The Global Biobanking Market Report is a compilation of comprehensive research studies of various aspects of the Biobanking Market. With accurate data and highly authentic information, a brilliant attempt is made to paint a true, transparent picture of the current and future situations of the global Biobanking market. Market participants can use this powerful tool when creating effective business plans or making major changes to their strategies. The report discusses the growth of the global as well as regional markets. It also throws light on high-growth segments of the global Biobanking market and how they will evolve in the years to come.
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In terms of revenue, biobanking market was valued at US$ 2202.01 Mn in 2022 growing at a CAGR of 7.1% over the forecast period (2022 – 2030).. Agilent Technologies, Inc., Becton, Dickinson and Company, Brooks Life Sciences, CloudLIMS.com, Cryo Bio System, Hamilton Company, LabVantage Solutions Inc., LabWare, LiCONiC AG, PHC Corporation, QIAGEN, Thermo Fisher Scientific Inc., and other market participants.
Biobanking market contributes to the advancement of biomedical and translational research by collecting and preserving biological samples such as blood, tissues, and nucleic acids, which are used in research to discover disease-relevant biomarkers, and further for diagnosis, prognosis, and drug response prediction. Increasing application areas of biobanking such as drug discovery, clinical research, life science research, and others are expected to be the major factors contributing towards the growth of global biobanking market over the forecast period.
Moreover, increasing funding from private and government organizations for biobanking is boosting the market growth. Furthermore, companies operating in the global biobanking market are undertaing strategic initiatives, which is supplementing the market growth. For instance, Precision Medicine Group announced the purchase of ProMedDx and GLAS, two significant biospecimen providers, in August 2019. This acquisition will assist the company in expanding its biospecimen solution space as well as increasing scientific expertise and understanding.
The rise in chronic diseases such as cancer, autoimmune diseases, and blood disorders is fueling the biobanking market’s expansion. Furthermore, increasing research and development programs in the Asia pacific Region is expected to further contribute to the market growth. However, in some developing countries biobanking investment are available in less manner, particularly in Africa, due to the high cost of installation and operation.
The covid-19 pandemic impacted the pharmaceutical and biotechnological industries worldwide. According to the World Health Organization (WHO), the covid-19 pandemic had infected nearly 2 million people by January 2021, resulting in enormous strain on the global biobanking market. When COVID-19 spread over the world, few hospitals and biobanks were adequately prepared for the influx of infected patients and high mortality rates associated with the virus. Biobanks had to communicate and search globally for the materials they required to gather and store specimens quickly.
Biobanking solutions providers have witnessed enormous increase in demand amidst the pandemic since they enabled global researchers to access the source material and data needed to conduct clinical research and trials, regardless of the COVID-19 specimens’ actual geographical location. Also, In the case of COVID-19, the Centers for Disease Control and Prevention (CDC) in the United States established recommendations for managing COVID-19 samples that served as a model for other biobanks. Furthermore, the increased promise of innovation in the biobanking services and equipment is estimated to showcase new opportunities for the growth of market participants in the biobanking market.
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Global Biobanking Market:
By Offering
- Equipment & Accessories
- Consumables
- Software
- On-Premise
- Cloud
- Services
By Function
- Sample Collection
- Sample Preparation
- Sample Analysis and Data Management
- Sample Storage
- Sample Transportation
- Others
By Application
- Drug Discovery
- Clinical Research
- Life Science Research
- Others
By Biological Sample Type
- Blood Products
- Human Waste
- Cell Lines
- Human Tissue
- Others
By End Users
- Biobanks
- Pharma and Biotech Companies
- Contract Research Organizations
- Academic and Research Institutions
- Others
By Distribution Channel
- Online
- Offline
By Region
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic Countries
- Denmark
- Finland
- Iceland
- Sweden
- Norway
- Benelux Union
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
- North America
- U.S.
- Canada
- Mexico
- Rest of North America
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