Biobank Market - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2018-2026

  • To Be Published : Aug 2019 |
  • Format : CMI Insight PPT Format CMI Insight PDF Format

Biobank is a type of repository which collects and store biological samples for biomedical research. The human biological materials include blood, purified DNA, saliva, serum, and other specimens. Preservation of cells and tissues samples is done by cryopreservation at -1960C or using chemicals. The biobanks keep a health related records of genetic information, lifestyle, and family history. Biobank help researchers to detect human diseases and their unspecified causes by conducting various tests on the samples. Biobanks are largely used to access variety of data representing a large number of people for providing personalized medications, minimizing drug reactions, stem cell research, updating age demographic databases. The bio-repositories play a fundamental role in research and development, which is associated with drug development and discovery. Biobanks also provide inevitable assistance in gaining prospective to orphan diseases associated with genome wide studies via single nucleotide polymorphism (SNP).

Development of personalized medicine to develop effective therapies drives the global biobank market

Poor productivity rate of the pharmaceutical industry with 90% failure of proposed drugs during clinical trials, the adherence of human tissue samples, and stem cells to execute pre-clinical trials for reducing high cost associated drug failures are the factors expected to drive the growth of biobank market. Additionally, novelty in cell and tissue disorder treatments, drug discovery, rising incidence of chronic diseases and government initiatives for innovation of regenerative medicines are the key factors driving the global biobank market. The extensive development of personalized treatments by research organizations to develop effective therapies to satisfy medical needs using biological samples is expected to fuel the demand for biobank market during the forecast period. For instance, Illumina signed 4 biobank deals in 2016, with Partners HealthCare, Montreal Heart Institute, University of Colorado and Vanderbilt University with an objective to improve healthcare and develop personalized medicines. However, cost competitive techniques, tissue injury during freezing, reimbursement concerns, lack of standardization, confidentiality and surveillance issues, economic downturn, and ethical issues are the major factors restraining the growth for global biobank market. 

Establishment of drug efficacy contributes to the dominance of target tissue segment

The global biobank market is segmented on the basis of bio preservation media types, products, analysis, applications, end user and geography.

On the basis of bio preservation media types, the global biobank market is segmented into:

  • Optimized Pre-Formulated Media
  • Non-Optimized Isotonic Formulation Media

On the basis of products, the global biobank market is segmented into:

  • Consumables
  • Equipment
  • Refrigerators and Ice Machines 
  • Liquid Nitrogen Supply Tanks
  • Cryogenic Storage Systems

On the basis of analysis, the global biobank market is segmented into:

  • Human tissue and tumor cells
  • Bio-fluids
  • Stem cells
  • Umbilical cord

On the basis of application, the global biobank market is segmented into:

  • Biobanking
  • Regenerative Medicine
  • Drug Discovery

On the basis of end-user, the global biobank market is segmented into:

  • Diagnostic Clinical Centers
  • Research Organizations
  • Others

Increasing funds from National Institute of Health, USA is expected to dominate North America in the global biobank market

Regional segmentation of the global biobank market by Coherent Market Insights comprises North America, Latin America, Europe, and Asia-Pacific. According to the research conducted by BioMed Central, United States, stored 270 million specimens in biobanks in 2008, with the rate of new samples collected being 20 million every year. North America is expected to dominate the global biobank market with the increasing funds from healthcare organizations like National Institute of Health (NIH) and National Cancer Institute, which facilitate biobanks across the U.S. Additionally, the rising interest in biotechology has facilitated collaborations of biobanks which is expected to augment the global biobank market in the forecast period. Asia-Pacific is expected to have an opportunistic biobank market owing to the rise in diseases, government initiative to finance the cell-based therapies, substantial investment by pharmaceutical, high number of biotechnology companies, and public awareness.

Automation of storage processes is the latest trend adopted by the key players

Key players operating the global biobank market includes Thermo Fisher Scientific Inc., BioLife Solutions, Inc., Beckman Coulter, Inc., Panasonic Biomedical Sales and Tecan AG. New product launches, increasing collaborations, mergers and acquisitions and partnerships among the market players are some of the strategies observed in global biobanks market. Biomatrica, IntegenX, radiofrequency identification, and micro electromechanical systems are the innovative reagents and products launched for the storage and stabilization of DNA and RNA at room temperature. The other companies operating in the global biobank market are BioCision, Taylor-Wharton International, VWR International and So-Low Environmental Equipment Co. among others.

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.

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Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.
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Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization:

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users

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