Global Biobanking Market To Reach A Value Of Around USD 4.92 Billion by 2032

As per the researchers at Zion Market Research, the global Biobanking Market was worth USD 2.92 Billion in 2023. The market is forecast to reach USD 4.92 Billion by 2032, growing at a compound annual growth rate (CAGR) of 6.08% during the forecast period 2024-2032. The prominent players active in the global biobanking industry comprise CTI BIOTECH, ASKION GmbH, Excilone SARL, Cureline, Inc., Hamilton Company, Firalis S.A., LGC Limited, LabVantage Solutions, Inc., ProMedDx LLC, and PrecisionMed, Inc. The market players are emphasizing on partnership and collaboration activities to set a strong foot within the global market. To cite, in October 2017, SAVSU and BioLife Solutions joined forces to offer improved, cold-chain technologies for lupus, diabetes, organ transplantation, and pemphigus.

Advances In Regenerative Medicine Likely To Propel The Growth Of The Global Market

The key factors driving the expansion of the global biobanks market consist of the advances within regenerative medicine, developments in drug discovery & development, the rising prevalence of chronic diseases, and R&D investments & funding by non-governmental and government organizations. Further, with the rise in alertness about stem cell therapies, there has been a rise in the count of parents opting for the umbilical cord banks for their kids. Also, there is a huge count of donor banks that are being established. Biobanks assist in medical studies on rare genetic disorders in addition to helping in treating genetic diseases. On the other hand, legal and ethical concerns associated with biobanking are expected to hamper the growth of the global biobanking market to some extent during the coming period.

North America Is Anticipated To Dominate The Global Biobanking Market During The Forecast Period

The global biobanking market is bifurcated based on the type of biobank, specimen type, application, ownership, and geography. The market, on the basis of specimen type, is divided into cell lines, solid tissue, blood products, and others. based on ownership, it is categorized into nonprofit organizations, national/regional agencies, private, and university. The market, on the basis of applications, is divided into research and therapeutic. Based on the type of biobank, it is classified into disease-oriented biobank and population-based biobank.

Regionally, North America is projected to rule the global biobanking market during the forecast period on account of factors such as the rising research within regenerative medicine, gene, and cell therapy; the rising count of pharmaceutical & biotechnology firms; the increasing interest in biomarker discovery & personalized medicine; and growing spending in proteomics & genomics research in this region. furthermore, Asia Pacific is also projected to exhibit a substantial growth rate over the forecast period on account of the rise in the aggregate count of new biospecimens deposits. Nations such as China, Japan, Thailand, Korea, Singapore, Australia, and India have their biobanks’ network across the global market.

Browse the full “Global Biobanking Market - By Type Of Biobank (Disease-Oriented Biobanks And Population-Based Biobanks,), By Specimen Type (Solid Tissue, Blood Products, And Cell Lines), By Application (Research And Therapeutic), By Ownership (Non-Profit Organization, National/Regional Agencies, Private, And University), And By Region - Global Industry Perspective, Comprehensive Analysis, and Forecast, 2023– 2032.” Report at https://www.zionmarketresearch.com/report/global-biobanking-market

The global biobanking market is segmented as follows:

By Specimen Type

• Blood products
• Solid tissue
• Cell lines
• Others

By Application

• Therapeutic
• Research

By Type of Biobank

• Population-based biobanks
• Disease-oriented biobanks

By Ownership

• National/regional agencies
• Nonprofit organization
• University
• Private

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

About Us:

Zion Market Research is an obligated company. We create futuristic, cutting-edge, informative reports ranging from industry reports, the company reports to country reports. We provide our clients not only with market statistics unveiled by avowed private publishers and public organizations but also with vogue and newest industry reports along with pre-eminent and niche company profiles. Our database of market research reports comprises a wide variety of reports from cardinal industries. Our database is been updated constantly in order to fulfill our clients with prompt and direct online access to our database. Keeping in mind the client’s needs, we have included expert insights on global industries, products, and market trends in this database. Last but not the least, we make it our duty to ensure the success of clients connected to us—after all—if you do well, a little of the light shines on us.

Contact Us:

Zion Market Research
244 Fifth Avenue, Suite N202
New York, 10001, United States
Tel: +49-322 210 92714
USA/Canada Toll-Free No.1-855-465-4651
Email: sales@zionmarketresearch.com
Website: https://www.zionmarketresearch.com