Global Biobanking Market - Analysis and Forecast (2023-2030)

Industry insights by Storage Type (Manual and Automated), by Offering (Consumables, Equipment, Services, and Software), by Applications (Clinical Research, Life Science and Medical Research, and Regenerative Medicine), by Utility Needs (Research, Routine, and Epidemiology ), by Geography (U.S., Canada, Mexico, Germany, U.K., France, Italy, Spain, Japan, China, India, Australia, South Korea, Brazil, U.A.E, Saudi Arabia, South Africa)

Industry Overview

The global biobanking market was valued at USD 2.4 billion in 2022 and is expected to grow at a CAGR of 6.8% during the forecast period (2023-2030). Several offerings such as consumables and equipment, majorly contribute to the biobanking market size. Increasing the prevalence of chronic diseases, increasing demand for value-based care, increasing investment for genomic research, increasing awareness, robust pipeline for cell therapy are leading to the growth of the market. The global biobanking market refers to the market for the storage and management of biological samples and associated data for research and clinical purposes. Biobanks are facilities that collect, process, store, and distribute biological samples such as blood, tissue, DNA, and cells, along with relevant patient information. These samples and data are valuable resources for studying diseases, discovering new treatments, and advancing personalized medicine.The biobanking market has been growing rapidly in recent years due to several factors, including advancements in biotechnology and genomics, increased demand for personalized medicine, and rising collaborations between biobanks and research institutions. The market is driven by the need for large-scale and well-characterized sample collections to support biomedical research, drug discovery, and clinical trials.

Market Segmentation

Insight by Storage Type

Based on storage type biobanking market is categorized into manual and automated, on the basis of the product. Among the two categories, the demand for automated biobanking storage is growing at a higher rate. The trend is anticipated to continue in the coming years due to the increasing need for automation, advancements in technology, need for storage of contamination-free samples.

Insight by Offering

Based on offerings, the biobanking market is segmented into consumables, equipment, services, and software. Consumables hold the largest share in the biobanking market, globally primarily due to the frequent purchases over the years. The market for biobanking services is anticipated to grow significantly during the forecast period as new players are emerging to provide biobanking services with novel approaches.

Insight by Application

Based on application the market is categorized into life science and medical research, clinical research, and regenerative medicine. Of all the categories, biobanking is mostly used for clinical research purposes as the need for value-based treatments for various therapeutic areas is on the rise significantly across the globe. Also, with the advancements in cell therapy, the market for regenerative medicines is also growing at a significant rate.

Insight by Utility Needs

Based on utility needs, the market is categorized into routine, research, and epidemiology. The biobanking market is anticipated to hold a significant share for research due to the increasing research funding by the large biopharmaceutical companies across the globe.

Global Biobanking Market Report Coverage

Industry Dynamics

Growth Drivers

The growing awareness on the therapeutic potential of stem cells, increasing approval of clinical trials in using cord blood cells, advances in biobanking; increasing government funding for regenerative medicines; and development of novel technologies for stem cell preservation, storage, and processing, are the primary growth drivers for stem cell banking industry. Initiatives are taken by various companies and organizations to broaden awareness biobanking. For instance, in the U.S. CordBloodAwareness.org was formed to increase the awareness about the umbilical cord blood stem cells.

Growing global burden of chronic disease, increasing healthcare expenditure and public awareness related to the therapeutic potential of stem cells are also fueling the growth of the biobanking market.

Advancements in genomics and personalized medicine: The field of genomics has witnessed significant advancements, enabling researchers to understand diseases at the molecular level. Biobanks play a crucial role in storing and providing genomic data and samples to support personalized medicine initiatives.

Growing investments in biobanking infrastructure: Governments, research institutions, and pharmaceutical companies have been investing heavily in the development of biobanking infrastructure to support large-scale sample storage and management.

Technological advancements: Automation and robotic systems have improved the efficiency and accuracy of sample processing and storage in biobanks. Additionally, advancements in sample tracking, data management, and quality control have further facilitated biobanking operations.

