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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Biobanking Market Trends
| 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. |
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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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