Biobanks Market Size Worth $163.63 Billion By 2032, CAGR 9.0%

Biobanks Market Size Worth $ 163.63 Billion By 2032 | CAGR: 9.0%


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.

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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

Biobanks Market Report Scope

Report Attributes

Details

Market size value in 2024

USD 82.27 billion

Revenue Forecast in 2032

USD 163.63 billion

CAGR

9.0% from 2024 – 2032

Base year

2023

Historical data

2019 – 2022

Forecast period

2024 – 2032

Quantitative units

Revenue in USD billion and CAGR from 2024 to 2032

Segments Covered

By Service, By Product, By Biobanks type, By Biospecimen Type, By Ownership, By Application, By End-use, By Region

Regional scope

North America, Europe, Asia Pacific, Latin America, Middle East & Africa

Customization

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  • Industry outlook
  • Competitive landscape
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