Biobanking Market

Biobanking Market Analysis by Therapeutics, Clinical Diagnostics, and Drug Discovery & Development from 2023 to 2033

Analysis of Biobanking Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more

Biobanking Market Overview (2023 to 2033)

The global biobanking market size is valued at US$ 46.8 Billion in 2023, and is estimated to reach US$ 89.5 Billion by 2033, growing with a healthy Compound Annual Growth Rate (CAGR) of 6.6% during the forecast period from 2023 to 2033.

Use of biospecimens in drug discovery and drug development applications has been increasing rapidly over the past few years and this is projected to be an influential prospect driving demand for biobanking in the long run. With the growing need for genetic testing and customized medicine, prominent manufacturers have been investing in the development of biobank equipment like temperature control systems, alarms, and monitoring systems biobanking, which has impelled the sales revenue of the biobanking market worldwide.

  • Temperature control is an important aspect of biobanks, which is why demand for temperature control systems such as cryogenic storage systems, freezers, and refrigerators is slated to soar high across the forecast period.

Growing incidence of chronic diseases, increasing healthcare expenditure around the world, the launch of government subsidies for stem cell therapeutics, rising demand for personalized medicine, and growing adoption of advanced technologies in the medical industry are other key factors that could promote sales of biobanking equipment over the next ten years.

On the flip side, ethical and legal issues associated with biobanking and the high costs of establishment and operation of biobanks are forecasted to be major restraints inhibiting the market from reaching its full growth potential going forward. Moreover, the dearth of skilled medical professionals to manage biobanks and the lack of awareness regarding the benefits of biobanking are also slated to create challenges for biobanking providers in the long run.

Report Attributes Details
Biobanking Market Size (2023) US$ 46.8 Billion
Projected Market Value (2033F) US$ 89.5 Billion
Global Market Growth Rate (2023 to 2033) 6.6% CAGR
Prominent Regional Market (2023) Europe
Key Companies Profiled Tecan Group Ltd.; Becton Dickinson and Company; Qiagen N.V.; TTP Labtech Ltd.; VWR Corporation; Promega; Brooks Automation; Thermo Fisher Scientific Inc.; Worthington Industries; Chart Industries; Hamilton Company; Merck KGaA

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Can New Biobanking Companies Make a Mark in the Global Industry?

“Biobanking Start-ups Focusing on Development of Innovative Solutions to Penetrate Market”

New companies looking to penetrate the biobanking space are focusing on developing solutions that can optimize the operations of biobanking to make the process more efficient and productive. These new biobanking providers are also focusing on raising new capital to fund their R&D efforts and business expansion plans.

  • In May 2023, Upkara, a biomedical technology start-up founded in 2022, announced that it had raised US$ 9 million in Series A funding. The company was expected to use the raised funding to commercialize its biopreservation technology and bring it to the market.
  • Krishagni Solutions Pvt. Ltd., a company based in India providing a biobanking informatics platform is making waves around the world through its OpenSpecimen Sample Inventory Management System. In 2021, the University of Oxford’s Medical Division announced that they had purchased the aforementioned software to support research involving the storage and processing of human tissues.

Start-ups can benefit by learning more about aspects such as local supply, pricing trends, product standards, safety regulations, and new developments that have been discussed extensively in this biobanking industry study by skilled analysts at Fact.MR, a market research and competitive intelligence provider.

What Stands in the Way of Rapid Biobanking Market Growth?

“High Operational Cost Concerns Portend Limited Adoption of Biobank Products”

According to the study, technological advancements present a crucial challenge associated with cost. Integration of advanced technology means a high cost of equipment and consumables, which, in turn, increases the operational costs of biobanks.

  • For instance, in France and the Netherlands, the annual operational cost of a biobank ranges from US$ 220,000 to US$ 880,000. Besides this, the cost associated with infrastructure, equipment, human resources, and supplies further makes it an expensive working model.

High operational cost of biobanks reflects the increasing price of storage for end-users, which is leading to a low adoption rate of biobanks.

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Country-wise Insights

What Makes the United States an Investment-worthy Market for Biobanking Companies?

