Biobanking Market Size, Trends, Growth & Forecast 2032

Biobanking Market Size & Overview:

The Global Biobanking Market Size, valued at USD 76.18 Billion in 2023, is expected to grow to USD 160.75 Billion by 2032, with a CAGR of 8.67% from 2024 to 2032. This report identifies the growing incidence and prevalence of diseases that necessitate biobanking, which has created a growing need for high-quality sample storage and use in different parts of the world. The study analyzes trends in biobank usage, focusing on regional variations in adoption rates as well as the incorporation of biobanking in research and clinical use. In addition, it delves into the fast pace of technological changes in biobanking, including automation, artificial intelligence-based sample management, and enhanced cryopreservation methods for long-term preservation. The report also evaluates the changing regulatory environment, compliance patterns, and how biobanks can facilitate personalized medicine through the integration of data. In addition, it examines the expansion of biobank networking and data-sharing programs, which are increasing collaboration between research organizations and pharmaceutical firms to promote innovation in healthcare.

Biobanking Market Revenue Analysis

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Biobanking Market Dynamics

Drivers

The biobanking market is driven by the increasing demand for high-quality biospecimens in biomedical research, precision medicine, and drug discovery.

With the increase in the number of chronic illnesses like cancer, cardiovascular diseases, and neurological conditions, scientists need high-quality preserved biological samples for disease mechanism exploration and the identification of targeted therapeutics. According to the World Health Organization, cancer incidence will increase by 47% in 2040, further generating demand for biobank material. Another primary impetus for the acceleration of personalized medicine is the fast pace of biobanking development, with biobanks being central to the storage of patient-specific samples for individualized therapies. In addition, the use of automation, artificial intelligence, and blockchain in biobanking increases sample traceability, quality control, and data protection and drives higher uptake. Government grants and private investments are also major contributors, with programs such as the European Biobank Network and the US NIH's All of Us Research Program funding biobanking infrastructure. Moreover, growing partnerships between pharmaceutical firms, academic institutions, and biobanks are speeding up innovation, rendering biospecimen repositories an essential part of contemporary healthcare.

Restraints

The biobanking market faces significant restraints, particularly ethical and legal concerns surrounding sample collection, storage, and usage.

Strict laws like GDPR in Europe and HIPAA in the US mandate stringent compliance for biobanks, which in turn results in operational challenges and added expenses. Another significant challenge is the preservation of sample integrity over extended durations, as biospecimens need cryogenic storage conditions to avoid degradation. The expensive nature of biobanking infrastructure, such as cryopreservation units, liquid nitrogen storage units, and maintenance of facilities, further restricts market growth, especially in low-resource environments. Another significant restraint is the donor consent and public trust issue; most people are reluctant to donate biological samples because of fears about privacy, misuse, and limited transparency regarding the operations of the biobank. Additionally, financial limitations in smaller biobanks impede market expansion because maintaining long-term storage and maintaining high-quality sample management involves making continuous investments. These issues altogether inhibit the global acceptance of biobanking solutions.

Challenges

The biobanking industry presents vast opportunities, particularly with the increasing adoption of digital and virtual biobanks.

Technological improvements in cloud storage and artificial intelligence-powered data analysis are revolutionizing biospecimen management, making sample access easier for researchers around the world. Increased emphasis on regenerative medicine and stem cell treatments is another prime opportunity since biobanks are responsible for the storage of stem cells for future therapeutic use. The increasing number of clinical trials worldwide, which has crossed 400,000 as of 2023 (ClinicalTrials.gov), also increases the need for high-quality biospecimens. Furthermore, emerging nations are becoming value markets with expanding investments in healthcare infrastructure and research partnerships. Collaborations among biotech companies and biobanks to identify new biomarkers and therapeutic targets are also growing, which spurs innovation. Furthermore, rising focus on sustainability and environmentally friendly biobanking solutions, for example, energy-efficient cryopreservation technologies, offers new market opportunities for participants. Improved biobank networking and global partnerships also create new opportunities for sharing data, which speeds up scientific advances.

Opportunities

The biobanking market faces several challenges, particularly in ensuring sample standardization and interoperability across global biobanks.

Differences in sample collection, storage conditions, and data formats make seamless integration and the reproducibility of research findings difficult. The long-term viability of biobanks is also a significant challenge, as it takes ongoing funding and resource allocation to maintain large-scale repositories. Cybersecurity attacks and data breaches threaten the confidentiality and integrity of biobank databases, necessitating strong security measures. Another challenge is the demand for sophisticated cryopreservation methods since maintaining intricate biospecimens like entire organs is still technologically challenging. Additionally, low awareness and education on the value of biobanking in some areas restricts donor recruitment and research progress. Ethical concerns surrounding ownership rights over biological materials and possible commercial use also pose regulatory challenges. To overcome these challenges, there needs to be more investment in technology, standardized procedures, and more public awareness to generate trust and increase biobanking capacity.

