The global biobanks market size is expected to increase at a CAGR of 7.68% between 2020 to 2025. This market was worth USD 224.5 million in 2020 and is forecasted to grow USD 324.9 million by 2025.
Biobanks play a vital role in advancing biomedical and translational research by preserving and collecting biological samples. The samples such as human tissues, blood, and nucleic acid are collected and used to discover disease-relevant biomarkers. Further, these samples are made useful in the diagnosis and prediction of drug response. The market does not include sales generated from the sale of blood used for transfusions to treat medical conditions and statistical data such as gender, age, diet, and lifestyle. The collected data will analyze and distribute biospecimens for search purposes and treating medical conditions. Regenerative medicine through stem cell technology is essential for the treatment of diseases. Alzheimer's, cancer, diabetes, and rare genetic disorders are cured using regenerative medication. Umbilical cord cells and other stem cells are preserved to benefit from existing therapies. Stem cell practices are rising globally and influencing the expansion of new solutions for the various diseases.
Market Dynamics:
The growing prevalence of chronic diseases is primarily driving growth to the global biobanks market. By 2020, this prevalence is to increase by 57%. Out of this, 60% of the burden will occur in the emerging nations, stated by WHO. Further, factors such as developments in regenerative medicine and the efforts to control ever-increasing medical costs lead to an unprecedented interest in biomarkers.
Additionally, increasing investments for research and development of advanced therapies such as personalized medicines and regenerative medicine, a rising number of biobanks, and the increasing number of biobanks globally are expected to drive the biobanks market growth. The biobanking market collects and preserves the biological samples, which helps advance biomedical and transitional research to influence market growth.
An increasing trend of cord blood banking, the increase in the prevalence of chronic diseases, and growing regenerative medicines create the demand for the biobanks market. Over the past few years, the market has experienced a market share due to the several advances made in the platforms and the tools used in genetic studies. Moreover, government regenerative therapies and increasing investments by the government and private organizations to improve healthcare organizations further influence the global biobanks market growth.
However, strict regulations on the biobanks in many countries are declining the market growth during the forecast period. For instance, in 2018, the new European Union (EU) General data protection had made privacy policies more consistent across the UK for personal data, including genetic and clinical data. The high cost of automation and issues related to the biospecimen sample procurement hinder market growth over the years.
The main challenges are storage issues, regulatory issues, and inexpensive procedures. As a result, biomarker-based research is being adopted throughout the R & D process, from early detection to clinical research and data protection and confidentiality issues.
The top opportunities in the global market have been recorded in the USA, and it is estimated that the biobanks market would gain USD 5,689 Million in annual sales between 2020 to 2025. Biobank organizations are adopting virtual accessibility, which fuels the growth rate of the market.
Impact of COVID-19 on biobanks market:
The outbreak of the pandemic has brought significant growth across the globe. The COVID-19 is an infectious disease, and it spreads quickly from person to person. To control the spread of the virus, the government has imposed a nationwide lockdown. The outbreak of the COVID-19 has shown significant growth in the biobanks market. The governments have established rapid covid-19 biobanks worldwide to collect the biospecimen. The ministry of health and welfare was assigned to establish COVID-19 Biobanks to collect a blood sample from the patients, helping in research and development activities.
Biobanks Market in the Asia Pacific:
The Asia Pacific market to record lucrative growth as biobanking awareness in the region grows with a CAGR of 6.8% during the forecast period. Population growth and increased clinical research are other factors that positively impact the development of the region's markets.
Expanding research activity also offers significant growth potential for the biotechnology sector in the region. This growth is due to no small amount of funding received from various governments and private organizations. The presence of regional players also contributes to the development of the market. As the total number of newly deposited organic species increases, the Asia Pacific region may record the fastest growth in the forecast period. Countries like Japan, China, South Korea, Thailand, India, Singapore, and Australia have biobank networks globally.
REPORT COVERAGE:
|
REPORT METRIC |
DETAILS |
|
Market Size Available |
2019 to 2025 |
|
Base Year |
2019 |
|
Forecast Period |
2020 to 2025 |
|
Segments Covered |
By Product Type, Sample Type, Application, and Region |
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Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
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Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
This research report on the global biobanks market has been segmented & sub-segmented based on product type, sample type, application, and region.
Biobanks Market - By Product Type:
The biobanking equipment segment was the leader among all in 2019 and occupied the lion's share based on the product type. An increase in the new biobanks among various geographies worldwide has majorly contributed to this segment to secure the top spot.
Biobanks Market - By Sample Type:
The individual tissue section accounts for the highest biobanks market share of approximately 65% during the forecast period based on the sample type. Preference for human tissue specimens increases over animal tissue samples due to the unavailability of appropriate animal models for specific neurological and psychiatric disorders.
