Global Biobanking Market is Witnessing an Exponential Growth Owing to the Increasing Prevalence of Chronic Diseases

Biobank is referred as a repository or library that stores biological samples which are intended for research purpose. Biobanks play a pivotal role in biomedical research and stores wide array of biospecimens that include purified saliva, blood, plasma, DNA samples. Biobanks provide data that represent large number of individuals samples used by researchers for multiple purposes (disease identification, genetic trait identification and others).

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Biobanks help in identifying biomarkers of diseases related to single nucleotide polymorphism and others. The samples in biobanks are categorized on the basis of genetic trait such as age, gender, ethinicity and blood type. Furthermore, samples are also categorized on the basis of environmental factors such as climatic conditions where the donor has been exposed or some other condition that can affect human genes. Biobanks are of three type’s namely virtual biobanks, tissue banks and population banks which are classified on the basis of purpose or design.

The global biobanking market is witnessing an exponential growth owing to the increasing prevalence of chronic diseases. Furthermore, biobanks are also playing an important role in the development of new drugs which is further augmenting the market growth. 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 could pose a challenge to the growth of this industry.

Global biobank market is categorized on the basis of disease based biobank, population biobanks and private sector biobank. Further, market is segmented on the basis of application such as lung cancer, colorectal cancer, breast cancer, cardiovascular disease, immunology-autoimmune diseases and central nervous system disorders.

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Geographically North America and Europe dominates the biobank market owing to the presence of large players that are domiciled out of these nations. However, Asian region is expected to emerge in the future due to presence of large population base. The biobanking market is witnessing mergers and acquisitions among the manufacturers. Key players dominating the market are Beckman Coulter Inc., Thermo Fischer Scientific, New Brunswick Scientific Co. Inc., Tecan AG and others.

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