Trends

Collaborations and partnerships: Biobanks are increasingly forming collaborations and partnerships with research institutions, pharmaceutical companies, and healthcare providers to enhance sample collections, share resources, and accelerate research and development efforts.

Increasing prevalence of chronic diseases: The rising incidence of chronic diseases such as cancer, cardiovascular diseases, and genetic disorders has led to a growing need for high-quality biological samples for research and development purposes.

Regulatory support: Governments and regulatory bodies have implemented guidelines and regulations to ensure the ethical and responsible operation of biobanks, which has fostered trust and confidence in the industry.

Growing demand for personalized and precision medicine: Biobanks play a vital role in supporting personalized medicine approaches by providing researchers and clinicians with access to well-characterized samples and associated clinical data.

Challanges 

The biobanking market is facing a number of challenges, including the high cost of biobanking, the lack of standardization, and the ethical concerns associated with the collection and storage of biological samples. However, the market is also expected to benefit from a number of trends, such as the increasing use of big data analytics in biobanking, the development of new biobanking technologies, and the growing demand for biosamples for personalized medicine. The strict regulatory framework and high operational and processing costs are the major challenges for the growth of the biobanking market. Moreover, the socio-ethical issues associated with biobanking and the high cost of automation are impeding the growth of the global market.

Geography Insight

Geographically, The North American region is the largest market for biobanking, followed by Europe and Asia Pacific. The growth of the biobanking market in North America is being driven by the increasing prevalence of chronic diseases, the rising demand for personalized medicine, and the availability of funding for biobanking research. The European biobanking market is also growing rapidly, due to the increasing awareness of the benefits of biobanking and the availability of government funding. The Asia Pacific biobanking market is expected to grow at the fastest pace during the forecast period, due to the rising prevalence of chronic diseases and the increasing investment in biobanking research in the region. Asia-Pacific is the fastest-growing biobanking industry primarily due to the high potential of China. The growth in the region is centered in China, Japan and India as these countries have been developing their Lifesciences industry infrastructure with the increasing research funding.

Competitive Insight

Some of the key players operating in the global biobanking market are BioLifeSolutions Inc, Becton, Dickinson and Company, Atlanta Biologicals Inc., Merck KGaA, Thermo Fisher Scientific Inc., STEMCELL Technologies Inc., Qiagen NV, Chart Industries Inc., VWR International LLC, Hamilton Company, PHC Holdings Corporation, Avantor Inc, and AlphaCord LLC.

Forecast Parameters

- Identifying variables and establishing market impact.

- Establishing market trends regionally.

- Analyzing opportunities and market penetration rates by understanding product commercialization, regional expansion.

- Analyzing demand and supply trends and changes in industry dynamics to establish future growth.

- Analyzing sustainability strategies adhered by market participants in an attempt to determine future course of the market.

- Analyzing historical market trends and super-imposing them on the current and future variables to determine the year-on-year trends.

- Understanding adoption, production, export, import, and regulatory framework.

Data Validation

- Estimated and forecasted data was validated through industry experts.

- Apart from industry experts, data triangulation methods were used for validation.

- Bottom-up and top-down approach has been used for estimation and forecast of market data, whereas the top-down approach was used for validation.

- Demand, as well as supply-side surveys, were conducted in order to understand the industry dynamics and data validation.

Primary Research

VynZ Research conducts extensive primary research to understand the market dynamics, validate market data and have key opinions from the industry experts. The key profiles approached within the industry include CEO, CFO, CTO, President, Vice President, Product Managers, Regional Heads, and Others. Also, end-user surveys comprising of consumers are also conducted to understand consumer behavior.

The Biobanking Market report offers a comprehensive market segmentation analysis along with an estimation for the forecast period 2023–2030.

