Global Biobanking Market Size, Share, Growth, Industry Trends and Forecast 2020-2030

The global biobanking market accounted 39.6 million USD in 2020 and is expected to reach 61.6 million USD by 2030 with a CAGR of 4.5% approximately during the forecast period. Biobanking is a process involving collection and preservation of biological materials which can be further used for diagnosis, biodiversity studies, and other research purposes. A biobank is a type of bio repository which is specially designed to store biological samples so that it can be further used for various other research purposes. These samples are mainly human cells, blood, biological fluids, plasma, saliva, purified DNA, bio-specimens and human waste products. The biological samples are stored in the biobanks in an appropriate environment. It helps in the detection of various human diseases and its causes by the diagnostic tests that are conducted on the stored biological samples. Biobanks also help in improving the health of people by reducing drug reactions and facilitating personalised medications.
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Market Dynamics and Factors:
The growing demand for research activities in genomics for studying various diseases, increasing applications in life sciences and R&D activities are the major factors driving the biobanks market across the globe. Additionally, factors like government funding to aid the regenerative medicine research is likely to fuel the market growth of biobanks. However, factors like high automation cost, reimbursement concerns, and lack of standardisation are restraining the market growth.
Market Segmentation:
Global Biobanking Market – By Sample Type
Blood Products
Human Tissues
Cell Lines
Nucleic Acids
Biological Fluids
Human Waste Products
Others
Global Biobanking Market – By Biobank Type
Real Biobanks
Tissue Biobanks
Population Based Biobanks
Genetic Biobanks
Disease Based Biobanks
Virtual Biobanks
Global Biobanking Market – By Product Type
Biobanking Equipment
Temperature Controlling Systems
Incubators & Centrifuges
Alarms & Monitoring Systems
Accessories & Other Equipment
Biobanking Consumables
Laboratory Information Management Systems
Global Biobanking Market – By Service
Biobanking & Repository
Lab Processing
Validation
Cold Chain Logistics
Others
Global Biobanking Market – By Application
Therapeutics
Drug Discovery & Clinical Research
Clinical Diagnostics
Others
Global Biobanking Market – By Geography
North America
U.S.
Canada
Mexico
Europe
U.K.
France
Germany
Italy
Rest of Europe
Asia-Pacific
Japan
China
India
Australia
Rest of Asia Pacific
ROW
Latin America
Middle East
Africa
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Geographic Analysis:
North America is expected to dominate the global biobanking market during the forecast period in terms of market share. Availability of advanced medical facilities; presence of key market players; growing geriatric population; investments in healthcare; and rising research activities in genomics are the major factors attributing to the market dominance of the region. For instance, the National Institute of Health funded more than 200 clinical trials on biological samples in the U.S in October 2017. According to the Hastings Centre, a non-profit organisation, around 300 million bio-specimens have been stored in various public and private biobanks in the U.S. Europe is expected to be the second most dominating market for biobanks during the forecast period. Increasing emphasis on R&D activities and government investments in the healthcare sector are the major factors attributing to the market dominance of the region. For instance, in March 2017, the UK biobank made a collaboration with GlaxoSmithKline and Regeneron Genetics Centre. According to this partnership, Regeneron sequenced all the 500,000 samples stored with the UK biobank, which were further used for clinical research. Following the exclusivity period for these pharmaceutical companies, the sequenced data will be incorporated with UK biobank to make it openly available. The Asia Pacific region is anticipated to be the fastest growing market for biobanks during the forecast period. Increasing healthcare expenditure due to rising chronic ailments; lifestyle changes; and growing healthcare sector in emerging economies like India and China are the key factors attributing towards the biobanking market growth in the APAC region.
Competitive Scenario:
The key players operating in the global biobanking market are –
Thermo Fisher Scientific, Hamilton Company, BioLife Solutions Inc., LabVantage Solutions Inc., GmbH, PrecisionMed, Tecan Trading AG, Cell&Co Bioservices, BioCision, Taylor-Wharton, Promega Corporation, Beckton Dickinson & Company.
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How will this Market Intelligence Report Benefit You?
The report offers statistical data in terms of value (US$) as well as Volume (units) till 2030.
Exclusive insight into the key trends affecting the Global Biobanking industry, although key threats, opportunities and disruptive technologies that could shape the Global Biobanking Market supply and demand.
The report tracks the leading market players that will shape and impact the Global Biobanking Market most.
The data analysis present in the Global Biobanking Market report is based on the combination of both primary and secondary resources.
The report helps you to understand the real effects of key market drivers or retainers on Global Biobanking Market business.
The 2021 Annual Global Biobanking Market offers:
100+ charts exploring and analysing the Global Biobanking Market from critical angles including retail forecasts, consumer demand, production and more
15+ profiles of top producing states, with highlights of market conditions and retail trends
Regulatory outlook, best practices, and future considerations for manufacturers and industry players seeking to meet consumer demand
Benchmark wholesale prices, market position, plus prices for raw materials involved in Global Biobanking Market type
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