Biobanking Market Overview and Regional Outlook Study

Biobanking Market Introduction

The term 'biobanking' is often misused to refer to any collection of human biological specimens (biospecimens), regardless of the standards established for various tissue collection procedures or requirements pertaining to ethical and legal considerations. The process of collecting bodily fluids or tissue samples for usage in research to better understand health and disease is referred to as biobanking. Biobank is a sizable collection of biospecimens that are kept primarily for usage in health and medical research, and are linked to pertinent personal and health data (such as electronic medical record, family history, lifestyle, and genetic information).

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The National Centre for Advanced Research and Excellence in Heart Failure (CARE-HF) at SCTIMST was established by ICMR to expand research in the field, as heart failure emerged as a significant health issue in India. One of the project's key components is the Heart Failure Biobank, which received funding of US$ 85,000 to build cutting-edge storage facilities.

In terms of usage and design (focused on populations or diseases), biobanks are diverse (epidemiology, translational, pharmaceutical research). Biobanks include information and samples from large-scale epidemiologic collections, family studies, patients with a particular disease, clinical trials of novel treatments, or patients with the disease in question. Data and samples are invariably gathered according to various guidelines, standards, and objectives.

According to the biobanking market analysis, little standardization has taken place across biobanks due to the challenges of data collection and sample storage within studies. The field of biome biobank research is rapidly evolving; however, the necessary biobanking infrastructure is currently fragmented and unprepared for microbiome biobanking. A number of international initiatives and protocols have recently been developed to address this issue. The goal of procedure standardization and harmonization is to facilitate data sharing among various resources, increasing effective sample size and statistical power, particularly for rare diseases.

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Public Participation in Biobanking to Drive Global Biobanking Market

Diversity of public participation in biobanking is a highlight of biobank success. Increase in number of biobanks across the world reflects their potential to improve the reproducibility and meaning of data generated by biomedical research. The fact that biospecimens are collected using strict and standardized methodologies ensures reproducibility, while meaningfulness is achieved by linking relevant information to biospecimens themselves as well as their donors. Biobanks' success is dependent on the participation of diverse groups of people.

Increase in funding for biobanking from private and government organizations and expansion of application areas of bio-banked samples are the major factors driving the global biobanking market size. Availability of government funding for regenerative medicine, stem cell therapeutics, and cell & gene therapy is encouraging research in this area. Furthermore, growth in trend of cord blood banking is expected to contribute to the growth of the market.

Future prospects, such as advancements in orthopedic procedures using stem cells, are expected to fuel the regenerative medicine market. Genomic research is a key driver of the global market. Government support for regenerative medicine research through various initiatives is also likely to increase biobanking market share.

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Surge in Demand for Personalized Medicine Fueling Equipment Segment

Based on product, the equipment segment accounted for the largest share of the global biobanking market in 2021. Biobanking equipment is used in biorepositories to store biological samples for research purposes. Researchers use biobanking equipment to conduct tests or analyze specimens stored in a biobank. Along with equipment and consumables, software and services play an important role in assisting researchers in their studies of various diseases.
Surge in demand for personalized medicine, owing to high unmet medical requirements for developing effective therapies, is a key factor propelling the equipment segment. Increase in pharmaceutical R&D budgets by governments and private players is expected to support research activities. This is likely to augment the equipment segment.

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Usage in DNA and RNA Analyses Propelling Blood Products Segment

In terms of biospecimen type, the blood products segment held significant market share in 2021. Blood is one of the most frequently used biospecimens in research. Depending on the downstream application and blood fraction required, it is collected in tubes containing preservatives and additives (serum, plasma, white blood cells, red cells). Serum samples are typically collected in tubes containing a clot accelerator such as thrombin or silica, while plasma samples can be collected in tubes containing various anticoagulant additives. Majority of biochemical analyses are performed on serum, while DNA and RNA analyses are performed on anticoagulated blood. These practices have the potential to introduce heterogeneity into basic data. Citrate-stabilized blood, for example, yields higher DNA and RNA quality and more lymphocytes for culture than other anti-coagulants, while EDTA-coated collection tubes would be preferred for protein assays and most DNA-molecule analyses.

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Growth in Trend of Precision Medicine Augmenting Therapeutics Segment

Based on application, the therapeutics segment is projected to account for major share of the global biobanking market during the forecast period. Clinical trials and research-based innovative activities such as personalized medicine aim to broaden the applications of biospecimens in research. Demand for precision medicines is high, as these promise breakthrough treatments in the most complex disease areas. Biobanks stand to benefit significantly from the growth in trend of precision medicines due to the sample data they possess, which is critical to precision medicine applications in therapy areas such as oncology, psychiatry, infectious diseases, and cardiology.

Institutes are conducting studies on the usage of cord blood in various areas of science that could benefit human health. The Lund University in Sweden launched the world's largest biobank in 2020 to better understand and conduct research in the most common diseases such as Alzheimer's, Parkinson's, cardiovascular disease, and diabetes. Hence, surge in research activities has been observed in cord blood applications in the past few years. This is expected to increase the demand for cord blood, which in turn, is likely to augment the therapeutics segment.

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