Segments Covered in the Report

• By Type 
  • Manual
  • Automated
• By Offering 
  • Consumables
  • Equipment
  • Services
  • Software
• By Application 
  • Clinical Research
  • Life Science and Medical Research
  • Regenerative Medicine
• By Utility Needs 
  • Research
  • Routine
  • Epidemiology

Region Covered in the Report

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia-Pacific (APAC)
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia-Pacific
• Rest of the World (RoW)
  • Brazil
  • Saudi Arabia
  • South Africa
  • U.A.E.
  • Other Countries

Source: VynZ Research

1. Research Overview 

        1.1. The Report Offers
        1.2. Market Coverage
                1.2.1. By Type
                1.2.2. By Offering
                1.2.3. By Application
                1.2.4. By Utility Needs
                1.2.5. By Region
        1.3. Research Phases
        1.4. Limitations
        1.5. Market Size Estimations and Forecast
                1.5.1. Data Sources
                        1.5.1.1. Primary Research
                        1.5.1.2. Secondary Research
                1.5.2. Methodology
                        1.5.2.1. Data Exploration
                        1.5.2.2. Forecast Parameters
                        1.5.2.3. Data Validation
                        1.5.2.4. Assumptions
                1.5.3. Study Period & Data Reporting Unit

2. Executive Summary

3. Market Definition

        3.1. By Type
                3.1.1. Manual
                3.1.2. Automated
        3.2. By Offering
                3.2.1. Consumables
                3.2.2. Equipment
                3.2.3. Services
                3.2.4. Software 
        3.3. By Application
                3.3.1. Clinical Research
                3.3.2. Life Science and Medical Research
                3.3.3. Regenerative Medicine
        3.4. By Utility Needs
                3.4.1. Research
                3.4.2. Routine
                3.4.3. Epidemiology 

4. Industry Overview

        4.1. Industry Dynamics
                4.1.1. Major Drivers
                4.1.2. Major Restraints
                4.1.3. Key Trends
                4.1.4. Key Opportunities
        4.2. Industry Ecosystem
                4.2.1. Porter’s Five Forces Analysis
                4.2.2. Strategic Development Analysis
        4.3. Competitive Insight
                4.3.1. Competitive Analysis of Key Players
                4.3.2. Market Attractiveness Analysis

5. Global Market Estimate and Forecast

        5.1. By Type
        5.2. By Offering
        5.3. By Application
        5.4. By Utility Needs
        5.5. By Region

6. North America Market Estimate and Forecast

        6.1. By Type
        6.2. By Offering
        6.3. By Application
        6.4. By Utility Needs
        6.5. By Country
                6.5.1. U.S. Market Estimate and Forecast
                6.5.2. Canada Market Estimate and Forecast
                6.5.3. Mexico Market Estimate and Forecast

7. Europe Market Estimate and Forecast

        7.1. By Type
        7.2. By Offering
        7.3. By Application
        7.4. By Utility Needs
        7.5. By Country
                7.5.1. Germany Market Estimate and Forecast
                7.5.2. U.K. Market Estimate and Forecast
                7.5.3. France Market Estimate and Forecast
                7.5.4. Italy Market Estimate and Forecast
                7.5.5. Spain Market Estimate and Forecast
                7.5.6. Rest of Europe Market Estimate and Forecast

8. Asia-Pacific Market Estimate and Forecast

        8.1. By Type
        8.2. By Offering
        8.3. By Application
        8.4. By Utility Needs
        8.5. By Country
                8.5.1. Japan Market Estimate and Forecast
                8.5.2. China Market Estimate and Forecast
                8.5.3. India Market Estimate and Forecast
                8.5.4. Australia Market Estimate and Forecast
                8.5.5. South Korea Market Estimate and Forecast
                8.5.6. Rest of Asia-Pacific Market Estimate and Forecast

