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Asia-Pacific Biobanks Market Research Report – Segmented By Product Type, Sample Type, Application & Country (India, China, Japan, South Korea, Australia, New Zealand, Thailand, Malaysia, Vietnam, Philippines, Indonesia, Singapore and Rest of APAC) - Industry Analysis on Size, Share, Trends, COVID-19 Impact & Growth Forecast (2022 to 2027)

Published: January, 2022
ID: 443
Pages: 143
Formats: report pdf report excel report power bi report ppt

APAC Biobanks Market Size (2022 to 2027)

The size of the Asia Pacific biobanks market is expected to increase at a CAGR of 8.56% between 2022 to 2027. As a result, this market will be worth USD 71.71 million by 2027 from USD 47.56 million in 2022. APAC Biobank market contributes to the advancement of biomedical and translational research by collecting and preserving biological samples such as blood, tissues, and nucleic acids, which are then made available for use in research to discover disease-relevant biomarkers; this information is then used for diagnosis, prognosis, and drug response prediction.

The biobank is basically a type of biorepository which stores the biological samples (mainly human samples) used for research purposes or even for treatment. In the coming years, the Asia Pacific region is predicted to stand as a tough contender, with the developed region's reason being rapid population growth. In addition, an increase in chronic diseases, which can be treated or else studied with the help of resources in the biobank, is a major driver for Asia pacific market. Furthermore, government policies and funding for modernizing the healthcare industry will strongly boost the APAC biobanks market.

The increase in the number of research activities in this area is a major market driver. In addition, the availability of government financing for regenerative medicines, stem cell treatments, and cell and gene therapy is fueling this segment’s research. Aside from that, the growing trend of cord blood banking will help this market segment develop. In addition, prospects, such as developments in orthopedic operations, including the use of stem cells, are projected to fuel regenerative medicine market growth.

There is an inclination in the Asia Pacific market for Biopreservation systems due to increased demand for tissue banking, stem cell banking, and umbilical cord banking. The dependence of researchers from all scientific realms on biobanks increased tremendously for providing samples. For the industrial development of diagnostics and therapeutics and medical research, biological material and related data have become an important resource.

The poor productivity rate of the pharmaceutical industry concerning the new drug approvals is driving the Asia Pacific market. The vision of personalized medicine is also endorsed for the growth of this market.

The major drawbacks involve storage and handling problem, regulatory issues, and cost-competitive procedures. The expansion of the market is projected to be hampered by regulatory concerns, high method costs, and a lack of standardization. Because of the variety of biological samples held in biobanks, developing a unique procedure for them can be a difficult process, and the cost of the approach varies depending on the type of sample.

This research report on the Asia-Pacific Biobanks market has been segmented and sub-segmented into the following categories:

By Product Type: 

  • Equipment
  • Consumables

By Sample Type: 

  • Human Tissues
  • Stem Cells
  • DNA Or RNA
  • Bio-fluids
  • Others

By Application: 

  • Therapeutic Applications
  • Research Applications
  • Clinical Trials

By Country: 

  • India
  • China
  • Japan
  • South Korea
  • Australia
  • New Zealand
  • Thailand
  • Malaysia
  • Vietnam
  • Philippines
  • Indonesia
  • Singapore
  • Rest of APAC

The Asia Pacific region is predicted to grow at the fastest rate, with Japan, China, and India leading the way. Increasing government investment in the biomedical, pharmaceutical, and biotechnology industries and improving life sciences research infrastructure in emerging economies are some of the drivers driving market expansion in the Asia Pacific region. However, the high cost of automation and challenges with obtaining biospecimen samples are projected to limit market growth to some extent.

India and China are major contributors to the market growth. Growing investments and rising population are propelling the demand of the biobanks market in these countries.

To retain and expand their position in the biobanking market, the major industry players released revolutionary products. The main company in this market has been identified as Panasonic Healthcare Holdings Co. Ltd, Japan.

Other elements that have a beneficial impact on developing the region’s marketplaces include population growth and greater clinical research.

The biotechnology sector in the region has growth potential as a result of increased research activities. This expansion is owing to a significant amount of support from various government and private groups. The existence of regional players further aids the market’s development. The Asia Pacific region may have the quickest growth during the predicted period as the total number of newly deposited organic species rises.

KEY MARKET PLAYERS:

Some of the dominating companies operating in the Asia-pacific Biobanks Market profiled in this report are Beckman Coulter, Tecan group, Taylor- Wharton, Panasonic biomedical, Teva Pharmaceuticals, Biolife Solutions, Custom biogenic systems, Princeton cryotech, Fluidx, Tissue solutions, Wildcat laboratory solutions, Micronik and Brooks life science systems.

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