A report added recently by Transparency Market Research, titled, “Human Biobanking Ownership Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016–2024,” states that the genetic and various other biological information contained in biobanks enable researchers to uncover crucial facts about diseases and disorders. It is a very useful resource that can used across borders to understand patterns in medical conditions in different demographics. Because of such benefits the market for human biobanking ownership is on a sustained growth trajectory.
A roadblock challenging the progress in the market for human biobanking ownership is the expensiveness of human biobanks, since genome sequencing is tedious and costly. The market is also being restrained to a degree by the strict rules and regulations in biobanking and concerns over privacy and security of human biobanks.
In order to study the human biobanking ownership market, the report segments it based on operator into pharmaceutical and biotech industry, academic and research institutes, hospitals, and stand-alone biobanks. Biobanks can be funded and operated privately and publically or through public-private partnership.
Geographically, Asia Pacific, at present, leads the global human biobanking ownership market due to the swift pace of growth of clinical research organizations and private biobanks. Europe and North America are other attractive regions. In Europe, for example, nations such as Estonia are focusing on collecting the DNA of every citizen to enrich their national biobank. Efforts such as these are providing a solid boost to the market.
Some of the key companies operating in the global human biobanking ownership market are ProMedDx, Affymetrix Inc., Acorda Therapeutics, Abbott Laboratories, Alpha Cord Inc., Biobank Ireland Trust, Biokryo GmbH, BioLife Solutions Inc., Cells4Life Ltd., BioStorage Technologies Inc., Core Dynamics Inc., Cesca Therapeutics Inc., Sanford Health, and Cryo Bio System.
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