9. Rest of the World Market Estimate and Forecast

        9.1. By Type
        9.2. By Offering
        9.3. By Application
        9.4. By Utility Needs
        9.5. By Country
                9.5.1. Brazil Market Estimate and Forecast
                9.5.2. Saudi Arabia Market Estimate and Forecast
                9.5.3. U.A.E. Market Estimate and Forecast
                9.5.4. South Africa Market Estimate and Forecast
                9.5.5. Other Countries Market Estimate and Forecast

10. Company Profiles

        10.1. BioLifeSolutions Inc
                10.1.1. Snapshot
                10.1.2. Overview
                10.1.3. Offerings
                10.1.4. Financial Insight
                10.1.5. Recent Developments
        10.2. Becton, Dickinson and Company
                10.2.1. Snapshot
                10.2.2. Overview
                10.2.3. Offerings
                10.2.4. Financial Insight
                10.2.5. Recent Developments
        10.3. Atlanta Biologicals Inc.
                10.3.1. Snapshot
                10.3.2. Overview
                10.3.3. Offerings
                10.3.4. Financial Insight
                10.3.5. Recent Developments
        10.4. Merck KGaA
                10.4.1. Snapshot
                10.4.2. Overview
                10.4.3. Offerings
                10.4.4. Financial Insight
                10.4.5. Recent Developments
        10.5. Thermo Fisher Scientific Inc.
                10.5.1. Snapshot
                10.5.2. Overview
                10.5.3. Offerings
                10.5.4. Financial Insight
                10.5.5. Recent Developments
        10.6. STEMCELL Technologies Inc.
                10.6.1. Snapshot
                10.6.2. Overview
                10.6.3. Offerings
                10.6.4. Financial Insight
                10.6.5. Recent Developments
        10.7. Qiagen NV
                10.7.1. Snapshot
                10.7.2. Overview
                10.7.3. Offerings
                10.7.4. Financial Insight
                10.7.5. Recent Developments
        10.8. Chart Industries Inc.
                10.8.1. Snapshot
                10.8.2. Overview
                10.8.3. Offerings
                10.8.4. Financial Insight
                10.8.5. Recent Developments
        10.9. VWR International LLC
                10.9.1. Snapshot
                10.9.2. Overview
                10.9.3. Offerings
                10.9.4. Financial Insight
                10.9.5. Recent Developments
        10.10. Hamilton Company
                10.10.1. Snapshot
                10.10.2. Overview
                10.10.3. Offerings
                10.10.4. Financial Insight
                10.10.5. Recent Developments
        10.11. PHC Holdings Corporation
                10.11.1. Snapshot
                10.11.2. Overview
                10.11.3. Offerings
                10.11.4. Financial Insight
                10.11.5. Recent Developments
        10.12. Avantor Inc
                10.12.1. Snapshot
                10.12.2. Overview
                10.12.3. Offerings
                10.12.4. Financial Insight
                10.12.5. Recent Developments
        10.13. AlphaCord LLC.
                10.13.1. Snapshot
                10.13.2. Overview
                10.13.3. Offerings
                10.13.4. Financial Insight
                10.13.5. Recent Developments

* Financial insight, are subject to availability of information in secondary domain.

