Biobanks Market Share, Size, Trends, Industry Analysis Report, By Service; By Product; By Biobanks type; By Biospecimen Type; By Ownership; By Application; By End-use; By Region; Segment Forecast, 2024 - 2032

Biobanks Market Share, Size, Trends, Industry Analysis Report, By Service; By Product; By Biobanks type; By Biospecimen Type; By Ownership; By Application; By End-use; By Region; Segment Forecast, 2024 - 2032

The global Biobanks market size is expected to reach USD 163.63 billion by 2032, according to a new study by Polaris Market Research. The report “Biobanks Market Share, Size, Trends, Industry Analysis Report, By Service; By Product; By Biobanks type; By Biospecimen Type; By Ownership; By Application; By End-use; By Region; Segment Forecast, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

A digital repository aggregates data extracted and characterized from samples stored in traditional biobanks. The virtual biobanks' database includes high-resolution images and other characteristic data related to the samples, accessible through specialized software or a web portal, eliminating the need for physical samples. Widely used in bioinformatics, virtual biobanks house 2D and 3D microscopy datasets of valuable clinical biopsy specimens, offering a practical solution to enhance sample visibility and accessibility. Researchers can utilize virtual biobanks to identify products and services, streamlining critical phases of the biobanking process. The integration of virtual systems is expected to fortify the global biobanks market in the future.

Substantial government investments are facilitating rapid advancements in genomic sequencing in clinical practice and healthcare systems. National initiatives in genomic medicine are instigating transformative changes in medical systems. The UK has initiated the world's largest genome project, a collaboration involving public and private entities, charities, and pharmaceutical companies with a £200 million investment. This project aims to fund researchers and industry stakeholders to integrate data and real-world evidence from UK health services. In a separate development, Boston, a Massachusetts-based company, secured $4.3 million in seed funding for a collaboration with Veritas Genetics, a genome sequencing company. Biobanks play a pivotal role in genomic research on infectious diseases and serve as hosts for valuable resources. The data obtained from biobanks significantly contributes to understanding the etiology of multifactorial diseases resulting from genetic mutations.

In Europe, biobanks played a crucial role in mitigating COVID-19 by providing researchers with essential samples for assessing conditions and developing vaccines and therapies. Biobanks were pivotal in research, sampling, and vaccination efforts during the pandemic. The rapid accessibility of the genome of the SARS-CoV-2 virus to the scientific community and the unprecedented speed in vaccine production would have been impossible without samples collected from infected patients.

Biobanks Market Report Highlights

In 2023, the biobanks market saw the biobanking and repository services segment take a significant lead, capturing the largest share of global revenue. This dominance is attributed to the widespread adoption of these services and the growing need to preserve biosamples for the advancement of precision medicine and disease-specific research.

In 2023, the physical/real biobanks segment established itself as the market leader, capturing the largest revenue share. These biobanks feature a well-established network, contributing significantly to the overall revenue.

The European region took command of the global market, securing the largest market share in 2023. Fueled by ongoing investments in collecting, establishing, and processing extensive datasets, the region is witnessing substantial growth. Additionally, countries like the UK, Germany, and France are actively promoting market expansion through investments in biobank solutions.

The global key market players include Charles River Laboratories, Danaher Corporation, Hamilton Company, Lonza, Merck KGaA, Precision Cellular Storage Ltd. (Virgin Health Bank), Promocell Gmbh, Qiagen, Stemcell Technologies, Taylor-Wharton, Tecan Trading AG, and Thermo Fisher Scientific Inc.

Polaris Market Research has segmented the Biobanks market report based on service, product, biobanks type, biospecimen type, ownership, application, end-use, and region:

Biobanks, Service Outlook (Revenue - USD Billion, 2019 - 2032)

Lab Processing

Biobanking & Repository

Cold Chain Logistics

Qualification/Validation

Biobanks, Product Outlook (Revenue - USD Billion, 2019 - 2032)

Biobanking Consumables

Laboratory Information Management Systems

Biobanking Equipment

Alarms & Monitoring Systems

Incubators & Centrifuges

Accessories & Other Equipment

Biobanking Equipment

Temperature Control Systems

Cryogenic Storage Systems

Thawing Equipment

Temperature Control Systems

Biobanks, Biobanks Type Outlook (Revenue - USD Billion, 2019 - 2032)

Virtual Biobanks

Physical/Real Biobanks

Population Based Biobanks

Tissue Biobanks

Disease Based Biobanks

Genetic (DNA/RNA)

Biobanks, Biospecimen Type Outlook (Revenue - USD Billion, 2019 - 2032)

Human Organs

Human Tissues

Stem Cells

Embryonic Stem Cells

Adult Stem Cells

IPS Cells

Other stem cells

Other Biospecimens

Biobanks, Ownership Outlook (Revenue - USD Billion, 2019 - 2032)

Non-profit Organizations Owned

University Owned

Private Organization Owned

National/Regional Agencies Owned

Biobanks, Application Outlook (Revenue - USD Billion, 2019 - 2032)

Drug Discovery & Clinical Research

Therapeutics

Clinical Diagnostics

Other Applications

Biobanks, End-Use Outlook (Revenue - USD Billion, 2019 - 2032)

Hospitals

CROs & CMOs

Pharmaceutical & Biotechnology Companies

Academic & Research Institutes

Biobanks, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

North America

U.S.

Canada

Europe

Germany

UK

France

Italy

Spain

Russia

Netherlands

Rest of Europe

Asia Pacific

China

India

Japan

South Korea

Indonesia

Malaysia

Australia

Rest of Asia Pacific

Latin America

Argentina

Brazil

Mexico

Rest of Latin America

Middle East & Africa

UAE

Saudi Arabia

Israel

South Africa

Rest of the Middle East & Africa