Biobanks Market - By Application:
Based on the application, the regenerative medicine segment is accountable for the largest market share in 2019. Factors such as increasing research and development activities on regenerative medicines and increasing demand for well-characterized and quality biosamples for research are driving the growth of this segment.
Biobanks Market - By Region:
Geographically, the United States Biobanks Market has the largest market share, followed by the European market. The growth in the Asia Pacific region is increasing rapidly and driven by the rise in population and increasing healthcare spending from government bodies. Asia Pacific region to show fierce competition with the developed areas.
North America held the largest share of the global biobanks market. Due to an increase in healthcare investments, the processing of largescale databases and establishments is propelling the market growth in this region. The United States market is holding the highest share in this regional market with the increasing expenditure on healthcare. Rising disposable income in urban areas is likely to fuel the demand of the market.
The European biobanks market is expected to register the majority market share of biobanks after North America with influential growth factors such as increasing government investments in biobanks for collecting the biospecimen data and improving medical infrastructure.
The Asia Pacific biobanks market provides lucrative opportunities for the players in the biobank market. However, the market is expected to increase the market growth with the rapid increase in the geriatric population and rise in healthcare expenditure.
The Latin American market is forecasted to have lucrative opportunities in the near future and is expected to grow at a CAGR of 8.02% from 2020 to 2025.
The Middle East and Africa are expected to improve the market share during the forecast period. Increasing geriatric population, advancing technologies, and improving healthcare expenditure are anticipated to propel the market growth in this region.
KEY MARKET PLAYERS:
Some of the promising market participants dominating the global biobanks market are Beckman Coulter, Tecan Group, Taylor- Wharton, Panasonic Biomedical, Teva Pharmaceuticals, Biolife Solutions, Custom Biogenic Systems, Princeton Cryo-Tech, Fluidx, Tissue Solutions, Wildcat Laboratory Solutions, Micronik, and Brooks Life Science Systems.
Beckman Coulter, Thermo Fisher, Panasonic, Sigma-Aldrich, and SOL Group are industry leaders. They hold key technology and patents for high-end customers, with a market share of 32.28% formed by an industry monopoly.
Tecan Group Ltd. Tecan's Fluent Laboratory Automation workstation improves the performance of the QFT-Plus diagnostic test by dispensing a sample of the optional lithium heparin single-tube workflow. Fluent instruments are delivered directly to the lab through Tecan's Life Sciences business.
Becton, Dickinson, and Company launched an automated instrument for sample preparation using flow cytometry with a CE-IVD certified BD FACSDuet in March 2019. This instrument helps to understand and count the characteristics of cells.
1. Introduction
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3. Overview
3.1 Executive Summary
3.2 Key Inferences
3.3 New Developments
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 By Product Type
5.1.1 Equipment’s
5.1.1.1 Temperature control systems
5.1.1.2 Incubators
5.1.1.3 Centrifuges
5.1.1.4 Alarm and Monitoring Systems
5.1.1.5 Accessories
5.1.1.6 Other Equipment's
5.1.2 Consumables
5.2 By Sample Type
5.2.1 Human Tissues
5.2.2 Stem Cells
5.2.3 DNA or RNA
5.2.4 Bio-fluids
5.2.5 Other Sample Type
5.3 By Application
5.3.1 Therapeutic Applications
5.3.2 Research Applications
5.3.3 Clinical Trials
6. Geographical Analysis
6.1 North America
6.1.1 Introduction
6.1.2 United States
6.1.3 Canada
6.2 Europe
6.2.1 Introduction
6.2.2 U.K
6.2.3 Spain
6.2.4 Germany
6.2.5 Italy
6.2.6 France
6.3 Asia-Pacific
6.3.1 Introduction
6.3.2 China
6.3.3 India
6.3.4 Japan
6.3.5 South Korea
6.3.6 Australia
6.4 Latin America
6.4.1 Introduction
6.4.2 Brazil
6.4.3 Mexico
6.4.4 Argentina
6.4.5 Rest of Latin America
6.5 Middle East & Africa
6.5.1 Introduction
6.5.2 Middle-East
6.5.3 Africa
7. Strategic Analysis
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1 Beckman Coulter
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Strategic Evaluation and Operations
8.1.4 Financial analysis
8.1.5 Legal issues
8.1.6 Recent Developments
8.1.7 SWOT analysis
8.1.8 Analyst View
8.2 Tecan group
8.3 Taylor- Wharton
8.4 Panasonic biomedical
8.5 Teva pharmaceuticals
8.6 Biolife solutions
8.7 Custom biogenic systems
8.8 Princeton cryotech
8.9 Fluidx
8.10 Tissue solutions
8.11 Wildcat laboratory solutions
8.12 Micronik
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Expert Opinions
10.1 Market Outlook
10.2 Investment Opportunities
Appendix
a) List of Tables
b) List of Figures
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