11. Appendix

        11.1. Exchange Rates
        11.2. Abbreviations

List of Tables

Table 1 Sources
Table 2 Study Periods
Table 3 Data Reporting Unit
Table 4 Global Biobanking Market Size, by Type, 2015–2020 (USD Million)
Table 5 Global Biobanking Market Size, by Type, 2021–2027 (USD Million)
Table 6 Global Biobanking Market Size, by Offering, 2015–2020 (USD Million)
Table 7 Global Biobanking Market Size, by Offering, 2021–2027 (USD Million)
Table 8 Global Biobanking Market Size, by Application, 2015–2020 (USD Million)
Table 9 Global Biobanking Market Size, by Application, 2021–2027 (USD Million)
Table 10 Global Biobanking Market Size, by Utility Needs, 2015–2020 (USD Million)
Table 11 Global Biobanking Market Size, by Utility Needs, 2021–2027 (USD Million)
Table 12 Global Biobanking Market Size, by Region, 2015–2020 (USD Million)
Table 13 Global Biobanking Market Size, by Region, 2021–2027 (USD Million)
Table 14 North America Biobanking Market Size, by Type, 2015–2020 (USD Million)
Table 15 North America Biobanking Market Size, by Type, 2021–2027 (USD Million)
Table 16 North America Biobanking Market Size, by Offering, 2015–2020 (USD Million)
Table 17 North America Biobanking Market Size, by Offering, 2021–2027 (USD Million)
Table 18 North America Biobanking Market Size, by Application, 2015–2020 (USD Million)
Table 19 North America Biobanking Market Size, by Application, 2021–2027 (USD Million)
Table 20 North America Biobanking Market Size, by Utility Needs, 2015–2020 (USD Million)
Table 21 North America Biobanking Market Size, by Utility Needs, 2021–2027 (USD Million)
Table 22 North America Biobanking Market Size, by Country, 2015–2020 (USD Million)
Table 23 North America Biobanking Market Size, by Country, 2021–2027 (USD Million)
Table 24 Europe Biobanking Market Size, by Type, 2015–2020 (USD Million)
Table 25 Europe Biobanking Market Size, by Type, 2021–2027 (USD Million)
Table 26 Europe Biobanking Market Size, by Offering, 2015–2020 (USD Million)
Table 27 Europe Biobanking Market Size, by Offering, 2021–2027 (USD Million)
Table 28 Europe Biobanking Market Size, by Application, 2015–2020 (USD Million)
Table 29 Europe Biobanking Market Size, by Application, 2021–2027 (USD Million)
Table 30 Europe Biobanking Market Size, by Utility Needs, 2015–2020 (USD Million)
Table 31 Europe Biobanking Market Size, by Utility Needs, 2021–2027 (USD Million)
Table 32 Europe Biobanking Market Size, by Country, 2015–2020 (USD Million)
Table 33 Europe Biobanking Market Size, by Country, 2021–2027 (USD Million)
Table 34 Asia-Pacific Biobanking Market Size, by Type, 2015–2020 (USD Million)
Table 35 Asia-Pacific Biobanking Market Size, by Type, 2021–2027 (USD Million)
Table 36 Asia-Pacific Biobanking Market Size, by Offering, 2015–2020 (USD Million)
Table 37 Asia-Pacific Biobanking Market Size, by Offering, 2021–2027 (USD Million)
Table 38 Asia-Pacific Biobanking Market Size, by Application, 2015–2020 (USD Million)
Table 39 Asia-Pacific Biobanking Market Size, by Application, 2021–2027 (USD Million)
Table 40 Asia-Pacific Biobanking Market Size, by Utility Needs, 2015–2020 (USD Million)
Table 41 Asia-Pacific Biobanking Market Size, by Utility Needs, 2021–2027 (USD Million)
Table 42 Asia-Pacific Biobanking Market Size, by Country, 2015–2020 (USD Million)
Table 43 Asia-Pacific Biobanking Market Size, by Country, 2021–2027 (USD Million)
Table 44 RoW Biobanking Market Size, by Type, 2015–2020 (USD Million)
Table 45 RoW Biobanking Market Size, by Type, 2021–2027 (USD Million)
Table 46 RoW Biobanking Market Size, by Offering, 2015–2020 (USD Million)
Table 47 RoW Biobanking Market Size, by Offering, 2021–2027 (USD Million)
Table 48 RoW Biobanking Market Size, by Application, 2015–2020 (USD Million)
Table 49 RoW Biobanking Market Size, by Application, 2021–2027 (USD Million)
Table 50 RoW Biobanking Market Size, by Utility Needs, 2015–2020 (USD Million)
Table 51 RoW Biobanking Market Size, by Utility Needs, 2021–2027 (USD Million)
Table 52 RoW Biobanking Market Size, by Country, 2015–2020 (USD Million)
Table 53 RoW Biobanking Market Size, by Country, 2021–2027 (USD Million)
Table 54 Snapshot – BioLifeSolutions Inc
Table 55 Snapshot – Becton, Dickinson and Company
Table 56 Snapshot – Atlanta Biologicals Inc.
Table 57 Snapshot – Merck KGaA
Table 58 Snapshot – Thermo Fisher Scientific Inc
Table 59 Snapshot – STEMCELL Technologies Inc
Table 60 Snapshot – Qiagen NV
Table 61 Snapshot – VWR International LLC
Table 62 Snapshot – Hamilton Company
Table 63 Snapshot – PHC Holdings Corporation
Table 64 Snapshot – Avantor Inc
Table 65 Snapshot – AlphaCord LLC

