Global Biobanking Market Forecast 2022-2031 - Market Size, Drivers, Trends, And Competitors

Biobanking, the practice of storing biological samples for research purposes, has gained significant traction in recent years. The global biobanking market is poised for substantial growth from 2022 to 2031, driven by the increasing demand for personalized medicine, advancements in biobanking technologies, and growing investments in research and development.

The biobanking market encompasses the storage and management of biological samples, including blood, tissues, cells, and DNA, for use in medical and research applications. Biobanks play a crucial role in supporting various research areas, such as genomics, proteomics, and drug discovery.

Market Size and Growth

The global biobanking market was valued at US$ 50.1 Bn in 2021 and is projected to reach US$ 87.4 Bn by 2031, growing at a CAGR of 5.9% during the forecast period. This growth can be attributed to the increasing prevalence of chronic diseases, rising adoption of precision medicine, and the growing awareness regarding the importance of preserving biological samples for future research.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐟𝐨𝐫 𝐚 𝐬𝐚𝐦𝐩𝐥𝐞 𝐨𝐟 𝐭𝐡𝐢𝐬 𝐫𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐫𝐞𝐩𝐨𝐫𝐭 𝐚𝐭 (𝐔𝐬𝐞 𝐂𝐨𝐫𝐩𝐨𝐫𝐚𝐭𝐞 𝐌𝐚𝐢𝐥 𝐈𝐝 𝐟𝐨𝐫 𝐐𝐮𝐢𝐜𝐤 𝐑𝐞𝐬𝐩𝐨𝐧𝐬𝐞) -https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=1568&utm_source=OpenPR_Sudha&utm_campaign=OpenPR

Market Segmentation

By Service Type: The biobanking market can be segmented into sample storage, sample processing, sample management, and others.
By Sourcing Type: Based on sourcing type, the market can be segmented into voluntary donation, involuntary donation, and others.
By Application: The market can be segmented into drug discovery, regenerative medicine, and others.
By Industry Vertical: Biobanking services find applications in pharmaceuticals, academic research institutes, and others.
By Region: The market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.

Regional Analysis

North America: The largest market for biobanking, driven by the presence of leading biobanks, increasing research activities, and favorable government initiatives.
Europe: A significant market share, attributed to the growing prevalence of chronic diseases and the presence of well-established healthcare infrastructure.
Asia-Pacific: Witnessing rapid growth, fueled by increasing investments in healthcare infrastructure, rising awareness about personalized medicine, and government initiatives to promote biobanking.

𝐆𝐞𝐭 𝐂𝐮𝐬𝐭𝐨𝐦𝐢𝐳𝐚𝐭𝐢𝐨𝐧 𝐨𝐧 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭 𝐟𝐨𝐫 𝐒𝐩𝐞𝐜𝐢𝐟𝐢𝐜 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐒𝐨𝐥𝐮𝐭𝐢𝐨𝐧𝐬: https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=1568&utm_source=OpenPR_Sudha&utm_campaign=OpenPR

Market Drivers and Challenges
Drivers: Increasing prevalence of chronic diseases, growing adoption of personalized medicine, advancements in biobanking technologies.
Challenges: Regulatory challenges, ethical concerns regarding sample collection and storage, and the high cost of setting up and maintaining biobanks.

Market Trends

Automation: Increasing adoption of automated storage and retrieval systems to improve operational efficiency.
Collaborations and Partnerships: Biobanks are increasingly collaborating with pharmaceutical companies and research institutions to enhance sample collection and storage capabilities.
Data Integration: Integration of biobanking data with electronic health records (EHRs) to facilitate data analysis and research.

Competitive Landscape

The global biobanking market is highly competitive, with key players focusing on strategic initiatives such as mergers and acquisitions, product launches, and partnerships to gain a competitive edge. Some of the key players in the market include Thermo Fisher Scientific Inc., VWR International LLC, and Hamilton Company.

𝐇𝐚𝐯𝐞 𝐀𝐧𝐲 𝐐𝐮𝐞𝐫𝐲? 𝐀𝐬𝐤 𝐓𝐨 𝐀𝐧𝐚𝐥𝐲𝐬𝐭: https://www.transparencymarketresearch.com/sample/sample.php?flag=ASK&rep_id=1568&utm_source=OpenPR_Sudha&utm_campaign=OpenPR

Future Outlook
The biobanking market is expected to witness significant growth in the coming years, driven by the increasing demand for personalized medicine and the growing focus on research and development activities. However, regulatory challenges and ethical concerns regarding sample collection and storage are likely to hinder market growth to some extent.

Key Market Study Points

The market size and growth rate of the biobanking market from 2022 to 2031.
Key drivers, challenges, and trends influencing the market.
Market segmentation based on service type, sourcing type, application, industry vertical, and region.
Regional analysis of the biobanking market, including the market size and growth rate in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
Competitive landscape, including the market share and strategies of key players.
Future outlook for the biobanking market, including growth prospects and emerging trends.

𝐌𝐨𝐫𝐞 𝐓𝐫𝐞𝐧𝐝𝐢𝐧𝐠 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 𝐛𝐲 𝐓𝐫𝐚𝐧𝐬𝐩𝐚𝐫𝐞𝐧𝐜𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 -

Biobanking Market -https://www.globenewswire.com/news-release/2023/04/26/2655340/0/en/Biobanking-Market-Size-to-Exhibit-USD-87-4-Bn-by-2031-owing-to-the-Increasing-Investments-in-Biobanking-Infrastructure-TMR-Study.html

Clinical Laboratory Services Market - https://www.globenewswire.com/news-release/2023/04/25/2654412/0/en/Clinical-Laboratory-Services-Market-to-Surpass-USD-561-1-Bn-by-2031-Owing-to-Increase-in-Demand-for-Early-Diagnosis-and-Technological-Innovations-in-Pathology-Transparency-Market-R.html

𝐀𝐛𝐨𝐮𝐭 𝐔𝐬 𝐓𝐫𝐚𝐧𝐬𝐩𝐚𝐫𝐞𝐧𝐜𝐲 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡

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𝐂𝐨𝐧𝐭𝐚𝐜𝐭 𝐔𝐬

Nikhil Sawlani
Transparency Market Research Inc.
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This release was published on openPR.