About Cryogenic Biobanking Services
Biobanking is a process for the cryogenic preservation of various biological samples for research and experimental purposes. The different steps in biobanking are collecting, storing, and commenting on samples and using them for research purposes. Different models of biobanks are being tracked in different parts of the world. Biobanking is not without shortages, especially legal and ethical issues. Biobanking is a process of collecting human biospecies (blood, tissues, and body fluids and their derivatives) for translational research, stored in places labeled as biobanks. Biobanking has contributed to the understanding and treatment of numerous diseases. It consists of four main steps. The first step in biobanking is the collection of organic species. These biospecies are typically obtained during hospital visits, therapeutic or diagnostic procedures, or post mortem autopsy from patients who form a semi-representative sample of the universe. The second step in biobanking is the conservation of this organic species. These biospecies are processed and preserved by fixation, freezing, and banking of living cells. The third step is labeling, also known as an annotation. The labeling includes the link to the patient's health data and their condition, treatment, and result as well as the documentation of the composition of the biospecies. The fourth step in biobanking is to use these biospecies for research purposes. Processed and labeled organic species are released to researchers in a systematic process. Biobanks usually contain cryogenic storage facilities for the samples. Their sizes can range from individual refrigerators to warehouses and are maintained by institutions such as hospitals, universities, non-profit organizations, and pharmaceutical companies.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
The companies are exploring the market by adopting expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions across the globe to avail of competitive advantage through combined collaborations. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Cryogenic Biobanking Services market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Coriell Institute for Medical Research (United States), BioServe Biotechnologies (India), Sigma-Aldrich (United States), Preservation Solution (United States), Thermogenesis Holdings (United States), Custom Biogenic Systems (United States) and Stemgent (United States) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Cryogenic Biobanking Services market by Type (Ice Machines, Freezers, Alarms And Monitoring System, Refrigerators, Cryogenic Storage Systems and Accessories), Application (Biobaking, Regenerative Medicine and Drug Discovery) and Region.
On the basis of geography, the market of Cryogenic Biobanking Services has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Biobank Type, the sub-segment i.e. Physical will boost the Cryogenic Biobanking Services market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Biospecimen Type, the sub-segment i.e. Human Tissues will boost the Cryogenic Biobanking Services market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Service Type, the sub-segment i.e. Biobanking & Repository will boost the Cryogenic Biobanking Services market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Introduction of New Cryogenic Biopreservation Facilities, Increasing Adoption of In House Sample Storage System by Pharmaceutical and Biotechnology Companies and Rising Investment by the Government and Non-Government Organizations in Biobanking Services
Market Growth Drivers:
Increase Owing To Rising Demand of Industry Products Globally, Increasing Adoption of Cord Blood Banking, Increasing Number of Scientific Research Will Ultimately Demand Cryogenic Biobanking Services and Increasing Investment by Pharmaceutical and Biotechnologies Companies in Cell-Based Therapy Researches
Challenges:
Tough Economic Climate for Scientific Research
Restraints:
Long Term Capital Investments and High Regulatory Requirements
Opportunities:
Increasing Number of Cancer Patients Which Demands Use of Biospecimen Materials for the Treatment of Cancer and Rising Demand of Biospecimens in Research and Development for Different Disease Conditions
Market Leaders and their expansionary development strategies
In July 2023, Camden institutions partner to launched groundbreaking Camden cancer research centre. the Coriell Institute for Medical Research, Cooper University Health Care, and Cooper Medical School of Rowan University (CMSRU) have launched the Camden Cancer Research Center (CCRC), a partnership to investigate cancer and translate basic cancer science into new treatments. The three organizations have pledged an initial USD 30 million to start this center.
In March 2020, coriell institute for medical research awarded USD 8.6M biobanking contract from national institute on aging. The newly awarded USD 8.6 million funding keeps Coriell in place as the trusted steward of this collection and includes the addition of new innovative products to expand the collection. The NIA Aging Cell Repository was established at Coriell in 1974 and Coriell has continuously managed this unique resource ever since.
Key Target Audience
Providers of Cryogenic Biobanking Services, Downstream Vendors, Private Research Institutes, Market Research Organizations and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.