Global Biobanking Market- By Product and Services (Equipment, Consumables, and Software & Services), By Sample Type (Blood Products, Human Tissues, Cell Lines, Nucleic Acids), By Application (Regenerative, Life Sciences), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends, and Forecast 2023-2032

Report Overview

The global bio-banking market size is expected to be worth around USD 88.7 billion by 2032 from USD 48.9 billion in 2022, growing at a CAGR of 6.3% during the forecast period from 2022 to 2032.

Due to the rising number of health issues and diseases for which no vaccination process or medicinal treatment has been developed, which necessitates the use of biobanks to collect samples and preserve biological materials for future reference, the global biobanking market is one of the fastest-growing markets in the medical and health sector. Biobanking markets are advanced market structures that use technology to preserve and collect materials, biological data, and samples for use in the future. They also gather information about various diseases, study the effects of multiple conditions, and try to find a cure. The rise in the number of applications for biobank samples has increased the demand for biobanking equipment, which has contributed to the expansion of the market.

The demand for the global market has also increased due to healthcare companies’ investments in research and development and the number of research activities. Not only is biobanking expanding, but it is also facilitating the rapid expansion of its complementary markets. The cryogenic market, for instance, is primarily in charge of providing these businesses with storage facilities for preserving cells, blood, tissues, and other biological materials.

Market Scope

Product and Services Analysis

The Global Biobanking Market is Expected to be dominated by Equipment Category.

By product and services, the market is segmented into consumables, equipment, and software & services. The global biobanking market is estimated to be dominated by the equipment category. The demand for biobanking devices is rising due to factors like the rise in biobanks and the number of bio-samples that need to be stored.

Sample Analysis

The Blood Segment Dominates the Market by Increasing the Need for Samples

The market is divided into blood, tissue, cells, and other segments based on sample storage.  The blood segment dominated the global market regarding market share and value. Due to an increase in the prevalence of infectious diseases and the need for blood sample collection, preventative measures, storage, and distribution have primarily developed in nations worldwide. Because they contain RNA and DNA that are utilized in research activities, blood samples are regarded as essential bio-specimens. As a result, the pharmaceutical industry and academic medical institutions are the primary customers of the biobank for blood samples. The trans-hit bio database indicates that, compared to other sample types, the industry requires 85% of blood samples for non-cancerous studies.

Additionally, it is anticipated that cells and tissues will emerge as the global market’s fastest-rising segment. The demand for more cells and tissue samples to study complex diseases like cancer and Alzheimer’s drives the fastest growth. Due to lower distribution and demand, other samples, like hair and urine, are expected to experience slower growth over the forecast period.

Application Analysis

Life Science Segment Will Dominate the Market by Rising Demand for Samples from Academic Institutions

The market is divided into life science, regenerative medicines, and other applications. The life science sector dominated the market. The expansion of sample distribution to pharmaceutical R&D and academic institutions for clinical applications is responsible for the dominance. Scientists are under pressure due to the need for cures and the rising prevalence of complex diseases. Additionally, it is anticipated that the regenerative medicine sector will expand at the largest CAGR over the forecast period. In addition, clinical trials of regenerative medicines for different uses have been conducted in conjunction with pharmaceutical companies and research institutions worldwide.

Biobank samples are in high demand as a result of upcoming clinical studies. For instance, SanBio Group’s SB623 cell therapy received regenerative medicine advanced therapy designation from the US Food and Drug Administration in September 2019. The use of cell therapy to treat traumatic brain injury is the subject of phase 2 clinical trial. It is anticipated that the rising demand for personalized medicine will have a significant impact on human health. As a result, the regenerative market will likely see a rise in demand for high-quality biobank samples in the coming years.

Key Market Segments

Based on Product and Services

• Equipment
• Consumables
• Software & Services

Based on the Sample Type

• Blood Products
• Human Tissues
• Cell Lines
• Nucleic Acids
• Other Sample Types

Based on Application

• Regenerative
• Life Sciences
• Other Applications

Market Dynamics

Drivers

A Rise in Population Along with the Expenditure.

