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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
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 Report Snapshots
Middle East and Africa Biobanking Market Size
Middle East and Africa Biobanking Market Analysis
Middle East and Africa Biobanking Companies
*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 Middle East and Africa biobanking market is expected to be driven by the rising demand for the global market, which is anticipated to grow at a CAGR of 6.89% during the forecast period of 2024-2032 and is likely to reach a market value of USD 131.1 billion by 2032.
The rising burden of chronic diseases and the growing demand for precision medicine are fuelling the demand for the market.
One of the significant trends in the market is the rising investments in the establishment of technologically advanced biobanking facilities. In May 2022, the Al Jalila Foundation, in collaboration with other organizations, announced an investment of USD 4.6 million to establish the first robotic biobank in the United Arab Emirates.
Based on the products and services, the market is segmented into equipment, consumables, services, and software.
By sample type, the market is divided into blood tissue, nucleic acids, and cell lines.
End users of the market are academic institutions, pharma, and biotech companies.
Major applications areas include regenerative medicine, life science research, and clinical research.
The market segmentation by countries includes Saudi Arabia, the United Arab Emirates, Nigeria, and South Africa, among others.
The key players in the market are 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, and Azenta, Inc.
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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
+61-448-061-727
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.
+63-287-899-028, +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
+84-865-399-124