(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. Geographically North America leads the market with highest number of shares. Factors driving the market are increasing rate of diseased and aged population and the recent advancements in the field of molecular biology and genetics which requires large amount of specimens.
Biobanks play a vital role in the field of biomedical research. The wide range of bio specimens includes samples of blood, saliva, plasma, and purified DNA which can be described as libraries of the human organism.
North American researchers are depending more on biobanks for providing samples. For therapeutics and the industrial development of diagnostics as well as for medical research biological material and related data have become an important resource. Increase in demand of tissue banking, stem cell banking and umbilical cord banking are the reasons for inclination in the North American market for Bio preservation systems due to increase.
The key driver for the North America market is poor productivity rate of pharmaceutical industry with respect to the new drug approvals. These storage solutions can reduce the testing time and costs for manufacturers, as a testing laboratory can take up to 3 days for testing but if the hospital themselves have the storage bank the time can reduce to 3 hours. The major drawbacks involve storage and handling problem, regulatory issues and cost competitive procedures. Privacy and confidential issues are as well restraining the market.
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