The Overall Worldwide Medical Biobanking Industry will achieve revenues of $25 bn in 2019, says VG

LONDON - Aug. 20, 2015 - PRLog -- Medical biobanks market to reach $25bn in 2019, according to new visiongain data

A new report by visiongain forecasts the overall worldwide medical biobanking industry will achieve revenues of $25 billion in 2019. That sales prediction and others appear in Biobanking for Medicine: Technology, Industry and Market 2015-2025, published in June 2015.

Visiongain is a business information publisher and consultancy in London, UK. Its purpose is to help organisations understand industries and markets, especially their commercial prospects. That publishing company uses financial and other projections, producing quantitative and qualitative analyses, as well as surveying authorities in the field.

The biobanking industry will expand at a CAGR of 9% between 2019 and 2025. It holds high commercial potential, serving important needs in pharmaceutical research and development (R&D), as well as basic medical research. In 2014 biobanks for research purposes formed the most lucrative part of that industry, accounting for 77.41% of the overall world market. The study shows that segment will show strong revenue expansion from 2015 to 2025.

Sandra Wenas, a pharmaceutical industry analyst in visiongain, said: “Nearly two thirds of the world’s biobanks have been established in the past 10 years. That increase in biobanking activity is due, at least in part, to completion of the Human Genome Project. Biobanking is changing approaches to drug target identification, drug discovery and development, and is vital in efforts towards personalised medicine. Recognising the value of samples stored in biobanks, pharmaceutical and biotech companies worldwide invest in biobank development and use, including consuming services biopreservation organisations offer.

“Our analysis shows the stem cell banking market for therapeutic use will achieve the highest revenue growth over the forecast period to 2025. Interest in that field is growing, owing to increased awareness of the potential of stem cell therapies. That segment will expand at a CAGR of 14% from 2014 to 2025.

“With high R&D spending and failure of drugs in clinical trials, pharmaceutical developers and manufacturers seek ways to make more-reliable stop-go decisions earlier in the drug development process. This can be achieved through the use of human biological samples (HBS) stored in biobanks. There is an increasing appreciation of the importance of human tissue and stem cell based drug screening systems in place of traditional animal models.

“Also the pharmaceutical industry moves towards a personalised approach to medicine. Through studies using banked HBS, biomarkers or genetic factors, indentifying non-responders to a drug can improve. Biobanking will underpin drug discovery and personalised medicine between 2015 and 2025. That market, however, remains fragmented as there is need for greater harmonisation of efforts and guidelines at national and international level.”

Visiongain’s new investigation shows revenue forecasts to 2025 at world market, submarket and national level. It forecasts biobanking for research and for therapeutic uses in human medicine. It also forecasts the number of samples stored in those two fields.

The report discusses the following subsectors of biobanking for research purposes:

·         Human tissues (further divided to commercial and public sectors)

·         Stem cells

·         Other biological samples (e.g. DNA, RNA, body fluids).

That study also discusses the subsectors of biobanking for therapeutic use:

         Umbilical cord stem cell banking

·         Adult stem cell banking.

Furthermore the work analyses 12 leading national markets for biobanking, providing revenue forecasts to 2025 for each:

·         United States (US)

·         Japan

·         Germany, France, UK, Italy, Spain (EU5) and Netherlands

·         Brazil, Russia, India and China (BRIC).

The survey examines leading biorepositories and related companies. That work also discusses systems, software, consumables and services used by biobanks. It gives 72 tables, 73 charts and two interviews with authorities on that field.

Biobanking for Medicine: Technology, Industry and Market 2015-2025 adds to visiongain’s range of reports on industries and markets in healthcare. That portfolio covers pharmaceuticals, medical devices, diagnostics and outsourced services, including contract research (CROs), manufacturing (CMOs) and selling (CSOs).