Global Bio-Banking market Research and Forecast 2018-2023

Posted by Orion Market Research on July 18th, 2018

The research in healthcare are augmenting the global biobanking market. The biobank concept was introduced by the Icelandic parliament through an Act on health sector database in 1998. After that the US bioethics Advisory commission present a report on handling human biological specimens. In 2006 the Council of European adopted policy on biobank. The biobanking is the key area for researchers to promote drug discovery and development. The discovery and development of new drugs and medicine for an effective treatment of diseases plays a critical role in community health. Development of personalized medicine depends significantly on an accurate diagnostic test, which identifies patients for targeted therapies.

In the US, the cancer Human Biobank, Bethesda, MD (CAHUB) is supported and developed by the National Cancer Institute for maintaining and preserving human cancer tissue samples for medical research. Similarly, the UK Biobank Limited is funded by the Medical Research Council, Department of Health, and the Welcome Trust. These funding contributes significantly in promoting biobanking activities and therefore escalate the growth of global biobanking market. In an instance, as part of President Obama’s Precision Medicine Initiative (PMI), the National Institutes of Health announced in 2016 to award 2 million over five years to the Mayo Clinic, Rochester, Minnesota. The rewards were given to establish the largest research-cohort biobank for the PMI Cohort Program. The program aims to register 1 million or more US participants in developing advance precision medicine. The award was given to promote and support the storage, collection and distribution of biospecimen for research use.

Related Reports: Healthcare Industry Research

In 2018, Integrated Biobank of Luxembourg (IBBL) launched the, that is an online website consenting scientists to check the quality of biological samples and improve the reproducibility of biomedical research. The success of biomedical research is closely linked to the quality of the underlying biological samples (tissues, blood, urine, etc.). The use of inadequate specimens may lead to results that are unreliable and irreproducible. This can in turn affect the translation of the findings of such studies into clinical practice. Tests allowing scientists to assess the quality of their clinical biospecimens are therefore a crucial component of biomedical research. Multiple quality control (QC) assays are available to guarantee the suitability of biological samples for the intended research purposes. However, their use is still not sufficiently widespread in the research community. Moreover, there are currently no dedicated tools that indicate the most appropriate QC assay to be used when working with a given biospecimen type in the context of a certain downstream application. IBBL conceived and launched with for putting its expertise to the profit of the international research community. The AIDS Clinical Trial Group (ACTG) is the group of HIV researchers. ACTG has collected more than 2.5 million biological samples from over 200 clinical trials. These samples are stored in a central biobank. ACTG allows researchers to reuse samples for exploratory studies once original clinical trials are finished.

Browse full report at: Bio-Banking market

The key market player of the market includes Bayer Schering Pharma AG, Abbott Laboratories, Cancer genetics, Eli Lilly and Company, GlaxoSmithKline, Merck & Co., Novartis AG, Pfizer Inc., and others. In 2016 SAM HD, that is a low-capacity automated sample management system launched by the Hamilton Storage. It is an automated sample storage collection solution for the labs. The system can process samples through the day or outside of typical work hours to maximize productivity throughout the lab. This system available in storing samples at +4°C, −20°C, −40°C and −80°C, with capacity up to 60,000 tubes in standard racks, or 86,250 tubes using the SBS-compliant, high-density RackWare from the company. In 2017, UK biobank has taken an initiative with GSK and the Regeneron Genetics Centre (RGC). This initiative will provide a valuable insight to the researchers supporting the advancements in the development of new medicines for life threatening diseases and growth of the global biobanking market.

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