Biobanking Market Set to Grow at 6.3% CAGR Through 2032

Introduction

The global biobanking market is projected to expand significantly, from USD 48.9 billion in 2022 to an estimated USD 88.7 billion by 2032, achieving a compound annual growth rate (CAGR) of 6.3% over the decade​ (Market.us)​. This growth is driven by the increasing demand for biobanks in medical research, which plays a critical role in advancing drug discovery, clinical diagnostics, and the development of personalized medicine.

Europe is currently the leader in the biobanking market, attributed to its well-established infrastructure, substantial public and private investments, and robust research activities. North America follows closely, benefiting from advanced technological applications in biobanking and significant clinical research efforts​​. Meanwhile, the Asia-Pacific region is recognized as the fastest-growing market, spurred by government initiatives and rising investments in healthcare research​​.

Recent advancements include the introduction of innovative biobanking equipment like the PHCbi VIP ECO SMART ultra-low temperature freezer in February 2023, which offers enhanced energy efficiency for labs and research institutions. Additionally, strategic partnerships and technological innovations are shaping the market. For example, AstraZeneca’s research in October 2023 leveraged biobank data to improve drug discovery processes​.

However, the biobanking sector faces significant challenges, such as high initial setup costs, complex bio-specimen acquisition processes, and expensive biobanking equipment. These factors pose barriers to entry for new market players and limit the accessibility of biobanking services across different economic classes​.

Despite these challenges, the biobanking market’s outlook remains positive, driven by continuous innovations and the global push towards personalized and regenerative medicine.

Key Takeaways

• Market Projection: The biobanking market is projected to hit USD 88.7 billion by 2032, expanding at a CAGR of 6.3% from 2022.
• Health Challenges: Rising untreatable diseases prompt increased biobank sample collections to facilitate future research endeavors.
• R&D Investments: Enhanced investments in healthcare research activities are propelling growth within the biobanking sector.
• Equipment Dominance: The demand for sample storage solutions positions biobanking equipment as a market leader.
• Blood Sample Demand: Due to their rich DNA and RNA content, blood samples are predominantly used in non-cancer research studies.
• Life Sciences Impact: Life science applications significantly drive the biobanking market, underpinning its growth.
• Sustainability Focus: Biobanks are increasingly focusing on sustainability to secure long-term funding and ensure continuous market expansion.
• European Leadership: Europe leads the global biobanking market, backed by well-established biobanks and extensive research initiatives.

Biobanking Statistics

• More than 30,000 researchers use the UK Biobank data regularly.
• In July 2022, the exome sequencing of 500,000 participants was released.
• The Our Future Health initiative aims to recruit 5 million participants, with over 800,000 already consenting.
• The Discover Me South Africa study plans to enroll up to 100,000 people.
• Chennai Public Cord Blood Bank: Chennai has the largest public cord blood bank in India with over 375,000 units banked as of July 2023.
• Stem Cell Transplants: Apollo Hospitals in Chennai has performed over 1,500 stem cell transplants by September 2022.
• LifeCell: One of the largest private cord blood banks in India, LifeCell has about 375,000 cord blood units banked.
• Thalassemia Incidence: Around 100,000 children are born annually with blood-transfusion-dependent thalassemia.
• Ethnicity and HLA Matches: Only 25% chance of finding an exact HLA match within a family, highlighting the need for diverse donor registries.
• Eric Schmidt and Ken Griffin donated over £16 million each for UK Biobank.
• UK Biobank is a leading global biomedical database with genetic and health data from 500,000 UK volunteers.
• Government will match private and philanthropic contributions up to £25 million for UK Biobank.
• AI could be used to analyze UK Biobank data for health discoveries.
• UK Biobank has supported research into various diseases like cancer, heart diseases, and Alzheimer’s.
• Over 9,000 peer-reviewed papers have been published using UK Biobank data.
• Biobank Graz: Established in 2007, holds 20 million human-derived samples for diverse scientific research.
• Shanghai Zhangjiang Biobank: A commercial biobank in China targeting 10 million human-derived samples for biological research and product development.
• All of Us Biobank: Aims to enroll 1 million participants in the USA for health research across various diseases and conditions.
• International Agency for Research on Cancer Biobank: Stores biological samples from 562,000 individuals, focusing on cancer research.
• China Kadoorie Biobank: Includes over 510,000 participants from China, studying genetic and environmental factors affecting chronic diseases.
• UK Biobank: Enrolled 500,000 participants aged 40-69 to explore disease causation factors for better prevention and treatment.
• FINNGEN Biobanks: Targets 500,000 Finnish participants, integrating genetic data with healthcare records for enhanced disease analysis.
• Canadian Partnership for Tomorrow’s Health: Investigates causes of cancer and chronic diseases with over 330,000 participants in Canada.
• Estonian Biobank: Focuses on genetic, environmental, and lifestyle factors in health, involving 200,000 participants in Estonia.
• EuroBioBank Network: Provides access to over 150,000 biological samples from rare diseases across Europe for research purposes.

