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Biobank Market Set for Rapid Growth and Trend, by 2026

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Biobank is a type of repository which collects and store biological samples for biomedical research. The human biological materials include blood, purified DNA, saliva, serum, and other specimens. Preservation of cells and tissues samples is done by
Biobank Market Moving Toward 2026 With New
Procedures
Biobank Market - Global Industry Insights, Trends, Outlook, and Opportunity
Analysis, 2018-2026
Biobank is a type of repository which collects and store biological samples for biomedical research.
The human biological materials include blood, purified DNA, saliva, serum, and other specimens.
Preservation of cells and tissues samples is done by cryopreservation at -1960C or using chemicals.
The biobanks keep a health related records of genetic information, lifestyle, and family history.
Biobank help researchers to detect human diseases and their unspecified causes by conducting various
tests on the samples. Click To Read More On Biobank Market
Biobanks are largely used to access variety of data representing a large number of people for providing
personalized medications, minimizing drug reactions, stem cell research, updating age demographic
databases. The bio-repositories play a fundamental role in research and development, which is
associated with drug development and discovery. Biobanks also provide inevitable assistance in
gaining prospective to orphan diseases associated with genome wide studies via single nucleotide
polymorphism (SNP).
Development of personalized medicine to develop effective therapies drives the global biobank
market
Poor productivity rate of the pharmaceutical industry with 90% failure of proposed drugs during
clinical trials, the adherence of human tissue samples, and stem cells to execute pre-clinical trials for
reducing high cost associated drug failures are the factors expected to drive the growth of biobank
market. Additionally, novelty in cell and tissue disorder treatments, drug discovery, rising incidence of
chronic diseases and government initiatives for innovation of regenerative medicines are the key
factors driving the global biobank market. The extensive development of personalized treatments by
research organizations to develop effective therapies to satisfy medical needs using biological samples
is expected to fuel the demand for biobank market during the forecast period. For instance, Illumina
signed 4 biobank deals in 2016, with Partners HealthCare, Montreal Heart Institute, University of
Colorado and Vanderbilt University with an objective to improve healthcare and develop personalized
medicines. However, cost competitive techniques, tissue injury during freezing, reimbursement
concerns, lack of standardization, confidentiality and surveillance issues, economic downturn, and
ethical issues are the major factors restraining the growth for global biobank market.
Increasing funds from National Institute of Health, USA is expected to dominate North America
in the global biobank market
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Regional segmentation of the global biobank market by Coherent Market Insights comprises North
America, Latin America, Europe, and Asia-Pacific. According to the research conducted by BioMed
Central, United States, stored 270 million specimens in biobanks in 2008, with the rate of new samples
collected being 20 million every year. North America is expected to dominate the global biobank
market with the increasing funds from healthcare organizations like National Institute of Health (NIH)
and National Cancer Institute, which facilitate biobanks across the U.S. Additionally, the rising interest
in biotechology has facilitated collaborations of biobanks which is expected to augment the global
biobank market in the forecast period. Asia-Pacific is expected to have an opportunistic biobank market
owing to the rise in diseases, government initiative to finance the cell-based therapies, substantial
investment by pharmaceutical, high number of biotechnology companies, and public awareness.
Automation of storage processes is the latest trend adopted by the key players
Key players operating the global biobank market includes Thermo Fisher Scientific Inc., BioLife
Solutions, Inc., Beckman Coulter, Inc., Panasonic Biomedical Sales and Tecan AG. New product
launches, increasing collaborations, mergers and acquisitions and partnerships among the market
players are some of the strategies observed in global biobanks market. Biomatrica, IntegenX,
radiofrequency identification, and micro electromechanical systems are the innovative reagents and
products launched for the storage and stabilization of DNA and RNA at room temperature. The other
companies operating in the global biobank market are BioCision, Taylor-Wharton International, VWR
International and So-Low Environmental Equipment Co. among others.
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ravikiran
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