Biobanking Industry Will Rise Due To Growing Investments For R&D Of Advanced Therapies
The global biobanking industry size will witness an upward growth trajectory in the wake of soaring investments in regenerative medicine and personalized medicine, according to the " Biobanking Industry Data Book, 2023 - 2030 ," published by Grand View Research. The growing commercialization of biobanking services and the rising penetration of novel therapeutic discovery have opened avenues of growth for pharmaceutical and biotechnology researchers. Biobanks have become invaluable for drug discovery and assessing the genetic component of human disease, a trend likely to expand to the realms of virtual biobanks, blood banks, DNA/RNA banks, genetic banks and stem cell banks. The demand for medical data sets in biobanks has spurred the trend for precision medicine. A personalized approach to healthcare, as well as the development of new drugs, has become paramount. So much so that the identification of biomarkers has gained an impetus for early detection, treatment and preventio