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Biobanks Market Witnesses Growth due to Increasing Incidence of Chronic Diseases

Transparency Market Research, a reputed research company, presents a new research report about the global biobanks market. The report, titled “Biobanks Market - Global Industry Size, Share, Trends, Analysis And Forecast 2012 - 2018”, gives an accurate and detailed analysis of the global market. The research report has been thoroughly compiled using a SWOT analysis and Porter’s five forces analysis, both of which highlight crucial elements in the market. The report sheds light on the key market drivers, threats, opportunities, and restraints.
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According to analysts, the global biobanks market was valued at US$142 mn in 2011 and it is expected to reach US$216.3 mn in 2018, growing at a steady CAGR of 5.40% from 2011 to 2018. This growth will be attributed to the increasing number of mergers and acquisitions amongst vendors. For instance, Thermo Fisher and Dionex Corp’s collaboration in 2011 is a fine example of the growing number of interactions between private and public biobanks.
The global biobanks market will also be propelled by the political and scientific environment developing around this market. Furthermore, the increasing incidence of chronic diseases will also bolster this market. Several types of cardiovascular diseases, cancer, neurovascular diseases, and respiratory diseases, and diabetes are increasing in morbidity around the world, which is expected to boost the growth of this market. The increasing government funding and public awareness will also encourage the growth of the global biobanks market. Several pharmaceutical and biotech companies are also using biobanks for developing newer drugs to treatment a slew of diseases and conditions that are a result of unhealthy diets, sedentary lifestyle, heavy alcohol consumption, and excessive smoking.
Analysts predict this market could face challenges in the form of unreliable standardization and poor biospecimen quality. Analysts valued the private sector biobanks market at US$42.4 mn in 2010 and predict that the market will reach a value of US$93.7 mn by 2018. In terms of geography, Europe and the U.S. collectively hold a huge share in the overall biobanks market. However, Asia Pacific is showing a promise of growth due to its huge population base.
Some of the important players in the global biobanks market are TAP Biosystems, NEXUS Biosystems, BioKryo GmbH, Thermo Fischer Scientific Inc., Beckman Coulter Inc., New Brunswick Scientific Co. Inc., and Tecan AG. Currently, Thermo Fisher leads the global biobank market with solutions that are cleaner, safer, and healthier. The report offers a clear understanding of the competitive landscape of the global biobanks market. Furthermore, it also provides statistics related to financial overview, research and development activities, business and marketing strategies, and investment outlook of the major companies in the near future.
Full Research Report on Global Biobanks Market:
http://www.transparencymarketresearch.com/biobanks-market.html