Biobanking Market Projected To Hit USD 88.7 Billion By 2032

Introduction

Global Biobanking Market size is expected to be worth around USD 88.7 billion by 2032 from USD 52.0 billion in 2023, growing at a CAGR of 6.3% during the forecast period from 2023 to 2032. In 2023, North America led the market, achieving over 32.5% share with a revenue of US$ 13.0 Billion.

This market growth is primarily fueled by the increasing demand for biobanks in medical research, which are essential in advancing drug discovery, clinical diagnostics, and the development of personalized medicine. Europe currently leads in the biobanking market, benefiting from its robust infrastructure, substantial public and private investments, and strong research initiatives. North America follows closely, supported by advanced biobanking technologies and significant clinical research activities. Meanwhile, the Asia-Pacific region is emerging as the fastest-growing market, driven by government support and rising healthcare research investments.

Recent advancements include the launch of cutting-edge biobanking equipment, such as the PHCbi VIP ECO SMART ultra-low temperature freezer in February 2023, offering enhanced energy efficiency for research institutions. Strategic partnerships and technological innovations, such as AstraZeneca’s research leveraging biobank data to enhance drug discovery, are also shaping the market.

However, the biobanking sector faces challenges, including high initial setup costs, complex bio-specimen acquisition processes, and expensive biobanking equipment. These barriers can hinder new entrants and limit access to biobanking services across different economic segments.

Despite these challenges, the outlook for the biobanking market remains optimistic, driven by ongoing innovations and the global shift toward 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

• Global Biobank Initiatives:
  • The UK Biobank includes data from 500,000 UK volunteers, with over 9,000 peer-reviewed publications based on its data.
  • The Our Future Health initiative in the UK aims to recruit 5 million participants, with over 800,000 already consented.
  • The Discover Me South Africa study plans to enroll up to 100,000 participants.
  • All of Us Biobank in the USA targets 1 million participants for research across various health conditions.
  • Biobank Graz (Austria) holds 20 million samples for scientific research, and Shanghai Zhangjiang Biobank (China) targets 10 million samples for research and product development.
  • The International Agency for Research on Cancer Biobank contains biological samples from 562,000 individuals for cancer research.
• National Biobank Projects:
  • The China Kadoorie Biobank includes over 510,000 participants, focusing on chronic disease research.
  • FINNGEN Biobank aims to integrate genetic and healthcare data from 500,000 Finnish participants.
  • Canadian Partnership for Tomorrow’s Health investigates cancer and chronic diseases with over 330,000 participants.
  • The Estonian Biobank focuses on genetic, environmental, and lifestyle factors with 200,000 participants.
• Private and Specialized Biobanks:
  • Chennai Public Cord Blood Bank (India) is the largest in the country with over 375,000 units banked.
  • LifeCell (India) is one of the largest private cord blood banks with around 375,000 units.
  • Stem Cell Transplants: Apollo Hospitals in Chennai has performed over 1,500 stem cell transplants by 2022.
• Research and Philanthropy:
  • Eric Schmidt and Ken Griffin each donated over £16 million to the UK Biobank.
  • The UK government will match up to £25 million in private and philanthropic contributions for the UK Biobank.
• Health Implications and Challenges:
  • Thalassemia affects around 100,000 children born annually, requiring blood transfusions.
  • The likelihood of finding an exact Human Leukocyte Antigen (HLA) match within a family is only 25%, underscoring the need for diverse donor registries.
• Technological Innovations:
  • AI is being explored to analyze UK Biobank data for health discoveries.

