Biobanking

How Regenerative Medicine will Impact the Biobanking Industry

Business Healthcare Research Technology World

Biobanking Market plays an integral role in advancing biomedical and translational research, through the collection and preservation of biological samples, such as blood, tissues, and nucleic acids, which are then made available for use in research to discover disease-relevant biomarkers; this is further used for diagnosis, prognosis, and predicting drug responses. Growth in the number of research activities in this segment forms a major driver for the  market.

The availability of government funding for regenerative medicine, stem cell therapeutics, and cell & gene therapy is supporting research activities in this segment. Apart from this, the increasing trend of cord blood banking will also aid growth of this market segment.

Future prospects including advancements in orthopedic procedures with the use of stem cells are expected to further support market growth for regenerative medicine.

A number of factors such as increasing number of Genomics research activities for studying diseases, advances in biobanking and growing trend of conserving cord blood stem cells of newborns and government & private funding to support regenerative medicine research in biobanking are expected to drive the growth of this market.

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Biobanking
hand of a doctor taking a blood sample tube

Regenerative Medicine

Regenerative medicine is the process of creating living, functional tissues to repair or replace tissue or organ function lost due to age, disease, damage, or congenital defects. The archiving of biological specimens from donors for use in research has become an important resource for regenerative medicine research.

High-quality and well-annotated tissue sample collections stored in dedicated biorepositories have become an essential tool in regenerative medicine for developing diagnostic, prognostic, and therapeutic applications to advance human health.

Life Science Research

In-house laboratories, repositories, and biobanks require primary cell cultures and cell lines for biomedical research, personalized medicine, cell-based research, and related segments. Due to the large turnover of highly sensitive samples in these research activities, it is critical to have a repository for the proper handling of samples.

A biosample repository ensures appropriate long-term storage conditions for such samples. The samples are sorted, tracked, and made available to scientists to support life science research activities. A dedicated biobank helps curtail the recurring cost of continuous sample procurement from donor sites, thereby supporting targeted research in life sciences.

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High cost of automation is a major factor restraining the growth of the Biobanking Market . Biospecimen storage instruments are equipped with advanced features and functionalities and are thus priced at a premium.

Moreover, since the cost of biobanking operations are not limited to automation, organizations have to consider various factors on which their overall financial stability is dependent before moving towards automation. This, in turn, is creating challenges for the long-term sustainability of biobanks.

Major industry players launched innovative products to maintain and improve their position in the Biobanking Market. Hamilton Company (U.S.), Thermo Fisher Scientific Inc. (U.S.), Brooks Automation (U.S.), and Panasonic Healthcare Holdings Co. Ltd (Japan) have been identified as the top players in this market. These companies have a broad product portfolio with comprehensive features and have also launched innovative products. These leaders also have products for all end users in this market, a strong geographical presence, and they focus on continuous product innovations.

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