The global Biobanks Market size is expected to reach USD 100.8 billion by 2030, according to a new report by Grand View Research, Inc., registering a CAGR of 4.6% during the forecast period. Biobanks continue to evolve with the introduction of new technologies, such as NGS, and increased focus on genomic medicine. The availability of several types of biospecimens to cater to multiple domains including drug discovery, diagnostics, and others has accelerated the diversification of biorepositories, thereby driving the market. The quality of biospecimens can significantly influence disease testing as well as preclinical and clinical research. Regulatory agencies have played a vital role in spurring the adoption of biobanking services by establishing guidelines for the effective management of samples.
For instance, the U.S. Centers for Disease Control and
Prevention (CDC) released guidelines to minimize human hazards while handling
COVID-19 samples. This serves as a model for other biorepositories.
Furthermore, as the number of research studies and clinical trials related to
COVID-19 is increasing, the demand for high-quality biospecimens is expected to
significantly increase in the near future, leading to market growth. In
addition, population-based cohort studies are facilitated by biorepositories to
estimate the actual seroprevalence. Health Catalyst, Inc., through its
Touchstone platform, provides national data related to COVID-19 insights. Such
factors are anticipated to contribute to the revenue flow in this space.
The ‘BioResource’ was created in October 2021 by RareCan,
a Hexham-based healthcare start-up dedicated to improving studies into the
uncommon forms of cancer. BioResource will retain samples taken after surgery
from cancer patients and make them accessible to researchers across the globe
who can use them to cure, prevent, and identify the disease. In December 2021,
Newcastle University introduced a new collection of human blood
samples and donated human tissue, which could transform efforts to
cure rare cancers. The U.K. Biobank has announced that fresh data from a study
measuring the range of circulatory metabolomics biomarkers has been added to
its database. Nightingale Health, a Finnish business specializing in blood
biomarker technologies, conducted the study with 120000 participants.
North America dominated the market with its wide
network of centers for biosample storage in the U.S. Moreover, a high number of
COVID-19 cases in the U.S. and increased R&D programs have resulted in the
establishment of new biorepositories, thereby driving revenue in North America.
In Asia Pacific, the market is anticipated to register the fastest growth owing
to the ever-expanding pharmaceuticals and clinical research domain across the
Asian countries. The key players are engaged in expanding their global reach by
partnering with global distributors, mergers, and acquisitions of other
players, and entering a strategic alliance with research communities.
Related Press Release@ Biobanks Market Report
Biobanks Market Report Highlights
- The biobanking equipment segment accounted for the maximum revenue
share in 2021 owing to the high cost of instruments coupled with an
increase in the number of biorepositories
- The biobanking and repository services segment accounted for the
largest revenue share in 2021 due to the higher penetration of these
services and the increased need for the preservation of biosamples for
developing precision medicine and disease-specific research
- Human tissues are the most stored sample for clinical research,
resulting in the dominance of this sample type in the market
- The virtual biobanks segment is anticipated to witness the fastest
CAGR over the forecast period owing to the growing demand for 3D
biospecimens coupled with the need for rare disease data for biomedical
research
- The therapeutics application segment accounted for the largest
revenue share in 2021 owing to the growing popularity of cell therapies
for cancer treatment
- Several pharma/biotech companies have established their private
banks to support clinical trials and the development of cell therapies,
resulting in revenue growth in this segment
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
Toll Free: 1-888- 202-9519
Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com
No comments:
Post a Comment