Corporate Banner
Satellite Banner
Scientific Communities
Become a Member | Sign in
Home>News>This Article

Biobanking Market to Reach $24.4bn in 2017

Published: Monday, April 08, 2013
Last Updated: Monday, April 08, 2013
Bookmark and Share
Further growth expected to 2023, predicts visiongain in new report.

A new report by visiongain predicts the world market for biobanking in human medicine will generate $24.4bn in 2017. That market was worth $12.2bn in 2012 and will expand strongly from 2013 to 2023, according to Biobanking for Medicine: Technology and Market 2013-2023, published in March 2013. Visiongain is a business information provider based in London, UK.

Visiongain forecasts that, from 2013 to 2023, the overall world market for that medical sample preservation will more than double in revenues. In the biobanking industry and market, biorepositories, biotrusts and biolibraries will develop and prosper. Their networks will also expand, nationally and internationally. Main segments for revenue growth will include the human tissue and stem cell submarkets.

Jennifer Taylor, a pharmaceutical industry analyst in visiongain, said: “That market expansion will be driven by the increasing use of banked human tissues, primary cell lines and stem cells in preclinical pharmaceutical research and development. Currently, around 90% of drugs in clinical trials fail; pharmaceutical companies are looking for more-reliable preclinical models to reduce unnecessary R&D spending. Increasingly, they are looking to human tissue and stem cell models for preclinical drug development, as they provide a more-accurate representation of how drugs will act in the clinical setting.

“The development and public awareness of stem cell treatments will also drive expansion of the market. Over the coming 10 years there will be an increase in stem cell banking for future therapeutic use. The highest rates of market expansion will occur during the first half of the forecast period. Between 2017 and 2023, this rate of expansion will begin to slow as more companies become established, increasing competition and saturating the market.”

The strength of the biobanking market derives from its vital role in drug development and personalised medicine, as well as the demand for private stem cell banking. However, the market also faces challenges of standardisation and harmonisation of biobanking practices. Also, in 2013, the market is diverse and fragmented, with biological samples contained in many small biobanks around the world; researchers often face difficulties accessing a high number of high quality biospecimens. However, the establishment of biobanking networks in many countries helps to overcome these challenges, the study concludes.

That report shows revenue forecasts to 2023 at overall world market, submarket and national level. Its research, data and analyses cover activities of Tissue Solutions, Asterand, Biopta, BioServe and other providers of technologies and services for archiving medical biosamples.

In addition to forecasting the overall world market for the topic, the study predicts revenue trends for three world-level submarkets and component segments:

Human tissue samples
Stem cells and related material
Other biopreservation (including DNA, RNA and body fluids).

Visiongain’s investigation also discusses technological and commercial news, shows seven research interviews and predicts overall revenues to 2023 in leading national markets. The study analyses the US, Japan, Germany, France, the UK, Spain, Italy (EU5), Brazil, Russia, India and China (BRIC).

Further Information
Access to this exclusive content is for Technology Networks Premium members only.

Join Technology Networks Premium for free access to:

  • Exclusive articles
  • Presentations from international conferences
  • Over 2,800+ scientific posters on ePosters
  • More Than 4,000+ scientific videos on LabTube
  • 35 community eNewsletters

Sign In

Forgotten your details? Click Here
If you are not a member you can join here

*Please note: By logging into you agree to accept the use of cookies. To find out more about the cookies we use and how to delete them, see our privacy policy.

Scientific News
High Throughput Mass Spectrometry-Based Screening Assay Trends
Dr John Comley provides an insight into HT MS-based screening with a focus on future user requirements and preferences.
Revolutionary Technologies Developed to Improve Outcomes for Lung Cancer Patients
Breath test to detect lung cancer brings oxygen directly to the wound.
NIH Supports New Studies to Find Alzheimer’s Biomarkers in Down Syndrome
Initiative will track dementia onset, progress in Down syndrome volunteers.
Dementia Linked to Deficient DNA Repair
Mutant forms of breast cancer factor 1 (BRCA1) are associated with breast and ovarian cancers but according to new findings, in the brain the normal BRCA1 gene product may also be linked to Alzheimer’s disease.
Using Drug-Susceptible Parasites to Fight Drug Resistance
Researchers at the University of Georgia have developed a model for evaluating a potential new strategy in the fight against drug-resistant diseases.
Boosting Breast Cancer Treatment
To more efficiently treat breast cancer, scientists have been researching molecules that selectively bind to cancer cells and deliver a substance that can kill the tumor cells, for several years.
New Gene Map Reveals Cancer’s Achilles’ Heel
Team of researchers switches off almost 18,000 genes
New Discovery Sheds Light on Disease Risk
Gaps between genes interact to influence the risk of acquiring disease.
How Cells ‘Climb’ to Build Fruit Fly Tracheas
Mipp1 protein helps cells sprout “fingers” for gripping.
Research Finding Could Lead to Targeted Therapies for IBD
Findings published online in Cell Reports.
Scroll Up
Scroll Down
Skyscraper Banner

Skyscraper Banner
Go to LabTube
Go to eposters
Access to the latest scientific news
Exclusive articles
Upload and share your posters on ePosters
Latest presentations and webinars
View a library of 1,800+ scientific and medical posters
2,800+ scientific and medical posters
A library of 2,500+ scientific videos on LabTube
4,000+ scientific videos