Biobanking Market by Type, Product and Geography - Forecast and Analysis 2023-2027

Biobanking Market Analysis Report 2023-2027:

The global biobanking market size is estimated to grow by USD 1,452.78 million at a CAGR of 8.58% between 2022 and 2027. 

Personalized medicine refers to treatments that are based on an individual's characteristics, needs, and preferences. Individuals are increasingly storing their tissues and stem cells for future treatment if needed. An important need for personalized medicine is the availability of individual samples with annotated clinical and pathological data on individuals. Research institutions are exploring in-depth ways to develop personalized treatments using biological samples. Thus, the rising demand for personalized medicine will drive the demand for biobanks across the globe. These factors are expected to fuel the growth of the global biobanking market during the forecast period.

Technavio has segmented the market into type, product, and geography

• The type segment includes physical and virtual
• The product segment includes equipment and consumables
• The geography segment includes key regions such as Europe, North America, Asia, and Rest of World (ROW)

It also includes an in-depth analysis of drivers, trends, and challenges. Our report examines historic data from 2017 to 2021, besides analyzing the current market scenario.

What will be the size of the Biobanking Market During the Forecast Period?

To learn more about this report, Request Free Sample

Biobanking Market Segmentation by Type, Product, and Geography Analysis

Type Analysis 

Physical 

The market share growth by the physical segment will be significant during the forecast period. The physical segment refers to the various types of biobanks based on the physical nature of the biological samples. Based on the physical characteristics of the sample, biobanks can be classified into several categories, such as tissue biobanks, cell biology banks, and blood biobanks. The rising emphasis on personalized medicine, tailoring medical treatments to individual patients based on their genetic makeup and other biomarkers, has driven the need for samples. High-quality biologicals are stored in biobanks.

Get a glance at the market contribution of various segments View a PDF Sample

The physical segment was valued at USD 1,551.37 million in 2017. The burden of chronic diseases, such as cancer, cardiovascular disease, and diabetes, has increased across the world. Biobanks are essential for collecting and storing samples to study the underlying causes of these diseases and to develop targeted therapies. Precision medicine initiatives at the national and international levels have stimulated the creation of large-scale biobanks that store samples from different populations. These biobanks are important for conducting research that integrates genetic and environmental factors. Hence, these factors are expected to fuel the growth of the physical segment of the global biobanking market during the forecast period. 

Product Segment Analysis 

Equipment

The equipment segment of the global biobanking market refers to the different types of equipment and technologies used in biobanks to store, process and preserve biological samples and specimens. Biobank equipment plays an important role in maintaining sample quality and integrity for precision medicine research and personalized treatments. Equipment used in biobanking facilities is critical in maintaining the quality and integrity of stored samples to ensure their suitability for use in scientific studies, and future medical applications. The prevalence of chronic diseases, such as cancer, cardiovascular disease, and diabetes, creates a need for well-preserved biological samples for disease study and biomarker discovery. Thus, such factors are expected to propel the growth of the equipment segment of the global biobanking market during the forecast period. 

Consumables

The consumables segment of the global biobanking market refers to different types of consumable products including media, cryotubes, cryovials, cryo-ware, and canisters, used in biobanking operations. These consumables play a vital role in the collection, processing, storage, and retrieval of biological samples with the highest quality and integrity. Continuous advances in biomedical research, including genomics, proteomics, and cellular research, require a wide variety of consumables for sample collection, processing, and storage. Raising awareness among researchers, clinicians, and healthcare providers of the value of biobanks for scientific advancement and patient care is driving demand for consumable investment to facilitate the biobanking process. Thus, such factors are expected to fuel the growth of the consumables segment of the global biobanking market during the forecast period. 

Regional Analysis

For more insights about the market share of various regions View PDF Sample now!

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 will shape the market during the forecast period. The presence of many well-established biobanks in the region has led to an increase in the need to store biological samples in Europe. This is mainly because biobanking systems are well established in Nordic countries such as Sweden, Norway, Denmark, Finland, Iceland, and other European countries such as France and Belgium. Highly advanced biobanking and well-functioning public health services are two key factors that help these countries in the region have strong biobanking systems.

One of the major biobanks in the region, the UK Biobank, which stores more than five million population samples, has proven essential to conducting in-depth drug research. Thus, such factors will fuel the growth of the market in this region during the forecast period. 

