The global biobanking market is set to gain traction from the rising integration of innovative technologies in the pre-existing systems. Besides, the introduction to virtual biobanking is set to revolutionize the system by enabling researchers to conduct their studies smoothly, as well as by lowering the time constraints. This information is published by Fortune Business Insights™ in a recent study, titled, “Biobanking Market Size, Share & Industry Analysis, By Sample Storage (Blood, Cells & Tissue, and Others), By Application (Regenerative Medicines, Life Sciences, and Others), By Settings (Academic Medical Institutes, and Pharmaceutical & Biotechnology Companies), and Regional Forecast, 2019-2026.” The study further mentions that the biobanking market size was USD 25.09 billion in 2018 and is projected to reach USD 49.46 billion by 2026, exhibiting a CAGR of 8.9% during the forecast period.
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| North America | United States, Canada and Mexico |
| Europe | Germany, UK, France, Italy, Russia and Turkey etc. |
| Asia-Pacific | China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam etc. |
| South America | Brazil, Argentina, Columbia etc. |
| Middle East & Africa | Saudi Arabia, UAE, Egypt, Nigeria and South Africa |
Regeneron & UK Biobank Provide New Human Sequencing Data
In March 2019, UK Biobank, a large long-term biobank study, and Regeneron Pharmaceuticals, Inc., a biotechnology company headquartered in New York, confirmed the availability of a vast amount of new human sequencing data, especially for health researchers. It would help in providing them with an unprecedented ‘Big Data’ resource for reforming the understanding of human biology. It is set to further aid them in therapeutic discovery.
Around 50,000 UK Biobank participants were taken into consideration for generating the exome sequence data at the Regeneron Genetics Center (RGC). GlaxoSmithKline also joined hands with both companies. The data is linked to detailed imaging, de-identified health records, and other related information. Regeneron is also a part of a consortium of biopharma organizations, consisting of Takeda, Pfizer, Biogen, Bristol-Myers Squibb, AstraZeneca, Alnylam, and Abbvie.
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