North America Biobanking Market Report and Forecast 2024-2032

North America Biobanking Market Report and Forecast 2024-2032

North America Biobanking Market Report and Forecast 2024-2032

North America Biobanking Market Outlook

North America biobanking market size was valued at USD 1.1 billion in 2023, driven by the rising prevalence of chronic diseases and the growing demand for effective treatments in the region. The market is expected to grow at a CAGR of 6.30% during the forecast period of 2024-2032, with the values likely to rise from USD 1.2 billion in 2024 to USD 2 billion by 2032.

Key Takeaways

• According to the Centers for Disease Control and Prevention, 6 out of 10 Americans are affected by at least one chronic disease.
• In December 2023, a team of researchers developed a suite of computational tools that can reconstruct a three-dimensional picture of the brain from brain biobanks, which can help advance the understanding of neurodegenerative diseases.
• In December 2023 , New York-based Wilmot Cancer Institute received a grant worth USD 339,850 from Empire State Development (New York State funds).

North America Biobanking Market Analysis

Biobank is a type of biorepository containing large collections of biological materials (usually human). The large-scale biomedical database acts as a research resource to facilitate new scientific discoveries. Biological samples in biobanks can act as a vital tool for medical research and accelerate the development of new and innovative treatments.

North America biobanking market growth is driven by the rising prevalence of chronic diseases, such as cancer, cardiovascular diseases, and diabetes, in the region. According to the Centers for Disease Control and Prevention, 6 out of 10 Americans are affected by at least one chronic disease. Moreover, chronic diseases not only rank as the leading causes of death and disability in America but are also a major driver of healthcare costs. Biobanks help in studying the genetic and environmental factors resulting in chronic diseases. Thus, with the growing prevalence of chronic diseases, the demand for biological samples in biomedical research is expected to rise, which will boost the market growth.

Technological advancements such as the development of computational tools to analyze huge volumes of complex data in biobanks are expected to boost the North America biobanking market demand in the forecast period. In December 2023, a study primarily funded by the National Institute of Aging (a division of the United States National Institutes of Health) revealed the development of a suite of free computational tools that can analyze brain dissection photographs from brain biobanks and reconstruct a three-dimensional picture of the brain, which can help to understand neurodegenerative diseases and find their potential treatments. Thus, data from biobanks is increasingly used to advance the understanding of various brain disorders, which are anticipated to propel the market demand.

North America biobanking market share is likely to be positively impacted by increased fundings from government organizations to improve biobanking infrastructure and support research initiatives. In December 2023 , New York-based Wilmot Cancer Institute (leader in cancer care and research) received a grant worth USD 339k from Empire State Development (New York State funds). The funding will help in renovations and the establishment of new technology for the institute’s Biobank Shared Resource. Such investments will support biobank upgrades and are likely to augment market size in the region.

North America Biobanking Market Segmentation  

The report offers a detailed analysis of the market based on the following segments:

Market Breakup by Equipment

• Cryogenic Storage Systems
• Alarm Monitoring Systems
• Others

Market Breakup by Media

• Optimized Media
• Non-Optimized Media
• Others

Market Breakup by Services

• Human Tissue Biobanking
• Stem Cell Biobanking
• Cord Banking
• DNA/RNA Biobanking
• Others

Market Breakup by Biospecimen Type

• Human Tissues
• Human Organs
• Stem Cells
• Others

Market Breakup by Application

• Drug Discovery
• Disease Research
• Others

Market Breakup by End User

• Hospitals
• Cosmetology Clinics
• Ambulatory Surgical Centers
• Others

Market Breakup by Countries

• United States of America
• Canada

North America Biobanking Market: Competitor Landscape

The key features of the market report include patent analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the market are as follows:

• Atlanta Biologicals Inc. (Bio-Techne Corporation)
• Becton, Dickinson and Company
• BioLifeSolution Inc.
• Chart Industries Inc.
• Hamilton Company
• Qiagen NV
• Sigma-Aldrich Inc. (Merck KGaA)
• STEMCELL Technologies Inc.
• Thermo Fisher Scientific Inc.
• VWR International LLC

Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

FAQs

• What was the North America biobanking market value in 2023?

The market attained a value of about USD 1.1 billion in 2023 driven by the rising prevalence of chronic diseases and the growing demand for effective treatments in the region.

• What is the North America biobanking market forecast outlook for 2024-2032?

The market is anticipated to grow at a CAGR of 6.31% during the forecast period of 2024-2032, likely to reach a market value of USD 2 billion by 2032.

• What are the major factors aiding the North America biobanking market demand?

The growing demand for precision medicine and the rising funding from the government are fuelling the demand for the market.

• What are the major North America biobanking market trends?

One of the significant trends in the market is technological advancements such as the development of computational tools to analyze huge volumes of complex data in biobanks. In December 2023, researchers developed a suite of computational tools that can reconstruct a three-dimensional picture of the brain from brain biobanks, which can help advance the understanding of neurodegenerative diseases.

• What is the market segmentation based on equipment?

Based on the equipment, the market is segmented into cryogenic storage systems, and alarm monitoring systems, among others.

• What are the various services available in the market?

Services available in the market include human tissue biobanking, stem cell biobanking, cord banking, and DNA/RNA biobanking, among others.

• What is the market breakup by biospecimen type?

By biospecimen type, the market is divided into human tissues, human organs, and stem cells, among others.

• What is the market segmentation based on the media?

The market breakup by media includes optimized media and non-optimized media, among others.

• What are the major end users of biobanking?

End users of the market are hospitals, cosmetology clinics, and ambulatory surgical centers, among others.

• What are the applications of biobanking?

Major application areas of biobanking include drug discovery and disease research, among others.

• What is the market segmentation by countries?

The market segmentation by countries includes the United States of America and Canada.

• Who are the key players involved in the North America biobanking market?

The key players in the market are Atlanta Biologicals Inc. (Bio-Techne Corporation), Becton, Dickinson and Company, BioLifeSolution Inc., Chart Industries Inc., Hamilton Company, Qiagen NV, Sigma-Aldrich Inc. (Merck KGaA), STEMCELL Technologies Inc., Thermo Fisher Scientific Inc., and VWR International LLC.

Meta description

The North America biobanking market size was valued at USD 1.1 billion in 2023 and it is anticipated to grow at a CAGR of 6.31% during the forecast period of 2024-2032.

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