Updated on 12 June 2012
Asia has recorded the highest compound annual growth rate in terms of its growth prospects for automation tools
Asia is becoming increasingly important as a market for upcoming biobanks. Within Asia, India, China and Japan have attractive prospects. Many countries in Asia have launched or are about to launch ambitious population-based biobanking projects. In fact, some of the biggest projects in terms of number of samples can be found in Asia. Pharmaceutical companies are focusing their priorities on the large and relatively untapped populations in Asia. Companies want a strong presence in this region not only for novel DNA reservoirs, but also because of the recent history of deadly infectious disease outbreaks, such as SARS.
Approximately 13 percent of revenues for the automation vendors within the biobanking arena arise from Asian countries. Asia has recorded the highest compound annual growth rate (CAGR) in terms of its growth prospects for automation tools. For the period between 2012 and 2018, the estimated CAGR is 8.7 per cent. Since 2002, China and Japan have been active in biobanking.
Many biobanks are still in nascent stages to automate their storage process as a result of which the CAGR for automated compound storage segment is 7.6 percent. Laboratory Information Management System (LIMS) and consumable segment will grow at a CAGR of 7.1 per cent and 10.3 per cent, respectively. The existing and established biobanks are increasing patient recruitment and donor programs owing to which there will be a steep increase in the demand for consumables.
The US is known for its well-established private biobanks. However, country patterns also indicate that for many private biobanks in the US, getting into Asia is an enormous undertaking due to government sanctioned restrictions on sample exportation.
The emerging Asian markets would lead revenue growth in the automated liquid handling robotics and the consumable segment over the next two years. However, compound storage and LIMS will be an area to focus for medium term growth prospects.