Towards Healthcare
Biobanking Market Size & Trends | 9.1% CAGR Growth by 2034

Biobanking Market Size to Increase by USD 208.81 Billion by 2034

The Biobanking Market size is to expand from $95.35 million in 2025 to $147.39 million by 2030. Europe held a dominant 36.41% share in 2023 and will continue to lead, while Asia Pacific is expected to grow at the fastest rate. In terms of product segments, biobanking equipment was the largest market share holder in 2023, and Laboratory Information Management Systems (LIMS) are forecasted to grow the fastest. The biobanking & repository services led in 2023, and human tissues were the most dominant biospecimen type, with stem cells anticipated to grow rapidly.

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.

Biobanking Market Revenue 2023 - 2034

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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.

Biobanking Market: Sample Preservation

A collection of human biological samples and related data that has been methodically arranged for research purposes is known as a biobank. In response to the shifting requirements of researchers and projects utilizing specimen banking, as well as to external regulatory and associated demands, the area of biorepository and biospecimen science has developed. This shifting environment can be partially ascribed to the increased accuracy of the related scientific domains as well as to new sciences like proteomics, genomics, and customized medicine.

How can AI Improve the Biobanking Market?

By combining artificial intelligence (AI) with digital pathology, pathology diagnostics that rely on innovative tiny devices may operate more quickly, accurately, and remotely. This facilitates interdisciplinary consultations and supports clinical trials. By identifying novel biomarkers, creating diagnostic plans, and assisting in the choice of targeted treatments, AI deployment in biobanks can ultimately result in more cost-effective and environmentally friendly medical care.

For instance,

  • In July 2023, at the Ionian University, a major breakthrough was made in the processing of biomedical data using state-of-the-art artificial intelligence techniques. The goal was to advance research into critical disorders. The group has successfully built ten cutting-edge AI biobanks.

Top Companies in the Biobanking Market

  • Thermo Fisher Scientific Inc.
  • EIT Health
  • Precision Cellular Storage Ltd. (Virgin Health Bank)
  • BBMRI-ERIC
  • Danaher Corporation
  • Biocision, LLC.
  • Charles River Laboratories
  • Becton, Dickinson, and Company (BD)
  • Taylor-Wharton
  • Hamilton Company
  • Stemcell Technologies
  • Merck KGaA
  • Qiagen
  • Lonza
  • Biovault Family
  • Tecan Trading AG

Recent Launch by EIT Health in the Biobanking Market

Company Name EIT Health
Headquarters Munich, Germany, Europe
Recent Development In May 2024, EIT Health introduced a new Biobanks and Health Data Portal. The portal's goal is to promote increased cooperation and use of biobanks—valuable collections of biological samples and related health information.

Contribution of Verisense Health in the Biobanking Market

Company Name Verisense Health
Headquarters Cambridge, U.S., North America
Recent Development In August 2024, the Verisense Digital Biobank, which contains digital health data from over a million individuals representing both particular illnesses and healthy populations, was launched, according to Verisense Health. At present, the Verisense Digital Biobank comprises information from over 570 research projects conducted by Verisense Health as well as other researchers. As of August 2024, the Verisense Digital Biobank has over a million members; the number of business projects will climb to two million by the end of the year.

Tools & Technology Advancements Drive the Biobanking Market

High-quality biomedical research requires a well-managed biobank. Due to recent advancements in molecular biology and genetics methods and technologies, the need for adequately maintained, well-annotated specimens has risen. Over the last twelve years, biobanks have been established on numerous continents in response to this need, and others are now under construction.

For instance,

  • In August 2022, a state-of-the-art automated biobanking system capable of storing up to 10 million biospecimens—including tissue, genetic and protein material, blood, and bodily fluids—was inaugurated by Vanderbilt University Medical Center. The system operates at extremely low temperatures.
  • In April 2022, the MBRU and the DHA will work with the Al Jalila Foundation to create the first robotic biobank in the United Arab Emirates. Research into cancer, genetic disorders, and other chronic illnesses and pandemics will all benefit from the partnership.

