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

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.