Biobanking Market Size and Key Segments
The global biobanking market size was estimated at US$ 80.11 billion in 2023 and is projected to grow to US$ 208.81 billion by 2034, rising at a compound annual growth rate (CAGR) of 9.1% from 2024 to 2034. Growing research and development on human cells, especially stem cells, is driving the market’s growth.
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Major Key Insights of the Biobanking Market
- By region, Europe dominated the biobanking market share by 36.41% in 2023.
- By region, Asia Pacific is expected to grow at the fastest rate during the forecast period.
- By product, the biobanking equipment segment held the largest share of the market in 2023.
- By product, the Laboratory Information Management Systems (LIMS) segment is anticipated to grow at the fastest rate during the forecast period.
- By service, the biobanking & repository segment dominated the market in 2023.
- By biospecimen type, the human tissues segment dominated the biobanking market in 2023.
- By biospecimen type, the stem cells segment is expected to grow at the fastest rate during the predicted period.
- By biobank type, the physical/real biobanks segment held the largest market share in 2023.
- By biobank type, the virtual biobanks segment is estimated to grow at the fastest CAGR during 2024-2033.
- By application, the therapeutics segment held the dominant share of the market in 2023.
- By end-use, the pharmaceutical & biotechnology companies segment dominated the biobanking market in 2023.
Human Tissues Segment Dominated in 2023
In 2023, the biobanking market saw the human tissues segment emerge as the leader in biospecimen types. Human tissues are increasingly being employed in diverse scientific research initiatives, including studies on diseases such as cancer, diabetes, heart disease, Alzheimer’s, and other forms of dementia. They also play a significant role in developing treatments for conditions like multiple sclerosis and Parkinson’s disease. Additionally, human tissues are widely used as biosensors for detecting chemical or biological threats and in microfluidic systems for toxicological testing.
For example, in November 2023, AIG Hospital in Gachibowli inaugurated South India’s first private BioBank. This facility is dedicated to the storage and analysis of human tissue samples for various scientific applications. The BioBank aims to collect 100,000 blood and tissue samples over the next three years and preserve them for an additional ten years. This repository will provide researchers, physicians, and scientists with access to high-quality human tissue samples and other critical biosamples.
Stem Cells Segment is the Fastest Growing
The stem cells segment is projected to experience the fastest growth in the biobanking market during the forecast period. Stem cells hold immense potential in regenerative medicine and natural healing processes. Stem cell banking, which involves the long-term preservation of various stem cell types, is crucial for maintaining the original characteristics of these cells for patient-specific therapeutic applications. Biobanking activities facilitate essential components of stem cell research and clinical translation, yielding significant returns on investment.
For instance, in September 2023, the Abu Dhabi Crown Prince endorsed the use of human tissues and stem cells for advancing personalized medical research. This initiative aims to establish a biobank to enable the delivery of personalized medicine through innovative treatment programs that utilize human stem cells and tissues to enhance medical research.
Segments Covered in the Report
By Product
- Biobanking Equipment
- Temperature Control Systems
- Freezers & Refrigerators
- Cryogenic Storage Systems
- Thawing Equipment
- Incubators & Centrifuges
- Alarms & Monitoring Systems
- Accessories & Other Equipment
- Biobanking Consumables
- Laboratory Information Management Systems
By Service
- Biobanking & Repository
- Lab Processing
- Qualification/ Validation
- Cold Chain Logistics
- Other Services
By Biospecimen Type
- Human Tissues
- Human Organs
- Stem Cells
- Adult Stem Cells
- Embryonic Stem Cells
- IPS Cells
- Other Stem Cells
- Other Biospecimens
By Biobanks Type
- Physical/Real Biobanks
- Tissue Biobanks
- Population Based Biobanks
- Genetic (DNA/RNA)
- Disease Based Biobanks
- Virtual Biobanks
By Application
- Therapeutics
- Drug Discovery & Clinical Research
- Clinical Diagnostics
- Other Applications
By End-use
- Pharmaceutical & Biotechnology Companies
- CROs & CMOs
- Academic & Research Institutes
- Hospitals
By Region
- North America
- Asia Pacific
- China
- Japan
- India
- South Korea
- Thailands
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Sweden
- Denmark
- Norway
- Latin America
- Middle East and Africa (MEA)
- South Africa
- UAE
- Saudi Arabia
- Kuwait
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