USD 69.5 billion
Biobanking Market Size, Share, Growth Analysis, By Type(Population-based Biobanks, Disease-based Biobanks, Academic Biobanks, Hospital-based Biobanks), By Sample(Blood Products, Cell Lines, Nucleic Acids, Human Tissues), By Application(Drug Discovery, Genomic Research, Personalized Medicine, Regenerative Medicine), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35H2200 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
98
|Figures:
76
Biobanking Market Insights
Global Biobanking Market size was valued at USD 69.5 billion in 2022 and is poised to grow from USD 72 billion in 2023 to USD 95.5 billion by 2031, growing at a CAGR of 6.8% in the forecast period (2024-2031).
Biobanking has grown tremendously over the years and is currently gaining momentum. The combination of advanced technology, data analytics and automation has transformed traditional biobanks into virtual biobanks, creating transformational market potential. Globally, there are many types of biobanks such as, disease-related biobanks, human-based biobanks quantitatively, tissue banks, blood banks which support the market. The spreading degenerative diseases are benefiting immensely from the growth of this market.
The market has grown rapidly in recent years. The integration of advanced technologies into the biobanking process is the main driver for the market. Virtual biobanking is now transforming the biobanking process because it reduces processing time and enables researchers to conduct research more efficiently. Virtual biobanking has helped biobanks generate more revenue, thereby increasing market value and driving market growth. In addition, many software companies are undertaking software developments to facilitate the biobanking process and the adoption of virtual biobanking systems.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Disease-based Biobanks
Fastest Growth
Population-based Biobanks
Growth Rate
6.8% CAGR
Global Biobanking Market ($ Bn)
Country Share for North America Region (%)
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Biobanking Market Segmental Analysis
The global biobanking market is segmented into four major segments i.e. by type of biobank, sample type, application, and region. Based on type, it is divided into population-based biobanks, disease-based biobanks, academic biobanks, hospital-based biobanks, and others. Based on sample type, it is bifurcated as blood products, cell lines, nucleic acids, human tissues, biofluids, and others. Based on application it is segregated into, drug discovery, genomic research, personalized medicine, regenerative medicine, disease research, and others. Based on region, the market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle East & Africa.
Analysis by Service
The biobanking and repository services segment dominated the market and accounted for the largest share of global revenue in 2023. This is due to the high market penetration of this application and the need to preserve biospecimens for precision medicine and development of a particular disease. The segment has been supported by the expansion of biobanking services from academic research to clinical services and government services, as well as highly connected, open services. Biobanks provide access to important biological samples such as blood, tissue, and other biospecimens, which are essential for scientific research. These models enable researchers to study disease pathways, identify biomarkers and develop new treatments. As the demand for new therapies increases, the biobanking market will become important in providing vital resources for ongoing research and development.
The qualification/validation segment is also expected to grow significantly and is expected to account for the second largest revenue share in 2030. Validation services are required prior to the large-scale commencement of equipment delivery new installation, when units are transferred. Certification activities must be designed and conducted to comply with U.S. standards. FDA regulations and quality standards set by governing bodies; biobanks provide services that conform to regulatory requirements. Standard, high-quality services are provided for the collection, processing, storage and transport of samples. Certification services can qualify a shipper, help validate the service, evaluate analytical tools to ensure biological sample integrity is maintained throughout the processes, and facilitate to better manage biological samples.
Analysis by Biobanks Type
The physical/real biobank segment dominated the market in 2023 and accounted for the highest revenue growth. These biobanks have well-established networks, so their revenue share is high. Rapid advances in bioinformatics analytics and precision medicine can drive this change in biobanks operating system. Over the years, large tissue samples collected from pathology labs, clinical trials and research projects contribute to greater participation of tissue banks in the year.
However, the virtual biobanks segment is expected to witness the fastest growth during the forecast period. Virtual biobanks have emerged to address issues related to the availability of biospecimen. For example, tissue solutions (Scotland) and human-centered testing (Little Port) are organizations whose core business activities involve procuring and delivering samples as needed. They provide the ability to manage biospecimen requirements and acquire rare samples discovery is improved by virtual biobanking. Additionally, the availability associated with virtual biobanks helps the sector grow profitably.
Global BiobankingMarket By Type
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Biobanking Market Regional Insights
North America plays an important role in the global biobanking market, driven by advanced healthcare infrastructure, strong research capabilities and an increasing emphasis on innovation in medical research and personalized medicine. North America is hub to many of the world’s leading research institutes, universities, and biopharmaceutical companies. These organizations actively participate in biobanking initiatives to support cutting-edge research in genomics, oncology, and personalized medicine. Collaboration between academic institutions and industry stakeholders supports innovation and accelerates the discovery of new treatments, making this area a hub for biobanking activities.
