Biobanking Market is Fueling the Next Medical Breakthrough with Genetic Storage

Biobanking has grown tremendously over the years and is currently gaining momentum. The combination of advanced technology, data analytics and automation has transformed traditional biobanks into virtual biobanks, creating transformational Biobanking Market potential. Globally, there are many types of biobanks such as, disease-related biobanks, human-based biobanks quantitatively, tissue banks, blood banks which support the market. The spreading degenerative diseases are benefiting immensely from the growth of this market.

Biobanking Market size was valued at USD 72.0 billion in 2023 and is poised to grow from USD 76.9 billion in 2024 to USD 130.16 billion by 2032, growing at a CAGR of 6.8% during the forecast period (2025-2032).

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The Biobanking Market has grown rapidly in recent years. The integration of advanced technologies into the biobanking process is the main driver for the market. Virtual biobanking is now transforming the biobanking process because it reduces processing time and enables researchers to conduct research more efficiently. Virtual biobanking has helped biobanks generate more revenue, thereby increasing market value and driving Biobanking Market growth. In addition, many software companies are undertaking software developments to facilitate the biobanking process and the adoption of virtual biobanking systems.

Biobanking Market Segments Analysis:

Global Biobanking Market is segmented by Product &Service, Biobanks Type, Sample Type, Storage Type, Ownership, Application, End user and region.

Based on Product &Service, the market is segmented into Equipment, Consumables, Services and Software.
Based on Biobanks Type, the market is segmented into Physical/Real Biobanks, Tissue Biobanks, Population Based Biobanks, Genetic (DNA/RNA), Disease Based Biobanks and Virtual Biobanks.
Based on Sample Type, the market is segmented into Blood Products, Human Tissues, Cell Lines, Nucleic Acids, Biological Fluids and Human Waste Products.
Based on Storage Type, the market is segmented into Manual Storage and Automated Storage.
Based on Ownership, the market is segmented into Universities, National/Regional Agencies, Non-Profit Organizations and Private Organizations.
Based on Application, the market is segmented into Regenerative Medicine, Life Science Research and Clinical Research.
Based on End user, the market is segmented into Pharmaceutical, Biotechnology Companies and CROs, Academic, Research Institutes and Hospitals.
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.

Biobanking Market Key Players:

Thermo Fisher Scientific Inc. (United States)
Merck KGaA (Germany)
QIAGEN N.V. (Netherlands)
Hamilton Company (United States)
Tecan Trading AG (Switzerland)
Becton, Dickinson and Company (BD) (United States)
Lonza Group AG (Switzerland)
Charles River Laboratories International, Inc. (United States)
BioLife Solutions, Inc. (United States)
Brooks Automation, Inc. (United States)
Greiner Bio-One International GmbH (Austria)
STEMCELL Technologies Inc. (Canada)
Chart Industries, Inc. (United States)
BioIVT (United States)
Firalis S.A. (France)
Celltex Therapeutics Corporation (United States)
Sigma-Aldrich Corporation (United States)
Hope Biosciences (United States)
54Gene (Nigeria)

Recent Developments:

In July 2023, A revised Swedish Biobank Act was implemented, marking a contemporary update to the existing legislation. While maintaining its core objective of regulating the collection, storage, and ethical usage of identifiable human biological material for approved purposes, the new act addresses and clarifies uncertainties present in the original 2003 law. This modernization aims to enhance the understanding and interpretation of the regulations governing biobanking practices in Sweden.

In June 2023, Denmark, Lithuania, and Switzerland received official confirmation of their membership in the Biobanking and BioMolecular resources Research Infrastructure - European Research Infrastructure Consortium (BBMRI-ERIC). Lithuania and Switzerland transitioned from being Observers to attaining full Membership status, while Denmark has newly joined as an Observer.

Biobanking Key Market Trends:

Integrating Artificial Intelligence (AI) and Big Data Analytics: One of the most important trends in the biobanking market is the integration of artificial intelligence (AI) and big data analytics. This technology helps biobanks optimize specimen tracking, improve data management, and improve the quality of specimen storage. AI-driven analytics enable researchers to identify patterns and insights from large biosample datasets, facilitating the discovery of the new biomarkers and accelerating drug development processes.

Global Collaboration and Standards: Another trend shaping the biobanking market is the increasing emphasis on globalization and standardization. As biobanks around the world collaborate on research projects, the need for standardized protocols in biosample collection, storage and data sharing is increasing. Global initiatives are paying attention to creating universal biobanking standards to ensure sample quality and reliability, creating a more efficient and connected research ecosystem.

What's more, it likewise covers the request and give of the promoting research concentrate in the assessed figure time frame. Explained investigation of the market players with their profile, deals examination and serious scene is given in the report. Besides, organization, joint effort and consolidations in the business are referenced for the accommodation of the investigation of the global Biobanking industry.

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Looking ahead, the Biobanking Market is poised for continued growth, driven by evolving consumer preferences and ongoing innovations. The trend towards sustainability is expected to strengthen, with more consumers seeking products that align with their values. Additionally, the integration of advanced technologies and digital platforms will likely further enhance market accessibility and consumer engagement. The global Biobanking Market is a dynamic and evolving landscape, shaped by a confluence of trends and factors.

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