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Published on : Jan 19, 2016

Albany, New York, January 19, 2016:  The research report titled “Biobanking: Developing Smart, Sustainable and Ethically Compliant Biorepositories for the Future” and talks in detail about the regulatory as well as ethical issues that concern biobanking and the various challenges and opportunities that the market faces in the midst of various economic conditions. Inputs from industry experts have been included that provide clients with strategic recommendations on ways of addressing some of the most crucial technological, economic, and ethical hurdles that are anticipated to present themselves before the biobanking market in the coming years. 

Biobanking refers to the systematic collection and organization of human biospecimens and related data for the purpose of medical and scientific research. The essential challenge for biobanks is to identify the most effective method of storing data and making it available whenever required. Samples and associated data may be collected from healthy or diseased individuals in different settings and biobanks need the appropriate tools to make the entire process as smooth and error-free as possible. The growth of the biobanking market depends on the expansion of biospecimen collections, which is largely possible by the integration of innovative and accurate tools such as big data techniques. The market for biobanking is also driven by the growing industry demand for high-quality biospecimens to be used for research. 

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Biobanking is a practice that exists across the globe. However, North America, followed by Europe, forms the largest biobanking market in terms of number. In the Asia Pacific region, Australia has the largest number of biobanks. India, on the other hand, boasts of the highest number of biobanks among other developing economies. 

People’s willingness to donate their biospecimens and allow storage of the samples is key in the development of a biobank. As a result, public participation and support is crucial in the growth of the overall biobanking market. 

The research report offers clients sharp and fresh insights into the biobanking industry. It not only clearly elucidates the role of biobanks in the field of research and development, but also demonstrates the important relationship between research and development groups and biobanks. 

Presently, there are two main types of biobanks: disease-based biobanks and population-based biobanks. Apart from a detailed evaluation of the different types of biobanks, the research report also analyzes the distribution of these biobanks in major countries and regions. Technological advances in specimen gathering and storage, consumables, transportation of biospecimens, temperature maintenance, data handling, and integration of big data technologies in different biobanking activities are some of the key topics addressed in the market study.

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