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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
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 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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