Key Players Analysis

• UK Biobank: UK Biobank is a leading organization in the biobanking sector, managing a vast biomedical database containing genetic, lifestyle, and health data from over 500,000 UK volunteers. This resource is widely used by approved researchers worldwide, driving advancements in disease understanding and treatment. With continuous expansion, the dataset benefits from robust funding from governmental and private sectors, enhancing its research infrastructure and capabilities.
• Integrated BioBank of Luxembourg (IBBL): The Integrated BioBank of Luxembourg (IBBL) plays a crucial role in biobanking by supporting biomedical research with a focus on quality and international compliance. Established in 2008 under the Luxembourg Institute of Health, IBBL offers services including sample collection, processing, analysis, and storage. Its contributions to personalized medicine, scientific excellence, and fostering healthcare innovation make it a vital entity in advancing biobanking standards.
• Shanghai Zhangjiang Biobank: Operated by Shanghai Outdo Biotech Co., Ltd., the Shanghai Zhangjiang Biobank is a prominent player located in Zhangjiang Science City, Shanghai. It boasts an extensive collection with a target capacity of 10 million human-derived samples, including tissues, cells, and blood. Equipped with advanced genomic and proteomic platforms, it emphasizes rapid research-to-product translation, evidenced by the successful launch of FDA-approved products like a liver cancer diagnostic kit. Significant government and private investments underline its global importance in disease research.
• Thermo Fisher Scientific Inc.: Thermo Fisher Scientific Inc. provides a comprehensive portfolio of products and services for the biobanking sector, including advanced equipment for sample collection, preparation, and automation. Its solutions ensure sample security, integrity, and optimized laboratory efficiency. The company’s informatics tools enable seamless data sharing, supporting breakthroughs in life science research and enhancing the overall productivity of biobanking operations.
• ISENET Biobanking: Part of the Air Liquide Healthcare Group, ISENET Biobanking operates within the European biobanking network from its base in Milan. Specializing in cryopreservation and stem cell quality control, the facility adheres to ISO 9001 and NFS 96-900 standards, ensuring specimen integrity and accuracy. Acquired by Air Liquide in 2018, ISENET plays a strategic role in bolstering biobanking capabilities across Europe.
• Brooks Life Sciences (Azenta Life Sciences): Rebranded as Azenta Life Sciences, Brooks Life Sciences is a global leader in sample management solutions. The company operates biorepositories worldwide, providing integrated services to enhance sample storage and exploration. These efforts accelerate personalized medicine development, ensuring the safe and efficient management of biological samples critical to research and clinical applications.
• Hamilton Company: Hamilton Company enhances biobanking with automated solutions like the BiOS and SAM HD systems. These technologies optimize sample storage and processing while maintaining stringent environmental controls to prevent contamination. The systems streamline operations with automation features like barcode scanning, minimizing errors. Designed for scalability, Hamilton’s solutions are essential for high-throughput workflows in modern biobanking facilities.
• ASKION: ASKION contributes significantly to biobanking with its ASKION C-line® system, a next-generation cryogenic storage solution. Designed for flexibility and scalability, it supports small to large collections with millions of samples. Its controlled freezing and nitrogen gas phase storage ensure quality and traceability. Modular configurations allow for seamless expansion, making it an efficient choice for biobanks aiming to scale operations without disruptions.

Emerging Trends in Biobanking

• Precision Medicine and Genomics: The rise of precision medicine is driving the biobanking industry by providing essential resources for personalized treatments. Biobanks store biological samples like tissues and blood products, enabling research on individual genetic backgrounds. This trend aligns with advancements in genomics and proteomics, which require high-quality biospecimens to study rare and complex diseases.
• Technological Advancements in Equipment: Advanced equipment, particularly in temperature control systems such as freezers and refrigerators, is shaping the biobanking market. These systems are vital for maintaining the viability of stored biosamples, ensuring their long-term usability. This trend is expected to grow further with the increasing reliance on biobanks for biological storage.
• Expansion in Asia Pacific: Asia Pacific is emerging as a growth hub for biobanking due to an aging population prone to chronic diseases, improved healthcare infrastructure, and rising demand for biospecimens. Significant investments are being made in biobanking facilities across the region to support both local and global research initiatives.

Key Use Cases of Biobanking

• Blood Disorder Research: Biobanks are essential for studying blood disorders, storing critical samples like blood products and tissues. For example, with anemia affecting 1.62 billion people globally, the demand for high-quality blood samples has never been greater. Biobanks support vital research aimed at understanding and treating such conditions.
• Regenerative Medicine: In regenerative medicine, biobanks store cell lines and human tissues used in therapies to restore or repair damaged tissues and organs. This application is expanding rapidly as researchers rely on biobanks to advance tissue engineering and innovative treatments.
• Life Sciences Research: Biobanks are fundamental to life sciences research, supporting studies ranging from basic biology to complex drug development. By providing diverse biological samples and associated data, biobanks enable researchers to explore genetic, environmental, and phenotypic factors, accelerating medical discoveries and therapeutic advancements.

Conclusion

The biobanking market is poised for significant growth, driven by increasing demand for biospecimens in medical research, particularly for drug discovery, clinical diagnostics, and personalized medicine. Europe remains the market leader, followed by North America, while the Asia-Pacific region is emerging as the fastest-growing segment.

Key advancements, such as the introduction of energy-efficient biobanking equipment and strategic collaborations, are shaping the sector. Despite challenges like high setup costs and complex specimen acquisition, the market’s outlook remains positive. With ongoing investments in healthcare research and innovations in precision medicine, biobanks are set to play a pivotal role in advancing global health initiatives.

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