“Swelling Investments in Biobanking for Drug Discovery & Development”

Technical advancements in drug discovery and increased investment in the R&D of personalized and regenerative medicine in the United States have opened a plethora of growth opportunities for companies operating in the biobanking industry. The mounting occurrence of cancer, cardiovascular, and infectious diseases is enhancing the biobanking market growth in the province.

A large number of clinical trials for different diseases and snowballing usage of stem cell therapies for the treatment of chronic and rare diseases are also pushing the demand for biobanking products. Increasing funding for medical research from the government is also playing into the hands of biobanking providers in the United States.

Increasing necessity to stash and preserve biological samples such as nucleic acids, tissues, and blood which are in demand for research activities for developments in biomedical research and to recognize disease-relevant biomarkers.

Why are Biobanking Providers Venturing into China?

“High Spending on Research & Development Boosting Demand for Biobanks”

China is witnessing a robust increase in demand for biospecimens owing to the launch of several new medical R&D initiatives and growing spending on healthcare research.

  • As per the white paper published by Cambridge University, Presently, hospitals and research organizations in China establish and operate most biobanks, gathering human specimens to support clinical and scientific research by using biobanking software and services.

The government of China is also launching subsidies and support initiatives to promote the expansion of the healthcare infrastructure and accommodate the growing patient pool in the country. The surging popularity of stem cell therapies, gene therapies, and personalized medicine is slated to influentially augment biobanking demand through 2033.

How Opportune is the European Market for Biobanking Providers?

“Continual Investments in Establishment of Large-scale Biobanks”

European countries have been quick in the adoption of advanced biotechnology and this has created a lucrative setting for biobanking companies. Moreover, supportive government initiatives to gather crucial patient data to advance medical research and reduce mortality rates for several chronic diseases are also facilitating new business opportunities for biobank companies.

  • In May 2023, Genomics England in collaboration with the Medicines and Healthcare Products Regulatory Agency (MHRA), announced their plan of launching a Yellow Card biobank that gathered patient data to link the adverse effects of drugs to the genetic makeup of patients. The biobank was intended to work in harmony with the Yellow Card website of the MHRA used to report adverse effects of medications and medical devices.

The United Kingdom, France, Italy, and Germany are projected to be moneymaking markets in the European region owing to the presence of key biotechnology companies.

Category-wise Insights

For Which Biospecimen Will Biobanking Be Most Sought After?

“Biobanking Incubators & Centrifuges to Offer Superior Facility for Storing Human Tissues”

According to Fact.MR’s recent analysis, the human tissue biobanks segment is projected to witness robust growth throughout the forecast period. Human tissue biobanks are different from other institutes that allow and store tissue and blood for direct patient care, such as organ or blood transplantation. These biobanking incubators and centrifuges are explicitly used for research purposes.

Expansion in disease research, particularly rare diseases in humans, developments in regenerative medicines, and increasing adoption of automated storage systems in biobanking are driving the growth of the human tissue biobanking services sector.

Where Will Demand for Biobanking Be High?

“Therapeutics Projected to Lead Global Revenue Generation”

There has been a shift in the healthcare sector from chemicals to biospecimens for the development of therapeutics to treat chronic and rare disorders. This is gradually boosting the demand for blood products, tissues, and human cells for the development of precision and regenerative medicines. Increasing investments in drug discovery and development are also projected to uplift biobanking demand for therapeutic applications.

Healthcare professionals are changing their perspective and moving towards a preventive rather than a curative approach, the use of biospecimens for clinical diagnostics is likely to increase over the coming years. Several research institutes help clinics by studying cell structures to determine the root of chronic diseases, which is projected to strengthen sales from the clinical diagnosis of biospecimen.

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Competitive Landscape

Leading biobanking providers are focusing on expanding their capacity and capabilities to provide a diverse set of biospecimens and biological research data.

  • In May 2023, UK Biobank, a huge database of biospecimen and biomedical research information, revealed that it was receiving around US$ 162.96 million to fund its move to a custom purpose-built center at the Bruntwood SciTech’s Manchester Science Park.

