IMARC Group’s report titled “Biobanking Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, Offers a comprehensive analysis of the industry, which comprises insights on the market. The global biobanking market size reached US$ 57.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 82.3 Billion by 2028, exhibiting a growth rate (CAGR) of 5.86% during 2023-2028.
· Increasing Demand for Personalized Medicine:
The global biobanking market is experiencing significant growth due to the increasing demand for personalized medicine. Personalized medicine involves tailoring medical treatments and healthcare decisions to individual patients based on their genetic makeup and other unique characteristics. Biobanks play a crucial role in this by storing and providing access to vast collections of biological samples, including tissues, DNA, and blood, along with associated clinical and demographic data. The rise of personalized medicine has created a need for large, diverse biobanks that can supply researchers and pharmaceutical companies with the necessary materials to develop and test targeted therapies. These biobanks enable scientists to identify biomarkers, study disease progression, and discover new treatments tailored to specific patient populations. As a result, the demand for high-quality biobanking services has increased, driving growth in the global biobanking market.
· Advancements in Biobanking Technologies:
Another key factor driving the global biobanking market is the continuous advancement of biobanking technologies. Traditional biobanking methods have evolved significantly in recent years, transitioning from manual and labor-intensive processes to automated and high-throughput systems. These advancements have improved sample preservation, tracking, and retrieval, ensuring the integrity of stored samples and data. Emerging technologies such as cryopreservation, robotic sample handling, and biobanking software solutions have revolutionized the industry. Automated sample management systems allow for greater efficiency and accuracy in sample storage and retrieval, reducing the risk of sample degradation and ensuring the long-term viability of stored materials. As biobanking technologies continue to evolve, they attract more investments and contribute to the expansion of the global biobanking market.
· Growing Collaborations and Partnerships:
Collaborations and partnerships between biobanks, research institutions, pharmaceutical companies, and healthcare providers are playing a crucial role in driving the global biobanking market. These partnerships facilitate the exchange of biological samples and data, enabling researchers to access larger and more diverse sample collections for their studies. Pharmaceutical companies, in particular, are increasingly recognizing the value of biobanks in drug development. Collaborative efforts between biobanks and pharmaceutical firms expedite the discovery and validation of drug targets, enhance the development of precision medicine therapies, and accelerate clinical trials. Moreover, governments and regulatory bodies are encouraging such collaborations by establishing guidelines and standards for ethical and responsible biobanking practices.
For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/biobanking-market/requestsample
Leading Companies Operating in the Global Biobanking Industry:
Brooks Automation Inc.
Bay Biosciences LLC
Boca Biolistics
Ctibiotech
Cureline Inc.
Firalis
Greiner Bio-One International GmbH
Hamilton Company
Merck KGaA
ProteoGenex Inc.
Thermo Fisher Scientific Inc.
VWR Corporation (Avantor Inc.)
Blood Products
Solid Tissue
Cell Lines
Nucleic Acid
Others
Blood products dominate the market as they are frequently collected, widely utilized in various medical treatments, and serve as a critical component in healthcare, including transfusions and diagnostics.
Population-based Biobanks
Disease-oriented Biobanks
Disease-oriented biobanks hold maximum number of shares due to their focus on collecting and storing biological samples specifically associated with various diseases, making them highly valuable resources for disease research and drug development.
Therapeutics
Research
Research represented the largest segment as encompasses a wide range of fields, including academic research, pharmaceutical research, and disease-specific studies, making it the most diverse and extensive category within the market.
Academic Institutions
Pharma and Biotech Companies
Academic institutions dominate the market as they frequently engage in research activities that require access to biobanked biological samples and data for a wide range of scientific studies and medical research projects.
North America (United States, Canada)
Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa
Europe’s dominance in the biobanking market is attributed to its well-established healthcare infrastructure, robust regulatory framework, and extensive investments in biobanking initiatives, which have fostered the growth of the biobanking industry in the region.
The global increase in the prevalence of chronic diseases, such as cancer, diabetes, and cardiovascular disorders, has driven the demand for biobanking services. Biobanks play a crucial role in collecting and preserving biological samples from patients with these conditions, which are invaluable for research aimed at understanding disease mechanisms, identifying biomarkers, and developing targeted therapies. The need for a comprehensive repository of samples from diverse patient populations continues to propel the biobanking market forward.
Additionally, the expansion of genomic research has significantly contributed to the growth of the biobanking market. Genomic studies, including genome-wide association studies (GWAS) and whole-genome sequencing, rely on large-scale biobanks to access genetic samples and associated clinical data. Researchers use these resources to explore genetic variations, hereditary factors, and genetic predispositions to diseases. The increasing emphasis on precision medicine and the quest to unravel the genetic basis of health and disease continue to fuel demand for biobanking services globally.
Key Highlights of the Report:
Market Performance (2017-2022)
Market Outlook (2023-2028)
Porter’s Five Forces Analysis
Market Drivers and Success Factors
SWOT Analysis
Value Chain
Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARCs information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
Contact US:
IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
Email: sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
United States: +1-631-791-1145 | United Kingdom: +44-753-713-2163
