The global biobanks industry is witnessing steady growth driven by consumer awareness, technological advancements, cost efficiency, and other drivers. The market study on biobanks presents a comprehensive analysis of different products including Bio Fluids, Human Tissues, Tumor Cells, Stem Cells, DNA/RNA, and others. Further, Applications including Therapeutics, Diagnostics, Research, and Product types including Consumables and Equipment are forecasted to 2030.
Biobanks Market Study Highlights, 2023
Biobanks Market Outlook to 2030
Biobanks Market Overview
Biobanks are one of the fastest-growing markets in the global healthcare industry, with rapid adoption across developing and developed markets. Technological advancements in the industry are encouraging the wide adoption of different equipment, and consumables.
As the field of biobanking continues to evolve from a simple collection of frozen specimens to a virtual biobank, the industry presents significant growth over the forecast period. Biobanks remain major contributors to the advancement of modern medicine and treatment and enable diverse scientific discoveries that improve human health.
There are several types of biobanks. Biobank covers collections of plants and animals, including human specimens. However, the study focuses only on human biobanks, comprising human tissues, organs, stem cells, and other bio-specimens.
The demand for biorepositories that accept, process, store, and distribute bio-specimens and associated data for use in research and clinical care is poised to register a robust growth of 6.6% CAGR over the forecast period from 2021 to 2028.
The market outlook is primarily driven by an increasing volume of large-scale repositories to store phenotypic and genetic information, and the rapid emergence of virtual biobanking systems to assist investigators to locate bio-specimens for testing and data mining from multiple biobanks in dispersed locations.
Companies continue to emphasize standardization, guaranteeing the highest spectral performance, reproducibility, and transferability of routines used. Technological advancements in the fields of Artificial Intelligence, process automation, data analytics, robotics, the Internet of Things, and other rapidly emerging fields support the growth of biobanks worldwide.
Further, trends toward personalized medicines support the demand for high-quality bio-specimens from biobanks. As personalized medicine requires the availability of an extensive collection of samples with well-documented phenotypic data, the demand for biobanking in personalized medicine continues to witness rapid growth. Further, stem cell therapies for genetic conditions augment the market outlook.
Biobanks Market Trend - Stem cells storage in biobanks
The demand for stem cell storage in biobanks is increasing rapidly and is poised to significantly support the market growth over the forecast period. Biobanking can be advantageous to reduce costs, personalize therapies, and reduce patient inconvenience. The stem cell preservation industry has grown substantially with private businesses, public hospitals, and academic medical centers investing significantly in the segment. The importance of stem cells in inmate healing and their use in regenerative medicine is increasing.
Stem cell banking through long-term storage of different stem cell platforms enables preserving the stem cells for patient-specific clinical applications. Stem cell research and clinical translation constitute fundamental and indivisible modules catalyzed through biobanking activity, which enables a significant return on investment. The growing trend of conserving cord blood stem cells of newborns further augments the market demand.
The increased use of stem cells such as cord blood, cord tissue, bone marrow, and adipose tissue methodology storage in biobanks extends significant support for developing novel therapies. Ongoing demand for regenerative medicine and tissue engineering extends significant support in the treatment of currently intractable conditions such as chronic heart failure, stroke, chronic osteoarthritis, and other maladies.
Biobanks Market Opportunities- Robust demand for personalized medicine
Biobanking has been identified as a key area for development to accelerate the discovery and development of new drugs, in particular, in the personalized medicine sector. Biobanks form an integral contributor to personalized medicine, providing support for customized treatment tailored to individual patients.
The personalized medicine market stood at $512 billion and is expected to register over 6.8% CAGR over the forecast period from 2022 to 2030. The potential for personalized medicine to transform clinical practice due to advances in the field, sophisticated diagnostic technologies, improved understanding of disease heterogeneity, acceleration in the fields of data generation, and personalization of the healthcare ecosystem including data, genetics in R&D, and other fields.
Biobanks enable researchers to determine individual tumor biomarkers and to use these biomarkers for disease diagnosis, prognosis, and prediction of response to therapy. Precision medicine research requires access to significant volumes of samples and data relevant to targeted therapies, which can be obtained from different biobanks in different countries. The growing presence of national and international biobank networks will allow biobanks to synergize, thereby extending significant support for the precision medicine field.
Biobanks Market Share Analysis- Bio Fluids hold the dominant market share
Bio-fluids such as blood samples, serum, and urine is among the leading sample types. High use of the samples and ease of access to samples support the market for bio-fluids.
Large-scale biobanking of biofluids for immunology research and testing is observed across markets. In particular, most of the developing countries have bio-fluid collecting biobanks as they are relatively less expensive.