The Biobanking Market Faced Ethical Challenges

The notion that biobanks are impartial repositories or storage facilities for knowledge seems dubious and supports the breadth of the ethical discussion. The potential ethical problems with biobanking have not received much attention. Research with biobanks raises several special questions with moral ramifications. Multiple researchers and institutions—academic and commercial—may be involved in the sample use process; as a result, everyone involved must adhere to the same ethical guidelines.

Many Factors Can be Improved in the Biobanking Market in the Future

Biobanks are remarkable resources for scientific advancement and research. Since their inception, there has been ongoing discussion regarding their primary technological, legal, and moral characteristics. The implementation of common governance and harmonization measures, the need to raise the technical standards for sample collection, conservation, and use, the value of strengthening biobank networks through public-private partnerships, and the sustainability of these infrastructures are all important considerations for the future of biobanks.

For instance,

  • In April 2023, a new specialized group was formed to create an international network of biobanking for conservation. The ABC SG aims to construct facilities that cryopreserve live animal cells and tissues by establishing a global network to exchange knowledge and experience.

The Biobanking Equipment Segment Dominated in 2023

By product, the biobanking equipment segment held the largest share of the biobanking market in 2023. Biobanks employ various equipment, ranging from simple tools like pipettes to sophisticated and costly machinery like cytometers or sequencers. The equipment management procedure ensures that the Biobank will have the tools necessary to perform its operations if designed and executed correctly. By monitoring them appropriately, it is feasible to guarantee that the devices will operate safely, fulfill requirements, and have a longer service life.

For instance,

  • In February 2024, the innovative, automated BioArcTM Ultra, an environmentally friendly, high-density ultracold sample handling system, was recently introduced by Azenta, Inc. It is intended to offer a new standard of performance for managing samples on a big scale, and it has the power to completely alter the biorepository industry.

Fastest Growing During 2024-2033: The LIMS Segment

By product, the Laboratory Information Management Systems (LIMS) segment is anticipated to grow at the fastest rate in the biobanking market during the forecast period. A LIMS, or Laboratory Information Administration System, is a software program designed to help laboratories with their automation, data administration, and regulatory needs. As the name implies, a LIMS efficiently maintains laboratory samples and the data that goes along with them, standardizing processes through workflow maintenance and automation, test management, and reporting protocols. A LIMS improves the effectiveness, precision, and dependability of laboratory operations, facilitating better decision-making and results.

For instance,

  • In April 2024, USAID, UNDP, the Ministry of Home Affairs, and New Growth Industries introduced the LIMS as a fully functional management system for the NFSS Forensic Laboratory to enhance citizen security in Belize. This program is a component of the InfoSegura project, which assists organizations in creating and implementing evidence-based citizen security policies.

The Biobanking & Repository Segment was Dominant

By service, the biobanking & repository segment dominated the biobanking market in 2023. The phrases biobank and biorepository are sometimes used synonymously. They both allude to specialized facilities used to manage and store tissues, blood, DNA, and related information. A biobank or biorepository is almost always maintained by any laboratory that houses a sample storage library. In both situations, these biological sample banks have significant uses in scientific and medical research.

For instance,

  • In October 2023, to support research, the Swedish Embassy established a biorepository at the Muhimbili University of Health and Allied Sciences (MUHAS) and an innovation incubation hub at the Mloganzila campus of the Muhimbili National Hospital (MNH).

The Human Tissues Segment Dominated in 2023

By biospecimen type, the human tissues segment dominated the biobanking market in 2023. Human tissues are now being utilized in a wide range of scientific research projects, such as studies on diseases and disorders, including cancer, diabetes, heart disease, Alzheimer's disease, and other dementias, as well as treatments for diseases like multiple sclerosis and Parkinson's. Furthermore, the use of human tissue as biosensors to identify chemical or biological danger ants and in microfluidic systems for toxicological testing is widespread.