Due to increased expenditures and rising populations by public and private healthcare providers for the establishment of various biobanks to collect tissues, samples, and blood that could be used for further research to discover medications and cures for various diseases, the biobanking market has seen diversified expansion across all segments and regions.

Increasing Demand for the Global Market Equipment.

Second, there has been a significant rise in demand for global market equipment due to the expansion of research into various diseases. It has improved the overall structure of the market. Additionally, the biobanking market share has increased due to the development of low-cost medicines, the need for multiple types of research, and the rising demand for cost-effective drug discovery.

A Rise in Awareness by Various Healthcare Programs

The ever-increasing health awareness programs and missions, which have motivated people worldwide to improve their health status and be aware of the diseases that can affect them in any way, have been another primary driver in the global market. Additionally, the preservation of newborn cord blood stem cells has expanded the scope of application for the worldwide biobanking market in recent years.

Restraints

A Large Amount of Money is required to Set-Up Biobanking Companies.

The biobanking market has been expanding quickly, but some factors have slowed down the market’s growth. One of these things is that a lot of money needs to be invested first in setting up biobanking companies. This makes it hard for new players to enter the market.

Acquiring Bio-Specimen is a Time-Consuming and Lengthy Procedure.

The difficulties associated with acquiring bio-specimen samples, a time-consuming process that necessitates the completion of several severe complications and procedures, are another critical factor that prevents biobanking from gaining a larger market share. The majority of patients are disqualified as a result of this lengthy and time-consuming procedure.

Unaffordable Cost of Biobanking Equipment.

The high cost of biobanking equipment is another major constraint observed recently. This prevents most patients from participating because they lack the necessary financial resources. It also affects the biobanking market share because it cannot serve various patients from various social classes.

Trends

The Revenue Generation Will Increase with the Increasing Sustainability, which Will Lead to Prominent Growth in Global Biobanking Market.

A biobank’s “sustainability” is crucial to remain effective and operative. Insecurity regarding long-term funding is a significant concern despite financial support from public organizations. The biobank must balance its operational, social, and economic aspects to become more sustainable. The global biobanking market would grow due to increased revenue generation from the biobank’s increased sustainability. Biobanks and several industry stakeholders are pursuing various strategies to achieve the sustainability objective. Based in the Netherlands, the Biobanking and Biomolecular Resources Research Infrastructure (BBMRI) has produced a series on sustainable biobanking. This series includes nine recommendations for biobanks to achieve sustainability, such as taking a user-centered perspective, selecting a business model, creating a business plan, and so on. Business tools for biobanks and case study analysis are also included in the set. Throughout the forecast period, biobanks worldwide will benefit from such strategies to achieve faster sustainability.

COVID-19 Impact Analysis

COVID-19 cause a negative impact on the global bio-banking market.

The COVID-19 pandemic, also known as the novel coronavirus, has had a negative impact on the biobanking industry because the rising number of COVID-19 cases has increased the risks associated with the collection, storage, and processing of human bio-specimens and all biological materials, which would result in a greater spread of viruses and other infections during this pandemic. Several biobanking companies that were still collecting samples of human cells and tissues have noticed that the collected samples for cancer treatment are infected with SARS CoV-2 and are a carrier of the lethal virus, making them a threat to the majority of biobanking companies. On the other hand, several actions have been taken. In order to collect samples of SARS Cov-2 from a large base population and serve as a research base for all genomic research and healthcare system development, resources were used to build structures at low levels. This was done to prevent the pandemic from spreading by developing vaccines.

Regional Analysis

Europe dominates the global bio-banking market during the forecast period.

The market was dominated by Europe, with a value revenue share of 32.5%. Biobanks that have been around for a long time in Nordic nations like Sweden, Denmark, Norway, and others are responsible for this dominance. An article published in Global Engage, a company that organizes conferences and summits for the life science and pharmaceutical industries, claims that approximately forty percent of Iceland’s population has contributed DNA, privately and securely stored in the biobanks. The European biobank market is expanding due to these contributions and an increasing supply of samples. Additionally, one of the reasons for the region’s more significant market share is the pharmaceutical industry’s ongoing R&D efforts. Because of the numerous clinical trials conducted by research institutions and pharmaceutical companies, North America currently occupies the second position in this market.

