Biobanking Market Research Report: By Product & Services (Equipment, Consumables, and Services), Sample Type (Blood Products), Storage Type (Manual Storage), Application (Regenerative Medicine) and End-User (Hospitals, Others)- Forecast till 2027

Biobanking Market Overview:

The global biobanking market is one of the fastest-growing markets in the health and medical sector due to a variety of researches and ongoing studies going around in the healthcare sector due to the rising number of diseases and health issues for which no medicinal treatment or vaccination process has been evolved which requires the use of biobanks to collect samples and preserve biological materials for future reference.

Biobanking markets are technologically advanced market structures that are engaged in collecting and preserving biological data, materials, samples for future use and to gather information related to different disorders and to analyze the effect of various diseases, and also finding a cure out for them. The growth of the biobanking market is viewed as a result of the rise in the number of uses of the biobank samples which has increased the demand for the biobanking equipment market.

Also, the rise in the number of research activities and the investments made by health care companies in terms of research and development activities has boosted the demand for the global biobanking market. Not only is biobanking itself growing, it is also allowing its complementary markets to also experience dynamic growth. One such example is the cryogenic biobanking market which is mainly responsible for providing storage facilities to these market companies to preserve cells, tissues, blood, and other biological material.

The global biobanking market USD 950 million in 2017 and is expected to grow at a CAGR of around 7.6%. The biobanking market is expected to reap positive results from the Asia Pacific region where the demand for biobanking is expected to be high due to a large proportion of the young population residing in these countries and the increasing number of cases of various diseases in these countries. Moreover, the segment by application is expected to contribute maximum towards biobanking market share.

COVID 19 Analysis:

The novel coronavirus or the Covid 19 pandemic has negatively impacted the biobanking industry since the rising number of covid cases have come up with the risks associated with the storage, collection, and processing of human biospecimens and all the biological materials since it would amount to greater transmission of viruses and other infections in this pandemic period. Various biobanking companies who were still carrying on the collection of samples of human cells and tissues have observed the consequences whereby the samples for cancer treatment collected were found to be infected by SARS CoV-2 and has become a carrier of the deadly virus which has now become a menace for most of the biobanking companies. However, on the other hand, various steps have been taken and resources have been utilized to form structures at low levels to collect samples of SARS Cov-2 from a large base of population and to curb the situation of the pandemic through the development of vaccines and to provide a research base for all genomic researches and  development of healthcare systems.

MARKET DYNAMICS

Drivers:

The biobanking market has been experiencing a diversified growth in all segments and across different regions due to the rising populations and the increased expenditure being made by the Government and private sector healthcare companies towards the development of various biobanks to collect samples, tissues, blood which could be used for further reference to find out solutions and medicines to different forms of diseases.

Secondly, the increase in research activities for studying various kinds of diseases has played a major role in the increase in demand for the global biobanking market equipment and has provided a boost to the overall market structure. Also, the rising demand for cost-effective drug discovery and development of low-cost medicines have increased the need for various researches which has subsequently increased the biobanking market share.

Another major driver in the global biobanking market has been the ever-increasing health awareness programs and missions which have motivated people all over the world towards improvement in their health stats and to also be aware of the diseases that can affect them in any manner. Also, another biobanking market trend that has been seen off late is the conservation of cord blood stem cells of newborns which have widened the application of the global biobanking market.

Restraints:

The overall growth in the biobanking market has been expediently rising but certain factors hinder the growth process of the market which include large sums of money to be invested initially in setting up biobanking companies and thus it restricts various new players to enter the markets.

Another key factor that acts as a barrier towards an increase in biobanking market share is the issues related to the procurement of biospecimen samples which is quite a hectic process and involves several rigid complications and processes to be fulfilled. This bars most of the patients since it is a time-consuming and lengthy process.

Another key restraint that has been observed off late is the high cost of biobanking equipment which bars most of the patients who are not aptly equipped with all the financial resources and also affects the biobanking market share since it cannot cater to the diverse variety of patients of different sections of the society.

Technology Analysis:

The biobanking market trends have been dedicated towards the use of improved technology in the treatment process since the procedure for biobanking is based on highly scientific procedures and methods, it is usually carried on with the help of advanced tools and machines.

However, to be more specific, biobanking markets have recently been indulged in stem cell services that involve the use of novel technologies for stem cell preservation, storage, and processing. Apart from this, the technology involved in biobanking markets is focused on developing regenerative medicines which is a technical process using advanced machines and laboratory systems.

