Biobanking Market Size, Growth, Share, Industry Analysis Report 2025

The Global biobanking market size was valued at USD 47,062 Million in 2017, and is estimated to reach USD 68,084 Million by 2025, with a CAGR of 4.6% from 2018 to 2025.

Biobanking is a procedure to collect and preserve biological materials that can be further used for diagnosis, biodiversity studies, and research. The major factors that drive the growth of the global biobanking market include rise in funding support by private & government organizations. Furthermore, increased incidence of chronic disease further propel the market growth. However, ethical and legal issues related to biobanking restrict the market growth.

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Rise in funding by private & government organizations for biobanking and increase in application areas of biobanked samples are the major factors that drive the growth of the global biobanking market. Moreover, upsurge in incidence of diseases such as cancer supports the market growth, owing to the fact that biobanked specimens are used in the treatment of several chronic diseases. However, ethical issues related to biobanking and lack of awareness about it are expected to impede the market growth. On the contrary, advancements in stem cell research and unmet medical needs in the emerging nations are anticipated to provide lucrative opportunity for the market expansion.

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High incidence of chronic conditions

Several chronic diseases such as cancer, cardiovascular diseases, neurological disorders, and immunological disorders cannot be treated using conventional therapies, as they lead to harmful side effects. The risk of these side effects could be reduced by integrating it with stem cell therapy, which acts as a healing agent to reduce the damage caused by treatment doses. As per the statistics by the National Cancer Institute, around 14.5 million people are suffering from cancer in the U.S., and this number is expected to increase to 19 million in 2024. This is expected to increase the need of cord blood for therapeutic purposes, and thus fuel the global biobanking market growth.

Increased funding support for biobanks

The samples from biobanks are used for various purposes such as research, therapeutics, clinical trials, and drug development. This has led to increase in funding by many non-profit and government organizations for the establishment of more public storage banks. For instance, more than 200 clinical trials are funded by the National Institutes of Health and are being carried out in the U.S. alone. In addition, in October 2017, National Institutes of Health granted $2.1 million to the UK ME/CFS Biobank, which represents a huge investment in biomedical research. Thus, rise in funds for biobanks is expected to fuel the biobanking market size.

By Specimen Type

o Blood products
o Solid tissue
o Cell lines
o Others

By Application

o Therapeutic
o Research

By Type of Biobank

o Population-based biobanks
o Disease-oriented biobanks

By Ownership

o National/regional agencies
o Nonprofit organization
o University
o Private

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