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The Global Biobanking Market Size, Share, and Trends are estimated to reach $60,596 million by 2026, growing at a CAGR of 6.3% over the forecast period of 2021-2026. Biobank collects biological samples and associated information for research and development purposes and is organized systematically. As a result, Biobanking is becoming an essential resource in healthcare research for supporting contemporary research, such as personalized medicine and genomics.
Biobanks in most developed nations were established as local units to support specific research projects. Moreover, Modern biobanks worldwide permit large-scale analysis with well-annotated biological and clinical data. Major growth factors of the Biobanking market include growing funding from government organizations, rise in the application areas of biobanking samples, and increasing investment in research and development activities by healthcare companies across the world.
During the forecast period, the market for solid tissue is predicted to develop at the fastest rate of XX%. Quality fresh solid tissues are critical for molecular -diagnostics and translational cancer research. Therefore, solid-tissue samples are primarily collected in hospitals for urgent procedures. In addition, the growing prevalence of neurological and cardiovascular disorders and the demand for regenerative medicines are propelling solid tissues.
The Biobanking Industry for Disease-oriented Biobank is predicted to develop at the fastest CAGR during the projection period. Disease-oriented biobanks across the globe store more heterogeneous collections of biological materials. Disease-oriented biobanks focus on single tissue types, such as brain, and multiple tissue types, such as pancreatic, breast, liver, and colon specimens held in a cancer biobank. In addition, most of the Disease-oriented biobanks have affiliations with hospitals for collecting samples representing a variety of diseases, which is driving the Biobanking market growth.
North America held the largest share of the Biobanking market in 2020, with a global market share of 35.3%. The demand for Biobanking in North America is growing owing to the increasing number of research and development activities in genomics, the growing availability of hospital-based biobanks, and the demand for cost-effective drug development. Furthermore, the rise in the need for various treatment options for several chronic diseases owing to the availability of technologically advanced devices is propelling the demand for Biobanking in the region.
The Asia Pacific is set to be the fastest-growing over 2021-2026. The major drivers for the rapid growth of the Biobanking market in the Asia Pacific are the growing awareness about biobanks, increasing focus on early diagnosis of various diseases, and the rise in the adoption of disease-oriented Biobanks for research activities in the region.
Growing demand for Biobanking for regenerative medicine applications.
Biobanking effectively plays a role in advancing translational and biomedical research by preserving and collecting samples, such as nucleic acids and blood tissues that are available for discovering disease-relevant biomarkers. In addition, technological advancements in orthopedic treatments with stem cells are propelling the demand for regenerative medicines worldwide.
Moreover, the growing focus by the government on funding is supporting the research activities on regenerative medicines. Regenerative medicine and tissue engineering are increasingly playing significant roles in treating intractable conditions, such as chronic osteoarthritis, chronic heart failure, stroke, and other disorders, propelling the demand for Biobanking. Researchers in developed nations are focusing on stem cell banking, such as cord blood, bone marrow, adipose tissue methodology, to enhance the utilization of stem cells in pre-clinical and clinical trials and animal models.
Long-term financial sustainability of biobanks.
Long-term financial sustainability is one of the significant challenges faced by the biobanks. Many managers and researchers worldwide cited economic sustainability as the foremost hurdle to ensure the long-term stability of biobanks. Funding of biobanks involves many streams, such as commercialization of derived products, cost recovery related to samples, financing from private entities, and funding through governmental agencies and institutions. However, long-term sustainability requires more than just covering the marginal costs. During the projected period, the impact of this difficulty is predicted to be moderate.
The report "Global Biobanking Market" by Research Informatic covers an in-depth detailed analysis for the following segment covered under the scope.
Biobank is a procedure of collecting biological samples and associated information for research and development purposes and is organized systematically. Biobanking is becoming an essential resource in healthcare research for supporting contemporary research, such as personalized medicine and genomics.
The Global Biobanking Market Size, Share and Trends are estimated to reach $60,596 million by 2026, growing at a CAGR of 6.3% over the forecast period of 2021-2026.
Biobanking effectively plays a role in advancing translational and biomedical research by preserving and collecting samples, such as nucleic acids and blood tissues that are available for discovering disease-relevant biomarkers. Technological advancements in orthopedic treatments with stem cells are propelling the demand for regenerative medicines across the world.
Thermo Fisher Scientific Inc (US), Qiagen N.V. (Germany), Tecan Group Ltd (Switzerland), Brooks Automation (US), Hamilton Company (US), VWR Corporation (US), Worthington Industries (US), Becton, Dickinson and Company (US), LVL Technologies (Germany), Panasonic Healthcare Holdings (Japan)
North America held the largest share of the Biobanking market in 2020, with a global market share of 35.3%. The demand for Biobanking in North America is growing owing to the increasing number of research and development activities in genomics, the growing availability of hospital-based biobanks, and the demand for cost-effective drug development.
Blood Products, Cell Lines, Solid Tissue, Nucleic Acid, Biological Fluids, Human Waste Products
Published On:Nov-21
Base Year:2020
Historical Data:2017 - 2019
No of Pages:120
Biobanking Market By Specimen Type (Blood Products...
RD Code : HP22