According to the latest report by IMARC Group, titled “Global Biobanking Market Size, Share, Industry Trends, Growth, Opportunity and Forecast 2022-2027“, the global biobanking market size reached US$ 53.3 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 77.6 Billion by 2027, expanding at a CAGR of 6.18% during the forecast period (2022-2027).
Biobanking refers to the process of storing and analyzing information regarding human biospecimens, which are accumulated from healthy volunteers with a particular condition. The collected information is further utilized in research and academic studies to enhance the understanding of health and numerous diseases. Modern biobanks indulge in the large-scale analysis of specific disease biomarkers, which include biological or digital materials with well-annotated clinical data. They offer a basis for enhancing personalized medical approaches where effective biomarker identification is crucial for diagnosis and prognosis.
|Base Year: 2021|
|Forecast Year: 2022-2027|
Biobanking Market Trends and Drivers:
The growing incidences of new infectious and chronic diseases and the escalating need for diagnostic procedures that accurately identify pathogens are primarily driving the biobanking market. Moreover, the increasing demand for regenerative medicines and personalized treatment options is further propelling the market growth.
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Besides this, several technological advancements in genomics, metagenomics, proteomics, disease biology, bioenergy, environmental remediation, and allied fields are acting as significant growth-inducing factors. Furthermore, the expanding investments in virtual biobank network models by the health agencies across numerous countries are also augmenting the global market.
In addition to this, various key market players are providing a diverse portfolio of biobanking products and services that allow the seamless sharing of insights and critical information between research establishments. This, in turn, is anticipated to fuel the biobanking market over the forecasted period.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Biobanking Market 2021-2026 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Brooks Automation Inc., Bay Biosciences LLC, Boca Biolistics, Ctibiotech, Cureline Inc., Firalis, Greiner Bio-One International GmbH, Hamilton Company, Merck KGaA, ProteoGenex Inc., Thermo Fisher Scientific Inc. and VWR Corporation (Avantor Inc.).
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The report has segmented the market on the basis specimen type, biobank type, application and end user.
Breakup by Specimen Type:
- Blood Products
- Solid Tissue
- Cell Lines
- Nucleic Acid
Breakup by Biobank Type:
- Population-based Biobanks
- Disease-oriented Biobanks
Breakup by Application:
Breakup by End User:
- Academic Institutions
- Pharma and Biotech Companies
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan,India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France,United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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