The biobanks market is experiencing a rapid growth in the developed regions. Both Europe and North America hold the majority of the market shares.
Sarasota, FL -- (SBWIRE) -- 05/30/2018 -- Global Biobanks Market: Overview
Biobanks can be referred as a storage place that stores, distributes, and collects the biological materials of the human beings that comprise of plasma, purified DNA, blood, saliva, and other biospecimens. Biobanks help in keeping the records of the person's personal and health information. This can be anything from genetic information to the lifestyle of the person. The appropriate environment is maintained in the biobanks for storing the biological materials. These specimens and information are used for detecting the diseases and their causes.
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Global Biobanks Market: Growth Factors
The major factors driving the biobanks market are the increasing prevalence of the chronic diseases, favorable government initiatives, developments in the drug discovery, improvements in the regenerative medicines, the rise in the healthcare spending, and the introduction to the treatment of the tissue and cell disorders. The growing popularity of the biobank facilities is also positively contributing to the growth of the market.
On the contrary, factors that are negatively affecting the growth of the biobanks market are the high capital requirement, lack of standards, concerns related to reimbursement, and the financial downturn. Tissue injury and the stability issue during freezing also act as a challenge for the biobanks market.
The development of the techniques and the technological advancements in this field are expected to open a wide range of opportunities for the global biobanks market. Developments of green banking to save energy and virtual biobanks are some of the key trends in the biobanks market.
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Global Biobanks Market: Segmentation
The global biobanks market is segregated on the basis of product and service, sample type, and by the application. In terms of the product and services, the market is categorized into consumables, software, equipment, and services. Based on the sample type, the biobanks market is categorized into human tissues, cell lines, human waste products, blood products, nucleic acids, and biological fluids. On the basis of application, the market is fragmented into clinical research, life science research, and regenerative medicine.
Global Biobanks Market: Regional Analysis
The biobanks market is experiencing a rapid growth in the developed regions. Both Europe and North America hold the majority of the market shares. The factors that are driving the growth of the market are favorable government initiatives, increase in the occurrences of chronic illness, and the growing activities in the research and development of new drugs. Another major factor that contributes positively to the market growth is the presence of the advanced biobank facilities in these regions.
In the coming years, the biobanks market will develop speedily in the Asia Pacific region. The factors favoring the growth of the market are the increased spending from the non-government as well as by government organizations, growing population rate, and the rise in the awareness about the biobank facilities.
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Global Biobanks Market: Competitive Players
Some of the most important market players in the biobanks market include Bristol-Myers Squibb Co., Roche Ltd., Affymetrix Inc., Abbott Laboratories Inc., Johnson and Johnson Ltd., and Teva Pharmaceuticals, among others.
Global Biobanks Market: Regional Segment Analysis
The Asia Pacific
The Middle East and Africa
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