“Biobanking market set to grow to $4.2bn by 2024” says new Visiongain report
23 May 2019
Visiongain has launched a new pharma report Biobanking Market Forecasts 2019-2029 : Research, Therapeutic, Human Tissue, Stem Cells, Commercial Sector, Public Sector, Umbilical Cord Banking, Adult Stem Cell Banking, Consumables, Equipment, Services, Freezers & Refrigerators, Cryogenic Storage Systems, Incubators & Centrifuges, Thawing Equipment, Temperature Control Systems, Alarms & Monitoring Systems.
The demand for resources stored in biobanks is growing worldwide. The value of human biologic specimens for research is increasing. Biologic specimens housed in biobanks are being increasingly used in epidemiological investigations into various diseases. The overall biobanking market is estimated to grow at a CAGR of 6.6% in the first half of the forecast period. The use of biobanks for therapeutic applications is also increasing, such as in the stem cell banking sector. Efforts are being made to establish biobanking networks, harmonising biobanking practices and condensing that industry.
The lead analyst of the report commented "Biobanking infrastructure is improving at a global level with the establishment of large-scale national biobanks, population biobank projects, virtual biobanks and networking at national and international level. The result of this improving infrastructure is the condensing of the biobanking industry and expanding access to samples. This will drive growth during the forecast period.
For innovative research to drive the biobanking industry, the biobanking industry must recognise the importance of standardisation and harmonisation. Biobanks must also shift towards integrated systems for higher efficiency. Integrating hardware, software, consumables and automation can allow a biobank to function more smoothly and quickly."
Leading companies featured in the report include Asterand Bioscience (Stemgent), Biogenea Pharmaceuticals, Biopta (ReproCELL), BioServe, Caladrius Biosciences, China Cord Blood Corp, Cord Blood America, Danaher, LifebankUSA, Qiagen, StemLife, Thermo Fisher Scientific, Inc., Tissue Solutions, ViaCord and other companies.
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