(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. Biobanks gave researchers access to data representing a large amount of people, before biobanks doctors use to collect the samples only for their own research purpose.
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. The market for Bio preservation systems is rising due to increase in demand for tissue banking, stem cell banking and umbilical cord banking.
The vision of personalized medicine is endorsed for the growth of this market. The key driver for the Middle East and African market is poor productivity rate of the 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. Storage and handling problem, regulatory issues and cost competitive procedures are the major drawbacks.
The 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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