The European biobanks market was valued at USD 65.08 million in 2016. It is expected to become a USD 87.88 million market by 2021. During this period, the market is expected to show a CAGR of 6.19%.
Europe Biobanks Market- Market Dynamics
The market in Europe is facilitated by a great number of collaborations and agreements between member organizations to facilitate good research in the field of biobanking.
Some of the factors leading to the growth of the biobanks market in Europe are:
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
While there is ample scope for growth in Europe’s biobanks market, there are several factors restraining it. Some of these are:
Privacy ,confidentiality and surveillance issues
Access policies and procedures
Regulation-based issues with biobanking procedures
Fear of privatization
Lack of proper governance
Cost competitive procedures
The challenge for the future of biobanking within Europe is to develop meta level governance that supports a pan-European biobanking infrastructure. Currently, the regulatory systems are not favorable and this does not facilitate cutting edge research across borders in the most efficient and economical manner.
From the geographical point of view, European initiatives are leading the way in what's called harmonization, or making sure that all biobanks follow evidence-based standards for collecting, storing, and handling of specimens. From a market perspective, the UK is the major market in this segment with a share as high as 23%. Following the UK is Germany with the next biggest share.
The biobanks market was segmented on the basis of the type of mechanism, equipment used, application in different sectors and geography.
Some of the key players in the market are:
WAK-Chemie Medical GmbH
deCODE Genetics, Inc.
Cell & Co Biorepository
What the Report Offers
Market Definition for European Biobanks market along with identification of key drivers and restraints for the market.
Market analysis for the European Biobanks market, with region-specific assessments and competition analysis on a European and regional scale.
Identification of factors instrumental in changing the market scenario, rising prospective opportunities and identification of key companies that can influence the market on a European and regional scale.
Extensively researched competitive landscape section with profiles of major companies along with their share of markets.
A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information.
An exhaustive understanding of the worldwide market for European Biobanks.
A comprehensive analysis of the major trends, innovations and associated prospects for market growth over the coming half a decade
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
Wide-ranging information provided about the leading market players and the major strategies adopted by them.
1.1 Report Description
1.2 Research Methodology
2. EXECUTIVE SUMMARY
2.1 Key Findings
2.2 Market Overview
3. MARKET OVERVIEW
3.1 Market Definition
3.2 Market Drivers
3.2.1 Investment by Government & Non-Governmental Organizations
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