The biobanks market is valued as a USD 200.65 million market in 2016. It is expected to become a USD 270.54 million market by 2021. During this period the market is expected to show a CAGR of 6.16%.
The major drivers for the growth of this market are rise in the number of chronic diseases, advances in regenerative medicine, drug discovery and development. The drive to contain ever increasing healthcare costs is driving an unprecedented interest in biomarkers. The major limitations are storage problems, regulatory issues and cost competitive procedure. As a result, biomarker based studies are being adopted across research and development process from early discovery through clinical research and trials. Continuous growth in the biobank market globally can be attributed to the vision of personalized medicine.
Nevertheless, privacy and confidentiality issues are holding back the growth of the market. Access policies and procedures are also challenging the growth of this market. Top of this there are a lot of regulatory based issues with the biobanking procedure thats hindering the growth of this market. Privacy and surveillance issues, fears of privatization and lack of governance are are hindering the growth of the biobank market.
The biobank application market can be divided into different components which mainly include Drug Discovery, Biobanking procedures, Regenerative medicine. The other segmentation is done on the basis of geography where analysis is provided for each and every region and the countries located within the respective regions.
The U.S and Europe have the largest market size in biobanks. However, the rapid growth in population in Asia Pacific countries will affect the market of the developed countries. Europe is the largest biorepositories market due to the huge demand from Netherlands, Italy, Germany U.K and several other countries.
The major players in this market are Wak-Chemie Medical GMBH, Panasonic Biomedical, Qiagen, Teva Pharmaceuticals, Genzyme Corporation, Sigma Aldrich Coproration.
What the Report Offers
1) Market Definition for Global Biobanks market mark along with identification of key drivers and restraints for the market.
2) Market analysis for the Global Biobanks market market, with region specific assessments and competition analysis on a global and regional scale.
3) Identification of factors instrumental in changing the market scenarios, rising prospective opportunities and identification of key companies which can influence the market on a global and regional scale.
4) Extensively researched competitive landscape section with profiles of major companies along with their share of markets.
5) A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
Reasons for Buying this Report
1) For gaining an exhaustive understanding of the worldwide market for Global Biobanks market market. Would be of assistance in providing a comprehensive analysis of the major trends, innovations and associated prospects for market growth over the coming half a decade
2) An ideal opportunity for industry consultants, and other interested and allied parties to gain a critical insight into the factors driving and restraining the market, in addition to opportunities offered
3) Wide-ranging information provided about the leading market players and the major strategies adopted by them.