Biobanking Market Poised to Achieve Significant Growth by 2023

Worldwide Market Reports added Latest Research Report titled “Biobanking Market Poised to Achieve Significant Growth by 2023" to its Large Report database.

Biobank is a repository or library that stores biological samples, which are intended for research purpose. A wide array of biospecimens, which include purified saliva, blood, plasma, and DNA samples can be stored in biobanks. Data which represent large number of individual’s samples that are used by researchers for purposes such as disease identification, genetic trait identification, and others are provided by biobanks. The samples stored in biobanks are categorized on the basis of genetic trait such as age, gender, ethnicity, and blood type. There are three types of biobanks, which includes virtual biobanks, tissue banks, and population banks and this classification is based on the basis of purpose or design.

Increasing prevalence of chronic diseases is the major factor driving growth of biobanking market. Furthermore, the importance of biobanks in the development of new drugs further fuel growth of biobanking market. Various facilities such as hospitals, research laboratories, academic centers, and commercial facilities collect biological specimens and biomaterials from biobanks.

However, lack of high quality samples is a factor that is expected to restrain growth of biobanking market.

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Key Developments in Biobanking Market

Key players are adopting various strategies such as mergers, acquisitions, new product launches, expansions, collaborations, partnerships, approvals, and joint ventures to retain its position in the biobanking market. On April 26, 2018, Thermo Scientific Orion Star T900 Series was designed by Thermo Fisher to automate QC/QA processes and boost efficiency. On April 20, 2018, QIAGEN announced the U.S. regulatory approval of PartoSure®, which is a novel test for assessing the risk of spontaneous preterm birth in patients with symptoms of preterm labor.

Furthermore, on March 21, 2018, DNA Genotek Inc., a leading provider of sample collection kits and end-to-end services announced that the Harvard T.H. Chan School of Public Health has selected DNA Genotek’s OMNIgene® family of microbiome collection devices to provide reliable self-collection of microbial samples for the Biobank for Microbiome Research in Massachusetts (BIOM-Mass).

ASKION expanded its market presence in the field of cryobiotechnology in China and officially announced the foundation of ASKION China Ltd at the "The China Holistic Integrate Biobankology Conference 2018/The 10th Anniversary of BBCMBA" on April 10, 2018. Also, the cryogenic storage systems ASKION C-line® HS200 M and L were introduced to the Chinese market on the same day.

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Some of the key players operating in the biobanking market include Beckman Coulter, Thermo Fisher, Sigma-Aldrich, SOL Group, Promega, BD, Brooks Life Science, QIAGEN, Tecan Group, Panasonic, Lifeline Scientific, So-Low, LVL Technologies, DNA Genotek, Micronic, Askion, Biolife Solutions, Cryo Bio System, and BioRep.

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