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The biobanking market size is valued to increase USD 1.67 billion, at a CAGR of 9.04% from 2023 to 2028. Growing demand for personalized medicine will drive the biobanking market.
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The biobanking industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The physical segment is estimated to witness significant growth during the forecast period.
Biobanks, essential repositories for storing and managing biological samples, have gained significant traction due to the increasing focus on personalized medicine. These institutions house various types of samples, including human tissues, cells, blood, DNA, and biomolecules, for research and medical applications. The classification of biobanks is based on the physical nature of the samples, resulting in tissue biobanks, cell biobanks, and blood biobanks. Automation solutions play a crucial role in enhancing the efficiency of biobanking processes. Long-term storage is a critical aspect, with ultra-low temperature freezers and liquid nitrogen storage ensuring sample integrity. Microbial contamination prevention and cross-contamination prevention are essential for maintaining sample quality.
Informed consent processes, sample tracking systems, and regulatory compliance are integral components of biobanking operations. Sample distribution, quality control metrics, tissue processing workflows, and LIMs integration are other essential elements. Data security measures, RNA isolation protocols, viability assays, cryopreservation techniques, sample annotation standards, and sample integrity are crucial for maintaining the integrity and usability of the stored samples. Ethics review boards oversee ethical considerations, while inventory management systems, quality assurance, sample retrieval, and data privacy regulations ensure compliance and transparency. Cell culture media, DNA extraction methods, and biospecimen management are essential for sample preparation and processing.
Biorepository informatics, sample storage systems, database integration, vapor phase storage, and inventory management systems facilitate efficient data management and access. The market for biobanking solutions is expanding, with a reported 15% of hospitals and research institutions adopting biobanking services. Furthermore, industry experts anticipate a 17% increase in the adoption of biobanking services by pharmaceutical and biotech companies. These trends underscore the growing importance of biobanking in advancing medical research and personalized medicine.
The Physical segment was valued at USD 1.66 billion in 2018 and showed a gradual increase during the forecast period.
Europe is estimated to contribute 38% to the growth of the global market during the forecast period.Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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The European the market is characterized by a significant presence of established biobanks, with over 60% of the global total located in the region. This trend is largely due to the well-developed biobanking systems in Nordic countries such as Sweden, Norway, Denmark, Finland, Iceland, and France, among others. These nations have been at the forefront of population-based biobanking and possess a high degree of expertise. Advanced biobanks and effective public health services are the primary drivers of these robust biobanking systems.
Currently, more than 10 million biological samples are stored in European biobanks, with an annual growth rate of approximately 5%. This growth can be attributed to the increasing demand for research and personalized medicine, as well as the expansion of existing biobanks.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The market is a critical sector in the life sciences industry, driven by the increasing demand for automated sample processing workflows and high-throughput screening techniques to accelerate research and development in various fields. Biobanks employ cryopreservation optimization strategies to maintain biospecimen quality, ensuring their integrity during long-term storage. Stringent biospecimen quality control procedures and sample tracking and traceability systems are essential to ensure data integrity and regulatory compliance for biorepositories. Secure data management and access control are vital components of modern biobanking, as advanced data analysis for biobanking becomes increasingly sophisticated. Regulatory compliance for biorepositories is a significant concern, with ethical considerations in biobanking playing an essential role in shaping industry best practices.
Integration of Laboratory Information Management Systems (LIMS) and biorepository systems is a key trend, enabling cross-platform data integration and effective sample management strategies. Preventative maintenance of storage equipment and validation of sample preparation methods are crucial for maintaining biospecimen quality assurance programs. Advanced statistical analysis of biobanking data and implementation of data security measures are essential to ensure data privacy and security. The industrial application segment accounts for a significantly larger share of the market compared to the academic segment, with more than 70% of new product developments focusing on industrial applications. Efficient sample retrieval protocols and best practices for sample annotation are essential for maximizing the value of biospecimens.
Cross-platform data integration and effective sample management strategies enable researchers to access and analyze data more efficiently, driving innovation and discovery in various fields. In conclusion, the market is a dynamic and evolving sector, with a strong focus on automation, data security, and regulatory compliance.
The biobanking market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the biobanking market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape of Biobanking Industry
Companies are implementing various strategies, such as strategic alliances, biobanking market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the industry.
AMS Biotechnology Europe Ltd. - This company specializes in providing a range of high-quality biobanking solutions, including Pig Liver Total RNA, Zebrafish Genomic DNA, and Human tonsil normal FFPE tissue blocks. Their offerings cater to various research needs, ensuring scientific advancements with reliable and authentic biological materials.
The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key industry players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Dive into Technavio’s robust research methodology, blending expert interviews, extensive data synthesis, and validated models for unparalleled Biobanking Market insights. See full methodology.
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Market Scope |
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Report Coverage |
Details |
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Page number |
159 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 9.04% |
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Market growth 2024-2028 |
USD 1669.1 million |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
8.36 |
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Key countries |
US, Canada, Germany, UK, Italy, France, China, India, Japan, Brazil, Egypt, UAE, Oman, Argentina, KSA, UAE, Brazil, and Rest of World (ROW) |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
What is the expected growth of the Biobanking Market between 2024 and 2028?
USD 1.67 billion, at a CAGR of 9.04%
What segmentation does the market report cover?
The report is segmented by Type (Physical and Virtual), Product (Equipment and Consumables), Geography (Europe, North America, Asia, and Rest of World (ROW)), End-User (Pharmaceutical & Biotechnology Companies, Academic & Research Institutions, Hospitals, and Contract Research Organizations (CROs)), Application (Regenerative Medicine, Life Science Research, Clinical Research, Drug Discovery & Development, and Personalized Medicine), Sample Type (Blood Products, Human Tissues, Cell Lines, Nucleic Acids, Biological Fluids, and Human Waste Products), and Biobank Type (Population-Based Biobanks, Disease-Based Biobanks, Virtual Biobanks, Tissue Biobanks, and Genetic Biobanks)
Which regions are analyzed in the report?
Europe, North America, Asia, and Rest of World (ROW)
What are the key growth drivers and market challenges?
Growing demand for personalized medicine, Increasing ethical issues
Who are the major players in the Biobanking Market?
AMS Biotechnology Europe Ltd., ASKION GmbH, Azenta Inc., Bay Biosciences LLC, BioIVT LLC, Boca Biolistics LLC, CTIBiotech, Cureline Inc., Danaher Corp., Firalis SA, GENETICIST Inc., Greiner Bio One International GmbH, Hamilton Co., OraSure Technologies Inc., PHC Holdings Corp., Promega Corp., ProteoGenex Inc., Shanghai Genext Medical Technology Co. Ltd., Thermo Fisher Scientific Inc., and US Biolab Corp. Inc.
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Product
8 Market Segmentation by End-User
9 Market Segmentation by Application
10 Market Segmentation by Sample Type
11 Market Segmentation by Biobank Type
12 Customer Landscape
13 Geographic Landscape
14 Drivers, Challenges, and Opportunity/Restraints
15 Competitive Landscape
16 Competitive Analysis
17 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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