Biobanking Market Size to Reach USD 67.90 Billion in 2030 Growing at a CAGR of 8.6% During Forecast Period 2021-2030, says Emergen Research

Vancouver, British Columbia--(Newsfile Corp. - April 1, 2022) - The global biobanking market size is expected to reach USD 67.90 Billion in 2030 and register a revenue CAGR of 8.6% over the forecast period, according to latest analysis by Emergen Research. Increasing genomic research activities and investment in R&D by major companies is driving global biobanking market revenue growth. Surge in research activities of regenerative medicines, stem cell therapeutics, and cell and gene therapy is also driving revenue growth of the global market.

Drivers: Increased application in clinical and scientific research

Biobanks are an important resource for genomics, proteomics, metabolomic research, molecular epidemiology, translational studies, and therapeutic target creation. Thus, academic and industry researchers are showing increased interest in biobanking. Biobanking is gaining traction in the field of biomedical research. Several biobanks across the globe are assisting in medical research and clinical trials of personalized medicine as they aid in identification of biomarkers and various pharmaceutical treatments.

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Biobanking market revenue growth is also driven by increase in application of bio-banked samples. Biobanks focusing on plants, animals, and microbes are evolving rapidly. Different types of biobanks are gaining traction, such as disease-centric biobanks, population-based banks, DNA/RNA banks, genetic banks, tissue banks, blood banks, virtual biobanks, stem cell banks, microbiome banks, and others, which is driving market revenue growth. Biobanks enable access to large pool of high-quality samples and associated data. These are reliable hubs for storage and processing of samples from clinical trials and other sources. Biobanks help to achieve important conditions for achieving reproducible research results.

Current Trends and Innovations

Biobanks has entered the Big Data era with advancements in Artificial Intelligence (AI)-driven data analytics, process automation, robotics, and other technological advancements. This has resulted in higher quality biobanking data and contribute to a shift to data driven science. Well processed Big Data allow collaboration of biobanks in different regions and with advanced technology, these data can be handled easily. Storage option on cloud also helps resolve limited local storage capacity issue.

Geographical Outlook

Market in North America accounted for largest revenue share in 2020 due to advancements in drug discovery and increased investment in personalized and regenerative medicine. Increasing prevalence of cancer, cardiovascular, and infectious diseases is boosting growth of the market in the region. Large number of clinical trials related to COVID-19 and increasing usage of stem cell therapies for treatment of various chronic diseases is also driving market growth.

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Some Key Highlights From the Report

• Human tissue segment is expected to register a rapid revenue growth rate during the forecast period owing to large number of biobanks with facilities to store tissues, availability of samples and advanced technology for storage and retrieval of stored tissues. Increased investment in disease specific R&D is expected to propel demand for diseased tissues associated with myeloma, leukemia, lymphoma, prostate and lung, among other for oncology studies.
• Biobank software helps biobanks to manage samples and metadata, automate and streamline workflows, locate stored samples, and remove data silos. Biobank software can be accessed anywhere, anytime and enable biorepositories to scale up and automate operations without having to invest in IT infrastructure.
• Among the application segments, the regenerative medicine segment accounted for significantly large revenue share in 2020. Increasing demand for qualitative bio samples and increasing research in regenerative medicine is driving revenue growth of this segment. Additionally, research programs designed to increase R&D in sustainable medicine is expected to continue to support revenue growth of this segment.
• Some major companies in the global market report are U.K. Biobank Limited, Medizinische Universitat Graz, Hamilton Company, ASKION, Azenta Life Sciences, Qiagen, Promega Corporation, Integrated Biobank of Luxembourg (IBBL), Isenet Biobanking, and Thermo Fisher Scientific, Inc.

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Emergen Research has segmented the global biobanking market on the basis of product & services, sample type, storage type, application, and region:

• Product & Services Outlook (Revenue, USD Billion; 2018-2030)
  • Equipment
    1. Storage Equipment
    2. Sample Transport Equipment
    3. Sample Processing Equipment
    4. Sample Analysis Equipment
  • Consumables
    1. Collection Consumables
    2. Storage Consumables
    3. Processing Consumables
    4. Analysis Consumables
  • Services
    1. Supply Services
    2. Processing Services
    3. Storage Services
    4. Transport Services
  • Software
• Sample Type Outlook (Revenue, USD Billion; 2018-2030)
  • Biological Fluids
  • Human Tissues
  • Blood Products
  • Nucleic Acids
  • Human Waste Products
  • Cell Lines
• Storage Type Outlook (Revenue, USD Billion; 2018-2030)
  • Automated Storage
  • Manual Storage
• Application Outlook (Revenue, USD Billion; 2018-2030)
  • Regenerative Medicine
  • Life Science Research
  • Clinical Research
• Regional Outlook (Revenue, USD Billion; 2018-2030)
  • North America
    1. U.S.
    2. Canada
    3. Mexico
  • Europe
    1. Germany
    2. U.K.
    3. France
    4. Spain
    5. BENELUX
    6. Rest of Europe
  • Asia Pacific
    1. China
    2. India
    3. Japan
    4. South Korea
    5. Rest of APAC
  • Latin America
    1. Brazil
    2. Rest of LATAM
  • Middle East & Africa
    1. Saudi Arabia
    2. UAE
    3. Israel
    4. Rest Of MEA

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About Emergen Research

Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

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