Pune, March 11, 2025 (GLOBE NEWSWIRE) -- Biobanking Market Size & Growth Analysis:
According to SNS Insider, the global Biobanking Market size was valued at USD 76.18 billion in 2023, is anticipated to reach USD 160.75 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 8.67% from 2024 to 2032. This growth is driven by technological improvements in genomics, precision medicine, and rising investments in biobank facilities.
Market Overview
The biobanking sector has come a long way, from being old-fashioned stores of biological specimens to strategic part of contemporary medical research and individualized healthcare. Biobanks currently include large repositories of biospecimens coupled with detailed personal and health information such as genetic information, lifestyle information, and medical history. This convergence enables progress in disease investigation, pharmaceutical development, as well as the practice of precision medicine interventions. The growth of the industry is further complemented by strong infrastructural and economic investments, highlighting the central role that biobanking plays in the healthcare of the modern era.
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Major Players Analysis Listed in this Report are:
- Thermo Fisher Scientific Inc. – CryoStor, HypoThermosol, LIMS, Cryogenic Storage Systems, Sample Storage Tubes
- Merck KGaA – Cryopreservation Media, Biobanking Reagents, Cell Culture Media
- Qiagen – QIAsymphony, QIAcube, PAXgene Blood RNA System
- Hamilton Company – BiOS Biobank Storage Systems, SAM HD, Verso Q-Series
- Tecan Trading AG – Freedom EVO, Fluent Laboratory Automation Solutions
- Danaher Corporation – Beckman Coulter Biobanking Solutions, Cytiva Biorepository Services
- Becton, Dickinson, and Company (BD) – BD Vacutainer, BD Biosciences Sample Preparation Solutions
- Biocision, LLC. – CoolCell, CoolRack, ThawSTAR
- Taylor-Wharton – Cryogenic Freezers, LN2 Storage Tanks
- Charles River Laboratories – Biobanking & Repository Services, Cell Line Authentication
- Lonza – L7 LIMS, Cell Culture Solutions, Biospecimen Processing
- Stemcell Technologies – CryoStor, STEMdiff, mTeSR Media
- Biovault Family – Stem Cell Storage Solutions, Cryopreservation Services
- Promocell GmbH – Human Primary Cells, Cryopreserved Cell Products
- Precision Cellular Storage Ltd. (Virgin Health Bank) – Stem Cell Banking, Umbilical Cord Blood Storage
Biobanking Market Report Scope
| Report Attributes | Details |
| Market Size in 2023 | US$ 76.18 Billion |
| Market Size by 2032 | US$ 160.75 Billion |
| CAGR | CAGR of 8.67% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Key Regional Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East]), Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
Segmentation Analysis
By Product:
In 2023, the biobanking equipment segment of the market shared 77.3% of total revenue. This is owed to the fundamental role played by sophisticated equipment to ensure proper specimen collection, processing, and storage, thus sustaining sample integrity and enabling reliable research results. At the same time, the Laboratory Information Management Systems (LIMS) segment is expected to grow at the highest rate. The growth in the adoption of LIMS is fueled by the demand for effective data management, tracking of samples, and integration features, which improve operational efficiency and accuracy of data in biobanking operations.
By Service:
The biobanking and repository services segment accounted for the highest revenue market share in 2023, as a result of the increasing need for systematic storage solutions and the storage of biospecimens for research and clinical purposes. The services play a vital role in supporting disease-specific research and the establishment of personalized therapies. On the other hand, the qualification and validation services segment is expected to see high growth. This growth is attributed to the growing necessity to adhere to regulatory requirements, guarantee the quality and reliability of biospecimens, and validate biobanking processes, thus improving the validity of research results.
By Biospecimen Type:
Human tissues were the largest market segment in 2023, owing to their essential role in the study of disease mechanisms, biomarker identification, and the development of targeted therapies. The presence of well-preserved human tissue samples facilitates researchers to perform translational research that closes the gap between laboratory results and clinical use. The category of stem cells will witness the largest growth rate, as a result of growing interest in regenerative medicine and the capability of stem cells to cure different diseases. The characteristic features of stem cells, such as their differentiation into various cell types, make them highly beneficial for creating new therapeutic strategies.
By Biobank Type:
Physical or real biobanks led the market in 2023, driven by their existing infrastructures and reliable methods of collecting, storing, and distributing biological samples. These biobanks are primary resources for biomedical research, and they offer good-quality biospecimens to researchers globally. Virtual biobanks, however, are expected to grow at the most rapid pace. Virtual biobanks' expansion is supported by the improvement of digital technologies that enable efficient data sharing on samples and increase inter-researcher collaboration irrespective of location. The model provides solutions to biospecimen access problems and encourages existing sample usage, thus accelerating research.
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Biobanking Market Segments
By Product
- Biobanking Equipment
- Temperature Control Systems
- Incubators & Centrifuges
- Alarms & Monitoring Systems
- Accessories & Other Equipment
- Biobanking Consumables
- Laboratory Information Management Systems
By Service
- Biobanking & Repository
- Lab processing
- Qualification/ Validation
- Cold Chain Logistics
- Other Services
By Biospecimen Type
- Human Tissues
- Human Organs
- Stem Cells
- Adult Stem Cells
- Embryonic Stem Cells
- IPS Cells
- Other Stem Cells
- Other Biospecimens
By Biobanks Type
- Physical/Real Biobanks
- Tissue Biobanks
- Population Based Biobanks
- Genetic (DNA/RNA)
- Disease Based Biobanks
- Virtual Biobanks
By Application
- Therapeutics
- Drug Discovery & Clinical Research
- Clinical Diagnostics
- Other Applications
By Biobanks Ownership
- University Owned
- National/Regional Agencies Owned
- Non-profit Organizations Owned
- Private Organization Owned
By End-use
- Pharmaceutical & Biotechnology Companies
- CROs & CMOs
- Academic & Research Institutes
- Hospitals
Recent Developments in the Biobanking Market
- January 2025: The UK Biobank began the largest protein study in the world, scrutinizing data from 54,000 individuals to identify disease risk more accurately. Conducted by Professor Claudia Langenberg at Queen Mary University, this study highlights the power of large-scale proteomics in biomedical research, a major step forward for precision healthcare.
- October 2024: India's National Accreditation Board for Testing and Calibration Laboratories (NABL) launched a new biobanking accreditation program in accordance with the ISO 20387:2018 standard. Rolled out during an event in Delhi, it will promote the quality and standardization of biobank operations nationwide.
- July 2024: LPKF, a world leader in industrial laser systems, reported the move of its headquarters to a new building in Lake Mary, Florida. The 50,000-square-foot building is intended to accommodate the growing demand for laser systems in material processing and other applications that use welding and cutting technology.
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Table of Contents – Major Key Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics Impact Analysis
5. Statistical Insights and Trends Reporting
6. Competitive Landscape
7. Biobanking Market by Product
8. Biobanking Market by Service
9. Biobanking Market by Biospecimen Type
10. Biobanking Market by Biobanks Type
11. Biobanking Market by Application
12. Biobanking Market by Biobanks Ownership
13. Biobanking Market by End-use
14. Regional Analysis
15. Company Profiles
16. Use Cases and Best Practices
17. Conclusion
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