Emerging Trends

• Precision Medicine and Genomics: The increasing focus on precision medicine is significantly propelling the biobanking industry. Biobanks are becoming crucial for storing biological samples such as tissues and blood products, which are used to develop personalized treatments based on individual genetic backgrounds. This trend is driven by advancements in genomic and proteomics research, which require high-quality biospecimens to study rare and complex diseases​.
• Technological Advancements in Equipment: The biobanking market is witnessing a surge in the adoption of advanced technological equipment. The segment of temperature control systems, including freezers and refrigerators, is particularly dominant, owing to their critical role in maintaining the viability of stored biosamples. This trend is expected to continue, supported by the increasing use of biobanking for long-term biological storage​.
• Expansion in Asia Pacific: Asia Pacific is emerging as a high-growth region for biobanking. This is attributed to the increasing geriatric population prone to chronic diseases, improvements in healthcare infrastructure, and heightened demand for biospecimens. The region’s market is expanding rapidly, with significant investments being made in biobanking facilities to support local and global research initiatives​.

Use Cases

• Support for Blood Disorder Research: Biobanks play a pivotal role in the research of blood disorders, as they store blood products and tissues that are essential for studying conditions like anemia. With the global incidence of anemia affecting approximately 1.62 billion people, the demand for high-quality blood samples for research purposes is more critical than ever. This use case underscores the importance of biobanking in facilitating medical research aimed at understanding and treating blood-related health issues​.
• Regenerative Medicine: In the realm of regenerative medicine, biobanks are invaluable for storing cell lines and human tissues that are used to develop therapies for restoring or establishing normal function in damaged tissues and organs. This area is seeing increased activity as researchers and healthcare providers look to biobanking as a resource to support innovations in tissue engineering and regenerative treatments​.
• Life Sciences Research: Biobanks are fundamental to the life sciences sector, where they support a broad range of research activities from basic biological studies to complex drug development processes. By providing researchers with access to diverse biological samples and associated data, biobanks enhance the ability to explore genetic, environmental, and phenotypic aspects of various diseases, thereby accelerating scientific discoveries and therapeutic advancements​.

