Industry Overview
The Global Biobanking Market was valued at USD 2.4 billion in 2023 and is expected to grow at a CAGR of 6.8% during the forecast period (2025-2030). Several offerings such as consumables and equipment, majorly contribute to the biobanking market size. Increasing the prevalence of chronic diseases, increasing demand for value-based care, increasing investment for genomic research, increasing awareness, robust pipeline for cell therapy are leading to the growth of the market. The global biobanking market refers to the market for the storage and management of biological samples and associated data for research and clinical purposes. Biobanks are facilities that collect, process, store, and distribute biological samples such as blood, tissue, DNA, and cells, along with relevant patient information. These samples and data are valuable resources for studying diseases, discovering new treatments, and advancing personalized medicine.The biobanking market has been growing rapidly in recent years due to several factors, including advancements in biotechnology and genomics, increased demand for personalized medicine, and rising collaborations between biobanks and research institutions. The market is driven by the need for large-scale and well-characterized sample collections to support biomedical research, drug discovery, and clinical trials.
Biobanking Market Segmentation
Insight by Storage Type
Based on storage type biobanking market is categorized into manual and automated, on the basis of the product. Among the two categories, the demand for automated biobanking storage is growing at a higher rate. The trend is anticipated to continue in the coming years due to the increasing need for automation, advancements in technology, need for storage of contamination-free samples.
Insight by Offering
Based on offerings, the biobanking market is segmented into consumables, equipment, services, and software. Consumables hold the largest share in the biobanking market, globally primarily due to the frequent purchases over the years. The market for biobanking services is anticipated to grow significantly during the forecast period as new players are emerging to provide biobanking services with novel approaches.
Insight by Application
Based on application the market is categorized into life science and medical research, clinical research, and regenerative medicine. Of all the categories, biobanking is mostly used for clinical research purposes as the need for value-based treatments for various therapeutic areas is on the rise significantly across the globe. Also, with the advancements in cell therapy, the market for regenerative medicines is also growing at a significant rate.
Insight by Utility Needs
Based on utility needs, the market is categorized into routine, research, and epidemiology. The biobanking market is anticipated to hold a significant share for research due to the increasing research funding by the large biopharmaceutical companies across the globe.
Global Biobanking Market Report Coverage
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Report Metric
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Details
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Historical Period
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2018 - 2023
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Base Year Considered
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2024
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Forecast Period
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2025 - 2030
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Market Size in 2024
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U.S.D. 2.4 Billion
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Revenue Forecast in 2030
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U.S.D. xx.x Billion
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Growth Rate
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6.8%
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Segments Covered in the Report
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By Type, By Offering, By Application and By Utility Needs
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Report Scope
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Market Trends, Drivers, and Restraints; Revenue Estimation and Forecast; Segmentation Analysis; Impact of COVID-19; Companies’ Strategic Developments; Market Share Analysis of Key Players; Company Profiling
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Regions Covered in the Report
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North America, Europe, Asia-Pacific, Middle East, South America and Rest of the World
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Industry Dynamics
Biobanking Market Growth Drivers
The growing awareness on the therapeutic potential of stem cells, increasing approval of clinical trials in using cord blood cells, advances in biobanking; increasing government funding for regenerative medicines; and development of novel technologies for stem cell preservation, storage, and processing, are the primary growth drivers for stem cell banking industry. Initiatives are taken by various companies and organizations to broaden awareness biobanking. For instance, in the U.S. CordBloodAwareness.org was formed to increase the awareness about the umbilical cord blood stem cells.
Growing global burden of chronic disease, increasing healthcare expenditure and public awareness related to the therapeutic potential of stem cells are also fueling the growth of the biobanking market. Advancements in genomics and personalized medicine: The field of genomics has witnessed significant advancements, enabling researchers to understand diseases at the molecular level. Biobanks play a crucial role in storing and providing genomic data and samples to support personalized medicine initiatives. Growing investments in biobanking infrastructure: Governments, research institutions, and pharmaceutical companies have been investing heavily in the development of biobanking infrastructure to support large-scale sample storage and management. Technological advancements: Automation and robotic systems have improved the efficiency and accuracy of sample processing and storage in biobanks. Additionally, advancements in sample tracking, data management, and quality control have further facilitated biobanking operations.
