Biobanks Market - Growth, Trends , COVID-19 Impact , and Forecasts (2021 - 2026)

Market Overview

The Biobanks Market is expected to register a CAGR of nearly 9.2% during the forecast period.

The COVID-19 pandemic highlights the risks associated with the collection and processing of human biospecimens with an unknown status for the coronavirus SARS-CoV-2, whether for diagnostic, therapeutic or research purposes. For instance, according to the research article by Sameera Ezzat et al., published in Biopreservation and Biobanking Journal December 2020, in order to tackle COVID-19, research infrastructures, and in particular biobanks, have found themselves on the front line. For instance, efforts have been reported in the European Union (EU) and in Taiwan to create population-level collections of COVID-19 patients, asymptomatic carriers and members of the public. In low resource settings, where such infrastructures were available and supported long term, an effort to assemble clinically relevant cohorts is also ongoing, and in many cases associated with a governance framework that is increasingly amenable to the sharing of samples and data.

However, there are associated risks with the collection and processing of large volumes of human biospecimens during the COVID-19 pandemic. For instance, a proportion of the biosamples from patients with cancer, which continue to be collected and stored in biobanks during the COVID-19 pandemic, which is likely to be infected with SARS-CoV-2.

The major factors for the growth of the global biobanks market include the innovations in regenerative medicine, the growing incidence of chronic diseases, advances in drug discovery and development, and R&D funding and investments by government and non-governmental organizations.

Regenerative medicine through stem cell technology is one of the important treatments for diseases, such as Alzheimer's, diabetes, cancers, and rare genetic diseases. In order to benefit from the existing therapies, umbilical cord cells and other stem cells are preserved. For instance, in March 2019, the United Kingdom (UK) Biobank generated exome sequence data from 50,000 people with an objective to advance disease management including prevention, diagnosis, and treatment. That project aims to collect data of about 500,000 people and follow their health. In addition, in April 2020, Biogen, Inc., in collaboration with Partners HealthCare and Broad Institute of MIT, announced the association for building a COVID-19 biobank. 

Stem cell practices are on the rise, globally, and are contributing to the development of new solutions for various diseases. Boston-based biotech start-up, Orig3n, is looking to build the largest and most diverse biobank, harnessing the power of induced pluripotent stem cell technology to accelerate regenerative medicine. For instance, in Japan, Sakakibara Heart Institute in collaboration with CellBank of Japan is conducting a phase I clinical trial to assess the safety and effectiveness of intracoronary infusion of autologous cardiac stem cells in patients with ischemic cardiomyopathy. The trial started in November 2017 and expected to complete in March 2022. These successes are driving both the government and the private sector organizations into investing in more stem cell banks.

With the increase in awareness about stem cell therapies, there have been larger number of parents who are choosing umbilical cord banks for their children. There are a number of donor banks that are coming up as well. Biobanks not only aid in the therapies for genetic diseases, but also in medical research on rare genetic disorders. Increasing awareness about stem cell therapies and innovation in the field of regenerative medicine are driving the growth of the global biobank market. However, factors such as regulatory issues and cost constraints are expected to impede the market growth.

Scope of the Report

As per the scope of the report, biobank is a biorepository, where various biomaterials (usually human specimens) are stored for research purpose. This study targets gaining a detailed overview of the market dynamics of the contemporary biobank market during the forecast period. It focuses on the need to develop strategic insights into the global and country-level markets, taking into consideration the demand for services and equipment in biobanks. 

The Biobanks Market is segmented by Equipment (Cryogenic Storage Systems (Refrigerators, Ice Machines, Freezers), Alarm Monitoring Systems, Other Equipment), Media (Optimized Media, Non-optimized Media), Services (Human Tissue Biobanking, Stem Cell Biobanking, Cord Banking, DNA/RNA Biobanking, Other Services), Application (Regenerative Medicine, Drug Discovery, Disease Research) and Geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The report offers the value (in USD million) for the above segments. 

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Key Market Trends

Stem Cell Biobanking Services is Expected to Hold Significant Market Share During the Forecast Period

Stem cell biobanking is the cryogenic storage of stem cells or biological samples containing stem cells, for later use. Some of the factors that are driving segment growth include development of novel technologies for stem cell preservation, processing and storage, growing awareness on the therapeutic potential of stem cells and increasing investments in stem cell-based research.

Globally, continuous rise of COVID-19 cases, biobanks carry on to handle their roles in the collection of the patient sample, it's processing, and analysis, which are crucial factors in controlling new infectious diseases. Stem cells have always been a focus for regenerative medicine and cellular therapies. Mesenchymal stem cells (MSCs) in particular have low immunogenicity, appreciable differentiation capability, and outstanding immunomodulatory properties. Adding to that, stem cells have been suggested as a therapy for lung-related diseases. In particular, mesenchymal stem cells have been successfully tested in some clinical trials in patients with COVID-19. Moreover, with the encouraging results positioned mesenchymal stem cells as a possible cell therapy for COVID-19.

For instance, according to a research study by Rodrigo N. Riedel et al., published in Stem Cell Research & Therapy Journal March 2021, stem cells represent the great hope for regenerative medicine. In particular, due to their set of immunoregulatory, reparative, and regenerative properties, stem cells derived from the amnion of the human placenta should be considered for the treatment of pulmonary affections caused by COVID-19 as well as for a wide range of diseases.

The market players are adopting various strategies such as acquisitions, collaborations, partnerships and expansions to increase market share. For instance, in May 2018, California Cryobank Stem Cell Services LLC announced the acquisition of Cord Blood America Inc., FamilyCord would maintain the longstanding cryogenic storage of the stem cell units in the state-of-the-art biorepository, which is expected to boost the market growth. Hence, owing to above mentioned factors it is expected to drive the segment growth over the forecast period.

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