NEW
YORK, July 31, 2024 /PRNewswire/ -- The
global biobanking market size is estimated to grow by
USD 1.66 billion from 2024-2028,
according to Technavio. The market is estimated to grow at a CAGR
of 9.04% during the forecast period. Growing demand for
personalized medicine is driving market growth, with a trend
towards emergence of stem cells storage in biobanks. However,
increasing ethical issues poses a challenge. Key market players
include AMS Biotechnology Europe Ltd., ASKION GmbH, Azenta Inc.,
Bay Biosciences LLC, BioIVT LLC, Boca Biolistics LLC, CTIBiotech,
Cureline Inc., Danaher Corp., Firalis SA, GENETICIST Inc., Greiner
Bio One International GmbH, Hamilton Co., OraSure Technologies
Inc., PHC Holdings Corp., Promega Corp., ProteoGenex Inc., Shanghai
Genext Medical Technology Co. Ltd., Thermo Fisher Scientific Inc.,
and US Biolab Corp. Inc..
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Biobanking Market
Scope
|
Report
Coverage
|
Details
|
Base year
|
2023
|
Historic
period
|
2018 - 2022
|
Forecast
period
|
2024-2028
|
Growth momentum &
CAGR
|
Accelerate at a CAGR of
9.04%
|
Market growth
2024-2028
|
USD 1669.1
million
|
Market
structure
|
Fragmented
|
YoY growth 2022-2023
(%)
|
8.36
|
Regional
analysis
|
Europe, North America,
Asia, and Rest of World (ROW)
|
Performing market
contribution
|
Europe at
38%
|
Key
countries
|
US, Germany, Japan, UK,
and China
|
Key companies
profiled
|
AMS Biotechnology
Europe Ltd., ASKION GmbH, Azenta Inc., Bay Biosciences LLC, BioIVT
LLC, Boca Biolistics LLC, CTIBiotech, Cureline Inc., Danaher Corp.,
Firalis SA, GENETICIST Inc., Greiner Bio One International GmbH,
Hamilton Co., OraSure Technologies Inc., PHC Holdings Corp.,
Promega Corp., ProteoGenex Inc., Shanghai Genext Medical Technology
Co. Ltd., Thermo Fisher Scientific Inc., and US Biolab Corp.
Inc.
|
Market Driver
The biobanking market is experiencing significant growth due to
the increasing demand for stem cell storage. Stem cells have the
potential to address various medical needs in sectors like
cardiology and oncology. New biobanking facilities, such as those
launched by the Global Stem Cells Group in Chile, are dedicated to stem cell research to
improve access to novel therapeutic resources. Research
organizations are also investing in advanced production units to
enhance supply chain efficiency and increase production capacities.
Technological advancements, like IT in logistics and
temperature-controlled solutions, minimize errors and enable
large-scale stem cell therapy product manufacturing in a sterile
environment. These investments present substantial growth
opportunities for the biobanking market.
The Biobanking Market is witnessing significant growth due to
the increasing demand for human samples, particularly in the areas
of blood, plasma, serum, urine, tissues, and cells.
Disease-oriented biobanks and population-based biobanks are major
segments, with cancer, respiratory diseases, and Alzheimer's
disease being key focus areas. Sustainability and financial support
from public organizations are crucial for the industry's growth.
Tissue banks, blood banks, and stem cell biobanks are key players.
Biobanking plays a vital role in drug development, and the life
science segment is a significant consumer. Ethical challenges,
regulatory scrutiny, and informed consent are crucial
considerations. Technidata Medical Software and academic
institutions are important partners. Emerging countries offer
opportunities, but cold chain logistics and lab processing require
attention. Biobanking technologies are advancing, enabling
precision/personalized medicine, genetic testing, and regenerative
medicines.
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Market Challenges
- Biobanking, the process of collecting, storing, and managing
biological samples for research and diagnostic purposes, faces
ethical concerns regarding privacy and consent. Informed consent is
crucial to protect individuals' identities. However, there are
debates over the use of biobank data by private companies for their
interests. Ethical issues surround the research on biological
samples, particularly human embryonic stem cells, including
cloning, embryo destruction, and safety concerns. These debates and
disagreements may hinder the growth of the global biobanking
market, as they impact research and decision-making in various
countries.