Biobanking Market Segmentation Insights

By Product

The biobanking equipment market held the largest share, representing 77.3% of total revenue in 2023. The heavy usage of advanced preservation and storage systems and rising investment in robotics and automation to manage samples accounted for its strong market presence. Contrariwise, the Laboratory Information Management Systems (LIMS) segment is expected to register the highest growth rate due to the increasing requirement for effective management of data, tracking of samples, and implementing AI-driven analytics in biobanks.

By Service

The biobanking and repository services segment accounted for the highest revenue share in 2023 due to rising research activities and biospecimen long-term storage demands driving market growth. Increasing interactions between biobanks and pharma companies also further boosted this segment. At the same time, the qualification/validation services segment is anticipated to experience high growth with an increased focus on ensuring sample quality and adhering to strict regulatory guidelines.

By Biospecimen Type

The human tissues category accounted for the largest market share in 2023 due to its extensive application in research, drug discovery, and regenerative medicine uses. Access to properly preserved tissue samples is significant in disease modeling as well as biomarker discovery. The stem cells category is expected to witness the highest growth, driven by augmented emphasis on regenerative medicine, advancements in cell therapy, and increased investments in stem cell banking.

By Biobanks Type

The physical/real biobanks segment dominated the market in 2023, as they remain the main storage centers for biospecimens, facilitating clinical research and therapeutic innovations. They are responsible for maintaining sample integrity and availability for researchers. Virtual biobanks, though, are projected to expand at the highest rate with the improvement in cloud-based storage, digital data management, and global networking for remote access to biospecimen data.

By Application

The therapeutics segment led the biobanking market in 2023 as growing uses of biospecimens in personalized medicine, gene therapy, and regenerative therapies stimulated demand. Growth in the number of clinical trials on targeted therapies also fueled the leadership of this segment. The clinical diagnostics segment will experience the highest growth rate as biobanks play a critical role in disease diagnosis, biomarker identification, and precision medicine programs.

By Biobanks Ownership

The university-owned biobanks market segment controlled a large market share in 2023 with robust academic research initiatives, government and private organization funding, and rising partnerships with pharma firms for drug discovery and disease research.

By End-use

The pharmaceutical and biotechnology companies segment led the market, as such firms increasingly use biobanks for drug development, precision medicine, and clinical trials to ensure the creation of innovative therapies. Increased investments in biopharmaceutical R&D and increased demand for high-quality biospecimens further consolidated this segment's leadership.

Biobanking Market Regional Analysis

In 2023, Europe led the biobanking market with 39.1% of total revenue share. This is because of well-established networks of biobanks, high government, and private investment, and developed healthcare infrastructure facilitating broad research in personalized medicine, drug discovery, and regenerative medicine. The UK, Germany, and France have been at the forefront in this regard, with massive-scale biobanking efforts and initiatives involving academic organizations and pharmaceutical giants fueling progress. Moreover, stringent regulatory requirements in Europe assure quality biospecimen storage as well as proper data management, further cementing the region's leadership.

Conversely, the Asia Pacific region is expected to experience the highest growth over the forecast period, triggered by growing investments in biotechnology, escalating demand for precision medicine, and developing healthcare research capabilities. China, India, and Japan are all well on their way to building out biobanking infrastructure, spurred by government support, expanding biopharmaceutical sectors, and a growing emphasis on stem cell research and regenerative medicine. The increase in clinical trials and digital biobanking solution adoption in Asia Pacific is also driving its swift growth. Furthermore, the rising incidence of chronic diseases combined with rising healthcare expenditure is anticipated to fuel the demand for quality biospecimen storage and usage in the region.

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Key Players

Thermo Fisher Scientific Inc. – CryoStor, HypoThermosol, LIMS, Cryogenic Storage Systems, Sample Storage Tubes
Merck KGaA – Cryopreservation Media, Biobanking Reagents, Cell Culture Media
Qiagen – QIAsymphony, QIAcube, PAXgene Blood RNA System
Hamilton Company – BiOS Biobank Storage Systems, SAM HD, Verso Q-Series
Tecan Trading AG – Freedom EVO, Fluent Laboratory Automation Solutions
Danaher Corporation – Beckman Coulter Biobanking Solutions, Cytiva Biorepository Services
Becton, Dickinson, and Company (BD) – BD Vacutainer, BD Biosciences Sample Preparation Solutions
Biocision, LLC. – CoolCell, CoolRack, ThawSTAR
Taylor-Wharton – Cryogenic Freezers, LN2 Storage Tanks
Charles River Laboratories – Biobanking & Repository Services, Cell Line Authentication
Lonza – L7 LIMS, Cell Culture Solutions, Biospecimen Processing
Stemcell Technologies – CryoStor, STEMdiff, mTeSR Media
Biovault Family – Stem Cell Storage Solutions, Cryopreservation Services
Promocell GmbH – Human Primary Cells, Cryopreserved Cell Products
Precision Cellular Storage Ltd. (Virgin Health Bank) – Stem Cell Banking, Umbilical Cord Blood Storage

Recent Developments

In Jan 2025, the UK Biobank launched the world's largest protein study, leveraging data from 54,000 participants to advance disease risk identification. Led by Professor Claudia Langenberg at Queen Mary University, the study demonstrated the effectiveness of large-scale proteomics in biomedical research, marking a significant breakthrough in precision healthcare.
In Oct 2024, the National Accreditation Board for Testing and Calibration Laboratories (NABL) introduced a new accreditation program for biobanking, aligning with the ISO 20387:2018 standard. Launched at a recent event in Delhi, this initiative aims to enhance quality and standardization in biobank operations.

