Bio Banks Market 2022 - Global Industry Forecast in New Research Report

Global Bio Banks Market is expected to grow at a significant CAGR in the estimated period. A bio-repository which preserves biological specimen for research is known as a biobank. Bio-samples form a significant part in research and development events linked with development and drug discovery. Biobanks provide certain assistance in obtaining solutions to diseases including nucleotide polymorphisms, through genome association studies. Increase in occurrence of various chronic diseases across the globe including cancer, neurovascular, cardiovascular, respiratory and diabetes disease. These diseases are caused by various activities such as smoking, alcohol consumption, unhealthy diets, lack of physical activity and genetic disorders. These factors are expected to increase the demand for biobanks in need for advanced and innovative medical drugs with high performance and high healing effect.



Government funding particularly in healthcare sector can be attributed as the key factor for the Bio Banks Market growth in emerging economies. High investment in research and development is necessary to develop new drugs and offer better healthcare to the patients and for Public awareness.  However, the Bio Banks Market has been face challenges from various factors including lack of quality and standardized bio specimens Failure rate of clinical trials also act as a major factor restraining the growth of market. High cost incurred in such failures is expected to decrease the demand for biobanks.

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However, researchers and scientists are continuously innovating and developing stem cell human tissue samples to carry out pre-clinical trials. These initiatives are expected to provide growth opportunities for the market over the forecast period. Growing demand for stem cell and tissue samples is expected to propel the market growth for the biobanks market. In addition, increasing adoption of stem cell procedures coupled with application of initiatives for standardization of bio banking procedures is anticipated to boost the Bio Banks Market growth  On the basis of product type, the global market has been segmented into bio preservation media and equipment. The bio preservation equipment is further classified into Temperature Control Systems, Centrifuges, Incubators, Alarms & Monitoring Systems, and Accessories. Temperature control systems is expected to have the largest share in the global market Controlling and monitoring temperature for preserved bio specimens is considered to be very critical. It is crucial for sample viability and quality. Minor temperature variations during transit of these samples from one region to another can affect the entire research.

Accessories segment is expected to witness significant growth rate over the forecast period owing to increasing need for use of devices including data logger, transmitter, splitter, and RTD. These products help in control and maintain the bio bank temperature and sensors. On the basis of bio specimen, the Bio Banks Market has been segmented into Stem Cells, Human Tissue Samples, and Organ. Human tissue and stem cells are expected to grow at a significant growth rate owing to the increasing demand and storage of human tissues for research and transplantation. Establishment of many bio banks across the globe is expected to grow tissue banks. On the basis of application type, the bio bank market has been segmented into Therapeutic, Research Applications, and Clinical Trials. Therapeutic is expected to have the largest market share. Therapeutic is the branch of medicine concerned with the treatment of disease and the action of remedial agents. With the introduction of advanced personalized medicine and bio therapeutics, biorepositories have transformed from basic storage facilities to efficient biobanks

On the basis of end use segment, the global market has been segmented into biobanks, gene banks, and hospitals. Gene and biobanks are expected to have the largest market share owing to use of these specimen and preserved samples for research and development in hospitals they are widely used for Disease Phenotyping. The global Bio Banks Market can be segmented into different sectors including population banking, commercial biobanks, stem cell banking, academic collections, private cord banking, along with other facilities such as RNA and DNA storage. The future of the Bio Banks Market will be fueled majorly by factors such as the  Automation of storage procedures through micro electromechanical systems and RFID technologies coupled with launch of new products such as IntegenX and Biomatrica is expected to steer the market demand in the next seven years. These reagents are widely used to better storage abilities of RNAs and DNAs at standard room temperature through stabilizing the reagents.

North America is expected to be the key regional market followed by Europe. Increasing number of research initiatives and also presence of key biobank facilities in this region is expected to boost the overall market over the forecast period. Huge demand for bio banks grom regions including U.K, Germany, Italy and Netherlands is expected to propel the Bio Banks Market in Europe.  Key players in the Bio Banks Market are Bristol-Myers Squibb, Abbott Laboratories, Roche Ltd., Johnson and Johnson, Affymetrix and Teva Pharmaceuticals. Other participants include Tecan AG, New Brunswick Scientific Co, TAP Biosystems, and BioKryo GmbH

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