Key Segments Covered in Biobanking Industry Research

  • By Storage :

    • Manual Biobanking
    • Automatic Biobanking
  • By Application :

    • Therapeutics
    • Clinical Diagnostics
    • Drug Discovery & Development
    • Others
  • By Biospecimen :

    • Blood Products
    • Human Tissues
    • Cell Lines
    • Nucleic Acids
    • Others
  • By Product :

    • Biobanking Equipment
      • Temperature Control Systems
      • Freezers & Refrigerators
      • Cryogenic Storage Systems
      • Thawing Equipment
    • Biobanking Incubators & Centrifuges
    • Biobanking Alarms & Monitoring Systems
    • Biobanking Accessories & Other Equipment
    • Biobanking Consumables
      • Cryovialsand Cryomolds
      • Tubes
      • Others
  • By Region :

    • North America
    • Latin America
    • Europe
    • APAC
    • MEA

Table of Content

  • 1. Preface
  • 2. Assumptions and Research Methodology
  • 3. Executive Summary
  • 4. Market Overview
  • 5. Market Outlook
  • 6. Global Market Analysis, by Product
    • 6.1. Equipment
      • 6.1.1. Temperature Control Systems
        • 6.1.1.1. Freezers & Refrigerators
        • 6.1.1.2. Cryogenic Storage Systems
        • 6.1.1.3. Thawing Equipment
        • 6.1.1.4. Incubators & Centrifuges
      • 6.1.2. Alarms & Monitoring Systems
      • 6.1.3. Accessories & Other equipment
    • 6.2. Consumables
      • 6.2.1. Cryovials & Cryomolds
      • 6.2.2. Tubes
      • 6.2.3. Others
    • 6.3. Software & Services
  • 7. Global Market Analysis, by Biospecimen
    • 7.1. Blood Products
    • 7.2. Human Tissues
    • 7.3. Cell Lines
    • 7.4. Nucleic Acids
    • 7.5. Others
  • 8. Global Market Analysis, by Application
    • 8.1. Therapeutics
    • 8.2. Clinical Diagnostics
    • 8.3. Drug Discovery & Development
    • 8.4. Others
  • 9. Global Market Analysis, by Storage
    • 9.1. Manual
    • 9.2. Automated
  • 10. Global Market Analysis, by Region
    • 10.1. North America
    • 10.2. Europe
    • 10.3. Asia Pacific
    • 10.4. Latin America
    • 10.5. Middle East & Africa
  • 11. North America Market Analysis
  • 12. Europe Market Analysis
  • 13. Asia Pacific Market Analysis
  • 14. Latin America Market Analysis
  • 15. Middle East & Africa Market Analysis
  • 16. Competition Landscape
    • 16.1. Thermo Fisher Scientific, Inc.
    • 16.2. PHC Holdings Corporation (Panasonic Healthcare)
    • 16.3. Hamilton Company
    • 16.4. Chart Industries, Inc.
    • 16.5. VWR International, LLC. (Avantor, Inc.)
    • 16.6. QIAGEN N.V.
    • 16.7. Greiner AG
    • 16.8. Brooks Automation, Inc.
    • 16.9. Merck KGaA
    • 16.10. Tecan Trading AG

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List Of Table

Table 01: Market Merger and Acquisition Deals

Table 02: Market Merger and Acquisition Deals

Table 03: Health Care Expenditure, by Major Countries, 2019

Table 04: List of Major Biobanks, by Country

Table 05: Global Market Value (US$ Mn) Forecast, by Product, 2018 to 2033

Table 06: Global Market Value (US$ Mn) Forecast, by Equipment, 2018 to 2033

Table 07: Global Market Value (US$ Mn) Forecast, by Temperature Control Systems, 2018 to 2033

Table 08: Global Market Value (US$ Mn) Forecast, by Consumables, 2018 to 2033

Table 09: Global Market Value (US$ Mn) Forecast, by Biospecimen, 2018 to 2033

Table 10: Global Market Value (US$ Mn) Forecast, by Application, 2018 to 2033

Table 11: Global Market Value (US$ Mn) Forecast, by Storage, 2018 to 2033

Table 12: Global Market Value (US$ Mn) Forecast, by Region, 2018 to 2033

Table 13: North America Market Value (US$ Mn) Forecast, by Country, 2018 to 2033

Table 14: North America Market Value (US$ Mn) Forecast, by Product, 2018 to 2033

Table 15: North America Market Value (US$ Mn) Forecast, by Equipment, 2018 to 2033

Table 16: North America Market Value (US$ Mn) Forecast, by Temperature Control Systems, 2018 to 2033

Table 17: North America Market Value (US$ Mn) Forecast, by Consumables, 2018 to 2033

Table 18: North America Market Value (US$ Mn) Forecast, by Biospecimen, 2018 to 2033

Table 19: North America Market Value (US$ Mn) Forecast, by Application, 2018 to 2033

Table 20: North America Market Value (US$ Mn) Forecast, by Storage, 2018 to 2033

Table 21: Europe Market Value (US$ Mn) Forecast, by Country/Sub-region, 2018 to 2033

Table 22: Europe Market Value (US$ Mn) Forecast, by Product, 2018 to 2033

Table 23: Europe Market Value (US$ Mn) Forecast, by Equipment, 2018 to 2033

Table 24: Europe Market Value (US$ Mn) Forecast, by Temperature Control Systems, 2018 to 2033

Table 25: Europe Market Value (US$ Mn) Forecast, by Consumables, 2018 to 2033

Table 26: Europe Market Value (US$ Mn) Forecast, by Biospecimen, 2018 to 2033

Table 27: Europe Market Value (US$ Mn) Forecast, by Application, 2018 to 2033

Table 28: Europe Market Value (US$ Mn) Forecast, by Storage, 2018 to 2033

Table 29: Asia Pacific Market Value (US$ Mn) Forecast, by Country/Sub-region, 2018 to 2033

Table 30: Asia Pacific Market Value (US$ Mn) Forecast, by Product, 2018 to 2033

Table 31: Asia Pacific Market Value (US$ Mn) Forecast, by Equipment, 2018 to 2033

Table 32: Asia Pacific Market Value (US$ Mn) Forecast, by Temperature Control Systems, 2018 to 2033

Table 33: Asia Pacific Market Value (US$ Mn) Forecast, by Consumables, 2018 to 2033

Table 34: Asia Pacific Market Value (US$ Mn) Forecast, by Biospecimen, 2018 to 2033

Table 35: Asia Pacific Market Value (US$ Mn) Forecast, by Application, 2018 to 2033

Table 36: Asia Pacific Market Value (US$ Mn) Forecast, by Storage, 2018 to 2033

Table 37: Latin America Market Value (US$ Mn) Forecast, by Country/Sub-region, 2018 to 2033

Table 38: Latin America Market Value (US$ Mn) Forecast, by Product, 2018 to 2033

Table 39: Latin America Market Value (US$ Mn) Forecast, by Equipment, 2018 to 2033

Table 40: Latin America Market Value (US$ Mn) Forecast, by Temperature Control Systems, 2018 to 2033

Table 41: Latin America Market Value (US$ Mn) Forecast, by Consumables, 2018 to 2033

Table 42: Latin America Market Value (US$ Mn) Forecast, by Biospecimen, 2018 to 2033

Table 43: Latin America Market Value (US$ Mn) Forecast, by Application, 2018 to 2033

Table 44: Latin America Market Value (US$ Mn) Forecast, by Storage, 2018 to 2033

Table 45: Middle East & Africa Market Value (US$ Mn) Forecast, by Country/Sub-region, 2018 to 2033

Table 46: Middle East & Africa Market Value (US$ Mn) Forecast, by Product, 2018 to 2033

Table 47: Middle East & Africa Market Value (US$ Mn) Forecast, by Equipment, 2018 to 2033

Table 48: Middle East & Africa Market Value (US$ Mn) Forecast, by Temperature Control Systems, 2018 to 2033

Table 49: Middle East & Africa Market Value (US$ Mn) Forecast, by Consumables, 2018 to 2033

Table 50: Middle East & Africa Market Value (US$ Mn) Forecast, by Biospecimen, 2018 to 2033

