Global Biobank Market Trends, Analysis, Growth, and Forecast: 2018 to 2027

MarketResearch.biz delivers in-depth insights on the global biobank market in its upcoming report titled, “Global Biobank Market Trends, Applications, Analysis, Growth, and Forecast: 2018 to 2027”. The global biobank market is estimated to register a CAGR of X.X% in terms of value during forecast period 2018–2027. The report offers in-depth insights, revenue details, and other vital information regarding the target market, and the various trends, drivers, restraints, opportunities, and threats till 2027. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global biobank market report has been segmented on the basis of product type, bio-preservation media type, application, end user, and region.

Bio banking refers to structured collection of biological samples and data associated with it. Biobank plays an important role in drug discovery, clinical trials, and in preservation of indigenous species. Biobanks can be established in medical research institutions, pharmaceutical or biological companies, or as a standalone bio repository.

Increasing number of gene based clinical studies across the globe is a leading factor driving growth of the global biobank market. Genetic study plays important role in identification of genetic base of complex disease and to develop more accurate treatment method or drug to overcome the disease.

The disease oriented biobanks, collects samples from patient for study and research of genetic and non-genetic risk factors of disease. These biobanks are generally located in to hospitals and clinical research institutes.

Some biobank recruits people for clinical trials and collect their biological samples for various research applications. However, regulations and stringent guidelines related to this is a challenging task for biobanks to recruit people and conduct clinical studies.

However, to establish biobank requires large amount of funds, which a major factor hampering growth of the global biobank market in emerging countries such as India, China, and Indonesia. Additionally, lack of required skilled healthcare professionals in these countries is another factor restraining growth of target market.

North America market dominates the global biobank market in terms of revenue contribution as compared to that of markets in other regions. This is mainly attributed to strong presence of healthcare research institutions, well developed healthcare sector, and availability of funds. According to BioMed Central, in 2008, US has stored 270 million specimens and continued collection of new 20 million samples each year.

Europe accounts for second-largest revenue share contribution to the global biobank market, followed by markets in the Asia Pacific, Latin America, and the Middle East & Africa respectively. The market in the Asia Pacific is projected to register comparatively faster growth in terms of revenue over the forecast period, owing to increasing investment into clinical trials by government and leading players of the healthcare market.

Global Biobank Market Segmentation:

Global biobank market segmentation, by product type:

• Equipment
• Consumables
• Systems

Global biobank market segmentation, by bio-preservation media:

• Optimized pre-formulated media
• Non-optimized isotonic formulation media

Global biobank market segmentation, by application:

• Regenerative medicine
• Bio banking
• Drug discovery (clinical research)

Global biobank market segmentation, by end user:

• Research organizations
• Diagnostic clinical centers
• Others

Global biobank market segmentation, by region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa