Biobanking Market - By Product [Equipment (Storage, Sample Analysis, Processing, Transport), Consumable, Service, Software], Sample (Blood, Tissue, Cell Line), Application (Regenerative Medicine), Storage Type, End-user, Global Forecast (2023-2032)
Published Date: July - 2024 | Publisher: MIR | No of Pages: 240 | Industry: Healthcare | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationBiobanking Market - By Product [Equipment (Storage, Sample Analysis, Processing, Transport), Consumable, Service, Software], Sample (Blood, Tissue, Cell Line), Application (Regenerative Medicine), Storage Type, End-user, Global Forecast (2023-2032)
Biobanking Market Size
Biobanking Market size was valued to be USD 62.6 billion in 2022 and is predicted to experience a sustainable growth of CAGR 7.2% from 2023 to 2032. Some of the major factors contributing to the growth of market are growing awareness about biobanking that is leading to an increase in genomic research and development activities.
Furthermore, the increased government, and non-government fundings to support regenerative medicine research, and increased need for cost-effective drug discovery and development are also supporting the market expansion. Biobanking refers to the practice of collecting, processing, storing, and managing biological samples, such as tissues, blood, DNA, and other body fluids, along with associated health information.
Report Attribute | Details |
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Base Year | 2022 |
Biobanking Market Size in 2022 | USD 62.6 Billion |
Forecast Period | 2023 to 2032 |
Forecast Period 2023 to 2032 CAGR | 7.2% |
2032 Value Projection | USD 127.3 Billion |
Historical Data for | 2018 to 2022 |
No. of Pages | 287 |
Tables, Charts & Figures | 497 |
Segments covered | Product & Service, Sample Type, Application, Storage Type, End-user, and Region |
Growth Drivers |
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Pitfalls & Challenges |
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Additionally, the biobanks play a crucial role in advancing medical research, personalized medicine, and in the development of new diagnostic and therapeutic approaches by serving as invaluable repositories for researchers and scientists studying various diseases, genetics, and the effects of environmental factors on health.
COVID-19 Impact
The COVID-19 had a major influence on the biobanking market and resulted in the organic revenue growth of the market. During the COVID-19 pandemic, the collection, processing, and analysis of patient samples increased abruptly and led to increased awareness and fundings for biobanks. Additionally, the pandemic also led to expansion of new biobanks that diversified types of samples and enabled researchers to study the virus and its effects more comprehensively.
For instance, in 2021, Tulane University in New Orleans announced a new COVID-19 biobank containing blood & cell samples from survivors to aid researchers in determining the fact that some people heal rapidly while others have long-term effects of the COVID-19 virus. As a result, such initiatives show that the outbreak of the pandemic boosted the demand for biobank services, benefiting the global economy.
Biobanking Market Driving Factors
The rise of biobanks, where biological samples are collected and stored for research purposes, is being fueled by a surge in investment and funding. For example, in May 2023, the UK government announced a hefty $165 million investment in the groundbreaking UK Biobank genomics project. This cash injection will quadruple the project's research capacity, aiding scientists and pharmaceutical companies in unraveling the mysteries of human biology. Governments around the world are recognizing the importance of biobanking, pouring money into these facilities. This allows biobanks to upgrade their labs, buy cutting-edge equipment, and develop better ways to store and manage biological samples. These improvements are driving the overall growth of the biobanking market.
Biobanking Market Restraining Factors
High-tech tools like automated sample handlers are making biobanking a breeze. They speed things up and give more accurate results. But these fancy machines come with a hefty price tag, which can make it tough for smaller biobanks or those on a tight budget to jump on the bandwagon. For example, an automated storage system can set you back quite a bit, depending on how big and complicated it is. You could be looking at an initial investment of anywhere from $10,000 to hundreds of thousands of dollars.
In addition to the initial investment, there are ongoing maintenance and operational costs that must be considered, such as software updates, repairs, and training that can lead to an additional high cost that is not bearable by every organisation. The issues related to biospecimen sample procurement can also restrain the growth of the market.
Biobanking Market Analysis

Biobanks are like storage facilities for biological samples, such as tissue, cells, and DNA. They're used in research to study diseases and develop new treatments. The market for biobanking products and services is growing rapidly because more and more biobanks are being built. This growth is being driven by advances in technology that make it easier to collect, store, and analyze biological samples. The equipment segment of the biobanking market is the largest, and it includes things like freezers, microscopes, and other lab gear. This segment is expected to keep growing because biobanks need to invest in new equipment to keep up with the increasing demand for their services. Other segments of the biobanking market include consumables (like gloves and sample tubes), services (like sample collection and testing), and software (for managing and analyzing data).