Companies market human biofluids from normal healthy donors, and volunteers, for controls and clinical research.
Most biofluids are stored usually at temperatures less than -20°C and find diverse applications. Accordingly, the demand for bio-fluids is likely to remain robust throughout the forecast period.
Biobanks Market Segmentation
Types
Applications
Products
Companies Profiled in the Research
Regions
1. Executive Summary
1.1 Introduction to Biobanks Markets
1.2 Biobanks Market Size Outlook, 2021- 2030
1.3 Growth Opportunities in Biobanks Industry
1.4 Winning Strategies for the post-pandemic future
2. Report Guide
2.1 Market Definition and Scope
2.2 Market Segmentation
2.3 Research Methodology
2.4 Forecast Methodology
2.5 List of Abbreviations
3. Growth Opportunity Analysis
3.1 Key Biobanks Market Trends
3.1.1 Robust demand for personalized medicine
3.1.2 Increasing funding for biobanks
3.1.3 Stem cells storage in biobanks
3.2 Key Biobanks Market Growth Drivers
3.2.1 Rising Prevalence of Chronic Diseases
3.2.2 Ongoing focus on emerging countries
3.2.3 Increasing Geriatric population and growing healthcare expenditures
3.3 Key Biobanks Market Growth Restraints
3.3.1 Ethical Issues and Safety Concerns
3.3.2 Limited skilled professionals observed in developing countries
4 Biobanks Market Outlook – Scenario Analysis
4.1 Low Growth Case Scenario Forecasts: Biobanks Market Size Outlook to 2030
4.2 Reference Growth Case Scenario Forecasts: Biobanks Market Size Outlook to 2030
4.3 High Growth Case Scenario Forecasts: Biobanks Market Size Outlook to 2030
5. Biobanks Market Segmentation- Outlook by Type
5.1 Biobanks Market Share Analysis by Type, 2023
5.2 Bio Fluids Market Outlook to 2030
5.3 Human Tissues and Tumor Cells Market Outlook to 2030
5.4 Stem Cells Market Outlook to 2030
5.5 DNA/RNA Market Outlook to 2030
5.6 Others Market Outlook to 2030
6. Biobanks Market Segmentation- Outlook by Application
6.1 Biobanks Market Share Analysis by Application, 2023
6.2 Therapeutics: Biobanks Market Outlook to 2030
6.3 Diagnostics: Biobanks Market Outlook to 2030
6.4 Research: Biobanks Market Outlook to 2030
7. Biobanks Market Segmentation- Outlook by Product
7.1 Biobanks Market Share Analysis by Product, 2023
7.2: Consumables: Biobanks Market Outlook to 2030
7.3 Equipment: Biobanks Market Outlook to 2030
8. North America Biobanks Market Outlook and Opportunities to 2030
8.1 Market Snapshot, 2023
8.2 North America Biobanks Market Growth Opportunities
8.2.1 North America Biobanks Market Outlook by Type, 2021 to 2030
8.2.2 North America Biobanks Market Outlook by Application, 2021 to 2030
8.2.3 North America Biobanks Market Outlook by Country, 2021 to 2030
8.3 United States Biobanks Market Outlook, 2021 to 2030
8.4 Canada Biobanks Market Outlook, 2021 to 2030
8.5 Mexico Biobanks Market Outlook, 2021 to 2030
9. Europe Biobanks Market Outlook and Opportunities to 2030
9.1 Market Snapshot, 2023
9.2 Europe Biobanks Market Growth Opportunities
9.2.1 Europe Biobanks Market Outlook by Type, 2021 to 2030
9.2.2 Europe Biobanks Market Outlook by Application, 2021 to 2030
9.2.3 Europe Biobanks Market Outlook by Country, 2021 to 2030
9.3 Germany Biobanks Market Outlook, 2021 to 2030
9.4 France Biobanks Market Outlook, 2021 to 2030
9.5 United Kingdom Biobanks Market Outlook, 2021 to 2030
9.6 Spain Biobanks Market Outlook, 2021 to 2030
9.7 Italy Biobanks Market Outlook, 2021 to 2030
9.8 Other Europe Biobanks Market Outlook, 2021 to 2030
10. Asia Pacific Biobanks Market Outlook and Opportunities to 2030
10.1 Market Snapshot, 2023
10.2 Asia Pacific Biobanks Market Growth Opportunities
10.2.1 Asia Pacific Biobanks Market Outlook by Type, 2021 to 2030
10.2.2 Asia Pacific Biobanks Market Outlook by Application, 2021 to 2030
10.2.3 Asia Pacific Biobanks Market Outlook by Country, 2021 to 2030
10.3 China Biobanks Market Outlook, 2021 to 2030
