Asia Pacific Biobanks Market

Market Introduction

Asia Pacific (APAC) is the fastest-growing regional market for Biobanks; and China, India, Japan, South Korea, Australia, and Rest of APAC are the major contributors to the market in this region. Biobanking is one of many initiatives aimed at preserving biological resources and data for future research and development. Asian countries, particularly China, Japan, and Korea, are very active in biobanking efforts as part of government-coordinated strategic programs. They also set up networks for Asian biobanks ahead of time to allow resource and expertise sharing. To develop stable operation systems, biobanks in these nations should standardize operational procedures and diversify financing sources.

Countries in Asia Pacific are facing challenges due to increasing incidences of COVID-19. Despite growing investment in research to create covid-19 vaccines and therapies, the Asia Pacific biobanking sector, which has been plagued by ethical difficulties and infrastructure challenges, is likely to grow rapidly in the future years. In India, The Indian Council of Medical Research (ICMR) has approved 16 bio-repositories to collect, store, and keep clinical samples from covid-19 patients, including as oropharyngeal/nasopharyngeal swabs, bronchoalveolar lavage, sputum, blood, urine, and stool. The Department of Biotechnology would support these covid-19 certified bio-bank facilities with a well-thought-out future strategy, allowing for the development of novel technological interventions in due time. According to the government, these certified bio banks will utilize clinical samples for R&D purposes in their respective institutes. Biobank samples could provide crucial answers to these concerns, opening up new possibilities for enhanced diagnostics and therapies. The importance of biobanking, its function in understanding illness patterns, and its utility in producing vaccines and other prevention and treatment protocols has been highlighted by ovid-19. With the government's current focus on biobanks and repositories, we expect that regulators will try to make approvals easier. This would also aid in the development of the public-private partnership model in biobanking, as well as the ability to attract foreign partnerships and India-centric data. The importance of bio-banks in Asia Pacific has been highlighted by covid-19.

Market Overview and Dynamics

The biobanks market in Asia Pacific is expected to grow US$ 540.25 million in 2021 to US$ 871.63 million by 2028; it is estimated to grow at a CAGR of 7.1% from 2021 to 2028. Five years ago, genomic sequencing was restricted to the research environment. Genomic sequencing is rapidly transitioning into clinical practice, and implementation into healthcare systems has been supported by substantial government investments. The national genomic-medicine initiatives are driving transformative change under real-life conditions while simultaneously addressing barriers to implementation and gathering evidence for broader adoption, thereby driving the market growth. In April 2020, MedGenome—a Bengaluru-based genetic diagnostics, research, and data company—announced that it had raised US$ 55 million (about INR 419 crore) in a new round of funding, led by global impact investment firm LeapFrog Investments. Also, MedGenome claimed that it has built the largest database of South Asian genetic variants in genetic diagnostics in India and research partnerships. It has completed over 200,000 genomic tests to date and obtained samples from more than 550 hospitals and 6,000 clinicians across India. In genomic research on infectious diseases and their hosts, biobanks are significant resources. The availability of large biobanks is necessary for population genomics. Data from biobanks helps understand the etiology of multifactorial diseases caused by mutations in a range of genes and the influence of environmental variables and lifestyle on world-wide population. Therefore, the importance of biobanking as a research infrastructure component is expanding. Biobanks have also cleared the path for personalized medicine to evolve, particularly the production of tailored medications. The integration, analysis, and interpretation of data from biobanks play a significant role in understanding genetic susceptibilities to infectious diseases. Thus, the continuous funding in genomics by the manufacturers and governments and ongoing genomic research activities drive the growth of the biobanks market.

Key Market Segments

In term of product and service, equipment segment held a larger market share of the biobanks market in 2021. In term of sample, blood products segment held a larger market share of the biobanks market in 2021. In term of application, regenerative medicine segment held a larger market share of the biobanks market in 2021.

Major Sources and Companies Listed

A few major primary and secondary sources referred to for preparing this report on the biobanks market in Asia Pacific are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are THERMO FISHER SCIENTIFIC INC.; Tecan Trading AG; QIAGEN; Hamilton Company; Avantor, Inc.; MICRONICS JAPAN CO., LTD.; BD; Taylor-Wharton; Brooks Automation, Inc.; Promega Corporation; and SciSafe Inc. among others.

Reasons to buy report

• To understand the Asia Pacific biobanks market landscape and identify market segments that are most likely to guarantee a strong return
• Stay ahead of the race by comprehending the ever-changing competitive landscape for Asia Pacific biobanks market
• Efficiently plan M&A and partnership deals in Asia Pacific biobanks market by identifying market segments with the most promising probable sales
• Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form Asia Pacific biobanks market
• Obtain market revenue forecast for market by various segments from 2021-2028 in Asia Pacific region.

Asia Pacific Biobanks Market Segmentation

Asia Pacific Biobanks Market – By

Product and Service

• Equipment
  • Storage Equipment
  • Sample Analysis Equipment
  • Sample Processing Equipment
  • Sample Transport Equipment
• Consumables
  • Storage Consumables
  • Analysis Consumables
  • Processing Consumables
  • Collection Consumables
• Service
  • Storage Services
  • Processing Services
  • Transport Services
  • Supply Services
• Software

Asia Pacific Biobanks Market – By

Sample

• Blood Products
• Human Tissues
• Cell Lines
• Others

Asia Pacific Biobanks Market – By Application

• Regenerative Medicine
• Life Science Research
• Clinical Research

Asia Pacific Biobanks Market – By

Country

• China
• Japan
• India
• South Korea
• Australia
• Rest of APAC

Asia Pacific Biobanks Market – Companies Mentioned

• THERMO FISHER SCIENTIFIC INC.
• Tecan Trading AG
• QIAGEN
• Hamilton Company
• Avantor, Inc.
• MICRONICS JAPAN CO., LTD.
• BD
• Taylor-Wharton
• Brooks Automation, Inc.
• Promega Corporation
• SciSafe Inc.     

Asia Pacific Biobanks Strategic Insights

Strategic insights for the Asia Pacific Biobanks provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

Asia Pacific Biobanks Report Scope

Asia Pacific Biobanks Regional Insights

The geographic scope of the Asia Pacific Biobanks refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.