Canada Biobanks Market to Grow Due to Technological Advancement until 2026
Rising demand for pharma product storage
is driving the growth of Canada Biobanks Market, in the forecast period,
2022-2026.
According to TechSci Research report, “Canada Biobanks Market By Type
(Population Based Biobanks, Disease Oriented Biobanks, Tissue Biobanks, Others),
By Ownership (Academic & Research Institutes, Pharmaceutical &
Biotechnology Industries, Hospitals, Non-Profit Organizations, Others), By
Product (Equipment & Consumables, Media, Software & Services), By Specimen
Type (Blood Products, Solid Tissue, Cell Lines, Nucleic Acid, Others), By
Application (Therapeutics, Drug Discovery, Clinical Research, Clinical
Diagnostics, Others), By End User (Academic & Research Institutes, Pharma
& Biotech Companies, Hospitals & Clinics, Others), By Region,
Competition Forecast & Opportunities, 2026”, Canada
Biobanks market has shown
promising growth in the past years and is expected to continue its growth in
upcoming forecast years. Canada biobanks market owes its growth to the factors
like rapidly increasing demand for advanced infrastructure for storage and
collection of human samples. Moreover, rapidly increasing demand for
procurement and storage of the cord stem cells is also expected to drive the growth
of the Canada biobanks market in the upcoming five years. Additionally, recent product
launches from the global market players in the country is also aiding the
growth of the Canada biobanks market. In April 2020, Québec COVID-19 Biobank
began operating in Canada. This biobank was launched by Genome Québec and the
Fonds de recherche du Québec. The biobank branch is dedicated to enable the
collection, storage and sharing of samples and data related to the COVID-19
crisis and to better understand COVID-19 infection and transmission, to
identify at-risk individuals and protect them and to improve treatment of this
disease and for hospitals to be able to decide who will need admission and
ventilation.
Storage
units for the wide-range repositories that are responsible for the collection,
storage and distribution of the human samples like blood, cells, plasma, serum,
urine, tissues, etc. are termed as biobanks. The integration of advanced
technologies, data analytics, and automation supports the maintenance of these healthcare
infrastructure. Some of the biobanks also keep records of the personal and
health information of the patients like genetic information, health records,
family history, and lifestyle history. The information is helpful in predicting
diseases and other biological and genetic studies.
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The
Canada biobanks market is segmented by type, ownership, product, specimen type,
application, end user, competitional landscape, and regional distribution. Based
on ownership, the market is further segmented into academic & research
institutes, pharmaceutical & biotechnology industries, hospitals,
non-profit organizations, and others. Academic and research institutes are
anticipated to hold the largest revenue shares of the market and assert their dominance
over the market in the upcoming five years on account of rapidly increasing
research and technological advancement in the genomic sector. Moreover, increasing
investment for the research and development, along with the growing need for
multiple samples to carry research activities is further driving the growth of
the Canada biobanks market. Increasing prevalence of cancer, Alzheimer’s
disease, and other chronic illnesses is supporting the growth of the
pharmaceutical & biotechnology industries and is responsible for the
significant growth in the Canada biobanks market.
Canada
biobanks market players’ list includes Applied Biobanking Solutions Inc., BC
Children’s Hospital Biobank, McCain GU BioBank, Alberta Cancer Research
Biobank, Biobank at Montreal Heart Institute, CHU Dumont Biobank, Pfeffer Lab
Biobank, Research Centre for Women’s and Infants’ Health (RCWIH) BioBank,
Maternal-Infant Research on Environmental Chemicals (MIREC), Canadian Biosample
Repository, CARTaGENE biobank, among others. These market players hold larger
share of the market than the new market players. With the evolving technology,
it is appropriate to say that the effective research and development of the
technologically advanced instruments and methods to satisfy consumer demands
would support the market growth and benefit the market players as well as the
consumers. New market players may focus on the research and development to
provide such products that satisfies the consumer demand as well as benefit the
market players in building their brand value. Other competitive strategies
include mergers & acquisitions and new product developments.
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“Canada
supports one of the most active and advanced healthcare industries in the
world. The rapidly increasing research and technical advancement in the
industry is driving its resources and specimen samples collection in the
country. Also, the presence of multiple market players and global giants in the
country is aiding the growth of the market. Due to the rising government
investment along with the FDI fundings, the sector is replenished with the
financial support and growing exponentially in the future five years. Upgrading
the infrastructure for the advancement of the platforms and using genetic
studies are some of the major markets driving factors,” said Mr. Karan Chechi,
Research Director with TechSci Research, a research based global management
consulting firm.
“Canada
Biobanks Market By Type (Population Based Biobanks, Disease Oriented Biobanks,
Tissue Biobanks, Others), By Ownership (Academic & Research Institutes,
Pharmaceutical & Biotechnology Industries, Hospitals, Non-Profit
Organizations, Others), By Product (Equipment & Consumables, Media,
Software & Services), By Specimen Type (Blood Products, Solid Tissue, Cell
Lines, Nucleic Acid, Others), By Application (Therapeutics, Drug Discovery,
Clinical Research, Clinical Diagnostics, Others), By End User (Academic &
Research Institutes, Pharma & Biotech Companies, Hospitals & Clinics,
Others), By Region, Competition Forecast & Opportunities, 2026” has evaluated the future growth potential of Canada Biobanks
market and provides statistics & information on market size, structure and
future market growth. The report intends to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in Canada biobanks market.
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