Biobanks

Biobanks

Global Biobanks Market to Reach US$131.1 Billion by 2030

The global market for Biobanks estimated at US$76.5 Billion in the year 2023, is expected to reach US$131.1 Billion by 2030, growing at a CAGR of 8.0% over the analysis period 2023-2030. Physical / Real Biobanks, one of the segments analyzed in the report, is expected to record a 7.6% CAGR and reach US$99.2 Billion by the end of the analysis period. Growth in the Virtual Biobanks segment is estimated at 9.5% CAGR over the analysis period.

The U.S. Market is Estimated at US$27.1 Billion While China is Forecast to Grow at 9.1% CAGR

The Biobanks market in the U.S. is estimated at US$27.1 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$15.1 Billion by the year 2030 trailing a CAGR of 9.1% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 6.7% and 7.3% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 7.9% CAGR.

Global Biobanks Market - Key Trends & Drivers Summarized

Biobanks are specialized repositories that collect, store, and manage biological samples such as blood, tissue, DNA, and other bodily fluids for use in research and clinical studies. These samples, along with associated data, are invaluable resources for advancing medical research, understanding diseases, and developing new treatments and diagnostics. Biobanks support a wide range of research areas, including genomics, personalized medicine, epidemiology, and translational research. They provide researchers with access to high-quality, well-characterized specimens that are critical for studying disease mechanisms, identifying biomarkers, and testing new drugs and therapies.

The development and utilization of biobanks have been significantly enhanced by advancements in technology and data management. Modern biobanks employ sophisticated systems for sample collection, processing, storage, and retrieval, ensuring the integrity and traceability of specimens. The integration of high-throughput sequencing, bioinformatics, and data analytics enables the extraction of valuable insights from biobank samples, facilitating breakthroughs in medical research. Moreover, the implementation of standardized protocols and quality control measures ensures the consistency and reproducibility of research findings. Biobanks also play a crucial role in large-scale population studies and longitudinal research, providing a foundation for understanding the genetic, environmental, and lifestyle factors that contribute to health and disease.

The growth in the biobank market is driven by several factors. Firstly, the increasing prevalence of chronic and complex diseases, such as cancer and cardiovascular disorders, is driving the demand for biobanks to support research into new treatments and diagnostics. Secondly, the rise of personalized medicine and precision healthcare is boosting the need for well-characterized biological samples that can be used to develop targeted therapies and interventions. Thirdly, the growing focus on genetic and genomic research is expanding the use of biobank samples for studying the genetic basis of diseases and identifying novel biomarkers. Additionally, advancements in biobanking technologies, including automated storage systems and advanced data management platforms, are enhancing the efficiency and capabilities of biobanks. Lastly, increased funding and collaboration between academic institutions, healthcare organizations, and industry players are supporting the establishment and expansion of biobanks, driving market growth and fostering innovation in biomedical research.

Select Competitors (Total 99 Featured) -

• AMS Biotechnology (Europe) Limited
• Bay Biosciences LLC
• BioIVT & Elevating Science
• BioLifeSolutions Inc.
• Biovault Technical
• CENTOGENE NV
• CTI Biotech
• Cureline, Inc.
• Firalis S.A.
• Hamilton Company
• Merck KGaA
• ProteoGenex, Inc.
• Tecan Trading AG
• Thermo Fisher Scientific Inc.
• US Biolab Corporation, Inc.
• VWR International LLC

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