Published by Uma Rajagopal
Posted on February 15, 2022
Advancements in regenerative medicine are creating new pathways for revenue generation across the biobanking market. There is little contention about the medical relevance of research conducted on biological samples taken from the human body. These samples serve as a crucial source for scientists to understand the medical benefits and regenerative properties of tissues and bodily fluids. In recent years, the medical research fraternity has begun studying biological samples in conjunction with extrinsic biological indicators such as height, age, and weight of individuals. Furthermore, study of these biological samples is facilitating pathbreaking success in human genetics research, geoengineering, and genotypic data. It is, therefore, safe to predict that the global biobanking market would tread along a lucrative pathway in the times to follow.
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The commendable outcomes from research conducted on biological samples has encouraged the development of biobanks across the world. These samples have made it possible to develop anti-seizure medications that ultimately help in managing heart diseases. Furthermore, genetic research has revealed the role of genetic changes in triggering the risk of rheumatoid arthritis, osteoporosis, and certain types of cancers. In addition to this, the worldwide call for global governance of biobanks is also expected to facilitate inflow of fresh revenues into the global biobanking market. UNESCO, the World Trade Organization, and World Health Organization (WHO) are some of the entities that could play a vital role in global governance of biobanks.
Applications in Oncology to Build a Strong Foundation for Market Growth and Expansion
Study of the DNA to get a closer view of health and wellness parameters has opened new pathways within modern medicine. Several research lines have been initiated to study the impact of genetic changes in increasing risk of certain types of cancers. The domain of oncology has been on a quest to develop cutting-edge technologies in cancer research. In this scenario, biobanking could play a pivotal role in facilitating cancer research and treatment. The medical research sector is also exploring potential relationships between genetic changes and disease occurrence. This could facilitate improved development of medications for several disease types. The US is the forefront of developing a dedicated framework for biobanking in the contemporary scenario.
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Preservation of Cord Blood Stem Cells to Augur Well for Growth of Biobanking Market
The groundbreaking progress made towards stem cell preservation is creating a massive opportunity for the global biobanking market. Stem cell transplantation has transcended as an effective avenue in treating leukemia, osteoarthritis, and other intractable conditions. Furthermore, the regenerative power of stem cells obtained from cord blood has reinstated the confidence of the masses in stem cell preservation. Complex and chronic diseases such as arthritis, Alzheimer’s, and asthma can be controlled, managed, and treated with the use of stem cell therapy. Therefore, a large population is resorting to biobanking pathways to preserve stem cells for their offspring.
Some of the prominent names in the global biobanking market are Cardiff University Biobank (CUB), CRB Amazonie, Creative Bioarray, Club 3C-R: French network of biobanks, Coriell Institute, CRYOSTEM, Cytologics, and Geneticist.
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