The technological system to be used shortly in the biobanking market involves using robotics and artificial intelligence systems to provide for specific and timely collection of samples with minimal human involvement and barring all the drawbacks associated with the biobanking market.

Study Objectives:

• To analyze the trends that are prevalent in the global biobanking market regions and players that will dominate the global trends and lead the biobanking market operations towards growth figures that have been predicted by the prominent leaders in the international market and key experts for the ongoing forecast period that ends in 2028. 

• To understand the scale of functioning of the global biobanking market segments that are prevalent through their ability to meet the vibrant needs of the target audience for market products and services. 

• To draw a competitive scale amongst the global biobanking market players and to understand the recent developments of the key biobanking market players in the recent past that promise great results to the market for the ongoing forecast period and automotive refinish coating market trends that end in 2028. 

Segment Overview: The biobanking market has been segmented as follows:

By Product and Service

• Equipment


• Consumables


• Services


• Software

By Sample Type

• Blood Products


• Human Tissues


• Nucleic Acids


• Cell Lines


• Biological Fluids


• Human Waste Products

By Application

• Regenerative Medicine


• Life Science Research


• Clinical Research

 By Region

North America

○     The U.S.

○     Canada

○     Mexico

 Europe

○     Germany

○     France

○     UK

○     Italy

Asia-Pacific

○     Japan

○     China

○     Australia

○     India

 LAMEA

○     Brazil

○     Saudi Arabia

○     South Africa

Regional Analysis:

The global biobanking market has been divided into four regions where each region has been contributing significantly in terms of its capabilities and population demands. However, among the four regions, the Asia Pacific region has been accounting for the major biobanking market share whereby the key drivers towards the growth of the biobanking industry are developed here, and the population seems to be quite interested in the innovations in terms of new products in the market.

The major biobanking market revenue is expected to come from countries like China, Japan, Korea, and India. The biobanking statistics indicate that the population along with the disposable incomes of people of these countries has been increasing which has led to shifts in lifestyles and changing demands. The shift of the people towards health awareness and the need for regenerative medicines have also been rising which contribute towards the growth of the biobanking market in this sector.

The European region has also been experiencing major growth with contributions coming from developed nations such as France, Germany, Denmark, Belgium, etc. since most of the people in these countries have been involved in developing the healthcare services and collection of samples using advanced technology with the fundings coming from the Government as well.The North American region is also experiencing vast growth in biobanking market shares as the countries in this region have been reaping the benefits of technology thereby maximizing the level of operations and reducing operational cost.

Competitive Landscape:

The competitive landscape in terms of the biobanking market has been immense and nail-biting with new players easily entering the market and the existing players making huge investments in this segment.

• Hamilton Company


• Greiner Holding AG


• Promega Corporation


• Becton, Dickinson, and Company


• Merck KGaA


• VWR Corporation


• Tecan Trading AG


• Thermo Fisher Scientific Inc.


• Panasonic Healthcare Holdings Co., Ltd.


• Qiagen N.V.


• Brooks Automation Inc.


• Chart Industries Inc.

The key players in the market are more focused on developing future strategies and set themselves as joint ventures to increase the biobanking market share and size.

Recent Developments:

• Recently Québec Covid 19 biobank started its operation in Canada. The main objective behind starting this biobank is to collect samples of the SARS CoV-2 virus and to study the deadly effects associated with it and how to generate medicines to curb the deadly virus. This biobank was launched by Genome Québec.

• In recent years the world’s largest stem cell biobank was launched at Lund University in Sweden which had stem cells from both healthy and affected individuals. This biobank would provide stem cell biobanking services such as preservation and storage of stem cells and also study the therapeutic potential of stem cells. 

• The Governments of various countries have been promoting the biobanks as recently it was viewed that the Federal Ministry of education and research(Germany) provided funds to the German biobank as an aid to continue their research and has agreed to do it for three years. 

 Report Overview:

The Global report helps the investors to gain meaningful information about the biobanking market and make decisions wisely. The report discusses the steps taken by the biobanking market leaders to boost the market growth and inflate market valuation for their good. The report fully summarises the ongoing market scenario in the biobanking market which would help the intended audience to seek more information about the market. The objective of the report was to fully summarise the key players in the market and their role in boosting the biobanking market value. The report also discusses the future growth prospects and the competitive landscape in the biobanking industry and lays down the expected growth rate of the market along with the hindrances it may face.