List of Figures

Figure 1 Market Coverage
Figure 2 Research Phases
Figure 3 Secondary Types for Different Parameters
Figure 4 Methodology
Figure 5 Data Mining & Exploration
Figure 6 Data Triangulation
Figure 7 Assumptions for Market Estimation and Forecast
Figure 8 Market Synopsis
Figure 9 Global Biobanking Market - Growth Drivers and Restraints
Figure 10 Competitive Benchmark
Figure 11 Global Biobanking Market Highlight
Figure 12 Global Biobanking Market Size, by Type, 2015–2027 (USD Million)
Figure 13 Global Biobanking Market Size, by Offering, 2015–2027 (USD Million)
Figure 14 Global Biobanking Market Size, by Application, 2015–2027 (USD Million)
Figure 15 Global Biobanking Market Size, by Utility Needs, 2015–2027 (USD Million)
Figure 16 Global Biobanking Market Size, by Region, 2015–2027 (USD Million)
Figure 17 North America Biobanking Market Highlight
Figure 18 North America Biobanking Market Size, by Type, 2015–2027 (USD Million)
Figure 19 North America Biobanking Market Size, by Offering, 2015–2027 (USD Million)
Figure 20 North America Biobanking Market Size, by Application, 2015–2027 (USD Million)
Figure 21 North America Biobanking Market Size, by Utility Needs, 2015–2027 (USD Million)
Figure 22 North America Biobanking Market Size, by Country, 2015–2027 (USD Million)
Figure 23 Europe Biobanking Market Highlight
Figure 24 Europe Biobanking Market Size, by Type, 2015–2027 (USD Million)
Figure 25 Europe Biobanking Market Size, by Offering, 2015–2027 (USD Million)
Figure 26 Europe Biobanking Market Size, by Application, 2015–2027 (USD Million)
Figure 27 Europe Biobanking Market Size, by Utility Needs, 2015–2027 (USD Million)
Figure 28 Europe Biobanking Market Size, by Country, 2015–2027 (USD Million)
Figure 29 Asia-Pacific Biobanking Market Highlight
Figure 30 Asia-Pacific Biobanking Market Size, by Type, 2015–2027 (USD Million)
Figure 31 Asia-Pacific Biobanking Market Size, by Offering, 2015–2027 (USD Million)
Figure 32 Asia-Pacific Biobanking Market Size, by Application, 2015–2027 (USD Million)
Figure 33 Asia-Pacific Biobanking Market Size, by Utility Needs, 2015–2027 (USD Million)
Figure 34 Asia-Pacific Biobanking Market Size, by Country, 2015–2027 (USD Million)
Figure 35 RoW Biobanking Market Highlight
Figure 36 RoW Biobanking Market Size, by Type, 2015–2027 (USD Million)
Figure 37 RoW Biobanking Market Size, by Offering, 2015–2027 (USD Million)
Figure 38 RoW Biobanking Market Size, by Application, 2015–2027 (USD Million)
Figure 39 RoW Biobanking Market Size, by Utility Needs, 2015–2027 (USD Million)
Figure 40 RoW Biobanking Market Size, by Country, 2015–2027 (USD Million)