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The global biobanking market size was valued at USD 72.1 billion in 2023, with Asia Pacific holding a significant market share. The market is driven by the increased investments from both government and private sectors in biobanking. It is expected to grow at a CAGR of 6.89% during the forecast period of 2024-2032, with the values likely to attain USD 131.1 billion by 2032.
The practice of collecting, preserving, and managing biological samples such as blood, DNA, and tissues, among others, is defined as biobanking. The primary purpose of biobanks is to provide a reliable resource for medical research and development. These specialized facilities act as a repository for biological samples often needed for genetic analysis and biomarker discovery, thus supporting the advancement of personalized treatment therapies. The growing emphasis on genetic research and personalized medicine is significantly contributing to the Asia Pacific biobanking market growth.
The rising burden of chronic diseases has a profound influence on market dynamics. Asia Pacific is reported to have a high prevalence of these chronic conditions, with data revealing that 1 in every 4 people in India are at a risk of dying from a noncommunicable disease such as cancer, diabetes, and cardiovascular disease . Since biobanks are a prerequisite for developing new drugs and advanced diagnostic technologies. Consequently, the demand for these repositories is expected to grow with the rise in chronic disease cases.
One of the major Asia Pacific biobanking market trends is the increased investment in infrastructure development and establishment of biobanks. In July 2023, CU Medicine (Faculty of Medicine, The Chinese University of Hong Kong) successfully established the CU-Med Biobank , an internationally accredited biobank, expected to turn Hong Kong into an important biomedical research hub. The biobank is increasingly used for large-scale genomic research and is likely to attract collaborations from leading pharmaceutical companies and research institutes, thereby elevating the market value in the region.
The growing recognition of biobanks as a valuable resource for researchers to study the onset and progression of diseases is boosting the Asia Pacific biobanking market demand. In November 2023, an INR 20 crore state-of-the-art biobank was launched in South India, the third such facility in the region to serve as a repository for collaborative research initiatives to map the prevention and reversal of diseases, among others. The biobank boasts 23 freezers with a capacity to store over 3 lakh samples. Such advanced biobanks are poised to accelerate innovation in the healthcare sector, ultimately propelling market growth in the coming years.
The report offers a detailed analysis of the market based on the following segments:
Market Breakup | Categories |
Product and Service | Equipment, Consumables, Service, Software |
Application | Regenerative Medicine, Life Science Research, Clinical Research |
Sample Type | Blood Tissue, Nucleic Acids, Cell Lines |
End User | Academic Institutions, Pharma and Biotech Companies |
Country | China, Japan, India, ASEAN, Australia, Others |
The key features of the market report include patent analysis, grants analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the market are as follows:
Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2017-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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The Asia Pacific biobanking market is expected to be driven by the rising demand for the global market, which is anticipated to grow at a CAGR of 6.89% during the forecast period of 2024-2032 and is likely to reach a market value of USD 131.1 billion by 2032.
The rising emphasis on the advancement of genetic research and personalized medicine along with increasing medical research expenditure is fuelling the demand for the market.
One of the significant trends in the market is the increased investment in the establishment of biobanks. In July 2023, CU Medicine successfully established the CU-Med Biobank in Hong Kong, which is expected to turn into an important biomedical research hub in the region.
Based on the products and services, the market is segmented into equipment, consumables, services, and software.
By sample type, the market is divided into blood tissue, nucleic acids, and cell lines.
End users of the market are academic institutions, pharma, and biotech companies.
Major application areas include regenerative medicine, life science research, and clinical research.
The market segmentation by countries includes China, Japan, India, ASEAN, and Australia, among others.
The key players in the market are PHC Holdings Corporation, Thermo Fisher Scientific, Inc., Becton, Dickinson and Company, QIAGEN N.V., Merck KGaA, Avantor, Inc., Cryoport, Inc., Tecan Trading AG, Lifecode Technologies Pte Ltd, and China Cord Blood Corporation.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
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