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Human Biobanking Ownership Market Play A Pivotal Role In The Field Of Biomedical Research

Press Release   •   Oct 14, 2016 16:54 IST

Global Human Biobanking Ownership Market: Overview

Biobanks play a pivotal role in the field of biomedical research. A wide range of biospecimens including plasma, saliva, blood, and purified DNA are maintained by biobanks. These biospecimens are compiled to study the unique and general features of the continuous cell line and determine the presence or absence of contaminants. Biobanks usually compile the specimens on the basis of various genetic and other traits such as ethnicity, gender, age, and blood type. To understand the impact of environmental factors on the human genes, some of the samples are also collected depending upon whether the donor has been exposed to radiation and other substances.

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The human biobanking ownership market can be segmented into private banks, public banks, hospitals, biotechnology and pharmaceutical companies, diagnostics, transplantation, and biobank storage companies, and medical institutions, research, and forensics. The private and public banks can be further classified into disease-based banks, population-based banks, and academics.

Global Human Biobanking Ownership Market: Drivers and Restraints

The genetic data compiled by human biobanks helps scientists to understand hereditary diseases and the interaction of environmental and genetic factors. Studying the correlation between environmental and genetic factors is crucial to understand the mutations caused in the genes. Furthermore, these biobanks offer researchers an extensive pool of samples on the basis of age, gender, education, and lifestyle. All these factors have contributed toward the growth of the global human biobanking ownership market.

Cost is one of the primary factors inhibiting the growth of the global human biobanking ownership market. The process of sequencing genome is both tedious and expensive. As a result, government-owned biobanks usually outsource this process to research organizations. Compared to sequencing of genomes, genotyping is cheaper and about 10 times faster than harvesting the entire genetic code. Furthermore, concerns regarding the security of the genetic data across human biobanks have also hampered the growth of the market. In the U.S., 23andMe, a California-based personal genomics and biotechnology company has been accused of selling the genetic data of over one million customers for profit.

In the near future, the global human biobanking ownership market is expected to be governed by laws to protect the privacy of gene donors and establish their rights. For example, in Estonia, the Human Genes Research Act passed in 1999 provides donors full authority over who can access their data and establishes anonymity in clinical research. Such laws will help in the growth of the global human biobanking ownership market.

Global Human Biobanking Ownership Market: Region-wise Outlook

The global human biobanking ownership market can be segmented into four key regions: Europe, Asia Pacific, North America, and Rest of the World. Among these, Asia Pacific has been driving the global market growth owing to the rapid growth of the private biobanks and clinical research organizations in the region. Demand witnessed in North America and Europe is also significantly aiding the growth of the market.

In Europe, countries such as Estonia are focusing on collecting the DNA of every citizen in order to enrich their national biobank. In Estonia, the national biobank program started in 2000 by collecting DNA samples from a quarter of the country’s population. While these DNA samples are mostly used for clinical research, the government is planning to use this data to build a robust health care infrastructure by offering personalized care. The Government of Estonia has already started developing a system to make this genetic data available to citizens and doctors.

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Global Human Biobanking Ownership Market: Vendor Outlook

Some of the key players in the global human biobanking ownership market are Affymetrix Inc., Abbott Laboratories, Acorda Therapeutics, Alpha Cord Inc., Autogen Inc., Biobank Ireland Trust, BioCision, Biokryo GmbH, BioLife Solutions Inc., Biomatrica Inc., BioStorage Technologies Inc., Cells4Life Ltd., Cesca Therapeutics Inc., China Cord Blood Corporation, Core Dynamics Inc., and Cryo Bio System.

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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.