Fisher Scientific, Inc
- Tecan Trading AG
- QIAGEN N.V.
- Hamilton Company
- ProMedDx, LLC
- ISENET Biobanking S.r.l.
There are a lot of players operating in the global biobanks market. The market is hence fragmented with few well established players and various regional players. The major companies operating in the market are focusing on expanding their service portfolio and sample collection sizing in order to stay competitive in the market and having an edge over other player.
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“The Asia Pacific region will register the highest growth during the forecast period. Government regulations, together with an increase in the number of biobanks for Research and Development activities, will propel regional industrial growth. Additionally, supportive government policies and schemes launched by them across different countries in the region is expected to support market growth. More than 120 biobanks have been established around the world in the last 30 years. They are diverse in size, ranging from small, largely university-based repositories to large, publically sponsored resources. They collect and preserve samples, as well as provide clinical, pathological, molecular, and radiological information for individualized medicine research., this drives the growth of Biobanks in the forecast Period.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based Global management consulting firm.
“Biobanks Market – Global Industry Size, Share, Trends, Competition, Opportunity and Forecast, 2017-2027
Segmented By Type (Disease Oriented Biobanks, Population Based Biobanks, Tissue Biobanks, Others), By Sample Type (Blood Products, Biological fluids, Nucleic Acid, Cell Lines, Others), By Application (Therapeutics, Drug Discovery, Clinical Diagnostics, Clinical Research,), By End User (Academic & Research Institutes, Pharmaceutical & Biotechnology Companies, Hospitals & Clinics, Others), By Region has evaluated the future growth potential of global biobanks and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in global biobanks market.
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