India Biobanks Market Report 2023 to 2030

India Biobanks Market Analysis

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The India Biobanks Market was valued at $1,395.59 Mn in 2023 and is predicted to grow at a CAGR of 11.80% from 2023 to 2030, to $3,046.85 Mn by 2030. The key drivers of this industry include government support, the rising prevalence of chronic disease, and advancements in personalized medicine. The industry is primarily dominated by players such as Thermo Fisher Scientific, Merck KGaA, QIAGEN, and Hamilton Company among others.

ID: IN10INHS058 CATEGORY: Healthcare Services GEOGRAPHY: India AUTHOR: Aashwi Mehta

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India Biobanks Market Executive Summary

The India Biobanks Market was valued at $1,395.59 Mn in 2023 and is predicted to grow at a CAGR of 11.80% from 2023 to 2030, to $3,046.85 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.

Currently, India hosts 19 registered biobanks out of 340 worldwide, including biobanks for cancer, brain, liver, and other specific purposes. In 2022, it was estimated that there would be 1,461,427 new cancer cases in India, with a crude incidence rate of 100.4 per 100,000 people. A projected increase of approximately 12.8% in cancer incidence is anticipated by 2025 compared to 2020. The market is driven by significant factors like government support, the rising prevalence of chronic disease, and advancements in personalized medicine. However, ethical and privacy concerns, financial constraints, and standardization and compliance issues restrict the growth and potential of the market.

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

India Biobanks Market Report 2023 to 2030

Market Dynamics

Market Growth Drivers

Government Support: The Department of Biotechnology (DBT) has set up numerous biobanks, bio-repositories, clinical trial facilities, disease-specific cohorts, and demographic sites throughout India. This initiative acts as a market driver for the biobank sector in India by enhancing infrastructure and resources for biological research, facilitating the collection and analysis of diverse biological samples, and supporting advanced medical studies and clinical trials.

Rising Prevalence of Chronic Disease: Approximately 21% of India's elderly population aged 60 and above are affected by at least one chronic illness, with a higher prevalence in urban areas (29%) compared to rural areas (17%). This drives the biobank market in India by increasing the need for extensive biological sample collections to support research and development of treatments for chronic diseases, especially among the aging population.

Advancements in Personalized Medicine: Genetic testing, such as prenatal testing, carrier screening, and diagnostic testing, is becoming increasingly accessible and widely utilized in India. This facilitates the identification of genetic predispositions, aiding in personalized treatment decisions. This trend drives the biobank market by creating a higher demand for comprehensive biological sample collections to support genetic research and personalized medicine initiatives.

Market Restraints

Ethical and Privacy Concerns: Challenges concerning informed consent, data privacy, and the ethical use of biological samples can restrict participation and complicate regulatory compliance. This acts as a market restraint for the biobank market in India by potentially reducing the number of available samples and increasing the complexity and cost of maintaining compliance with ethical standards and legal requirements.

Financial Constraint: Ensuring financial sustainability is a major challenge, especially for smaller or newer biobanks in India. Securing consistent government funding and scientific oversight is essential. This acts as a market restraint by potentially limiting the growth and stability of biobanks.

Standardization and Compliance Issues: The lack of standardized processes, protocols, and archival activities across different biobanks in India is a restraint. This inconsistency can hinder collaboration, reduce sample quality and reliability, and ultimately limit the effectiveness and growth of the biobank market in the country.

Regulatory Landscape and Reimbursement Scenario

Biobanks in India are mainly regulated by guidelines from the Indian Council of Medical Research (ICMR), the Council of Scientific and Industrial Research (CSIR), and the Department of Biotechnology (DBT). The ICMR has provided guidelines addressing ethical considerations in human subject research, including aspects such as informed consent, sample ownership, and data sharing for biobanks.

Competitive Landscape

Key Players

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

Thermo Fisher Scientific
Merck KGaA
QIAGEN
Hamilton Company
Becton, Dickinson and Company
Tecan Trading
Avantor
BioLife Solutions
Charles River Laboratories
Sapien Biosciences

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

India 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?

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Searching through academic conferences, published research, citations, and social media platforms
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Collaborating with local healthcare providers, hospitals, and clinics to gather real-time data.
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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.
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Continuously monitoring and updating the database to reflect the latest developments and trends in the healthcare field.

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