Table 51: Middle East & Africa Market Value (US$ Mn) Forecast, by Application, 2018 to 2033

Table 52: Middle East & Africa Market Value (US$ Mn) Forecast, by Storage, 2018 to 2033

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List Of Figures

Figure 01: Global Market Value (US$ Mn) and Forecast, 2018 to 2033

Figure 02: Global Market Value Share (%), by Product, 2023

Figure 03: Global Market Value Share (%), by Biospecimen, 2023

Figure 04: Global Market Value Share (%), by Application, 2023

Figure 05: Global Market Value Share (%), by Storage, 2023

Figure 06: Global Market Value Share (%), by Region, 2023

Figure 07: Global Market Value Share Analysis, by Product, 2023 and 2033

Figure 08: Global Market Attractiveness, by Product, 2018 to 2033

Figure 09: Global Market Size Forecast (US$ Mn), by Equipment, 2018 to 2033

Figure 10: Global Market Size Forecast (US$ Mn), by Consumables, 2018 to 2033

Figure 11: Global Market Size Forecast (US$ Mn), by Software & Services, 2018 to 2033

Figure 12: Global Market Value Share Analysis, by Biospecimen, 2023 and 2033

Figure 13: Global Market Attractiveness, by Biospecimen, 2018 to 2033

Figure 14: Global Market Value Forecast (US$ Mn), by Blood Products, 2018 to 2033

Figure 15: Global Market Value Forecast (US$ Mn), by Human Tissues, 2018 to 2033

Figure 16: Global Market Value Forecast (US$ Mn), by Cell Lines, 2018 to 2033

Figure 17: Global Market Value Forecast (US$ Mn), by Nucleic Acids, 2018 to 2033

Figure 18: Global Market Value Forecast (US$ Mn), by Others, 2018 to 2033

Figure 19: Global Market Value Share, by Application, 2023 and 2033

Figure 20: Global Market Attractiveness, by Application, 2018 to 2033

Figure 21: Global Market Value (US$ Mn) Forecast, by Therapeutics, 2018 to 2033

Figure 22: Global Market Value (US$ Mn) Forecast, by Clinical Diagnostics, 2018 to 2033

Figure 23: Global Market Value (US$ Mn) Forecast, by Drug Discovery & Development, 2018 to 2033

Figure 24: Global Market Value (US$ Mn) Forecast, by Others, 2018 to 2033

Figure 25: Global Market Value Share, by Storage, 2023 and 2033

Figure 26: Global Market Attractiveness, by Storage, 2018 to 2033

Figure 27: Global Market Value (US$ Mn) Forecast, by Manual, 2018 to 2033

Figure 28: Global Market Value (US$ Mn) Forecast, by Automated, 2018 to 2033

Figure 29: Global Market Value Share, by Region, 2023 and 2033

Figure 30: Global Market Attractiveness, by Region, 2018 to 2033

Figure 31: North America Market Value Share Analysis, by Country, 2023 and 2033

Figure 32: North America Market Attractiveness, by Country, 2018 to 2033

Figure 33: North America Market Value Share Analysis, by Product, 2023 and 2033

Figure 34: North America Market Attractiveness, by Product, 2018 to 2033

Figure 35: North America Market Value Share Analysis, by Biospecimen, 2023 and 2033

Figure 36: North America Market Attractiveness, by Biospecimen, 2018 to 2033

Figure 37: North America Market Value Share, by Application, 2023 and 2033

Figure 38: North America Market Attractiveness, by Application, 2018 to 2033

Figure 39: North America Market Value Share, by Storage, 2023 and 2033

Figure 40: North America Market Attractiveness, by Storage, 2018 to 2033

Figure 41: Europe Market Value Share Analysis, by Country/Sub-region, 2023 and 2033

Figure 42: Europe Market Attractiveness, by Country/Sub-region, 2018 to 2033

Figure 43: Europe Market Value Share Analysis, by Product, 2023 and 2033

Figure 44: Europe Market Attractiveness, by Product, 2018 to 2033

Figure 45: Europe Market Value Share Analysis, by Biospecimen, 2023 and 2033

Figure 46: Europe Market Attractiveness, by Biospecimen, 2018 to 2033

Figure 47: Europe Market Value Share, by Application, 2023 and 2033

Figure 48: Europe Market Attractiveness, by Application, 2018 to 2033

Figure 49: Europe Market Value Share, by Storage, 2023 and 2033

Figure 50: Europe Market Attractiveness, by Storage, 2018 to 2033

Figure 51: Asia Pacific Market Value Share Analysis, by Country/Sub-region, 2023 and 2033

Figure 52: Asia Pacific Market Attractiveness, by Country/Sub-region, 2018 to 2033

Figure 53: Asia Pacific Market Value Share Analysis, by Product, 2023 and 2033

Figure 54: Asia Pacific Market Attractiveness, by Product, 2018 to 2033

Figure 55: Asia Pacific Market Value Share Analysis, by Biospecimen, 2023 and 2033

Figure 56: Asia Pacific Market Attractiveness, by Biospecimen, 2018 to 2033

Figure 57: Asia Pacific Market Value Share, by Application, 2023 and 2033

Figure 58: Asia Pacific Market Attractiveness, by Application, 2018 to 2033

Figure 59: Asia Pacific Market Value Share, by Storage, 2023 and 2033

Figure 60: Asia Pacific Market Attractiveness, by Storage, 2018 to 2033

Figure 61: Latin America Market Value Share Analysis, by Country/Sub-region, 2023 and 2033

Figure 62: Latin America Market Attractiveness, by Country/Sub-region, 2018 to 2033

Figure 63: Latin America Market Value Share Analysis, by Product, 2023 and 2033

Figure 64: Latin America Market Attractiveness, by Product, 2018 to 2033

Figure 65: Latin America Market Value Share Analysis, by Biospecimen, 2023 and 2033

Figure 66: Latin America Market Attractiveness, by Biospecimen, 2018 to 2033

Figure 67: Latin America Market Value Share, by Application, 2023 and 2033

Figure 68: Latin America Market Attractiveness, by Application, 2018 to 2033

Figure 69: Latin America Market Value Share, by Storage, 2023 and 2033

Figure 70: Latin America Market Attractiveness, by Storage, 2018 to 2033

Figure 71: Middle East & Africa Market Value Share Analysis, by Country/Sub-region, 2023 and 2033

Figure 72: Middle East & Africa Market Attractiveness, by Country/Sub-region, 2018 to 2033

Figure 73: Middle East & Africa Market Value Share Analysis, by Product, 2023 and 2033

Figure 74: Middle East & Africa Market Attractiveness, by Product, 2018 to 2033

Figure 75: Middle East & Africa Market Value Share Analysis, by Biospecimen, 2023 and 2033

Figure 76: Middle East & Africa Market Attractiveness, by Biospecimen, 2018 to 2033

Figure 77: Middle East & Africa Market Value Share, by Application, 2023 and 2033

Figure 78: Middle East & Africa Market Attractiveness, by Application, 2018 to 2033

Figure 79: Middle East & Africa Market Value Share, by Storage, 2023 and 2033

Figure 80: Middle East & Africa Market Attractiveness, by Storage, 2018 to 2033

Know thy Competitors

Competitive landscape highlights only certain players
Complete list available upon request

- FAQs -

How big is the global biobanking market in 2023?

The global biobanking market accounts for a value of US$ 46.8 billion in 2023.

What is the total projected market value of the biobanking market report for 2033?

By 2033-end, worldwide revenue from biobanking is forecasted to reach US$ 89.5 billion.

How will biobanking demand fare in the future?

The market for biobanking is projected to increase at a noteworthy 6.6% CAGR from 2023 to 2033.

What are the segments of the biobanking market?

Product, biospecimen, storage, application, and region are the prime segments detailed in this research analysis.

What are the key trends in the biobanking market report?

Rising investments in the R&D of biobank specimens, surging prevalence of chronic diseases, and supportive government initiatives are prime market drivers.

Which key companies are profiled in this Fact.MR market study?

Thermo Fisher Scientific Inc., Tecan Group Ltd., Qiagen N.V., Hamilton Company, and Brooks Automation are the leading biobanking providers studied in this report.

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