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Biobank Market Statistical Data, Top Manufacturing Companies, Share, New Techniques and Growing Industry Trends by 2026

Biobank a type of repository, which is typically employed for collection and storage for biological and biomedical samples for biomedical research. It includes human biological materials such as blood, urine, serum, saliva, purified DNA, and other specimens. For the preservations of cells and tissues, cryopreservation technique is used, in which specimens are preserved at -196 degrees Celsius. Biobanks are used to keep health-associated records including genetic information, family history, and lifestyle-related information. It helps researchers to detect human diseases and their specified causes by conducting various tests on samples. BIOBANKS are also used to conduct various researchers such as stem cell research, drug reactions, minimizing drug reactions, and updating age demographic databases. Furthermore, biobank plays a crucial role in research and development related to drug discovery and drug development by providing assistance in gaining insight into orphan diseases related to genome

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Development of custom medicine to innovate effective therapies is expected to drive global biobank market growth

Growing adherence to pre-clinical trials using human tissues and stems cells by reducing cost-associated drug failures is expected to drive global biobank market growth. Moreover, increasing development in cell and tissue disease treatments, drug discovery and increasing prevalence of chronic diseases coupled with growing government initiatives for innovation of regenerative medicines are expected to drive growth of global biobank market. Moreover, research organizations are developing effective therapies to fulfill growing medical requirements are some of the major factors driving growth of the market.  For instance, in 2016, Illumina, a biopharmaceutical and biotechnological company, entered into 4 biobank agreements with Partners HealthCare, Montreal Heart Institute, University of Colorado, and Vanderbilt University with an aim to improve healthcare and develop personalized medicines. However, cost-effective techniques, tissue injury during freezing, reimbursement concerns, lack of standardization, confidentiality and surveillance issues, economic downturn, and ethical issues are major factors restraining the global biobank market growth.

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Establishment of drug efficacy aids in dominance of target tissue segment

The global biobank market is segmented on the basis of bio preservation media types, products, analysis, applications, end user, and geography.

On the basis of bio preservation media types, the global biobank market is segmented into:

  • Optimized Pre-Formulated Media
  • Non-Optimized Isotonic Formulation Media

On the basis of products, the global biobank market is segmented into:

  • Consumables
  • Equipment
  • Refrigerators and Ice Machines
  • Liquid Nitrogen Supply Tanks
  • Cryogenic Storage Systems

On the basis of analysis, the global biobank market is segmented into:

  • Human tissue and tumor cells
  • Bio-fluids
  • Stem cells
  • Umbilical cord

On the basis of application, the global biobank market is segmented into:

  • Biobanking
  • Regenerative Medicine
  • Drug Discovery

On the basis of end-user, the global biobank market is segmented into:

  • Diagnostic Clinical Centers
  • Research Organizations
  • Others

Increasing funds from National Institute of Health, U.S. is expected to dominate North America in the global biobank market

Regional segmentation of the global biobank market by Coherent Market Insights comprises North America, Latin America, Europe, and Asia-Pacific. According to BioMed Central’s research, the U.S. stored 270 million specimens in biobanks in 2008, with the rate of new samples collected being 20 million every year. Among regions, North America is expected to hold dominant position in the global biobank market with increasing funds from healthcare organizations such as National Institute of Health (NIH) and National Cancer Institute, which facilitate biobanks across the U.S. Moreover, growing interest in biotechology has facilitated collaborations of biobanks, which is expected to augment the global biobank market during the forecast period. Asia Pacific is expected to have a lucrative biobank market, owing to rise in diseases, government initiatives to finance the cell-based therapies, substantial investment by pharmaceutical, high number of biotechnology companies, and public awareness.

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Automation of storage processes is the latest trend adopted by 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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Last Updated: 07-Dec-2020