For instance,

  • In November 2023, AIG Hospital in Gachibowli hosted the opening of South India's first private BioBank. The facility is devoted to the storage and examination of human tissue samples for a range of scientific uses. The BioBank wants to gather one lakh blood and tissue samples in the next three years and preserve them for ten more years. Researchers, physicians, and scientists will benefit from this repository's access to high-quality human tissue samples and other essential biosamples.

The Stem Cells Segment is the Fastest Growing

By biospecimen type, the stem cells segment is expected to grow at the fastest rate in the biobanking market during the predicted period. Stem cells have a potential future in regenerative medicine and aid in natural healing. Stem cell banking, which involves the long-term preservation of various stem cell platforms, is a key means of maintaining the original characteristics of stem cells for use in patient-specific therapeutic applications. The essential and indivisible modules of stem cell research and clinical translation are facilitated by biobanking activities and yield a return on investment.

For instance,

  • In September 2023, the Abu Dhabi Crown Prince approved the use of human tissues and stem cells in the development of customized medical research. In order to enable the delivery of individualized medicine through cutting-edge treatment programs that employ human stem cells and tissues to improve medical research, the initiative will establish a biobank.

Types of Biobanks

The Physical/Real Biobanks Segment had the Largest Share

By biobank type, the physical/real biobanks segment held the largest biobanking market share in 2023. Physical biobanks are the places where actual samples are stored and preserved for future use. Such physical banks are equipped with all the necessary equipment, software, kits, and reagents to store the samples properly.

The Virtual Biobanks Segment is Growing with the Fastest CAGR

By biobank type, the virtual biobanks segment is estimated to grow at the fastest CAGR in the biobanking market from 2024 to 2033. Virtual biobanks are sizable databases that include high-resolution sample photos and additional descriptive information. Through web portals or specialized software, users may access these virtual biobanks. Samples are kept apart from one another. Access to pre-collected data is possible through virtual biobanks, negating the need for physical sample access. This makes it possible to transmit the sample's data more easily without worrying about contaminating, destroying, or moving the sample.

For instance,

  • In June 2024, with the inauguration of a new online site, Estonians who have sent DNA samples to the University of Tartu's Estonian Biobank now have access to a wealth of genetic data.

The Therapeutics Segment Dominated in 2023

By application, the therapeutics segment held the dominant share of the biobanking market in 2023. The quickly developing discipline of biobanking is now essential to advancing preclinical research and assisting with medication development. Biobanks are repositories that hold substantial collections of biological human materials, such as DNA, blood, and tissue samples. Researchers may access a wide range of biosamples from these archives, which they can utilize to better understand disease causes and patient outcomes.

For instance,

  • In February 2023, the Indian Institute of Technology (IIT) in Kharagpur and the Tata Medical Center in Kolkata launched CHAVI, the nation's first completely annotated, relational, de-identified cancer image library. The two preeminent Indian universities initiated an unprecedented scientific relationship. The Comprehensive Archive of Imaging (CHAVI) has yielded significant benefits for cancer research in India.

The Pharmaceutical & Biotechnology Companies Segment Dominated

By end-use, the pharmaceutical & biotechnology companies segment dominated the biobanking market in 2023. These companies are involved in various research and development associated with diseases, therapeutics, the functioning of human cells, and so on. All these activities utilize human cells for conducting various experiments, and hence, these companies utilize biobanks for storing samples.

Multiple Factors Contribute to Europe’s Dominance

Biobanking Market EU, NA, APAC, LA, MEA Share, 2023 (%)

By region, Europe dominated the biobanking market share by 36.41% in 2023. One major factor driving market expansion is the existence of well-established biobanks in European nations such as the United Kingdom, Germany, Denmark, Norway, and Sweden. According to a Global Engage article, almost 40% of Icelanders have given DNA, which is kept in biobanks. Thus, the biobanking sector has expanded as a result of Europe's increasing sample supply. In recent years, the market has grown due to the increasing expenditures made by pharmaceutical firms in research and development, as well as the growing use of virtual biobanking technologies in Europe.