COVID Recovery Analysis

The COVID-19 outbreak slightly affected the market revenue for biobanking in Europe in 2020. However, in 2021, the initiation of large-scale vaccination drives?lifted the lockdown and travel restrictions, which led to the resumption of ample collection and research activities in Europe. Biobanks are used to store and analyze specimens from patients with chronic diseases, helping to improve the diagnosis, treatment, and prevention of these diseases.  Such factors are expected to drive the growth of the regional biobanking market during the forecast period.

Buy Now Full Report and Discover More

Key Biobanking Market Players 

Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:

AMS Biotechnology Europe Ltd.: The company offers biobanking such as Pig Liver Total RNA, Zebrafish Genomic DNA, Human tonsil normal FFPE tissue block, and others.

• 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 Bonaduz AG
• OraSure Technologies Inc.
• PHC Holdings Corp.
• Promega Corp.
• ProteoGenex Inc.
• Shanghai Genext Medical Technology Co. Ltd.
• Thermo Fisher Scientific Inc.
• US Biolab Corp. Inc.

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 market 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.

Biobanking Market: Key Drivers, Trends, Challenges, and Customer Landscape

There are multiple factors influencing market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. 

Key Biobanking Market Drivers

An increase in efficiency through automation is the key factor driving the growth of the market. Automation will benefit biobanks by maintaining sample quality and integrity over the long term, minimizing manual errors, improving workflow efficiency, and delivering long-term profitability. In addition, it plays an essential role in blood fractionation engineering, DNA extraction, labeling, and capping. Automation also benefits biobanking facilities with large samples or geographically dispersed facilities. Most automated storage devices allow samples to be stored and maintained at optimal temperatures and environments.

In addition, automating certain processes in biobanking workflows provides significant technical and economic benefits for biorepositories. As a result, many biobanks are moving towards automation with centralized sample storage and management. With centralization, organizations can establish and implement standard operating procedures to ensure sample quality. Hence, the shift towards automation is expected to fuel the growth of the global biobanking market during the forecast period. 

Significant Biobanking Market Trends

Increasing focus on rare disease research is the primary trend in the market. Increasing research into rare and complex diseases will require more biological samples to be collected. In addition, focusing on orphan drug production will require more samples for clinical trials. Globally, due to growing demand from governments for more evidence-based drugs and with these trials using biological samples collected by biobanks will become more necessary.

Furthermore, EuroBioBank collects more than 10,000 samples per year and distributes about 7,000 samples in Europe and other countries. These samples are taken from people with rare diseases. Such a factor is expected to fuel the demand for biobanks which in turn is expected to boost the growth of the global biobanking market during the forecast period. 

Major Biobanking Market Challenges

Increasing ethical issues is the challenge that affects the growth of the market. The first step in the protection process is asking for informed consent. Furthermore, private companies may try to use biobank data for their own benefit. Over the years, there has been an ongoing debate about the ethical issues involved in the preservation of biological samples. In addition, research on biological samples such as tissues and stem cells is questionable in many countries.

Moreover, some issues in worth mentioning include cloning embryonic stem cells and destroying embryos to generate cell lines. In addition, concerns about safety, scientific purity, and consent to use human embryonic stem cell lines for research continue to be debated. Thus, these factors are expected to impede the growth of the global biobanking market during the forecast period. 

Buy Now Full Report and Discover More

Key Biobanking Market Customer Landscape

The market 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 report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Global Biobanking Market Customer Landscape

Segment Overview

The biobanking market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. 

• Type Outlook (USD Million, 2017 - 2027)
  • Physical
  • Virtual

• Product Outlook (USD Million, 2017 - 2027)
  • Equipment
  • Consumables

• Region Outlook (USD Million, 2017 - 2027)
  • North America
    • The U.S.
    • Canada
  • Europe
    • The U.K.
    • Germany
    • France
    • Rest of Europe
  • Asia
    • China
    • India
  • Rest of the World(ROW)
    • Brazil 
    • Austalia
    • Argentina

View Sample PDF at your Fingertips

What are the Key Data Covered in this Biobanking Market Research Report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the biobanking market between 2023 and 2027
• Precise estimation of the biobanking market size and its contribution of the market in focus to the parent market
• Detailed analysis of customer landscape covering Diver of price sensitivity, Adoption of the lifecycle, and key purchase criteria 
• Companies landscape comparing criticality of inputs and factors of differentiation
• Exclusive Matrix on companies position and classification
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the market across Europe, North America, Asia, and Rest of World (ROW)
• Thorough analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive analysis of factors that will challenge the growth of biobanking market companies

We can help! Our analysts can customize this market research report to meet your requirements. Get in touch