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The global biobanking market size was valued at USD 72.1 billion in 2023, driven by the increased genomic research activities aimed at discovering innovative therapeutic interventions across the globe. The market is expected to grow at a CAGR of 6.89% during the forecast period of 2024-2032, with the values likely to rise from USD 76.9 billion in 2024 to USD 131.1 billion by 2032.
Biobanks form an essential resource in medical research. They are a type of biorepository to store and manage biological samples. With the growing interest and research on genomics and personalized medicine, the market for biobanks is expected to witness a surge.
The substantial financial support from both private and government sectors is aiding in improving the infrastructure and database capabilities of biobanks. In October 2023 , the United Kingdom Biobank received EUR 16 million, along with another EUR 25 million contribution from the government, to secure a total funding of around EUR 50 million. These investments will aid in the expansion of the biobank’s health data, accelerating research and enabling technological advancements such as the integration of artificial intelligence (AI) to analyze data efficiently. Such financial contributions from public and private organizations will facilitate the biobanking market growth in the forecast period.
The market is also driven by the expansion of the biotechnology sector and the rise in healthcare expenditure to improve patient outcomes. Further, the demand for biobanks is propelled by the rise in the prevalence of chronic diseases and the need for effective treatments.
| Key Trends | Description |
| Increasing Adoption of Precision Medicine | The market is witnessing a surge in the adoption of precision medicine approaches, where genetic and molecular information is utilized to customize medical treatments for individual patients. This trend drives the need for biobanking solutions capable to store and manage diverse biological samples. |
| Emphasis on Data Integration and Standardization | With the growing volume and complexity of biological and clinical data, there is an increased emphasis on data integration and standardization within biobanking operations. This ensures data quality and interoperability. |
| Expansion of Disease-specific Biobanks | There is a significant expansion in the establishment of disease-specific biobanks focused on collecting samples from individuals afflicted with certain diseases. These specialized biobanks enable targeted research into disease mechanisms, biomarker discovery, and the development of personalized therapies. |
| Integration of Advanced Technologies | Advanced technologies such as automation, robotics, and artificial intelligence (AI) are increasingly being integrated into biobanking workflows to enhance efficiency, accuracy, and scalability. |
Market Breakup by Material
The biobanking market report includes a breakup based on materials as well. It includes population-based biobanks, disease-based biobanks, academic biobanks, hospital-based biobanks, and commercial biobanks. These biobanks serve different purposes such as population-based biobanks collect samples from large groups of individuals for epidemiological and population studies.
Market Breakup by Sample Type
By sample type, the market is divided into blood products, human tissues, nucleic acids, cell lines, biological fluids, and others. This market segment reveals the range of materials stored in biobanks for research and clinical applications.
Market Breakup by Application
Applications of the market include drug discovery and development, personalized medicine, regenerative medicine, clinical research, forensics, and others. The increased application of biobanks across various sectors has fuelled the biobanking market demand.
Market Breakup by Ownership
The market breakup by ownership in the global biobanking market includes public biobanks, private biobanks, and hybrid biobanks. Public biobanks are operated and funded by governmental or non-profit organizations whereas private biobanks are owned and operated by commercial organizations or individuals. Hybrid biobanks have both public and private ownership structures to collect and manage samples for various purposes.
Market Breakup by Source
The market segmentation by source includes human biobanks, animal biobanks, and plant biobanks. This segmentation provides the range of sources utilized in biobanking across different scientific domains.
Market Breakup by End User
By the end user, the biobanking market share includes biopharmaceutical companies, research and academic institutes, hospitals, contract research organizations (CROs), and others. Biopharmaceutical companies cover a significant portion of the market segment by utilizing biobank samples for drug discovery, development, and clinical trials.
Market Breakup by Region
The market report will cover the leading regional markets such as North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. North America holds a high market value, driven by intensive research initiatives, and robust regulatory frameworks. The regional market also has a strong presence of academic and research institutions as well as leading biopharmaceutical companies to support biobanking initiatives.
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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| Breakup by Material |
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| Breakup by Sample Type |
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| Breakup by Application |
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| Breakup by Ownership |
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| Breakup by Source |
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| Breakup by End User |
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| Breakup by Region |
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| Market Dynamics |
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| Supplier Landscape |
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| Companies Covered |
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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 market attained a value of about USD 72.1 billion in 2023 driven by the increased genomic research activities aimed at discovering innovative therapeutic interventions across the globe.
The market is anticipated to grow at a CAGR of 6.89% during the forecast period of 2024-2032, likely to reach a market value of USD 131.1 billion by 2032.
Advancements in biobank data analysis such as the integration of artificial intelligence and machine learning are fuelling the market demand.
One of the significant trends in the market are the rising financial support from both private and government sectors to improve the infrastructure and database capabilities of biobanks. In October 2023, the United Kingdom Biobank received EUR 16 million, coupled with another EUR 25 million contribution from the government. These investments are expected to aid the expansion of biobank’s health data and accelerate research.
Based on the material, the market is segmented into population-based biobanks, disease-based biobanks, academic biobanks, hospital-based biobanks, and commercial biobanks.
By sample type, the market is divided into blood products, human tissues, nucleic acids, cell lines, biological fluids, and others.
The market breakup by ownership in the global biobanking market includes public biobanks, private biobanks, and hybrid biobanks.
The market segmentation by source includes human biobanks, animal biobanks, and plant biobanks.
Major end users of the market include biopharmaceutical companies, research and academic institutes, hospitals, contract research organizations (CROs), and others.
Applications of the market include drug discovery and development, personalized medicine, regenerative medicine, clinical research, forensics, and others.
The major regions of the market include North America, Europe, Asia Pacific, Latin America, Middle East, and Africa.
Key players involved in the market are Thermo Fisher Scientific Inc., Brooks Automation, Inc., Qiagen N.V., Tecan Group Ltd., Hamilton Company, Chart Industries, Inc., PHC Holdings Corporation, Becton, Dickinson and Company (BD), Merck KGaA, Panasonic Healthcare Holdings Co., Ltd., STEMCELL Technologies Inc., Lifenet Health, Promega Corporation, Greiner Bio-One International GmbH, and Lonza Group AG.
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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 06 17 27
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 287899028, +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
+84865399124
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