Transnational research infrastructure projects are becoming an increasingly important component of EU research policy and of European integration in general, even though they existed for a long time before the official integration process that gave rise to the European Union. In recent times, the European Union has formalized scientific collaboration through the Research Infrastructure–European Research Infrastructure Consortium (BBMRI–ERIC), which is an example of institutionalized research collaboration in Europe. European integration and research are anticipated to benefit from BBMRI–ERIC, a network of biobanks across Europe.

Company Name BBMRI-ERIC
Headquarters Graz, Austria, Europe
Biobanks Connected 642 (2022)
Collections 3453 (2022)
Countries Contributing Collections 32 (2022)
Average Users Per Month 532 (2022)
Total Users 1178 (2022)
Donors in the Federated Platform 422,576 (2022)

BBMRI-ERIC (A Biobank) Turnover 2020 - 2022 (In EUR)

Biobanking Research is Increasing in the Asia Pacific

By region, Asia Pacific is expected to grow at the fastest rate during the forecast period. Asia-Pacific is the biobanking market with the quickest rate of growth due to the region's increased investment in biobanking research and the rising incidence of chronic illnesses. The main cause of this is China's enormous potential. Due to their increased investment in research, China, Japan, and India have been the main drivers of the region's growth in the life sciences sector.

NLDB is a first-of-its-kind national biobank, executed as a joint initiative of the Department of Biotechnology (DBT) and the Institute of Liver & Biliary Sciences (ILBS) for translational research in liver and allied diseases. NLDB is the first biobank in India certified by CTR.Net, CANADA, and accredited by ISO 20387:2018.

National Liver Disease Biobank Data, India (2022)
Bio samples Sharing 8772
Patients Enrolled 26855
Sample Aliquots 185270
No. of NGS Tests 8198
No. of Mass Spectrometry Tests 6510
No, of Flow Cytometry Tests 3526
No. of Animal Pathology Tests 8291

Recent Developments in the Biobanking Market

  • In May 2024, the area's biggest hybrid cord blood bank was the initial offering of the Abu Dhabi Biobank, which was established in partnership with M42 and the Department of Health in Abu Dhabi (DoH).
  • In April 2024, to further democratize global access to this biomedical database, UK Biobank established a new Global Researcher Access Fund that will pay application fees for researchers at institutions in less developed nations who have been accepted.
  • In February 2024, The Yellow Card Biobank of the Medicines and Healthcare Products Regulatory Agency (MHRA) said it would start looking into a new class of medications to prevent strokes. The Yellow Card Biobank, which was first established in collaboration with Genomics England in June 2023, will contribute to a better understanding of how a person's genetic composition might affect the safety of medications and the development of customized treatment techniques.

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
    • U.S.
    • Canada
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Thailands
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Sweden
    • Denmark
    • Norway
  • Latin America
    • Brazil
    • Mexico
    • Argentina
  • Middle East and Africa (MEA)
    • South Africa
    • UAE
    • Saudi Arabia
    • Kuwait
  • Insight Code: 5203
  • No. of Pages: 150+
  • Format: PDF/PPT/Excel
  • Published: August 2024
  • Report Covered: [Revenue + Volume]
  • Historical Year: 2021-2022
  • Base Year: 2023
  • Estimated Years: 2024-2033

Meet the Team

Kesiya Chacko is a healthcare market research expert with 4+ years of experience, specializing in analyzing industry trends, assessing market opportunities, and providing actionable insights for businesses in healthcare sectors.

Learn more about Kesiya Chacko

Aditi Shivarkar, with 14+ years of healthcare market research experience, ensures the accuracy, clarity, and relevance of reports. Her expertise helps businesses make informed decisions and stay competitive in healthcare sectors.

Learn more about Aditi Shivarkar

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FAQ's

Biobanks are available in several varieties. These include population-based, genetic, DNA/RNA, project-driven, and tissue-based as opposed to multi-sample, disease-centric, commercial, and virtual biobanks.

Researchers may be able to obtain data from biobanks that represent a sizable population. Samples from biobanks are frequently available for use by several researchers, and the information obtained from them may be applied to studies with a variety of objectives.

National Institutes of Health, Department of Biotechnology, National Cancer Institute, UK Biobank, DST.