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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Biobanking Market Outlook
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.
Biobanking Market Report Snapshots
*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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Key Questions Answered in the Report
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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