A recent report published by Infinium Global Research on biobanks market provides in-depth analysis of segments and sub-segments in global as well as regional biobanks market. The study also highlights the impact of drivers, restraints and macro indicators on the global and regional biobanks market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global biobanks market. According to the report the global biobanks market is projected to grow at a CAGR of 8.2% over the forecast period of 2018-2024.
Biobanks are biorepository that accepts, processes, stores and distributes biospecimens and associated data for use in research to improve understanding of health & disease and clinical care. It covers collections of plant and animal, including human specimens. There has been a tremendous shift in biobanking over the past 30 years. It started with small, predominantly university-based repositories that were developed to cater to the research needs of specific projects. Thereafter, evolved institutionally and government supported repositories, commercial (for-profit) biorepositories, population-based biobanks and most recently, virtual biobanks. Population-wide biobanks are one of the most commonly found biobanks around the globe. It has been developed in several developed countries such as the U.S, Canada, Singapore, Japan, and many other countries. These population-wide biobanks have been created in order to collect, analyze, store phenotypic and genetic information on representative samples of their source populations
Biobanks market was worth XX million in 2017 and is expected to reach XX million by 2024. The samples from biobanks are used for various purposes such as research, therapeutics, clinical trials, and drug development. Factors such as an increase in genomic research activities for studying diseases in order to better understand the causes and mechanism of human diseases is a major factor driving market growth. Also, the growing incidence of chronic diseases coupled with increasing demand for the cost-effective drug to augment the market growth. Furthermore, the growing trend of conserving cord blood stem cells of newborns is also boosting the market growth. High cost to maintain biobanks and lack of adequate legislative structures and governance frameworks that regulate the use and development of biobanks are some of the restraints that hinder the market growth. Developing biobanks through a partnership with high-income countries will help to expand the biobank market in the near future.
Geographically, North America and Europe have the largest market share in the biobanking market respectively These regions have a large number of biobank owing to its plan to establish national genomics research programs. Also, there is huge investment and support from Government and Private Institutes for regenerative medicine research that facilitates growth in this region. The Asia-Pacific is expected to be the fastest growing region during the forecast period. Huge population base and shifting focus towards development of healthcare infrastructure and growing pharmaceuticals & life sciences companies in emerging countries like China, India and other South East Asian countries can lead Asia-Pacific region, to grow at a faster rate. Furthermore many cash-rich established biobank institute, prominently in developed countries are increasingly focused on emerging countries of Asia-Pacific to increase its market presence.
The report on global biobanks market covers segments such as products & service, sample type, and application. On the basis of products & service the global biobanks market is categorized into equipment, consumables, services, and software. On the basis of the sample type, the global biobanks market is categorized into blood products, human tissues, nucleic acids, cell lines, biological fluids, and others. On the basis of application the global biobanks market is categorized into regenerative medicine, life science research and clinical research.
The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and Rest of the World. In this section, the key trends and market size for each geography are provided over the period of 2016-2024. The countries covered in the North America region include the U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India, South Korea, Malaysia, and among others. Moreover, Germany, U.K., France, Spain, and Rest of Europe are included in the European region. The U.S. drives the growth in the North America region as it is the largest market in the region. The Asia-Pacific region offers a substantial potential for the market growth owing to rapid growth in markets such as India and China. The APAC region is projected to experience growth at a CAGR of x.x% over the period of 2018-2024.
The report provides profiles of the companies in the global biobanks market such as Tecan AG, Panasonic Healthcare Holdings Co. Ltd, Thermo Fisher Scientific Inc., Taylor-Wharton International LLC, Becton, Dickinson and Company, Merck KGaA, Beckman Coulter, Inc, BioLife Solutions, Inc, BioCision and LVL Technologies GmbH & Co. KG.
The report provides deep insights on demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the global biobanks market. Moreover, IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of biobanks market. Moreover, the study highlights current market trends and provides forecast from 2018-2024. We also have highlighted future trends in the biobanks market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players. This report will help manufacturers, suppliers, and distributors of the biobanks market to understand the present and future trends in this market and formulate their strategies accordingly.