The global biobanks market is experiencing a period of significant growth, driven by the increasing demand for high-quality biological samples and data for research and development in various fields, including pharmaceuticals, diagnostics, and personalized medicine. Valued at USD 75.84 billion in 2023, the market is projected to reach USD 163.63 billion by 2032, exhibiting a CAGR of 9.0% during the forecast period.
Some of the major players operating in the global market include:
- Becton, Dickinson, and Company (BD)
- Biocision, LLC.
- Biovault Family
- 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
- Thermo Fisher Scientific Inc.
Market Drivers:
- Advancements in Precision Medicine: The growing emphasis on personalized medicine, which aims to tailor treatments to individual patients based on their genetic makeup and other biological factors, is driving the demand for biobanks.
- Drug Discovery and Development: Biobanks play a crucial role in drug discovery and development by providing access to a diverse range of biological samples, such as DNA, RNA, and tissues, for research and clinical trials.
- Growing Prevalence of Chronic Diseases: The increasing prevalence of chronic diseases, such as cancer, diabetes, and cardiovascular diseases, is driving the need for better disease understanding and the development of more effective treatments.
- Technological Advancements: Advancements in technologies such as genomics, proteomics, and metabolomics are enabling researchers to extract more valuable information from biobank samples, accelerating scientific discovery.
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Biobanks Market, Service Outlook (Revenue, USD Billion, 2019-2032)
- Lab Processing
- Biobanking & Repository
- Cold Chain Logistics
- Qualification/Validation
Biobanks Market, 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
- Temperature Control Systems
Biobanks Market, 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 Market, 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 Market, Ownership Outlook (Revenue, USD Billion, 2019-2032)
- Non-profit Organizations Owned
- University Owned
- Private Organization Owned
- National/Regional Agencies Owned
Biobanks Market, Application Outlook (Revenue, USD Billion, 2019-2032)
- Drug Discovery & Clinical Research
- Therapeutics
- Clinical Diagnostics
- Other Applications
Biobanks Market, End-Use Outlook (Revenue, USD Billion, 2019-2032)
- Academic & Research Institutes
- Hospitals
- Pharmaceutical & Biotechnology Companies
- CROs & CMOs
The research report categorizes the market into various segments and sub-segments. The primary segments covered in the study include type, application, end use and region. The splitting of the market into various groups enables businesses to understand market preferences and trends better. Also, stakeholders can develop products/services that align with the diverse needs of consumers in the industry. Besides, the research study includes a thorough examination of all the major sub-segments in the market.
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https://www.polarismarketresearch.com/industry-analysis/biobanks-market
Recent Developments:
- Charles River Laboratories’ Collaboration with CELLphenomics: This collaboration expands access to a diverse collection of 3D in vitro models for cancer drug screening, accelerating the development of more effective and targeted therapies.
- AstraZeneca’s Research Utilizing UK Biobank Data: This research highlights the potential of large-scale biobanks to uncover novel insights into disease mechanisms and identify new drug targets.
- Launch of EUCAIM Biobank: This initiative aims to advance cancer research by providing access to a valuable resource of cancer-related imaging data, facilitating collaborative research and accelerating the development of innovative treatments.
Market Opportunities:
- Integration of Artificial Intelligence (AI) and Machine Learning (ML): The integration of AI and ML technologies can unlock valuable insights from biobank data, enabling researchers to identify patterns, predict disease outcomes, and personalize treatment strategies.
- Expanding Applications: The application of biobank data is expanding beyond traditional research areas into new domains, such as environmental health, nutrition, and public health surveillance.
- Data Sharing and Collaboration: Fostering collaboration and data sharing among researchers and institutions can accelerate scientific discovery and maximize the value of biobank resources.
Challenges:
- Data Security and Privacy: Ensuring the security and privacy of sensitive patient data is critical for maintaining public trust and compliance with regulations.
- Ethical Considerations: Addressing ethical concerns related to data collection, storage, and use is crucial for maintaining the integrity and ethical conduct of biobank research.
- Data Quality and Standardization: Maintaining high-quality data and ensuring data standardization across different biobanks are essential for ensuring the reliability and comparability of research findings.
