Global Biobanks Market 2023-2030

Global Biobanks Market 2023-2030

Global Biobanks Market Size, Share & Trends Analysis Report by Equipment (Cryogenic Storage Systems, Refrigerators, Ice Machines, Freezers, Alarm Monitoring Systems, and Others), by Sample Type (Human Fluid, Cell, Human Tissue, and Organ, Nucleic Acids, and Other), and by Application (Therapeutic, Regenerative Medicine, Drug Discovery and Other), Forecast Period (2023-2030)

Global biobanks market is anticipated to grow at a CAGR of 10.1% during the forecast period (2023-2030). Biobanks are structures in charge of the collection, storage, and provision of biological samples and their associated data. The growing adoption of biobank accelerate the shared understanding of the disease and play a crucial role in the global effort to overcome disease prevalence is the key factor supporting the growth of the market globally. Biobank provides a unique, anonymous medical and biological data set that has the potential to shed light on the biology of the virus and illuminate pathways for potential vaccines, treatments, and other breakthroughs.Hence, the market players are also focusing on introducing biobank solutions that further bolster the market growth.For instance, in April 2020, Biogen Inc., Broad Institute of MIT and Harvard, and Partners HealthCare launched a consortium that built and shared a COVID-19 biobank. The biobank helps scientists study a large collection of de-identified biological and medical data to advance knowledge and search for potential vaccines and treatments.

NLDB is a first-of-its-kind national biobank, executed as a joint initiative of the Department of Biotechnology (DBT) and the Institute of Liver & Biliary Sciences (ILBS) for translational research in liver and allied diseases. NLDB is the first biobank in India certified by CTR.Net, CANADA, and accredited by ISO 20387:2018. It is contributing to three forthcoming biobanks at (i) ICMR (ii) AIIMS and (iii) NBRC. Biobank at ILBS provided 8,198 NGS, 6,510 Mass Spectrometry 3,526 cell sorting, and 8,200 animal pathology services. NLDB collected 25,000 samples and shared 8,772 bio samples in 2022.

Segmental Outlook

The global biobanks market is segmented on the equipment, sample type, and application. Based on the equipment, the market is sub-segmented into cryogenic storage systems, refrigerators, ice machines, freezers, alarm monitoring systems, and other (automated liquid handlers). Based on the sample type, the market is sub-segmented into human fluid, cells, human tissue and organs, nucleic acids, and others. Further, based on application, the market is sub-segmented into therapeutic, regenerative medicine, drug discovery, and others. Among the sample types, the cell biobanking sub-segment is anticipated to grow significantly owing to the rise in cell line generation, and growing demand in drug discovery.

The growing influence of biobanks that enable more children and young people to donate samples and along with the additional clinical data provide an invaluable resource for scientists creating opportunities for market growth. A crucially important resource as many children’s and young people's cancers are extremely rare. This has made it difficult for researchers to access sufficient samples from patients to study them. A new biobank supplies essential tools for scientists studying childhood and adolescent cancer prevention, diagnosis, and treatment. For instance, in September 2022, Newcastle and York universities joined cancer charities for a new biobank to provide vital resources for researchers working to prevent, diagnose, and treat cancer in children and young people. The $3 million VIVO Biobank is supported by the charities Cancer Research UK and Blood Cancer UK and provides cancer researchers with a centralized collection of cell and tissue samples from children and young people affected by cancer across the country.

Regional Outlook

The global biobanks market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia), and the Rest of the World (the Middle East & Africa, and Latin America. Among these, North America is anticipated to hold a prominent share of the market across the globe, owing to the increase in clinical trials and research-based innovation activities such as personalized medicines to broaden specific applications of biospecimens in research. The key market players include Becton, Dickinson and Company, Danaher Corp., QIAGEN N.V., Thermo Fisher Scientific Inc., US Biolab Corp., and others.

The Asia-Pacific Region is Expected to Grow at a Significant CAGR in the Global Biobanks Market

Among all regions, the Asia-Pacific region is anticipated to grow at a considerable CAGR over the forecast period. Regional growth is attributed to the increasing prevalence of chronic diseases and rising investments in research & development activities, and expanding healthcare infrastructure. Countries such as China, Japan, India, and South Korea have witnessed a surge in biobanks and research initiatives aimed at understanding the genetic basis of diseases and developing personalized medicine. These countries have made substantial investments in biobanking infrastructure, including the establishment of state-of-the-art biorepositories and the implementation of stringent quality measures.

For instance, in February 2023, Tata Medical Center, Kolkata, and the Indian Institute of Technology (IIT), Kharagpur, launched India’s first fully annotated, relational, de-identified cancer image bank – CHAVI. The launch of CHAVI – Comprehensive Archive of Imaging is a towering boost to cancer research in India and will enable scientists from across the globe to have free access to de-identified patient images and requisite clinical information that can be utilized for research purposes.

Market Players Outlook

The major companies serving the biobanks market include Becton, Dickinson and Company, VWR International, LLC, Hamilton Company, IC Biomedical, LLC, Taylor-Wharton International LLC, Merck KGaA, QIAGEN N.V., Thermo Fisher Scientific Inc., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in February 2023, Azenta, Inc. launched Store Pico™ (""Pico""), a novel automated cryogenic storage system designed for high-value biological samples used in the many stages of life sciences, from discovery to clinical use. Pico is an extension of their innovative lineup, providing market-leading automated cryogenic technology configured for clinical and laboratory applications.

Further, in June 2023, Nightingale Health’s strategic collaboration with UK Biobank progressed biomarker results of an additional 200,000 blood samples available to researchers globally. This large-scale release of biomarker results further increases the use of Nightingale Health’s technology in global medical research.

The Report Covers

Market value data analysis of 2022 and forecast to 2030.

Annualized market revenues ($ million) for each market segment.

Country-wise analysis of major geographical regions.

Key companies operating in the global Biobanks market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.

Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

Analysis of market-entry and market expansion strategies.

Competitive strategies by identifying ‘who-stands-where’ in the market.