(PharmaNewsWire.Com, May 12, 2017 ) Asia-Pacific Biobanks Market research report published by Market Data Forecast estimates that the market is growing with a CAGR of 8.56% to reach USD 57.06 million by 2021, from USD 37.84 million in 2016, which amounts to a cumulative growth of USD 19.22 million.
Biobank is basically a type of biorepository which stores the biological samples (mainly human samples) used for research purposes or even for treatment. In the coming years Asia pacific region is predicted to stand as tough contender with the developed regions reason being rapid growth in population. Increase in chronic diseases, which can be treated or else studied with the help of resources in the biobank, is a major driver for Asia pacific market. Government policies and funding for modernizing healthcare industry will provide a strong boost to the APAC biobank market.
There is an inclination in the Asia Pacific market for Bio preservation systems due to increase in demand for tissue banking, stem cell banking and umbilical cord banking. Dependence of researchers from all scientific realms on biobanks increased tremendously for providing samples. For the industrial development of diagnostics and therapeutics as well as for medical research biological material and related data have become an important resource.
The report also presents detailed analysis of multitude of factors affecting Asia-Pacific Biobanks Market bearing either positive or negative outcomes. Some of those factors are • Poor productivity rate of the pharmaceutical industry with respect to the new drug approvals is driving the Asia Pacific market • The vision of personalized medicine • Storage and handling problem • Regulatory issues and cost competitive procedures
For granular level understanding, the Asia-Pacific Biobanks Market is segmented based on sample type and product type each being provided with Market Size Estimations and Y-o-Y Forecasts. Sample type includes human tissues, stem cells, DNA or RNA, Bio-fluids and others whereas product type is subdivided into types of equipment’s (Temperature control systems, Incubators, Centrifuges, Alarm and Monitoring Systems, Accessories and Other Equipment) and consumables. Based on Application they are divided into Therapeutic Applications, Research Applications and Clinical Trials. The human tissues section is expected to account for the highest market share of approximately 65% during the forecast period. Preference for human tissue specimens is increasing over animal tissue samples due to unavailability of appropriate animal models for some specific neurological and psychiatric disorders.
The Asia-Pacific region is geographically segmented into China, India, Japan, South Korea, and Australia. Developing countries in this region such as India and China are projected to witness significant growth in the Plant Growth Regulators market due to the large-scale cotton industries and increasing acceptance of sustainable farming in this region.
The key players in biomarkers market include Tecan AG, Panasonic Biomedical Sales Europe B.V., Thermo Fisher Scientific Inc., Taylor-Wharton International LLC, So-Low Environmental Equipment Co., BioCision, VWR International, LLC, Beckman Coulter, Inc., and BioLife Solutions, Inc. One can observe that several market players have been launching new products and emphasizing mergers and acquisitions, partnerships and collaborations, setting the scene for a constructive, competitive environment.
The Asia-Pacific Biobanks Market report offers wide-range of scope: • Regional and country-level analysis that provides an individual perspective of Asia-Pacific region and the aforementioned countries • Know more about key areas of industry growth via detailed Segment-level analysis on basis of sample type and product type with market size forecasts and y-o-y estimations • Detailed explanation of major drivers, restraints, opportunities, and challenges (DROC) that affect the market and impact the ever-shifting market dynamics • Strategic Analyses containing PESTLE and Porter’s Five Forces Analyses which are obtained by studying the macro & micro environmental factors that affect the market demographics • Comprehensive listing of key market players along with Company overview, product portfolios, financials (subjected to availability), SWOT analysis and analyst overview • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies • Market Outlook - Investment opportunities devised by stand in experts to provide both individuals and organizations a strong financial foothold in the market
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