China Biobanks Market Report 2023 to 2030

China Biobanks Market Analysis

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The China Biobanks Market was valued at $6,168.90 Mn in 2023 and is predicted to grow at a CAGR of 10.30% from 2023 to 2030, to $12,252.90 Mn by 2030. The key drivers of this industry include government support, rising chronic diseases, and research and development initiatives. The industry is primarily dominated by players such as Thermo Fisher Scientific, Merck KGaA, QIAGEN, and Tecan Group among others.

ID: IN10CNHS058 CATEGORY: Healthcare Services GEOGRAPHY: China AUTHOR: Aashwi Mehta

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China Biobanks Market Executive Summary

The China Biobanks Market was valued at $6,168.90 Mn in 2023 and is predicted to grow at a CAGR of 10.30% from 2023 to 2030, to $12,252.90 Mn by 2030.

A biobank is a curated collection of mainly human biological samples and related data systematically organized for research purposes. These facilities play a crucial role in medical research, supporting various contemporary studies such as genomics and personalized medicine. The types of samples and information gathered vary based on each biobank's specific objectives. For instance, some biobanks focus on specific diseases like cancer, while others are population-based, comprising samples and data from individuals within a particular demographic or geographic area.

In China, a regional survey revealed that a significant majority of respondents, about 79.3%, were unfamiliar with biobanks and the concept of donating samples to them. Meanwhile, a national survey focusing on Grade A tertiary hospital biobanks highlighted substantial variation in sample sizes among facilities. Some biobanks managed collections exceeding 10 Mn samples, whereas others held fewer than 1 Mn samples. The market is driven by significant factors like government support, rising chronic diseases, and research and development initiatives. However, ethical considerations, data privacy concerns, and public awareness and trust restrict the growth and potential of the market.

Prominent players in this field include Thermo Fisher Scientific, Merck KGaA, QIAGEN, and Tecan Group among others.

China Biobanks Market Report 2023 to 2030

Market Dynamics

Market Growth Drivers

Government Support: Government investments and policies that bolster biomedical research and healthcare infrastructure development are significant drivers for China's biobank market. These initiatives provide substantial regulatory frameworks that stimulate growth, innovation, and the establishment of robust biobanking capabilities, thereby fostering a conducive environment for advancing medical research and healthcare solutions.

Rising Chronic Diseases: The high prevalence of chronic diseases among older adults in China, impacting 81.1% of the population and encompassing approximately 179.9 Mn individuals, serves as a significant market driver for the biobank sector. This demographic trend creates a substantial demand for biobanking services to support research into genetic and biomarker studies, personalized medicine, and therapeutic development aimed at addressing the healthcare needs of an aging population with chronic health conditions.

Research and Development Initiatives: The growth in research efforts focused on personalized medicine, genomics, and drug development is driving the demand for top-notch biological samples. This surge in demand serves as a significant market driver for China's biobank sector, necessitating the availability of high-quality specimens to support advanced biomedical research and innovation.

Market Restraints

Ethical Considerations: Ethical issues surrounding consent, confidentiality, and the utilization of genetic data in research can hinder public trust and impact stakeholder perceptions in China's biobank market. This poses a significant restraint as it may deter participation and collaboration, affecting the acquisition and utilization of biological samples crucial for research and development in biomedicine.

Data Privacy Concerns: Strict data privacy regulations and worries about data security may hinder the collection and sharing of biological samples in China's biobank market. This serves as a market restraint due to the potential barriers it creates for obtaining and utilizing samples crucial for research and development in biomedicine.

Public Awareness and Trust: Limited public awareness and trust regarding biobanking practices and the handling of personal data could impede participation rates in China's biobank market. This represents a market restraint as it may deter individuals from donating samples or participating in research initiatives, thereby restricting the availability of essential biological materials for scientific advancement and innovation.

Regulatory Landscape and Reimbursement Scenario

The National Medical Products Administration (NMPA) oversees the review and approval of clinical trials, including those that involve biobanks and human genetic resources (HGR). Meanwhile, the Ministry of Science and Technology (MOST) manages China's HGR, ensuring that activities related to the collection, preservation, use, and external sharing of these resources adhere to ethical principles. This involves undergoing ethical review by registered ethics committees as mandated by MOST.

Competitive Landscape

Key Players

Here are some of the major key players in the China Biobanks Market:

Thermo Fisher Scientific
Merck KGaA
QIAGEN
Tecan Group
Becton, Dickinson and Company
STEMCELL Technologies
Avantor
Promega Corporation
Hamilton Company
Azenta Life Sciences

1. Executive Summary
1.1 Service Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Healthcare Services Market in Country
1.6 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Market Size (With Excel and Methodology)
2.2 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share

4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Services
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

China Biobanks Market Segmentation

By Product and Service

Equipment
Consumables
Services

By Sample Type

Blood Products
Human Tissues
Nucleic Acids
Others

By Application

Regenerative Medicine
Life Science Research
Clinical Research
Others

Methodology for Database Creation

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How Do We Get It?

Our database is created and maintained through a combination of secondary and primary research methodologies.

1. Secondary Research

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Analyzing historical proprietary data collected from multiple projects.
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Searching through academic conferences, published research, citations, and social media platforms
Collecting and compiling diverse data to build a comprehensive and detailed database
Continuously updating our database with new information to ensure its relevance and accuracy

2. Primary Research

To complement and validate our secondary data, we engage in primary research through local tie-ups and partnerships. This process involves:

Collaborating with local healthcare providers, hospitals, and clinics to gather real-time data.
Conducting surveys, interviews, and field studies to collect fresh data directly from the source.
Continuously refreshing our database to ensure that the information remains current and reliable.
Validating secondary data through cross-referencing with primary data to ensure accuracy and relevance.

Combining Secondary and Primary Research

By integrating both secondary and primary research methodologies, we ensure that our database is comprehensive, accurate, and up-to-date. The combined process involves:

Merging historical data from secondary research with real-time data from primary research.
Conducting thorough data validation and cleansing to remove inconsistencies and errors.
Organizing data into a structured format that is easily accessible and usable for various applications.
Continuously monitoring and updating the database to reflect the latest developments and trends in the healthcare field.

Through this meticulous process, we create a final database tailored to each region and domain within the healthcare industry. This approach ensures that our clients receive reliable and relevant data, empowering them to make informed decisions and drive innovation in their respective fields.