Additionally, a factor in North America’s geographical location is the growing use of virtual biobanks made possible by technological advancements. Due to increased sales of blood and cell samples to academic medical institutions for research purposes, Asia Pacific is anticipated to experience a higher CAGR over the forecast period. The biobank market in the Asia-Pacific region is also expected to grow during the forecast period due to rising investments in well-structured biobanks. However, due to lower investments and ethical issues in the upkeep of biobanks, the Middle East & Africa, and Latin America are likely to experience significantly lower market value growth.

Key Regions

• North America
  • The US
  • Canada
  • Mexico
• Western Europe
  • Germany
  • France
  • The UK
  • Spain
  • Italy
  • Portugal
  • Ireland
  • Austria
  • Switzerland
  • Benelux
  • Nordic
  • Rest of Western Europe
• Eastern Europe
  • Russia
  • Poland
  • The Czech Republic
  • Greece
  • Rest of Eastern Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Australia & New Zealand
  • Indonesia
  • Malaysia
  • Philippines
  • Singapore
  • Thailand
  • Vietnam
  • Rest of APAC
• Latin America
  • Brazil
  • Colombia
  • Chile
  • Argentina
  • Costa Rica
  • Rest of Latin America
• Middle East & Africa
  • Algeria
  • Egypt
  • Israel
  • Kuwait
  • Nigeria
  • Saudi Arabia
  • South Africa
  • Turkey
  • United Arab Emirates
  • Rest of MEA

Key Players Analysis

Millions of samples are Projected for Storage at Biobanks Graz and Shanghai Zhangjiang Biobank.

With several global banks, the global biobanking market is consolidated. Some biobanks are population-based, while others focus on diseases. Cell-specific biobanks, tissue banks, blood biobanks, and numerous other banks also support the market. A publicly-funded biobank with approximately 20 million sample collection facilities is Biobank Graz. Biobank Graz distributes scientific and ethical samples to academic institutions globally using automation technology. Additionally, it is called as a major biomedical research center. Similarly, biobanks with distribution strategies and extensive storage facilities are expected to help raise the global market’s value.

A few prominent market players are Promega Corporation, Qiagen N.V., Bay Biosciences LLC, VWR Corporation, Biokryo GmbH, TTP Labtech Ltd, Dickinson And Company, Merck KGaA, Biobank AS, Cureline Inc., ProteoGenex Inc., STEMCELL Technologies Inc., Avantor Inc., Biorep Technologies Inc., LabVantage Solutions Inc., AMS Biotechnology Ltd., Panasonic Healthcare Holdings Co. Ltd, Chart Industries, Inc., ASKION GmbH, Greiner Holding AG, AMSBIO LLC, CSols Ltd, Cell&Co BioServices, RUCDR Infinite Biologics, Brooks Automation Inc., AMS Biotechnology (Europe) Ltd., International GmbH, Merck & Co., Greiner AG, Firalis SA, and other key companies.

Key Industry developments

• In May 2022– Following a competitive procurement process, BC Platforms (BCP) was awarded a multi-year contract to collaborate with three Finnish Hospital District-owned Clinical Biobanks (Clinical Biobanks) to enhance access to and automated management of phenotypic, clinical data, and genomic. The project bolsters Finland’s goal of becoming a global leader in Real-World Data (RWD) research, aids in creating novel treatments, and improves the resilience of healthcare systems.
• In May 2022– Phenomix Sciences (Phenomix) started its biobanking registry and results study. By collecting patients’ DNA, hormones, metabolomics, and behavioral assessments in relation to treatment outcomes, the registry will evaluate variability in obesity treatment response. The Phenomix Sciences Obesity Platform contains 20 billion unique data points, which the collected data will enhance.

Listed below are some of the most prominent global biobanking market players.

Market Key Players

• UK Biobank
• IBBL
• Shanghai Zhangjiang Biobank
• Thermo Fisher Scientific Inc.
• Isenet Biobanking
• Brooks Life Sciences
• Hamilton Company
• ASKION
• Other Key Players.

Report Scope