Saudi Arabia Biobanks Market Report 2023 to 2030

Saudi Arabia Biobanks Market Analysis

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The Saudi Arabia Biobanks Market was valued at $1,304.60 Mn in 2023 and is predicted to grow at a CAGR of 10.30% from 2023 to 2030, to $2,591.20 Mn by 2030. The key drivers of this industry include advancements in research, chronic disease prevalence, and government support. The industry is primarily dominated by players such as Thermo Fisher Scientific, Merck KGaA, QIAGEN, and Tecan Group among others.

ID: IN10SAHS058 CATEGORY: Healthcare Services GEOGRAPHY: Saudi Arabia AUTHOR: Aashwi Mehta

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Saudi Arabia Biobanks Market Executive Summary

The Saudi Arabia Biobanks Market was valued at $1,304.60 Mn in 2023 and is predicted to grow at a CAGR of 10.30% from 2023 to 2030, to $2,591.20 Mn by 2030.

A biobank is a carefully curated collection of primarily human biological samples and associated data, systematically organized for research purposes. These facilities are pivotal in medical research, aiding diverse studies such as genomics and personalized medicine. Each biobank collects samples and data tailored to its specific research goals. For example, some focus on diseases like cancer, while others gather samples and data from specific demographics or geographic regions.

In a 2022 study, healthcare providers in Saudi Arabia demonstrated a moderate knowledge level of 3.5 (±1.8) out of 7 regarding biobanks. Awareness of the Human Genome Project (HGP) and the term biobank was noted among approximately one-third of the participants, with 35% familiar with HGP and 34% with the term biobank. The market is driven by significant factors like advancements in research, chronic disease prevalence, and government support. However, ethical and regulatory challenges, limited public awareness, and financial sustainability 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.

Saudi Arabia Biobanks Market Report 2023 to 2030

Market Dynamics

Market Growth Drivers

Advancements in Research: Saudi Arabia's investment in enhancing research infrastructure and healthcare is driving the establishment of modern biobanks. This initiative aims to satisfy rising demands for biological specimens essential for personalized medicine and advanced medical research.

Chronic Disease Prevalence: The increasing prevalence of chronic diseases like diabetes in Saudi Arabia, estimated at 14.8% among males and 11.7% among females, is a significant market driver for the biobank industry. This trend underscores the need for comprehensive biobanks to support research into disease prevention, treatment, and management strategies tailored to the Saudi population.

Government Support: Government initiatives like The Saudi Biobank, led by the King Abdullah International Medical Research Center (KAIMRC), drive the biobank market in Saudi Arabia. This national project aims to enroll 200,000 participants from the Saudi population, significantly expanding the availability of biological samples and data for research purposes, thereby advancing healthcare and biomedical research capabilities in the country.

Market Restraints

Ethical and Regulatory Challenges: Strict regulations and ethical considerations surrounding consent, data privacy, and sample usage can complicate biobank operations and limit participation. These factors represent a market restraint for the biobank industry in Saudi Arabia, as they can hinder efficient functioning and reduce the number of willing participants.

Limited Public Awareness: Limited public understanding and awareness of biobanks and their significance can result in low participation rates and reduced donor engagement. This represents a market restraint for the biobank sector in Saudi Arabia, as it can impede the recruitment of sufficient biological samples and data needed for effective research.

Financial Sustainability: Maintaining the long-term financial viability of biobanks is challenging, especially for smaller or newly established ones that may have difficulty securing consistent funding. This serves as a market restraint for the biobank industry in Saudi Arabia, as financial instability can hinder the sustainable operation and growth of these biobanks.

Regulatory Landscape and Reimbursement Scenario

The Saudi Food and Drug Authority (SFDA) regulates biomedical research and ensures the safety and quality of biobank operations. The SFDA oversees various aspects of biomedical research, including clinical trials, post-market evaluations, and clinical evaluation studies, to ensure the safety and efficacy of medical devices and pharmaceuticals. The governance of the Saudi Biobank aligns with the International Ethical Guidelines for Biomedical Research Involving Human Subjects - Islamic View, published by the Islamic Organization for Medical Sciences, as well as the Saudi Arabian Law of Ethics of Research on Living Creatures from the National Committee of Medical and Bioethics.

Competitive Landscape

Key Players

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

Thermo Fisher Scientific
Merck KGaA
QIAGEN
Tecan Group
Becton, Dickinson and Company
STEMCELL Technologies Inc.
Avantor
BioLife Solutions
NoorDx
King Fahd Medical City Biobank

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

Saudi Arabia 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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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

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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.
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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.

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