Europe Biobanking Market Report and Forecast 2024-2032

Europe Biobanking Market Outlook

The global biobanking market size was valued at USD 72.1 billion in 2023, with Europe holding a significant market share. The market is driven by increasing investment in biomedical research. 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.

Key Takeaways

• Major funding initiatives are pivotal in establishing and expanding the biobank resources and are likely to boost the market share. In May 2023, the United Kingdom Biobank was reported to receive EUR 127.6 million in funding from the UK Research and Innovation (UKRI) to support its move to a new facility at Bruntwood SciTech’s Manchester Science Park.

• One of the significant Europe biobanking market trends is the rise in workflow automation in biobanking procedures to increase throughput as well as enable sample tracking and error reduction. For instance, in February 2023, a team of German researchers employed a robotic system to automate the isolation of peripheral blood mononuclear cells (PBMC) for biobanking samples.

• The International Agency for Research on Cancer (IARC) stated that the number of new cancer cases is projected to rise by 22.5% over the next two decades in Europe. Since biobanks play a crucial role in supporting research aimed at developing innovative treatments, the market size is likely to increase in the coming years.

Europe Biobanking Market Analysis

A biobank can be defined as a repository that collects, processes, stores, and distributes biological materials such as tissues, blood, and DNA, among others. In Europe, these biological samples and associated health data are increasingly utilized for medical research and diagnostic purposes. With the rising emphasis on translating scientific research into clinical applications coupled with the growing impetus towards the development of personalized medicine, the Europe biobanking market demand is expected to witness a surge in the forecast period.

The market is greatly influenced by substantial investments from government bodies and private organizations across Europe. In May 2023, the United Kingdom Biobank (large-scale biomedical database) was reported to receive EUR 127.6 million in funding from the national funding agency UK Research and Innovation (UKRI) to support its move to a new facility at Bruntwood SciTech’s Manchester Science Park. With improved technologies and capacity at the purpose-built facility, the UK Biobank is expected to drive innovation in healthcare research and open new opportunities for collaboration. Such major funding initiatives are pivotal in establishing and expanding the biobank resources and are likely to boost the Europe biobanking market growth.

One of the significant market trends is the rise in workflow automation in biobanking to increase output as well as offer sample tracking and error reduction. For instance, in February 2023, a team of German researchers employed a robotic system to automate the isolation of peripheral blood mononuclear cells (PBMC) for biobanking samples. The novel robotic system exhibited equivalent cell yield, composition, and viability, as compared to manual processing, revealing its potential as a robust tool for collecting high-quality clinical samples for biobanking in the hematology and immunology field. The integration of such technologies in the biobanking procedures is likely to ensure high-quality samples and data, thereby elevating the Europe biobanking market share.

The market is also influenced by the increasing prevalence of chronic diseases such as cancer, diabetes, and cardiovascular diseases, among others, in the region. According to the International Agency for Research on Cancer (IARC), the number of new cancer cases is projected to rise by 22.5% over the next two decades in Europe.  As biobanks play a vital role in supporting research aimed at understanding the cause of disease and developing innovative treatments, the market value is likely to increase in the coming years.

Europe Biobanking Market Segmentation

The report offers a detailed analysis of the market based on the following segments:

Europe Biobanking Market: Competitor Landscape

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:

• QIAGEN N.V.

• Merck KGaA

• Tecan Trading AG

• Greiner Holding AG

• Micronic

• BioKryo

• SPT Labtech

• ASKION GmbH

• Cell&Co BioServices

• CTIBiotech

Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

Key Highlights of the Report

Europe Biobanking Market Report Snapshots

Europe Biobanking Market Size

Europe Biobanking Market Analysis

Europe Biobanking Companies