- The biobanking market presents both challenges and
opportunities for smaller companies with limited financial
resources. One major barrier to entry is the high investment
required for infrastructure, including automated storage systems
and tissue processing facilities. Ongoing maintenance, operational
costs, software updates, and repairs add to the financial burden.
Training of skilled resources is also essential for effective
collection, storage management, sample distribution, and
administration. Developed markets offer lucrative opportunities,
but high operational costs can be a challenge. New technologies and
availability of biospecimens for research present opportunities,
but availability and effective collection come with their own set
of challenges. The long-term economic situation requires careful
consideration of costs associated with in-case collection, tissue
processing, and storage management. Low-cost manufacturing
advantage can help smaller companies compete, but they must stay
updated with the latest technologies to remain competitive.
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Segment Overview
This biobanking market report extensively covers market
segmentation by
- Type
- Product
- 2.1 Equipment
- 2.2 Consumables
- Geography
- 3.1 Europe
- 3.2 North America
- 3.3 Asia
- 3.4 Rest of World (ROW)
1.1 Physical- The Biobanking Market is a significant
industry that focuses on collecting, storing, and managing
biological samples for research and diagnostic purposes. Companies
in this market provide services such as sample collection,
processing, and long-term storage. Key players include Thermo
Fisher Scientific, Qiagen, and Corning Incorporated. Market growth
is driven by increasing research and development activities in the
healthcare sector and advancements in biotechnology. Biobanks play
a crucial role in enabling personalized medicine and drug
discovery.
For more information on market segmentation with geographical
analysis including forecast (2024-2028) and historic data
(2017-2021) - Download a Sample Report
Research Analysis
The biobanking market encompasses the collection, processing,
storage, and distribution of human samples, including blood,
plasma, serum, urine, tissues, and cells, for research and
diagnostic purposes. Two main types of biobanks exist:
disease-oriented and population-based. Disease-oriented biobanks
focus on specific diseases, such as cancer, respiratory diseases,
and Alzheimer's disease, while population-based biobanks collect
samples from large and diverse populations. Tissue banks and blood
banks are specialized types of biobanks. Biobanking plays a crucial
role in drug development, particularly in the fields of
regenerative medicines, cancer, and personalized medicine.
Sustainability, financial support from public organizations, and
ethical challenges, including informed consent and sample storage,
are key considerations. Technidata Medical Software and academic
institutions also contribute to the biobanking landscape. Stem cell
biobanks are a significant segment of the market, with potential
applications in regenerative medicine. Ethical challenges, such as
ensuring informed consent and maintaining sample integrity, must be
addressed to ensure the success and legitimacy of biobanking
initiatives.
Market Research Overview
The Biobanking Market encompasses the collection, processing,
storage, and distribution of human biological samples, including
blood, plasma, serum, urine, tissues, and cells. Biobanks come in
various forms such as disease-oriented, population-based, tissue,
blood, and stem cell biobanks. The market caters to diverse
applications like drug development, cancer, respiratory diseases,
Alzheimer's disease, and regenerative medicines. Sustainability and
financial support from public organizations are crucial. Technidata
Medical Software and other biobanking technologies facilitate
efficient operations. Ethical challenges and emerging countries
pose barriers to entry for smaller biobanking companies with
limited financial resources. Informed consent, sample storage, and
lab processing are key considerations. The Blood segment and Cells
& Tissue segment dominate the Life Science segment.
Precision/personalized medicine, genetic testing, biomedical
research, and genetic studies are significant applications. The
Biobanking Industry faces regulatory scrutiny and high operational
costs, but also offers lucrative opportunities due to new
technologies and low-cost manufacturing advantages. Ongoing
maintenance, software updates, repairs, and training are essential
for biobanking operations. The funding scenario is dynamic, with
investments and funding influencing buying behavior. Newborn
biobanks and automated equipment contribute to efficiency and
quality. Biobanking operations require skilled resources and
adherence to regulatory guidelines. Biospecimens are vital for
research, and new technologies aim to improve availability.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Type
-
- Product
-
- Geography
-
- Europe
- North America
- Asia
- Rest Of World (ROW)
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio