Canada biobanks market is bound to experience impressive growth with an anticipated CAGR in the forecast period, 2022-2026, on account of increased research and technological advancement in genomic studies. Moreover, the global companies are actively investing in the healthcare research in Canada, and along with the government initiatives and private funding in the Canada biobanks market, which is anticipated to register a robust growth in the upcoming five years. Rapidly increasing research institutes, and inclination of the students and researchers towards various genomic studies is also driving the growth of the Canada biobanks market. Additionally, advancements in the biobanking and growing trend of conserving cord blood stem cells of newborns for future applications of stem cell therapies is also influencing the growth of the Canada biobanks market in the future five years. Development of precision medicine, genomic drugs, etc. is also supporting the growth of the Canada biobanks market. Furthermore, growing need for cost-effective drug discovery and development of the same is further aiding the growth of the Canada biobanks market in the forecast years, until 2026. Although, factors like high cost of automation of the biobanks and concerned issues related to procurement of biospecimen samples may affect the market or put a mild restraint on the future growth of the Canada biobanks market.
Biobanks are the storage units for the wide-range repositories that are responsible for the collection, storage and distribution of human samples like blood, cells, plasma, serum, urine, tissues, etc. Integration of advanced technologies, data analytics, and automation supports the maintenance of the biobanks. Some of the biobanks also keep records of the personal and health information of the patients like genetic information, health records, family histories, and lifestyle history. The information is helpful in predicting diseases and other biological and genetic studies.
The Canada biobanks market is segmented by type, ownership, product, specimen type, application, end user, competitional landscape, and regional distribution. Based on type, the market is further segmented into population based biobanks, disease oriented biobanks, tissue biobanks, and others. Disease oriented biobanks are anticipated to hold the largest revenue share of the market and assert their dominance over the market in the upcoming five years on account of surging count of chronic diseases, neural diseases and genetic diseases. Moreover, rapidly increasing studies based on the cure for various diseases as well as to understand the new diseases, communicable or non-communicable is also expected to drive the growth of the Canada biobanks market in the next five years.
A partial list of market players in the Canada biobanks market 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 shares in 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 benefits the market players in building their brand value. Other competitive strategies include mergers & acquisitions and new product developments.
Years considered for this report
Historical Years2016 – 2019
Base Year2020
Estimated Year2021E
Forecast Period2022F – 2026F
Objective of the Study
- To analyze the historical growth in the market size of Canada biobanks market from 2016 to 2020.
- To estimate and forecast the market size of Canada biobanks market from 2021 to 2026 and growth rate until 2026.
- To classify and forecast Canada biobanks market based on type, ownership, product, specimen type, application, end user, competitional landscape, and regional distribution.
- To identify dominant region or segment in the Canada biobanks market.
- To identify drivers and challenges for Canada biobanks market.
- To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in Canada biobanks market.
- To identify and analyze the profile of leading players operating in Canada biobanks market.
- To identify key sustainable strategies adopted by market players in Canada biobanks market.
Click here to download the sample
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers, suppliers, and distributors across the country. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the manufacturers, distribution channels and presence of all major players across the country.
TechSci Research calculated the market size of Canada
Key Target Audience
- Biobanks manufacturers, end users, and other stakeholders
- Organizations, forums, and alliances related to biobanks
- Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, suppliers, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