Table of Contents:
4. Global Biobanks Market Market Insights
4.1. Biobanks Market β Industry Snapshot
4.2. Biobanks Market Market Dynamics
4.2.1. Drivers and Opportunities
4.2.1.1. Establishment of Cord Blood Stem Cell Preservation Facilities.
4.2.1.2. Increasing Utilization of Regenerative Therapies.
4.2.2. Restraints and Challenges
4.2.2.1. Ethical Dilemmas in Developing Nations.
4.2.3. Porterβs Five Forces Analysis
4.2.3.1. Bargaining Power of Suppliers (Moderate)
4.2.3.2. Threats of New Entrants: (Low)
4.2.3.3. Bargaining Power of Buyers (Moderate)
4.2.3.4. Threat of Substitute (Moderate)
4.2.3.5. Rivalry among existing firms (High)
4.2.4. PESTEL Analysis
4.2.5. Biobanks Market Industry
4.2.6. Value Chain Analysis
4.2.7. COVID-19 Impact Analysis
5. Global Biobanks Market Market, by Service
5.1. Key Findings
5.2. Introduction
5.2.1. Global Biobanks Market Market, by By Service, 2019-2032 (USD Billion)
5.3. Lab Processing
5.3.1. Global Biobanks Market Market, by Lab Processing, by Region, 2019-2032 (USD Billion)
5.4. Biobanking & Repository
5.4.1. Global Biobanks Market Market, by Biobanking & Repository, by Region, 2019-2032 (USD Billion)
5.5. Cold Chain Logistics
5.5.1. Global Biobanks Market Market, by Cold Chain Logistics, by Region, 2019-2032 (USD Billion)
5.6. Qualification/Validation
5.6.1. Global Biobanks Market Market, by Qualification/Validation, by Region, 2019-2032 (USD Billion)
6. Global Biobanks Market Market, by Product
6.1. Key Findings
6.2. Introduction
6.2.1. Global Biobanks Market Market, by Product, 2019-2032 (USD Billion)
6.3. Biobanking Consumables
6.3.1. Global Biobanks Market Market, by Biobanking Consumables, by Region, 2019-2032 (USD Billion)
6.4. Laboratory Information Management Systems
6.4.1. Global Biobanks Market Market, by Laboratory Information Management Systems, by Region, 2019-2032 (USD Billion)
6.5. Biobanking Equipment
6.5.1. Global Biobanks Market Market, by Biobanking Equipment, by Region, 2019-2032 (USD Billion)
6.5.2. Alarms & Monitoring Systems
6.5.2.1. Global Biobanks Market Market, by Alarms & Monitoring Systems, by Region, 2019-2032 (USD Billion)
6.5.3. Incubators & Centrifuges
6.5.3.1. Global Biobanks Market Market, by Incubators & Centrifuges, by Region, 2019-2032 (USD Billion)
6.5.4. Accessories & Other Equipment
6.5.4.1. Global Biobanks Market Market, by Accessories & Other Equipment, by Region, 2019-2032 (USD Billion)
6.6. Biobanking Equipment
6.6.1. Global Biobanks Market Market, by Biobanking Equipment, by Region, 2019-2032 (USD Billion)
6.6.2. Temperature Control Systems
6.6.2.1. Global Biobanks Market Market, by Temperature Control Systems, by Region, 2019-2032 (USD Billion)
6.7. Cryogenic Storage Systems
6.7.1. Global Biobanks Market Market, by Cryogenic Storage Systems, by Region, 2019-2032 (USD Billion)
6.8. Thawing Equipment
6.8.1. Global Biobanks Market Market, by Thawing Equipment, by Region, 2019-2032 (USD Billion)
6.9. Temperature Control Systems
6.9.1. Global Biobanks Market Market, by Temperature Control Systems, by Region, 2019-2032 (USD Billion)
Conclusion:
The global biobanks market is poised for continued growth, driven by technological advancements, increasing demand for personalized medicine, and the growing recognition of the critical role of biobanks in advancing scientific discovery. By addressing the challenges and capitalizing on the opportunities presented by this dynamic market, stakeholders can contribute to a future where biobanks play an even more pivotal role in improving human health and well-being.
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