Biobanking Market to Reach USD 170.93 Billion by 2033, Driven by Surge in Chronic Diseases and Genomic Research - Straits Research

According to a new report by Straits Research, the global biobanking market was valued at USD 82.03 billion in 2024 and is projected to grow from USD 89.00 billion in 2025 to USD 170.93 billion by 2033, expanding at a CAGR of 8.5% during the forecast period (2025-2033). The market's rapid growth is fueled by the increasing research and development activities in biobank specimen applications, the rising prevalence of chronic diseases, and growing government and commercial investments in biobanking infrastructure worldwide.

A biobank serves as a biorepository designed to collect, process, and preserve biological materials for research, biodiversity studies, and diagnostic applications. It plays a vital role in advancing personalized medicine, genetic disorder research, and age-related disease management. The market's expansion is supported by the growing adoption of genomics, proteomics, and regenerative medicine, as well as the rising demand for biospecimens among pharmaceutical and biotechnology companies.

Download Exclusive Research Report PDF Sample: (Including Full TOC, List of Tables & Figures, Chart) : https://straitsresearch.com/report/biobanking-market/request-sample

Market Dynamics

Rising Research & Development Activities Boosting Market Growth

The surge in R&D for biobank specimen applications is one of the primary factors driving the global biobanking market. Both public and private organizations are conducting numerous clinical trials to expand the use of biobanked samples, particularly cord blood, for treating neurological, cardiac, genetic, and autoimmune disorders. The Parents' Guide to Cord Blood Foundation reported around 113 ongoing clinical trials utilizing cord blood for multiple therapeutic purposes. Additionally, the expansion of virtual biobank networks comprising over 330 clinical sites and approximately 1.5 million biosamples has accelerated the accessibility of biological materials for scientific research and diagnostic use.

Furthermore, initiatives such as the National Marrow Donor Program's Be the Match Biobank and the COVID-19 Genomics UK Consortium (COG-UK) Biobank by the University of Oxford and the Wellcome Sanger Institute have reinforced the importance of biobanking in advancing genomic research and pandemic response.

Growing Burden of Chronic Diseases Driving Biobank Utilization

The growing global prevalence of chronic diseases such as cancer, cardiovascular disorders, and neurological diseases continues to fuel demand for biobanked materials. According to the National Cancer Institute, approximately 1.8 million Americans are diagnosed with cancer each year, a figure expected to rise to 19 million in 2024. Similarly, the World Health Organization (WHO) reported that about 262 million people worldwide were affected by asthma in 2021, leading to 461,000 deaths. These statistics underline the increasing need for biobanks in therapeutic development and regenerative medicine, enhancing the market's growth potential.

Market Challenges

Lack of Awareness of Biobanking

Despite significant advancements, public awareness of biobanking remains limited. Surveys across countries such as Germany, Italy, India, and China indicate low public understanding of biobank functions. In the U.S., nearly 67% of respondents are unaware of biobanks, while similar patterns exist in Latin America and the Middle East. This lack of awareness is expected to moderately restrain market expansion, emphasizing the need for stronger educational and outreach initiatives.

For more insights and detailed analysis on the Market, visit : https://straitsresearch.com/report/biobanking-market

Market Opportunities

High Growth Potential in Developing Economies

Emerging economies such as India and China are expected to witness robust growth due to rising healthcare infrastructure, improved affordability, and increased awareness of chronic diseases. The launch of Stempeucel in India by Stempeutics and Cipla marks a major milestone in stem cell therapy applications. Furthermore, with over 50,000 transplants performed globally each year, developing nations are likely to play a pivotal role in the biobanking market's next growth phase.

Regional Insights

Europe dominated the market in 2024 with a 36.5% share, driven by early adoption of advanced biobanking technologies and robust funding from national agencies. North America remains the second-largest market, projected to reach USD 28.91 billion by 2031 at a 6.3% CAGR, supported by a strong presence of cord blood storage facilities and advanced R&D initiatives. Asia-Pacific (APAC) is forecasted to be the fastest-growing region, owing to its expanding geriatric population, rising medical tourism, and increasing research investments in precision medicine.

Download Exclusive Research Report PDF Sample: (Including Full TOC, List of Tables & Figures, Chart) : https://straitsresearch.com/report/biobanking-market/request-sample

Segmental Overview

By Specimen Type: Blood Products held the dominant share in 2024 and are projected to grow at a 6.5% CAGR, followed by Solid Tissue, the fastest-growing segment driven by regenerative medicine applications.

By Biobank Type: Disease-Oriented Biobanks led the market and are expected to register a 5.9% CAGR through 2033.

By Ownership: National/Regional Agencies dominated in 2024 with strong government funding and are projected to expand at a 5.5% CAGR.

By Application: The Research segment accounted for the largest share and is projected to grow at a 6.9% CAGR, fueled by advances in genomics and personalized medicine.

By End-User: Academic Institutions contributed the most to revenue in 2024, while Pharma & Biotech Companies represent the fastest-growing segment due to expanding clinical trials and biopharma innovation.

For more insights and detailed analysis on the Market, visit : https://straitsresearch.com/report/biobanking-market

Key Players in the Biobanking Market

BioIVT & Elevating Science
Geneticist Inc
Firalis S.A
AMS Biotechnology Ltd. (AMSBIO LLC)
US Biolab Corporation, Inc
ProteoGenex, Inc.
Cureline, Inc.
Bay Biosciences LLC
CTI Biotech
Boca Biolistics
Illumina Inc.

Browse More Insights & Reports :

Compound Management Market : https://straitsresearch.com/report/compound-management-market

Blood Products Market : https://straitsresearch.com/report/blood-products-market

Cancer Biologics Market : https://straitsresearch.com/report/cancer-biologics-market

Acinetobacter Pneumonia Therapeutics Market : https://straitsresearch.com/report/acinetobacter-pneumonia-therapeutics-market

Acne Treatment Market : https://straitsresearch.com/report/acne-treatment-market

Contact Us

Office 515 A, Amanora Chambers,
Amanora Park Town, Hadapsar,
Pune 411028, Maharashtra, India.

+1 646 905 0080 (U.S.)
+91 8087085354 (India)
+44 203 695 0070 (U.K.)
sales@straitsresearch.com

About Us

For over a decade, Straits Research has been a trusted partner to more than 2,000 small and large enterprises, empowering senior leaders and decision-makers with actionable intelligence to navigate complex markets. Our structured syndicate reports, published year-round, cover critical sectors such as chemicals, materials, food and beverage, healthcare, pharmaceuticals, automotive, technology, aerospace, and defense. Combined with our custom research tailored to client-specific needs, we deliver insights that drive business progress and informed decision-making.

This release was published on openPR.