(PharmaNewsWire.Com, July 11, 2017 ) Biobank is basically a type of biorepository which stores the biological samples (mainly human samples) used for research purposes or even for treatment. In the coming years Asia pacific region is predicted to stand as tough contender with the developed regions reason being rapid growth in population. Increase in chronic diseases, which can be treated or else studied with the help of resources in the biobank, is a major driver for Asia pacific market. Government policies and funding for modernizing healthcare industry will provide a strong boost to the APAC biobank market.
There is an inclination in the Asia Pacific market for Bio preservation systems due to increase in demand for tissue banking, stem cell banking and umbilical cord banking. Dependence of researchers from all scientific realms on biobanks increased tremendously for providing samples. For the industrial development of diagnostics and therapeutics as well as for medical research biological material and related data have become an important resource.
Poor productivity rate of the pharmaceutical industry with respect to the new drug approvals is driving the Asia Pacific market. The vision of personalized medicine is also endorsed for the growth of this market. The major drawbacks involve storage and handling problem, regulatory issues and cost competitive procedures.
This Asia Pacific bio bank market is segmented majorly on the basis of sample type and product type. Sample type includes human tissues, stem cells, DNA or RNA, Bio-fluids and Others whereas product type is subdivided into types of equipment’s (Temperature control systems, Incubators, Centrifuges, Alarm and Monitoring Systems, Accessories and Other Equipment) and consumables. Based on Application they are divided into Therapeutic Applications, Research Applications and Clinical Trials. The human tissues section is expected to account for the highest market share of approximately 65% during the forecast period. Preference for human tissue specimens is increasing over animal tissue samples due to unavailability of appropriate animal models for some specific neurological and psychiatric disorders.
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