Visiongain has released a new report titled Biobank 2022-2032. It includes Biobank Profiles and Forecast Market Segment by Type (Standalone, Partnership) Market Segment by Application, (Regenerative Medicine, Life Science Research, Clinical Research) Market Segment by Ownership, (National/Regional, universities, non-profit, private) Market segment by sample type (blood products, human tissues, nucleic acids, cell lines, biological fluids, other samples) Market segment by product and service (equipment, consumables, services, software) plus COVID-19 Impact Analysis and Recovery Model Analysis (“V-Shaped”, “W-Shaped”, “U-Shaped”, “L-Shaped”), Key Company Profiles, region and country.
The global Biobanking Market was valued at USD 56,955 million in 2021 and is projected to grow at a CAGR of 4.67% during the forecast period 2022-2032.
Growing Opportunities for IT Companies in the Biobanking Market
Biobanks strive to allocate funding to IT companies because it is suitable for all biobanking activities, from recruiting subjects to publishing research results. Primary investment objectives include specimen management as well as an accessible channel for organizations and individuals. An area of growing interest is the use of common standards to provide access to clinical and experimental databases. If the ontologies are properly standardized, this allows a thorough annotation of the examples. For example, the ongoing and resource-intensive standardization of disease coding and specimen categorization. Standardization will become a major bottleneck for biobanks if it is not completed in time. Scientists are also concerned about interoperability between biobanks around the world.
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How has COVID-19 had a significant negative impact on the biobank market?
Globally, the coronavirus disease 2019 (COVID-19) outbreak is having a significant influence on the social, political, economic and health systems of many countries around the world. There are several concurrent clinical concerns during a pandemic, from the urgent need to understand the biology of the disease to the need for optimal treatment of patients and prevention of cases in the future. Research infrastructures, and in particular biobanks, have positioned themselves at the forefront of the many distinct COVID-19 responses that are needed. Initiatives have been reported to compile population-level databases of COVID-19 patients, symptomatic carriers, and members of the general public in the European Union (EU), Taiwan, and other locations. An attempt to build clinically meaningful cohorts also occurs in low-resource settings where some infrastructure was accessible and maintained over time. In many cases, this effort is linked to a management structure that is more open to sharing specimens and data.
How will this report help you?
Visiongain’s 558-page report provides 357 charts and 309 charts/graphs. Our new study is suitable for anyone who needs in-depth business analyzes of the global biobanking market, as well as detailed analysis of market segments. Our new study will help you assess the entire global and regional Biobanking market. Get the financial analysis of the overall market and different segments including type, process, upstream, downstream, and business size, and capture a higher market share. We believe there are strong opportunities in this growing biobanking market. Find out how to use the existing and upcoming opportunities in this market to generate revenue in the near future. Moreover, the report will help you improve your strategic decision-making, enabling you to set growth strategies, strengthen analysis of other market players and maximize business productivity.
What are the current market drivers?
The rapid development of the field of biobanks provides access to vast sources of human biological material and related data
The main objective of biobanks seems to be the knowledge of diseases and the creation of new therapies. Additionally, while the goal of biobank research is to shed new light on the genetic underpinnings of human disease, another key goal is to provide a more automated and tailored approach to therapy. With the rapid growth of biobanks, it is now possible to collect large repositories of non-human biological material, including plants, animals, and microorganisms, among others. The expansion of many biobanks along with reporting and tracking is expected to revolutionize research, enabling personalized medicine and other benefits.
Increased focus on genetic testing and precision medicine
Today’s mainstream therapies often don’t work because they don’t take into account a person’s unique traits and genetic makeup. The search for more effective and precise treatment throughout history led to the creation of the scientific field known as “personalized medicine”. Personalized medicine has been recognized by the next generations of diagnosis and treatment following important technical developments in this field. Although it has garnered a lot of attention lately, significant obstacles still hinder its application in clinical practice. The limits were recently revealed due to the COVID-19 pandemic. Precision and personalized medicine is transforming medical diagnosis and paving the way for in-depth patient-centric diagnostics.
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Where are the market opportunities?
Advancement of biomedical research and personalized treatment require human biospecimens
The development of personalized medicine and the discovery of biomarkers depend on human biospecimens. Biobanks collect, store and distribute cells, blood, various biofluids and residual tissue samples from patients for scientific study. Until recently, the market was very diverse, with biobanks catering to a particular market and typically not maintaining a comprehensive collection of testing information for each sample. It needs an overhaul, which thankfully several exciting new companies are starting to deliver. For the successful use of biospecimens, associated data and downstream research, as well as for the biotechnology and pharmaceutical industries, biobanks are essential resources. The best biobanking techniques are highly dependent on individuals and their interests. By exchanging information, using state-of-the-art technological solutions and complying with some of the latest standards, biobanks can reach their full potential.
Growing focus on cell therapies
Patients can now receive treatment for a variety of diseases that were previously incurable due to the development of the cell and gene therapy industry. As a result, pharmaceutical companies spend a lot of money on research and development to develop new therapies, and several gene and cell therapy pharmaceuticals are now in the early stages of development. Along with substantial investments in R&D, the industry is expected to experience strong commercial growth. Emerging economies around the world offer a wide range of business opportunities to stakeholders.
The major players operating in the biobanking market are AMS Biotechnology (Europe) Ltd., ASKION GmbH, Avantor, Inc., Azenta, Inc. (Azenta), Bay Biosciences LLC, Bioivt & Elevating Science, Boca Biolistics, CTI Biotech, Cureline Inc., Firalis SA, Geneticist Inc., Hamilton Bonaduz AG, Isenet Biobanking, Merck & Co., Inc., ProteoGenex Inc., Qiagen NV, Stemcell Holdings, Inc., STEMCELL Technologies Inc., Thermo Fisher Scientific Inc., US Biolab Corp. Inc. The major players operating in this market have adopted various strategies including mergers and acquisitions, R&D investments, collaborations, partnerships, regional business expansion, and new product launches.
On May 5, 2022, Avantor, Inc. announced plans to combine its current distribution center with new manufacturing operations in Singapore to establish a new manufacturing and distribution center.
On April 19, 2022, Applied Cells Inc. and STEMCELL Technologies Canada Inc. announced their partnership to develop a new high-performance cell separation solution that combines Applied Cells’ MARS® platform with STEMCELL’s EasySepTM immunomagnetic cell separation kits. Through this collaboration, researchers around the world will be able to more efficiently and automatically separate high-quality cells from a variety of sample types, including whole blood, bone marrow, apheresis products, and dissociated tissues.
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