Middle East and Africa Biobanking Market Report and Forecast 2024-2032

Middle East and Africa Biobanking Market Size

The global biobanking market was valued at USD 72.1 billion in 2023, with the Middle East and Africa holding a significant market share. The market is driven by the growing prevalence of chronic diseases and the rising advancements in biobanking technologies. 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.

Middle East and Africa Biobanking Market Outlook

• Biomedical research, which facilitates the development of new and effective treatments, is required to tackle the rising burden of chronic diseases in the region. The growing emphasis on biomedical research activities is expected to drive market demand.

• One of the major Middle East and Africa biobanking market trends is the rising investments in the establishment of technologically advanced biobanking facilities. In May 2022, the Al Jalila Foundation announced an investment of USD 4.6 million to establish the first robotic biobank in the United Arab Emirates, in collaboration with other organizations to advance medical research.

• The market share is also influenced by the increasing focus on the development of personalized medicine. In September 2023, it was reported that Abu Dhabi is set to launch a biobank for human stem cells and tissues with the aim of boosting personalized medical research.

Middle East and Africa Biobanking Market Analysis

Biobanking involves the process of collecting, processing, and storing biological samples such as blood, tissue, and DNA. It offers essential resources for medical researchers to study disease mechanisms and individual responses to treatments and thus, is crucial for the development of personalized medicine. Biobanks in the Middle East and Africa region are increasingly contributing to the diversification of genetic and health data, which has been heavily skewed towards Western populations, thereby supporting the advancement of the global biobanking market . Further, the rise in the prevalence of chronic diseases like cancer, diabetes, and cardiovascular conditions which requires extensive biomedical research to develop effective treatments is expected to propel the Middle East and Africa biobanking market growth in the forecast period.

One of the major market trends is the rising investments in the establishment of advanced biobanking facilities to accelerate medical discoveries. For instance, in May 2022, the Al Jalila Foundation (a member of the Mohammed Bin Rashid Al Maktoum Global Initiatives) announced that it would establish the first robotic biobank in the United Arab Emirates, in collaboration with the Dubai Health Authority (DHA) and the Mohammed Bin Rashid University of Medicine and Health Sciences (MBRU) to drive medical research in the areas of genetic disorders, chronic diseases and pandemics. Scheduled to be open in 2024, the foundation has invested USD 4.6 million in building the biobank that manages seven million human biological samples and uses an automated, robotic, artificial Intelligence-based system to secure the samples in cryogenic storage. Such substantial investments in technological improvement in biobanking practices are likely to elevate the Middle East and Africa biobanking market value.

The market share is also influenced by the growing impetus for the development of personalized medicine. In September 2023, it was reported that Abu Dhabi is set to launch a biobank for human stem cells and tissues with the aim of boosting personalized medical research. This proposed project, presented by the Department of Health – Abu Dhabi and approved by the Crown Prince of Abu Dhabi, is poised to support research that will leverage advanced technology and scientific methods to advance the treatment of over 80 diseases, including cancer and blood disorders. The increased government initiatives aimed at enhancing healthcare outcomes are anticipated to bolster market share of biobanking in coming years.

Middle East and Africa Biobanking Market Segmentation

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

Leading Players in the Middle East and Africa Biobanking Market

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:

• 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

• Azenta, Inc.

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

Middle East and Africa Biobanking Market Report Snapshots

Middle East and Africa Biobanking Market Size

Middle East and Africa Biobanking Market Analysis

Middle East and Africa Biobanking Companies