Global Bio-Banking Industry
A new report recently added to the online inventory of Wise Guys Reports (WGR) reveals that the Global Bio-Banking Market is expected to proliferate and achieve an exceptional compound annual growth rate of 7.2% between the projection period 2018 and 2023. Advancement in genomic science and regenerative medicine research, and considerable funding from government and private institutions are the significant factors dictating the market growth during the forecast period.
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A biobank is a biorepository used to store human biological specimens for research purposes. Research groups use most of the bio-banked samples to develop new methods and treat cancer effectively. Collaborative governmental policies and financing from private and government enterprises both have driven market growth in biobanks. Government and philanthropic institutions have endorsed large biobanks while the pharmacy biobanks are primarily maintained through private investment. Apart from that, other factors that contribute to Global Bio-Banking Market include the advancement of genomic science and other research programs such as the consortium for clinical proteomics tumor analysis. Growing requirements for cost-effective drug development and progressions in biobanking are also significantly contributing to market growth.
One of the dominant therapies to treat ailments such as Alzheimer’s, diabetes, tumors, and rare genetic disorders is regenerative medicine using stem cell engineering. The primary requirement is to preserve Umbilical cord cells and other stem cells to draw treatment benefits. With the increased awareness of stem cell therapies, more and more parents are choosing umbilical cord banks for their children, thus accelerating the growth of the Bio-Banking market. The use of Stem cell practices is growing worldwide while contributing to the development of new solutions to effectively treat several diseases. For instance, treating disorders like muscle degeneration with the help of adult stem cells is now entering phase three clinical trials in Japan. The enhanced success rate is encouraging various government and private institutions to fund stem cell research, which, in turn, is going to impact the Bio-Banking market during the forecast period. Issues associated with the procurement of samples of biospecimens and a strict regulatory framework in action, however, could hamper the Bio-Banking industry’s growth rate.
Global Bio-Banking Market: Segmental Analysis
The Global Bio-Banking Market is segmented by
- Sample type
- Application
Global Bio-Banking Market: Regional Analysis
Based on geography, the Global Bio-Banking Market has been fragmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). Owing to the significant amount of work in the fields of cell & gene therapy besides regenerative medicine, North America is expected to dominate the global biobanking industry during the projection timeline. Additionally, The United States has the world’s most massive R&D budget and improved health services.
Various pharmaceutical/biotech companies, academies, and research institutes globally are making use of biobanks to store DNA, RNA, saliva, blood, semen, tissues, cells, and other specimens to aid their respective research works. The activity is expected to boost the Bio-Banking Market growth and in the upcoming years.
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Table of Contents
CHAPTER 1. REPORT SUMMARY
CHAPTER 2. MARKET OVERVIEW AND INSIGHTS
CHAPTER 3. MARKET DETERMINANT
CHAPTER 4. MARKET SEGMENTATION
CHAPTER 5. COMPETITIVE LANDSCAPE
CHAPTER 6. REGIONAL ANALYSIS
CHAPTER 7. COMPANY PROFILES
7.1. ABBOTT LABORATORIES INC
7.2. AFFYMETRIX, INC
7.3. ASTERAND PLC
7.4. ASTRAZENECA LTD
7.5. BAYER SCHERING PHARMA AG
7.6. BIOCHAIN-GENOMICS
7.7. BIOSTORAGE TECHNOLOGIES, INC.
7.8. BOEHRINGER INGELHEIM GMBH
7.9. BRISTOL-MYERS SQUIBB CO
7.10. CANCER GENETICS
7.11. DAIICHI SANKYO COMPANY, LTD
7.12. ELI LILLY AND COMPANY
7.13. EXIQON LIFE SCIENCES
7.14. F. HOFFMAN-LA ROCHE AG
7.15. GLAXOSMITHKLINE
7.16. JOHNSON & JOHNSON LTD
7.17. MERCK & CO.
7.18. MILLENNIUM PHARMACEUTICALS
7.19. NOVARTIS AG
7.20. PFIZER INC
7.21. SANOFI-AVENTIS
7.22. SCIPAC
7.23. TAKEDA PHARMACEUTICALS LTD
7.24. TEVA PHARMACEUTICAL INDUSTRIES LTD. TABLE # 1 GLOBAL BIOBANKING MARKET RESEARCH AND ANALYSIS, BY GEOGRAPHY, 2017-2023 ($ MILLIONS)
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