10.4 Japan Biobanks Market Outlook, 2021 to 2030
10.5 India Biobanks Market Outlook, 2021 to 2030
10.6 South Korea Biobanks Market Outlook, 2021 to 2030
10.7 Indonesia Biobanks Market Outlook, 2021 to 2030
10.8 Other Asia Pacific Biobanks Market Outlook, 2021 to 2030
11. South and Central America Biobanks Market Outlook and Opportunities to 2030
11.1 Market Snapshot, 2023
11.2 South and Central America Biobanks Market Growth Opportunities
11.2.1 South and Central America Biobanks Market Outlook by Type, 2021 to 2030
11.2.2 South and Central America Biobanks Market Outlook by Application, 2021 to 2030
11.2.3 South and Central America Biobanks Market Outlook by Country, 2021 to 2030
11.3 Brazil Biobanks Market Outlook, 2021 to 2030
11.4 Argentina Biobanks Market Outlook, 2021 to 2030
11.5 Other Latin America Biobanks Market Outlook, 2021 to 2030
12. Middle East and Africa Biobanks Market Outlook and Opportunities to 2030
12.1 Market Snapshot, 2023
12.2 Middle East and Africa Biobanks Market Growth Opportunities
12.2.1 Middle East and Africa Biobanks Market Outlook by Type, 2021 to 2030
12.2.2 Middle East and Africa Biobanks Market Outlook by Application, 2021 to 2030
12.2.3 Middle East and Africa Biobanks Market Outlook by Country, 2021 to 2030
12.3 Saudi Arabia Biobanks Market Outlook, 2021 to 2030
12.4 United Arab Emirates (the UAE) Biobanks Market Outlook, 2021 to 2030
12.5 Other Middle East Biobanks Market Outlook, 2021 to 2030
12.6 Egypt Biobanks Market Outlook, 2021 to 2030
12.7 South Africa Biobanks Market Outlook, 2021 to 2030
12.8 Other Africa Biobanks Market Outlook, 2021 to 2030
13. Profiles of major world Biobanks Companies
13.1 Thermo Fisher Scientific, Inc.
- Key Statistics
- Business Operations
- Products and Services Offered
- SWOT Analysis
- Financial Profile
13.2 Qiagen NV
- Key Statistics
- Business Operations
- Products and Services Offered
- SWOT Analysis
- Financial Profile
13.3 Avantor, Inc.
- Key Statistics
- Business Operations
- Products and Services Offered
- SWOT Analysis
- Financial Profile
13.4 Biolife Solutions, Inc.
- Key Statistics
- Business Operations
- Products and Services Offered
- SWOT Analysis
- Financial Profile
13.5 Taylor-Wharton
- Key Statistics
- Business Operations
- Products and Services Offered
- SWOT Analysis
- Financial Profile
13.6 Merck KgaA
- Key Statistics
- Business Operations
- Products and Services Offered
- SWOT Analysis
- Financial Profile
13.7 Tecan Trading AG.
- Key Statistics
- Business Operations
- Products and Services Offered
- SWOT Analysis
- Financial Profile
13.8 Danaher Corporation
- Key Statistics
- Business Operations
- Products and Services Offered
- SWOT Analysis
- Financial Profile
- Financial Profile
13.9 Becton, Dickinson, and Company
- Key Statistics
- Business Operations
- Products and Services Offered
- SWOT Analysis
- Financial Profile
- Financial Profile
13.10 Hamilton Company
- Key Statistics
- Business Operations
- Products and Services Offered
- SWOT Analysis
- Financial Profile
- Financial Profile
14. Appendix
14.1 Publisher’s Expertise
14.2 List of Tables and Charts
14.3 List of Exhibits
14.4 Legal Disclaimer
Robust demand for personalized medicine; Increasing funding for biobanks; Stem cells storage in biobanks; Rising Prevalence of Chronic Diseases; Ongoing focus on emerging countries; Increasing Geriatric population and growing healthcare expenditures
The global Biobanks Market Size stood at US$ 70.3 billion in 2022
The global Biobanks Market Size is poised to register 6.8% growth over the forecast period from 2023 to 2030
Thermo Fisher Scientific, Inc., Qiagen NV, Avantor Inc, Biolife Solutions Inc., BioCision, Taylor-Wharton, Hamilton Company, Merck KgaA, Tecan Trading AG, Danaher Corporation, Becton, Dickinson, and Company
Bio-fluids offer significant growth potential for companies providing Biobank services.