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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
North America Biobanking Market Size
North America biobanking market was valued at USD 1.1 billion in 2023, driven by the rising prevalence of chronic diseases and the growing demand for effective treatments in the region. The market is expected to grow at a CAGR of 6.31% during the forecast period of 2024-2032, with the values likely to rise from USD 1.2 billion in 2024 to USD 2 billion by 2032.
North America Biobanking Market Report Snapshots
North America Biobanking Market Size
North America Biobanking Market Analysis
North America 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 market attained a value of about USD 1.1 billion in 2023 driven by the rising prevalence of chronic diseases and the growing demand for effective treatments in the region.
The market is anticipated to grow at a CAGR of 6.31% during the forecast period of 2024-2032, likely to reach a market value of USD 2 billion by 2032.
The growing demand for precision medicine and the rising funding from the government are fuelling the demand for the market.
One of the significant trends in the market is technological advancements such as the development of computational tools to analyze huge volumes of complex data in biobanks. In December 2023, researchers developed a suite of computational tools that can reconstruct a three-dimensional picture of the brain from brain biobanks, which can help advance the understanding of neurodegenerative diseases.
Based on the equipment, the market is segmented into cryogenic storage systems, and alarm monitoring systems, among others.
Services available in the market include human tissue biobanking, stem cell biobanking, cord banking, and DNA/RNA biobanking, among others.
By biospecimen type, the market is divided into human tissues, human organs, and stem cells, among others.
The market breakup by media includes optimized media and non-optimized media, among others.
End users of the market are hospitals, cosmetology clinics, and ambulatory surgical centers, among others.
Major application areas of biobanking include drug discovery and disease research, among others.
The market segmentation by countries includes the United States of America and Canada.
The key players in the market are Atlanta Biologicals Inc. (Bio-Techne Corporation), Becton, Dickinson and Company, BioLifeSolution Inc., Chart Industries Inc., Hamilton Company, Qiagen NV, Sigma-Aldrich Inc. (Merck KGaA), STEMCELL Technologies Inc., Thermo Fisher Scientific Inc., and VWR International LLC.
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