**Biobanking Market Report Scope**
Report Attributes	Details
Market Size in 2023	USD 76.18 billion
Market Size by 2032	USD 160.75 billion
CAGR	CAGR of 8.67% From 2024 to 2032
Base Year	2023
Forecast Period	2024-2032
Historical Data	2020-2022
Report Scope & Coverage	Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments	• By Product [Biobanking Equipment (Temperature Control Systems, 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 Biobanks Ownership [University Owned, National/Regional Agencies Owned, Non-profit Organizations Owned, Private Organization Owned] • By End-use [Pharmaceutical & Biotechnology Companies, CROs & CMOs, Academic & Research Institutes, Hospitals]
Regional Analysis/Coverage	North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America)
Company Profiles	Thermo Fisher Scientific Inc., Merck KGaA, Qiagen, Hamilton Company, Tecan Trading AG, Danaher Corporation, Becton, Dickinson, and Company (BD), Biocision, LLC., Taylor-Wharton, Charles River Laboratories, Lonza, Stemcell Technologies, Biovault Family, Promocell GmbH, Precision Cellular Storage Ltd. (Virgin Health Bank).

Frequently Asked Questions

What is the expected growth rate of the Biobanking Market forecast period?

The expected CAGR of the global Biobanking Market during the forecast period is 8.67%.

What is the valuation of the Biobanking Market in 2023?

The Biobanking Market was valued at USD 76.18 in 2023.

What's driving the Biobanking Market?

Growing importance of biobanks in medical research, rising chronic diseases, and the push towards personalized medicine.

Who are the major players in Biobanking?

University-owned, national agencies, and pharmaceutical & biotechnology companies.

Which region is leading the Biobanking Market growth?

Europe is the leading region in the biobanking market.

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Step 1: Secondary Research:

Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.

Secondary Research

Step 2: Primary Research

When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data. This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.

We at SNS Insider have divided Primary Research into 2 parts.

Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.

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Primary Research

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Data Bank Validation

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Key Market Segments:

By Product

Biobanking Equipment
- Temperature Control Systems
- 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 Biobanks Ownership

University Owned
National/Regional Agencies Owned
Non-profit Organizations Owned
Private Organization Owned

By End-use

Pharmaceutical & Biotechnology Companies
CROs & CMOs
Academic & Research Institutes
Hospitals

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Regional Coverage:

North America

US
Canada
Mexico

Europe

Eastern Europe
- Poland
- Romania
- Hungary
- Turkey
- Rest of Eastern Europe
Western Europe
- Germany
- France
- UK
- Italy
- Spain
- Netherlands
- Switzerland
- Austria
- Rest of Western Europe

Asia Pacific

China
India
Japan
South Korea
Vietnam
Singapore
Australia
Rest of Asia Pacific

Middle East & Africa

Middle East
- UAE
- Egypt
- Saudi Arabia
- Qatar
- Rest of Middle East
Africa
- Nigeria
- South Africa
- Rest of Africa

Latin America

Brazil
Argentina
Colombia
Rest of Latin America

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Criss-Cross segment analysis (e.g. Product X Application)
Competitive Product Benchmarking
Geographic Analysis
Additional countries in any of the regions
Customized Data Representation
Detailed analysis and profiling of additional market players

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Biobanking Market Size, Share & Segmentation By Product [Biobanking Equipment, Biobanking Consumables, Laboratory Information Management Systems], By Service, By Biospecimen Type, By Biobanks Type, By Application, By Biobanks Ownership, By End-use, by Regions| Global Forecast 2024-2032

Biobanking Market Size & Overview:

Biobanking Market Dynamics

Biobanking Market Segmentation Insights

Biobanking Market Regional Analysis

Biobanking Market Report Scope

Frequently Asked Questions

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Biobanking Market Size, Share & Segmentation By Product [Biobanking Equipment, Biobanking Consumables, Laboratory Information Management Systems], By Service, By Biospecimen Type, By Biobanks Type, By Application, By Biobanks Ownership, By End-use, by Regions| Global Forecast 2024-2032

Biobanking Market Size & Overview:

Biobanking Market Dynamics

Biobanking Market Segmentation Insights

Biobanking Market Regional Analysis

Biobanking Market Report Scope

Frequently Asked Questions

Table of Contents:

Key Market Segments:

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