Key Players Analysis

• UK Biobank is a pivotal entity in the biobanking sector, maintaining a comprehensive biomedical database with genetic, lifestyle, and health information from over half a million UK volunteers. This resource is extensively utilized by approved researchers globally, facilitating significant medical advances in disease understanding and treatment. Its dataset, rich with various health data, continues to expand, supported by substantial funding from both governmental and private sectors, aimed at enhancing its research capabilities and infrastructure.
• The Integrated BioBank of Luxembourg (IBBL) is a not-for-profit institute that plays a crucial role in the biobanking sector by supporting biomedical research with an emphasis on quality and compliance with international standards. Operating since 2008 under the Luxembourg Institute of Health, IBBL provides a comprehensive suite of bioservices. These include the collection, processing, analysis, and storage of biological samples, alongside conducting research to optimize biospecimen quality. Its activities contribute significantly to advancing personalized medicine, with a strong focus on fostering scientific excellence and catalyzing partnerships to develop new healthcare solutions​.
• The Shanghai Zhangjiang Biobank, managed by Shanghai Outdo Biotech Co., Ltd., stands as a significant player in the biobanking sector. Situated in Zhangjiang Science City, Shanghai, this facility is notable for its extensive collection, targeting a storage capacity of 10 million human-derived samples, such as tissues, cells, and blood. The biobank is equipped with cutting-edge genomic and proteomic research platforms and prioritizes the rapid translation of research into products. Notably, it has successfully launched a liver cancer diagnosis kit among other FDA-approved products. The biobank represents a vital resource for major disease research and showcases substantial government and private investment, enhancing its role in global biobanking efforts.
• Thermo Fisher Scientific Inc. plays a pivotal role in the biobanking sector by offering a comprehensive range of products and services. These include cutting-edge equipment for sample collection, preparation, and automation, as well as advanced solutions for cold storage and wireless monitoring. The company’s offerings are designed to enhance sample security, maintain sample integrity, and optimize laboratory productivity. Moreover, Thermo Fisher’s informatics solutions facilitate the efficient sharing of information, which is crucial for advancing scientific research and discovery in various life science fields.
• ISENET Biobanking, part of the Air Liquide Healthcare Group, operates within the robust framework of the European biobanking network. Established in Milan, it provides essential services such as cryopreservation and quality control for stem cells, contributing significantly to the biobanking sector. This facility aligns with the rigorous standards of ISO 9001 and NFS 96-900, ensuring high-quality specimen handling and data accuracy. Furthermore, ISENET’s integration under the Air Liquide network, which acquired it in 2018, highlights its strategic role in enhancing biobanking capabilities across Europe.
• Brooks Life Sciences, now rebranded as Azenta Life Sciences, plays a pivotal role in the biobanking sector by providing advanced sample management solutions. The company operates global biorepository facilities, employing a fully integrated portfolio that enhances the efficacy of sample exploration and management. This integration significantly supports the acceleration of personalized medicine development, ensuring the safe and efficient storage of biological samples critical to research and clinical trials.
• Hamilton Company has significantly enhanced the biobanking sector through its automated solutions, such as the BiOS and SAM HD systems, which streamline sample storage and processing. These systems ensure sample integrity by maintaining precise environmental controls and automating processes like barcode scanning, which minimizes human error and contamination risks. Their solutions are designed to optimize lab space and energy use, offering scalable and efficient management of biological samples, crucial for high-throughput biobanking workflows.
• ASKION plays a significant role in the biobanking sector with its ASKION C-line® system, which exemplifies next-generation cryogenic storage solutions. This system is designed to be highly flexible and scalable, accommodating needs from small collections to extensive biobanking requirements with millions of samples. It integrates controlled freezing and nitrogen gas phase storage to maintain sample quality and traceability, while supporting both semi-automated and fully automated configurations. The modularity of the ASKION C-line® allows for future expansions without disrupting existing workflows, making it a versatile choice for biobanks looking to scale operations efficiently.

Conclusion

In conclusion, the biobanking market is poised for substantial growth, fueled by the escalating need for medical research and the development of personalized medicine. Despite facing challenges such as high initial costs and complex specimen acquisition, the sector is likely to continue its expansion, driven by advancements in biobanking technology and growing global health research demands. Europe’s leading position, supported by robust infrastructure and investments, along with the rapid expansion in the Asia-Pacific region, underscores the global importance of biobanks. As biobanking becomes integral to healthcare innovation, its role in enhancing disease understanding and treatment is expected to strengthen, solidifying its impact on the future of medical science and health services.

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