Press release
Biobanking Market to Hit USD 140.38 Bn by 2034?
The biobanking market plays a vital role in the healthcare and life sciences industry by providing essential biological samples for medical research, drug discovery, and personalized medicine. Biobanks store and manage human, animal, or plant biological materials like blood, tissues, DNA, and cells. They ensure that high-quality samples are preserved under strict standards for future use in various applications such as regenerative medicine, clinical research, and forensics. With continuous advancements in biotechnology and increased awareness about personalized healthcare, the demand for efficient biobanking systems continues to surge globally, driving the expansion of this crucial market.
Biobanking Market Size
The biobanking market reached a substantial size of USD 72.10 Billion in 2024, showcasing its expanding significance in the global healthcare and research ecosystem. Biobanks have become instrumental in storing and supplying high-quality biospecimens to support breakthroughs in medicine and science. This strong market base reflects growing investments by pharmaceutical companies, research organizations, and academic institutions. With the increasing adoption of precision medicine and the surge in chronic diseases worldwide, the market size is anticipated to grow robustly. The biobanking sector's vast size underscores its indispensable role in the development of innovative therapies and advanced diagnostics, transforming how diseases are treated and prevented.
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Biobanking Market Trends
Several transformative trends are shaping the future of the biobanking market. One of the prominent trends is the integration of advanced automation and artificial intelligence to streamline sample storage and retrieval processes. Automation minimizes human error and ensures sample integrity, while AI facilitates efficient data management and analysis. Another trend gaining traction is the shift toward population-based biobanks to enable large-scale epidemiological studies and personalized medicine. The increasing focus on ethical biobanking practices, data privacy, and informed consent has become a crucial factor influencing market operations. Moreover, collaborations between biobanks and pharmaceutical firms are expanding the scope of precision medicine, creating new pathways for market growth.
Biobanking Market Opportunities and Challenges
The biobanking market holds vast opportunities driven by rapid technological advancements and growing investments in genomic research. The rise of regenerative medicine and personalized therapies demands large and diverse sample repositories, opening new growth avenues for biobanks globally. Emerging markets in Asia Pacific and Latin America present lucrative opportunities due to growing research infrastructure and favorable government initiatives. However, the industry faces significant challenges, including ethical concerns regarding consent and data usage, stringent regulatory requirements, and high operational costs for storage and maintenance. Addressing these challenges will be critical for stakeholders to harness the market's full potential and maintain long-term sustainability.
Biobanking Market Segmentation
By Material
Population-based Biobanks
Disease-based Biobanks
Academic Biobanks
Hospital-based Biobanks
Commercial Biobanks
By Sample Type
Blood Products
Human Tissues
Nucleic Acids
Cell Lines
Biological Fluids
Others
By Application
Drug Discovery and Development
Personalized Medicine
Regenerative Medicine
Clinical Research
Forensics
Others
By Ownership
Public Biobanks
Private Biobanks
Hybrid Biobanks
By Source
Human Biobanks
Animal Biobanks
Plant Biobanks
By End User
Biopharmaceutical Companies
Research and Academic Institutes
Hospitals
Contract Research Organizations (CROs)
Others
By Region
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
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Biobanking Market Growth
The biobanking market is witnessing remarkable growth driven by increasing investments in biomedical research and the rising demand for personalized healthcare solutions. Technological innovations such as automation, robotic sample handling, and sophisticated data management systems have streamlined biobanking operations, enhancing efficiency and scalability. Additionally, collaborations between public and private institutions are fostering the development of large-scale biobanks that support advanced clinical trials and drug development processes. As healthcare providers increasingly adopt precision medicine, the need for high-quality biospecimens has surged. This upward trajectory highlights the vital role biobanks play in transforming research capabilities and accelerating the development of next-generation treatments worldwide.
Biobanking Market Forecast
Looking ahead, the biobanking market is projected to grow at a CAGR of 6.89% during the forecast period of 2025-2034, reaching a value of USD 140.38 Billion by 2034. This promising forecast reflects the rising integration of big data and genomics into medical research. Continued investment in biobanking infrastructure, especially in emerging economies, will expand the availability of diverse sample collections. Growing awareness about biobanks' contribution to rare disease research and forensic science will further drive demand. Additionally, the evolution of virtual biobanking and cloud-based storage solutions is expected to reshape how biospecimens and associated data are managed, enabling secure, efficient, and remote access to valuable samples.
Biobanking Market Competitor Analysis
Thermo Fisher Scientific Inc.: Global leader providing advanced laboratory equipment, biobanking storage solutions, and sample management systems to support biomedical research.
Brooks Automation, Inc.: Specializes in automated storage systems and sample management technologies, enhancing efficiency and security in modern biobanking facilities worldwide.
Qiagen N.V.: Offers innovative molecular sample technologies, enabling efficient collection, processing, and analysis of biological specimens for research and diagnostics.
Tecan Group Ltd.: Develops precision laboratory automation and liquid handling instruments, supporting high-throughput biobanking workflows for research institutions.
Hamilton Company: Provides automated sample storage, liquid handling, and robotics solutions for secure and scalable biobanking operations.
Chart Industries, Inc.: Designs cryogenic storage equipment and solutions, ensuring long-term preservation of biological samples at ultra-low temperatures.
PHC Holdings Corporation: Supplies biomedical freezers and storage equipment, supporting safe storage and transport of critical biospecimens for biobanking.
Becton, Dickinson and Company (BD): Leading supplier of medical devices and laboratory solutions, including sample collection and storage systems for biobanks.
Merck KGaA: Offers a wide range of life science tools and services, supporting biobanking, genomics, and drug discovery processes globally.
Panasonic Healthcare Holdings Co., Ltd.: Manufactures high-performance ultra-low temperature freezers and biomedical storage solutions for reliable sample preservation.
STEMCELL Technologies Inc.: Provides specialized cell culture media, reagents, and tools essential for regenerative medicine and advanced biobanking research.
Lifenet Health: Non-profit leader in human tissue banking and regenerative medicine, providing high-quality tissue samples for research and transplantation.
Promega Corporation: Delivers genomic, protein, and cellular analysis tools, enabling biobanks to maximize sample utility in life sciences research.
Greiner Bio-One International GmbH: Produces high-quality laboratory and medical devices, including advanced sample collection and storage products for biobanking.
Lonza Group AG: Supplies bioprocessing solutions, cell therapy services, and storage technologies that support efficient sample management for biobanks worldwide.
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Expert Market Research is a leading market research firm delivering data-driven insights to the pharmaceutical, biotechnology, and medical device industries. Our comprehensive research solutions include market research reports, providing in-depth analysis of industry trends and competitive landscapes; drug pipeline reports, tracking drug development progress, clinical trials, and regulatory approvals; epidemiology reports, offering detailed disease prevalence and patient population studies; and patent reports, assessing intellectual property landscapes and innovation trends, among others. Leveraging proprietary data, advanced analytics, and expert methodologies, we help businesses navigate complex markets, optimize strategies, and drive innovation. We empower clients with actionable intelligence, enabling them to make informed decisions and stay ahead in the rapidly evolving healthcare sector.
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