Trends
Collaborations and partnerships: Biobanks are increasingly forming collaborations and partnerships with research institutions, pharmaceutical companies, and healthcare providers to enhance sample collections, share resources, and accelerate research and development efforts. Increasing prevalence of chronic diseases: The rising incidence of chronic diseases such as cancer, cardiovascular diseases, and genetic disorders has led to a growing need for high-quality biological samples for research and development purposes. Regulatory support: Governments and regulatory bodies have implemented guidelines and regulations to ensure the ethical and responsible operation of biobanks, which has fostered trust and confidence in the industry. Growing demand for personalized and precision medicine: Biobanks play a vital role in supporting personalized medicine approaches by providing researchers and clinicians with access to well-characterized samples and associated clinical data.
Biobanking Market Challenges
The biobanking market is facing a number of challenges, including the high cost of biobanking, the lack of standardization, and the ethical concerns associated with the collection and storage of biological samples. The strict regulatory framework and high operational and processing costs are the major challenges for the growth of the biobanking market. Moreover, the socio-ethical issues associated with biobanking and the high cost of automation are impeding the growth of the global market.
Recent Developments By the Key Players
STEMCELL acquired Propagenix Inc., a Maryland-based biotechnology company specializing in technologies for regenerative medicine. This acquisition enables STEMCELL to develop products based on Propagenix's EpiX technology for clinical applications, potentially advancing treatments for cancer, airway diseases, and other disorders.
Hamilton Company partnered with Pillar Biosciences through a strategic Next-Generation Sequencing (NGS) application development and co-marketing agreement . This collaboration aims to develop automation scripts and supporting technical and commercial literature for selected NGS applications, enhancing workflow efficiency in genomic research.
Biobanking Market Geography Insight
Geographically, The North American region is the largest market for biobanking, followed by Europe and Asia Pacific. The growth of the biobanking market in North America is being driven by the increasing prevalence of chronic diseases, the rising demand for personalized medicine, and the availability of funding for biobanking research. The European biobanking market is also growing rapidly, due to the increasing awareness of the benefits of biobanking and the availability of government funding. The Asia Pacific biobanking market is expected to grow at the fastest pace during the forecast period, due to the rising prevalence of chronic diseases and the increasing investment in biobanking research in the region. Asia-Pacific is the fastest-growing biobanking industry primarily due to the high potential of China. The growth in the region is centered in China, Japan and India as these countries have been developing their Lifesciences industry infrastructure with the increasing research funding.
Biobanking Market Competitive Insight
Some of the key players operating in the global biobanking market are :
Primary Research
VynZ Research conducts extensive primary research to understand the market dynamics, validate market data and have key opinions from the industry experts. The key profiles approached within the industry include CEO, CFO, CTO, President, Vice President, Product Managers, Regional Heads, and Others. Also, end-user surveys comprising of consumers are also conducted to understand consumer behavior.
The Biobanking Market report offers a comprehensive market segmentation analysis along with an estimation for the forecast period 2025–2030.
Segments Covered in the Report
- By Type
- By Offering
- Consumables
- Equipment
- Services
- Software
- By Application
- Clinical Research
- Life Science and Medical Research
- Regenerative Medicine
- By Utility Needs
- Research
- Routine
- Epidemiology
Region Covered in the Report
- North America
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia-Pacific (APAC)
- China
- Japan
- India
- South Korea
- Rest of Asia-Pacific
- Rest of the World (RoW)
- Brazil
- Saudi Arabia
- South Africa
- U.A.E.
- Other Countries
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Source: VynZ Research
