Human Biobanking Ownership Market : Future Demand And Growth Analysis With Forecast 2024
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The genetic and other biological data repository maintained by biobanks help researchers to understand the human trait associated diseases and disorders, and also the impact of environment and genetic variations on cell lines and human health. These biobanks provide extensive data based on these factors and on the basis of other demographical traits, which is expected to grow the human biobanking ownership market. The biobanks offer database of cross border population which makes its users time saving and effective resource, which is expected to increase uptake for biobanking services across the globe. However, high cost associated with human biobanks, as the genome sequencing is costly and tedious process, the human biobanking ownership market is expected to restrain the growth across the globe. Also stringent laws and regulations in biobanking and concern over the security and privacy of human biobanks across globe is another factor expected to bolster the growth for human biobanking ownership market. In the near future, the global human biobanking ownership market is expected to be governed by laws to protect the privacy of gene donors and establish their rights. For example, in Estonia, the Human Genes Research Act passed in 1999 provides donors full authority over who can access their data and establishes anonymity in clinical research. Such laws will help in the growth of the global human biobanking ownership market.
Based on the operator of the biobank, the human biobanks can be segmented in to academic & research Institutes, pharmaceutical and biotech industry, hospitals, and stand-alone biobanks. These biobanks serve various purposes such as diagnostics, forensic, organ transplantation, research, and others. By the ownership type the biobanks can be privately funded and operated, publically funded and operated, and public-private partnership funded and operated. Some of the Government agencies promote biobanks, so as to create database of population to support in strengthening the healthcare infrastructure.
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Geographically, global human biobanking ownership market is segmented in four major regions such as North America, Europe, Asia Pacific and Rest of the World. Asia Pacific has been driving the global market growth owing to the rapid growth of the private biobanks and clinical research organizations in the region. Demand witnessed in North America and Europe is also significantly aiding the growth of the market. In Europe, countries such as Estonia are focusing on collecting the DNA of every citizen in order to enrich their national biobank. In Estonia, the national biobank program started in 2000 by collecting DNA samples from a quarter of the country’s population. While these DNA samples are mostly used for clinical research, the government is planning to use this data to build a robust health care infrastructure by offering personalized care. The Government of Estonia has already started developing a system to make this genetic data available to citizens and doctors.
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