The global biobanks market was valued at USD 200.65 million in 2016 and is projected to reach USD 270.54 million by 2018, at a CAGR of 6.16% during the forecast period from 2014 to 2021.
Global Biobanks Market- Market Dynamics
The report details several driving and restraining factors for the global biobanks market. Some of them are listed below.
The vision of personalized medicine Poor productivity rate of the pharmaceutical industry with respect to the new drug approvals Need to contain the ever-increasing healthcare costs Research and development processes from early discovery through clinical trials Advances in regenerative medicine, drug discovery and biobanking techniques Restraints
Privacy, confidentiality and surveillance issues Access policies and procedures Regulation-based issues with biobanking procedures Fear of privatization Lack of proper governance Storage problems Cost competitive procedures The report segments the market on the basis of type, equipment, application and geography.
On the basis of type, the market has been segmented into optimized pre-formulated media and non-optimized isotonic formulated media On the basis of equipment, the market is segmented into refrigerators, ice machines, freezers, cryogenic storage systems, alarm monitoring systems, and LN2 supply tanks On the basis of application, the market is segmented into drug discovery, biobanking procedures, and regenerative medicine On the basis of geography, the market is segmented into North America (U.S.A., Canada, and Mexico), Europe (U.K., Germany, France, and Spain), Asia-Pacific (India, China, Japan, and South Korea), and the Rest of the World. From the geographical point of view, the US has the largest market share, followed by the European market. Recent developments in this market have also contributed to the growth of the emerging markets. They are expected to show stiff competition to the developed economies.
However, the rapid growth in the population of the Asia-Pacific countries is expected to affect the market of the developed countries. Europe is the largest biorepositories market due to the huge demand from the Netherlands, Italy, Germany, the U.K., and among other countries.
Some of the key players in the market are:
Core Dynamics Ltd. Atlanta Biologicals Biolife Solutions Bioniche Pharma USA LLC Cell & Tissue Systems LLC Essential Pharmaceuticals Key Deliverables in the Study
Market analysis for the biobanks market, with region-specific assessments and competition analysis on the global and regional scale. Market definition along with the identification of key drivers and restraints. Identification of factors instrumental in changing the market scenario, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale. Extensively researched competitive landscape section with profiles of major companies along with their market share. Identification and analysis of the macro and micro factors that affect the biobanks market on both global and regional scale. A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information. A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market. Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped.