Biobanks Market Size, Share, Industry Analysis, Trends, Growth, Forecasts, 2032

Global Biobanks Market: Insights

According to the report published by Zion Market Research, the global Biobanks Market size was valued at USD 76.37 Billion in 2023 and is predicted to reach USD 164.50 Billion by the end of 2032. The market is expected to grow with a CAGR of 8.90% during the forecast period. The report analyzes the global Biobanks Market’s growth drivers, restraints, and impact on demand during the forecast period. It will also help navigate and explore the arising opportunities in the Biobanks Market industry.

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Global Biobanks Market: Overview

Biobanks can be referred as a storage place that stores, distributes, and collects the biological materials of the human beings that comprise of plasma, purified DNA, blood, saliva, and other biospecimens. Biobanks help in keeping the records of the person’s personal and health information. This can be anything from genetic information to the lifestyle of the person. The appropriate environment is maintained in the biobanks for storing the biological materials. These specimens and information are used for detecting the diseases and their causes.

Global Biobanks Market: Growth Factors

The major factors driving the biobanks market are the increasing prevalence of the chronic diseases, favorable government initiatives, developments in the drug discovery, improvements in the regenerative medicines, the rise in the healthcare spending, and the introduction to the treatment of the tissue and cell disorders. The growing popularity of the biobank facilities is also positively contributing to the growth of the market.

On the contrary, factors that are negatively affecting the growth of the biobanks market are the high capital requirement, lack of standards, concerns related to reimbursement, and the financial downturn. Tissue injury and the stability issue during freezing also act as a challenge for the biobanks market.

The development of the techniques and the technological advancements in this field are expected to open a wide range of opportunities for the global biobanks market. Developments of green banking to save energy and virtual biobanks are some of the key trends in the biobanks market.

Key Insights

• As per the analysis shared by our research analyst, the global Biobanks Market is estimated to grow annually at a CAGR of around 8.90% over the forecast period (2024-2032).
• In terms of revenue, the global Biobanks Market size was valued at around USD 76.37 Billion in 2023 and is projected to reach USD 164.50 Billion by 2032.
• Based on the product and service, the equipment segment accounted for the largest revenue share of 52.4% in the biobanking market. This growth is attributed to the rapid increase in the number of new biobanks and the substantial initial investment required for equipment installation. 
• Based on the sample type, the human tissues segment dominated the market and accounted for the largest revenue share in 2023. This is due to the large number of biobanks with facilities to store tissues, the easy availability of tissue samples, and the availability of advanced technology for storage and retrieval of banked tissues. 
• Based on the application, the therapeutics application segment dominated the market in 2024, holding the largest revenue share. This can be attributed to the ever-increasing demand for advanced therapies for the treatment of chronic diseases and the exponential increase in the number of COVID-19 cases, which has resulted in a growing need for the development of novel viral therapeutics.
• Based on the region, Europe accounted for the maximum revenue share of 39.0% in 2024. This dominance is due to continuous investment in the collection, establishment, and processing of large-scale datasets, as well as contributions from countries like the UK, Germany, and France in investing in biobank solutions.

Biobanks Market: Dynamics

Key Growth Drivers

The biobanks market is experiencing significant growth, driven by the increasing demand for personalized medicine and precision healthcare. The rising prevalence of chronic diseases such as cancer, cardiovascular disorders, and neurological conditions has heightened the need for high-quality biological samples for research and drug development. Government initiatives and funding support for biobanking infrastructure further contribute to market expansion. Additionally, advancements in genomics, proteomics, and bioinformatics have enhanced the utility of biobanks in translational research. The growing collaboration between pharmaceutical companies, academic institutions, and research organizations also acts as a major growth driver.

Restraints

Despite the promising growth prospects, the biobanks market faces several restraints. Ethical and legal concerns surrounding the collection, storage, and use of human biological samples pose significant challenges. Stringent regulations governing biobanking operations and the need for compliance with data privacy laws can hinder market growth. Furthermore, the high cost associated with the establishment and maintenance of biobank facilities, including sample storage and management, can be a limiting factor. Limited availability of skilled personnel for sample handling, quality control, and data management also presents a barrier to market expansion.

Opportunities

The increasing focus on personalized medicine and the growing use of biomarkers in disease diagnosis and treatment provide substantial opportunities for the biobanks market. Emerging economies are investing in healthcare infrastructure, leading to the establishment of regional biobanks and expanding research capabilities. Technological advancements in automated sample storage, retrieval systems, and cloud-based data management platforms are enhancing operational efficiency and opening new growth avenues. Additionally, the rising adoption of artificial intelligence (AI) and machine learning (ML) for analyzing large-scale biobank data offers opportunities for innovative research and drug discovery.

Challenges

The biobanks market faces challenges related to sample quality management and long-term preservation. Maintaining the viability and integrity of biological samples over extended periods requires sophisticated storage facilities and stringent temperature controls, which can be resource-intensive. Data security and privacy concerns associated with the storage and sharing of genetic information also pose risks. Furthermore, the lack of standardized protocols for sample collection and storage across different regions complicates data harmonization and cross-border research collaboration. Addressing these challenges will be crucial for the sustained growth and success of the biobanks market.

Biobanks Market : Report Scope

Global Biobanks Market: Segmentation

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The global biobanks market is segregated on the basis of product and service, sample type, and by the application. All the segments have been analyzed based on present and future trends and the market is estimated from 2024 to 2032.

In terms of the product and services, the market is categorized into consumables, software, equipment, and services.

Based on the sample type, the biobanks market is categorized into human tissues, cell lines, human waste products, blood products, nucleic acids, and biological fluids.

On the basis of application, the market is fragmented into clinical research, life science research, and regenerative medicine.

The regional segment includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

Global Biobanks Market: Regional Analysis

The global biobanks market is experiencing significant growth, with regional variations influenced by factors such as investments in research infrastructure, prevalence of chronic diseases, and advancements in personalized medicine.​

North America

North America holds a prominent position in the biobanks market, driven by substantial investments in research and development, a robust healthcare infrastructure, and strong government support. The United States, in particular, has a well-established network of biobanks supporting various research initiatives, including personalized medicine and genetic studies. The region's focus on precision medicine and the increasing demand for high-quality biological samples contribute to market growth.

Europe

Europe represents a significant segment of the biobanks market, with countries like Germany, the United Kingdom, and France leading in biobanking activities. The region emphasizes genetic research and the preservation of biological samples, supported by collaborative efforts between academic institutions and healthcare organizations. European biobanks play a crucial role in advancing research related to various diseases and therapeutic interventions.

Asia-Pacific

The Asia-Pacific region is anticipated to witness substantial growth in the biobanks market, attributed to the rising prevalence of chronic diseases, increased investments in healthcare infrastructure, and expanding research and development activities. Countries such as China, Japan, and India are establishing biobanks to support genomic research and personalized medicine initiatives. For instance, in February 2023, Tata Medical Center in Kolkata and the Indian Institute of Technology (IIT) Kharagpur launched India's first fully annotated cancer image bank, CHAVI, enhancing cancer research capabilities in the region.

Latin America and the Middle East & Africa

Emerging markets in Latin America and the Middle East & Africa are gradually adopting biobanking practices, driven by increasing investments in healthcare infrastructure and research activities. Countries like Brazil, Mexico, and South Africa are contributing to market growth through initiatives aimed at understanding local disease patterns and developing region-specific treatments.

Global Biobanks Market: Competitive Players

Some of the most important market players in the biobanks market include:

• Bristol-Myers Squibb Co.
• Roche Ltd.
• Affymetrix Inc.
• Abbott Laboratories Inc.
• Johnson and Johnson Ltd.
• Teva Pharmaceuticals
• among others.

The Global Biobanks Market is segmented as follows:

By Product And Service 

• Consumables 
• Software 
• Equipment
• Services 

By Sample Type 

• Human Tissues 
• Cell Lines 
• Human Waste Products
• Blood Products
• Nucleic Acids 
• Biological Fluids

By Application 

• Clinical Research 
• Life Science Research
• Regenerative Medicine 

Global Biobanks Market: Regional Segment Analysis

• North America
  • The U.S.
• Europe
  • The UK
  • France
  • Germany
• The Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• The Middle East and Africa

What Reports Provides

• Full in-depth analysis of the parent market
• Important changes in market dynamics
• Segmentation details of the market
• Former, on-going, and projected market analysis in terms of volume and value
• Assessment of niche industry developments
• Market share analysis
• Key strategies of major players
• Emerging segments and regional markets
• Testimonials to companies in order to fortify their foothold in the market.