Biobanking Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Biobanking Market

The Biobanking Market size was valued at USD 25.09 billion in 2023, and the market is now projected tgrow tUSD 83.55 billion by 2032, exhibiting a CAGR of 9.0% during the forecast period of 2023-2030.

The pandemic has been anticipated tbe a bane for the entire industrial developments of various market and fields. This has affected the overall supply and demand chains of the particular market. As a result of the government's lockdown and other steps tstop the coronavirus from spreading, all supply activities were postponed, which decreased the amount of product related tthis domain. These factors the Biobanking Market growth.

Cord blood is the blood that stays in the umbilical cord after a baby is delivered. The most plentiful source of preserved and processed stem cells for use in clinical research is this one. In the biobanking industry, cord blood conservation is highly sought after, which is expected tboost market potential in the upcoming years. Researchers will be able tbetter understand the causes of prevalent conditions like Parkinson's and Alzheimer's diseases, for example, thanks tthe biobank. Additionally, a major factor in the establishment of stem cell biobanks is the rising incidence of chronic illnesses globally. Thus, the expansion of the biobanking market during the forecast period would be driven by an increase in the number of biobanks. These particular growth driving factors have been recorded tattribute the Biobanking Market Share.

It is necessary for a product market twalk with the trends in order tincreases its lucracy and profits in shares and all over revenue. A biobank's ""sustainability"" is essential tits ability tfunction and compete in the market. Even while public organizations provide financial help, long-term funding uncertainty is a major worry nowadays. A balance between the biobank's operational, financial, and social aspects is required tattain better sustainability. A biobank that is more sustainable would generate more money, which would drive the global biobanking market. In order tachieve the sustainability aim, biobanks and other industry stakeholders are currently pursuing a variety of approaches. Additionally, the bundle offers commercial tools for case study analysis and biobanks. Biobanks all throughout the world are using these tactics thelp them become more sustainable more quickly during the projected period.

Comprehensive Analysis of Biobanking Market

The segmentation of this particular market has been divided and then further subdivided intvarious categories. The market is divided intsegments based on sample storage, such as blood, cells & tissue, and others. Both market share and market value were controlled by the blood category on the global market. The market is divided according tapplication intlife science, regenerative medicines, and other categories. Market dominance was held by the life science sector. Academic medical institutions and pharmaceutical and biotechnology businesses are the twsettings intwhich the biobanking market is divided.

With a market size of billions, Europe controlled the market. This dominance is explained by the existence of reputable biobanks in the Nordic nations, including Denmark, Sweden, and Norway. Roughly all Icelanders have given DNA, which is securely and secretly kept in the biobanks, according tan article published in Global Engage, a conference and summit organizer for the pharmaceutical and life science industries. The European biobank market is expanding in size as a result of these contributions and the increasing availability of samples. The region is expected tmaintain a significant proportion during the projected period.

Global markets are fiercely competitive and highly fragmented. Due ttheir creative packaging solutions, a few group of large market companies hold a fair amount of market share. Some of the major Companies includes Medizinische Universität Graz (Austria), UK Biobank (England), Shanghai Zhangjiang Biobank (China), Isenet Biobanking (Italy), Hamilton Company (U.S.), ThermFisher Scientific Inc. (U.S.), ProMedDx (U.S.), IBBL (Bangladesh), Brooks Life Sciences (U.S.), and ASKION (Germany).

In March 2021, This particular company has attributed the market growth in terms of revenue and shares system. The U.K. Biobank declared that they had expanded their database with additional information from a study that quantifies the variety of circulation metabolomics indicators. A Finnish company called Nightingale Health, which specializes in blood biomarker technologies, conducted the trials, which involved 120,000 people.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2015-2026

Base Year 2018

Forecast Period 2019-2026

Historical Period 2015-2017

Unit Value (USD billion)

Segmentation By Sample Storage

Blood

Cells & Tissues

Others

By Application

Regenerative Medicines

Life Science

Others

By Settings

Academic Medical Institutions

Pharmaceutical & Biotechnological Companies

By Geography

North America (U.S. and Canada)

Europe (U.K., Germany, France, Italy, Spain, Scandinavia, and Rest of Europe)

Asia-Pacific (Japan, China, India, Australia, Southeast Asia, and Rest of Asia- Pacific)

Latin America (Brazil, Mexico, and Rest of Latin America)

Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)