2012-09-05 12:49:08 - Global biobanking market to reach $183 billion by 2015
The global biobanking market has been forecast to increase at a compound annual growth rate (CAGR) of 5.5% between 2011 and 2015, increasing from a value of $141 billion in 2010 to reach $183 billion by 2015.The biobanking market presents the largest of all opportunities in the area of new drug and treatment development for specific diseases.One of the key factors contributing to this market growth is the significant increasing prevalence of chronic diseases. The global biobanking market has also been witnessing the trend of an increasing number of mergers and acquisitions among vendors.The increasing prevalence of disease has lead to an increase in demand for the various drugs used to treat them. Therefore, various pharmaceutical and biotech companies are
using biobanks and their repositories to develop novel drugs for the treatment of various chronic diseases.There has also been an increase in collaboration of public and private sector banks. For instance, Thermo Fischer Scientific acquired Dionex Corp. in May 2011 to increase the depth of its business in innovative technologies and emerging markets. This acquisition will expand the company´s presence in applied markets such as Water Testing, Environmental Analysis, and Food Safety and will increase its business in the APAC region.´However, the lack of standardised and high-quality human biospecimens could pose a challenge to the growth of this market.For more information on the global biobanking market, see the latest research: Global Biobanking Market ReportFollow us on Twitter @CandMResearch
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