Fast Growth in Real and “Virtual” Biobanks May be Revenue Opportunity for Clinical Pathology Laboratories
Biobanking is now a $7.9 billion industry and demand for specimens is skyrocketing
Biobanking is going big time! VisionGain estimates that biobanking is now a $7.9 billion industry. That’s a revenue number that should interest pathologists and clinical laboratory managers, since their organizations access large volumes of patient specimens every year.
As one source of human specimens, both clinical laboratories and anatomic pathology groups have an opportunity to participate in biobanking activities. At this stage in the market, however, few medical laboratories formally participate in biobanking activities. Experts believe that is likely to change.
The world’s largest biomedical database now contains tissue specimens gathered from more than 500,000 middle-aged Britons. It is the U.K. Biobank, which recently made its resources available to researchers. This biobank is backed by the U.K.’s Medical Research Council and the Wellcome Trust charity. Each tissue sample also has more than 1,000 pieces of health-related and genetic data associated with it.