Biobank Market Major Players Thermo Fisher Scientific
Inc., BioLife Solutions, Inc., Beckman Coulter, Inc.,
Panasonic Biomedical Sales and Tecan AG.
Biobank is a type of repository which collects and store biological samples for biomedical
research. The human biological materials include blood, purified DNA, saliva, serum, and other
specimens. Preservation of cells and tissues samples is done by cryopreservation at -196 0 C or
using chemicals. The biobanks keep a health related records of genetic information, lifestyle,
and family history. Biobank help researchers to detect human diseases and their unspecified
causes by conducting various tests on the samples. Biobanks are largely used to access variety
of data representing a large number of people for providing personalized medications,
minimizing drug reactions, stem cell research, updating age demographic databases. The bio-
repositories play a fundamental role in research and development, which is associated with drug
development and discovery. Biobanks also provide inevitable assistance in gaining prospective to
orphan diseases associated with genome wide studies via single nucleotide polymorphism (SNP).
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Development of personalized medicine to develop effective therapies drives the global biobank
market
Poor productivity rate of the pharmaceutical industry with 90% failure of proposed drugs during
clinical trials, the adherence of human tissue samples, and stem cells to execute pre-clinical
trials for reducing high cost associated drug failures are the factors expected to drive the
growth of biobank market. Additionally, novelty in cell and tissue disorder treatments, drug
discovery, rising incidence of chronic diseases and government initiatives for innovation of
regenerative medicines are the key factors driving the global biobank market. The extensive
development of personalized treatments by research organizations to develop effective therapies
to satisfy medical needs using biological samples is expected to fuel the demand for biobank
market during the forecast period. For instance, Illumina signed 4 biobank deals in 2016, with
Partners HealthCare, Montreal Heart Institute, University of Colorado and Vanderbilt University
with an objective to improve healthcare and develop personalized medicines. However, cost
competitive techniques, tissue injury during freezing, reimbursement concerns, lack of