Asia-Pacific is expected to exhibit the fastest CAGR during the forecast period. The growth can be attributed to investments in developing countries such as India, China and Japan. These countries have been actively engaged in biobanking market development with several business initiatives to strengthen their market position. For example, in November 2023, AIG Hospital launched its first biobank in the southern region of India. The biobank collected more than 100,000 tissue and blood samples over the next decade. Private biobanks in India are spurring biobanking in the country. For example, biobanks such as International Institute for Innovation and Technology Biorepository (i3tBR), JIPMER PBMC Puducherry, MCRI, and National Liver Disease Biobank represent the state-of-the-art biobanks in the country. The Australian Biobank promotes accredited research activities and is funded by the Australian Department of Health. There are also many other biobanks in the country, including the Australian Breast Cancer Tissue Bank, the Department of Human Studies. Additionally, biobank, the country has taken a lot of initiatives to create large scale population-based biobanks.
- Largest
- Fastest
Global Biobanking Market By Region
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Biobanking Market Dynamics
Drivers
Advances In Genomics and Personalized Medicine
- A key driver of the biobanking market is the rapid growth in genomics research and personalized medicine. As the understanding of genetic markers and disease progression increases, the demand for biobanks storing high-quality biosamples for genomic analysis increases. These biosamples are essential for researchers to develop targeted therapies so is personalized medicine, making biobanking central to the future of healthcare.
Growing Demand for Renewable Chemicals
- Another factor is the increasing use of regenerative medicine in which cells and tissues are used to repair or replace damaged body parts. Biobanks play an important role in storing and preserving the cells needed for these therapies. As the field of regenerative medicine expands, the need for well-managed biobanks becomes more important.
Restraints
Ethical and Legal Concerns
- The main mandates in the biobanking market are the ethical and legal issues surrounding the collection, storage and use of biospecimen. Concerns about patient privacy, informed consent, and the possibility of misuse of sensitive information may impede the development of biobanks. These issues present challenges for biobanks to operate within the regulatory framework while being held in confidence by the public.
Increased Costs and Maintenance
- Another mandate is the high cost of establishing and maintaining a biobank. Storage and preservation of biospecimen requires specialized equipment and facilities, such as the cryogenic freezers, temperature control systems, and backup power sources, which contribute to increased the operating costs. For smaller companies, the financial burden can be a major obstacle as it will enable them to enter the biobanking market.
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Biobanking Market Competitive Landscape
The competitive environment of the Biobanking market is dynamic and characterized by the presence of several key players engaging in strategic initiatives to solidify their market position. Established companies often focus on expanding their service offerings, investing in advanced technologies, and forming partnerships with research institutions and pharmaceutical companies. Additionally, mergers and acquisitions play a role in enhancing capabilities and extending geographic reach. The market's dynamism is further fueled by the entry of new players, particularly in emerging regions, contributing to increased competition.
Top Player’s Company Profiles
- AMS Biotechnology (Europe) Ltd.
- Bay Biosciences LLC
- BioIVT & Elevating Science
- Boca Biolistics
- CTI Biotech
- Cureline Inc.
- Firalis SA
- Geneticist Inc.
- Hamilton Bonaduz AG
- Isenet Biobanking
- Merck & Co., Inc.
- ProteoGenex Inc.
- Qiagen NV
- Stemcell Holdings, Inc.
- STEMCELL Technologies Inc.
- Thermo Fisher Scientific Inc.
- US Biolab Corp. Inc.
Recent Developments
- In July 2023, A revised Swedish Biobank Act was implemented, marking a contemporary update to the existing legislation. While maintaining its core objective of regulating the collection, storage, and ethical usage of identifiable human biological material for approved purposes, the new act addresses and clarifies uncertainties present in the original 2003 law. This modernization aims to enhance the understanding and interpretation of the regulations governing biobanking practices in Sweden.
- In June 2023, Denmark, Lithuania, and Switzerland received official confirmation of their membership in the Biobanking and BioMolecular resources Research Infrastructure – European Research Infrastructure Consortium (BBMRI-ERIC). Lithuania and Switzerland transitioned from being Observers to attaining full Membership status, while Denmark has newly joined as an Observer.
Biobanking Key Market Trends
- Integrating Artificial Intelligence (AI) and Big Data Analytics: One of the most important trends in the biobanking market is the integration of artificial intelligence (AI) and big data analytics. This technology helps biobanks optimize specimen tracking, improve data management, and improve the quality of specimen storage. AI-driven analytics enable researchers to identify patterns and insights from large biosample datasets, facilitating the discovery of the new biomarkers and accelerating drug development processes.
- Global Collaboration and Standards: Another trend shaping the biobanking market is the increasing emphasis on globalization and standardization. As biobanks around the world collaborate on research projects, the need for standardized protocols in biosample collection, storage and data sharing is increasing. Global initiatives are paying attention to creating universal biobanking standards to ensure sample quality and reliability, creating a more efficient and connected research ecosystem.
Biobanking Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to SkyQuest analysis, advances inside the genomics and medication personalization, as well as increasing demand for regenerative medicine, drive the biobanking marketplace. However, moral worries and excessive working costs act as main inhibitors. Major trends inclusive of the integration of AI and global standardization are reshaping the biobanking landscape, making it crucial to the scientific research improvement. As those tendencies maintain to evolve, biobanks play a more crucial position in advancing healthcare solutions around the world.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 69.5 billion |
| Market size value in 2031 | USD 95.5 billion |
| Growth Rate | 6.8% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
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| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Biobanking Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Biobanking Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Biobanking Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Biobanking Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Biobanking Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Biobanking Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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