When it comes to biobanking, different types of samples can be collected and stored, much like putting stuff away in a special storage unit. Think of blood, tissues, cells, DNA, other bodily fluids, and even waste products. Among these, the blood section is like a star performer, estimated to grow a lot in the coming years. That's because there are plenty of biobanks set up to keep blood samples safe and sound, and thanks to awesome technology, we can store and use these samples easily. Plus, with all the research happening on specific diseases, like cancer and Alzheimer's, there's a huge need for diseased tissue samples. So, biobanks are getting even more important, like a secret vault for these precious samples.
In the world of biobanking, where precious biological samples are stored and used for research and medical advancements, we see three main applicationsregenerative medicine, life-science research, and clinical research. Out of these, regenerative medicine is the current champion, bringing in the most money in 2022 – a whopping 26.2 billion dollars! And it's only expected to keep growing – by a solid 7% each year until the end of the decade. What's driving this growth? A lot of it has to do with the demand for high-quality samples from universities and research centers. These samples fuel collaborative research projects, making it easier for scientists to study diseases and develop new treatments. Plus, with the pharmaceutical industry ramping up its research and development efforts, there's an increasing need for well-preserved and thoroughly documented biological samples – and biobanks are the go-to source for these precious materials.
Based on storage type, the biobanking market is classified into automated storage and manual storage. In 2022, the automated storage segment accounted for the largest market revenue of USD 35.9 billion and is anticipated to grow at a CAGR of 7.1% in the forecast period. The expansion of this segment can be attributed to the advantages incorporated with automated storage system such as, ability to manage large volume of samples efficiently.
Additionally, the accuracy in samples data management achieved by automated storage systems is crucial for maintaining the integrity and reliability of research outcomes by minimizing the risk of human error, ensuring precise and consistent data tracking, annotation, and retrieval. Moreover, the integration of automated storage significantly reduces the reliance on manual labour, leading to enhanced operational efficiency, cost-effectiveness.
Based on end-user, the biobanking market is classified into biotechnology and pharmaceutical companies, contract research organisations (CROs), academic and research institutes, and hospitals. The biotechnology and pharmaceutical companies segment held the largest market share of 37.3% in 2022 and is expected to grow at a CAGR of 7% in the forecast period. This growth could be attributed to factors such as, the increase in genetic and genomic investigations, crucial for DNA sequencing and the study of genetic mutations.
Additionally, the CROs offer specialized expertise, cutting-edge technologies, and comprehensive infrastructure that are essential for handling and analysing the vast amounts of genetic data generated. Moreover, the surge in emphasis on precision medicine for various diseases, and development in the academic biobank has also added to the growth of this segment.

The biobanking market is split into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. Each region has its own characteristics that impact the market. North America is a major player in the biobanking industry. In 2022, it generated a whopping $20.2 billion in revenue. This number is projected to soar to $41.5 billion by 2032. This growth is fueled by several factors. One key factor is the impressive research infrastructure in North America. The region boasts renowned academic and research institutions that are pushing the boundaries of science. Additionally, North America has a well-established healthcare system and a supportive regulatory environment that encourages biobanking activities. The government and private organizations in North America are also making substantial investments in research and development. This funding is helping to propel North America to the forefront of biobanking advancements.
Biobanking Market Share
The prominent players in biobanking market are
- Thermo Fisher Scientific, Inc.
- PHC Holdings Corporation
- Hamilton Company
- Avantor Inc.
- Qiagen N.V.
- Tecan Trading AG
- Merck & Co., Inc.
- Becton
- Dickinson and Company
- Cryoport Inc.
- Azenta Inc.
These companies are implementing several strategies such as collaborations, acquisitions, partnerships, mergers, and product launches to maintain a competitive edge in the industry.
Biobanking Industry News
- In February 2023, PHC Corporation of North America launched the PHCbi Brand VIP ECO smart ultra-low temperature freezer with industry-leading energy efficiency. This technology will increase the shelf life for the sample and will ultimately lead to lesser number of sample spoilage.
- In September 2022, Cryoport partnered with BioLife Plasma Services to offer supply chain solutions and service offerings, such as bio-services and cryo-processing, for BioLife Plasma Services. This strategy helped these companies to provide the best quality cellular starting materials for use within a multitude of life-saving cellular therapies.
The global biobanking market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2018 to 2032 for the following segments
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By Product & Service
- Equipment
- Storage equipment
- Sample analysis equipment
- Sample processing equipment
- Sample transport equipment
- Consumable
- Storage consumables
- Analysis consumables
- Processing consumables
- Collection consumables
- Service
- Storage services
- Processing services
- Transport services
- Supply services
- Software
By Sample Type
- Blood products
- Human tissues
- Cell lines
- Nucleic acids
- Biological fluids
- Human waste products
By Application
- Regenerative medicine
- Life-science research
- Clinical research
Storage Type
- Automated storage
- Manual storage
By End-User
- Biotechnology & Pharmaceutical Companies
- Contract research organizations (CROs)
- Academic & Research Institutes
- Hospitals
The above information is provided for the following regions and countries
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Australia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
- Rest of Middle East & Africa
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