Biobanking Market Research Report by Product [Equipment (Storage, Sample Analysis, Processing, Transport)

Biobanking Market Overview

“The Biobanking Market Predictable at $56.67 Billion in 2022, is estimated to increase at a CAGR of 9.34% from $62.56 billion in 2023 to $85.67 Billion by 2030.”

What exactly is biobanking and why is it important?

Biobanking is a process that collects samples of bodily fluid or tissue to understand health and disease. Additional details like height, weight, and factors affecting health, such as family history and lifestyle, may be recorded alongside the samples. Samples are often stored indefinitely or for years to enable future research. Researchers can monitor participants' health by examining their medical data, provided they have given consent.

The Nuffield Council on Bioethics has published a paper on human body donation for medicine and research, while the Human Tissue Authority provides information on donation. Healthy volunteers are used in initiatives like the UK Biobank to study why certain diseases or problems occur in certain individuals.

The use of biomaterials like bioimages and clinical data allows for large-scale analysis of specific disease biomarkers, enhancing personalized medical methods and aiding in the accurate diagnosis and prognosis of diseases, as biomarker identification is crucial for disease diagnosis.

The biobanking market is growing due to the development of applications for biobanked samples and increased funding from private and public organizations. Accurate identification of biomarkers is crucial for disease diagnosis and prognosis. The rise in the prevalence of diseases like cancer, which use biobanked specimens for treatment, is also driving the market's expansion. The demand for genomic research is also driving the growth of the market. Government funding for regenerative medicine research is expected to accelerate industry growth. Overall, biobanked samples are essential for personalized medical diagnosis and prognosis.

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Market Dynamics

Growth Drivers

• Technological developments in drug development, personalised medicine, and genomics
• Demand for personalised medicine is rising.
• Increased funding for genomic research
• combining bioinformatics technologies with cutting-edge data analysis methods
• increased demand for affordable drug research and discovery
• Growing financial support and investments for biobanks

Restraining Factors

The high cost of automated equipment, such as sample handling systems, could hinder market growth for smaller biobanking companies or those with limited funding. The cost of these systems can vary depending on their size and complexity, and can range from $10,000 to hundreds of thousands of dollars, making it difficult for them to enter the market.

The initial investment includes maintenance and operational expenses like software upgrades, repairs, and training, which may be high for some businesses. The market's expansion may be hindered by issues with obtaining biospecimen samples.

Challenges

• The high price of automated systems
• issues with obtaining biospecimen samples
• Privacy of data and ethical issues
• Establishing and maintaining biobanks is quite expensive.
• Incompatibility between various biobank data platforms is not present.

Biobanking Market Segment Analysis

Based on product

The biobanking market is categorized into equipment, consumables, services, and software. The equipment category accounted for 51.56% of revenue in 2022 and is expected to grow at a CAGR of 9.34%. This growth is attributed to the rise in new biobanks. The biobanking equipment market includes specialized goods for processing, analysis, storage, and transportation of biological samples, including human tissues, cells, blood, DNA, and other specimens. The segment offers a range of technologies and solutions to meet the needs of biobanks, research institutions, and healthcare facilities.

Based on Sample Type  

The biobanking market is categorized into blood products, human tissues, cell lines, nucleic acids, biological fluids, and human waste products. The category of blood products is expected to grow at a CAGR of 8.56% due to the proliferation of biobanks with tissue storage capabilities, accessibility of tissue samples, and advanced technology. Increased demand for diseased tissue samples, such as brain, ovarian, lymphoma, and myeloma, is expected to lead to increased use of biobanks.

Based on Application

The biobanking market is divided into three segments: regenerative medicine, life-science research, and clinical research. The distribution of samples to academic institutions has increased, fostering collaborative research programs and providing researchers with high-quality samples. The demand for well-preserved and annotated biological specimens has also increased due to pharmaceutical research and development efforts, particularly for clinical purposes, leading to a rise in biobank usage for such specimens.

Based on End-User Segments

The biobanking market is dominated by contract research organisations (CROs), academic institutes, hospitals, and biotechnology and pharmaceutical corporations. The market share of these companies is expected to increase at a CAGR of 9.34%, driven by the growing demand for genetic and genomic research. CROs offer specialized knowledge, tools, and infrastructure for managing large amounts of genetic data. The growing focus on precision medicine and advancements in academic biobanks contribute to the growth of this segment.

Competitive Landscape of the Biobanking Market

• Tecan Group Ltd.
• Becton Dickinson and Company
• Qiagen N.V.
• TTP Labtech Ltd.
• VWR Corporation
• Promega
• Brooks Automation
• Thermo Fisher Scientific Inc.
• Worthington Industries
• Chart Industries
• Hamilton Company
• Merck KGaA

Recent Developments in Biobanking Market

July 20, 2023 Tecan’s Phase Separator™: advancing automation for liquid biopsy and biobanking

July 20, 2023 – Tecan proudly unveils Phase Separator™, an innovative liquid separation technology that promises to save time and improve accuracy in laboratory workflows. With specific applications in liquid biopsy and biobanking, its benefits will be felt in genomics, proteomics and across multiple disease areas, from oncology and neurodegenerative disease to metabolic disorders.

Phase Separator is a unique new pipetting capability of the new Air Flexible Channel Arm™ (Air FCA) on Tecan’s flagship liquid handling platform, the Fluent® Automation Workstation. It addresses the critical challenge of detecting liquid–liquid interfaces and effectively separating neighboring phases, while avoiding the risk of contamination makeing it ideal for separating plasma in centrifuged blood samples.

 In May 2023, Upkara, a biomedical technology start-up founded in 2022, announced that it had raised US$ 9 million in Series A funding. The company was expected to use the raised funding to commercialize its biopreservation technology and bring it to the market.

In February 2023, PHC Corporation of North America launched the PHCbi Brand VIP ECO smart ultra-low temperature freezer with industry-leading energy efficiency. This technology will increase the shelf life for the sample and will ultimately lead to lesser number of sample spoilage.

 In September 2022, Cryoport partnered with BioLife Plasma Services to offer supply chain solutions and service offerings, such as bio-services and cryo-processing, for BioLife Plasma Services. This strategy helped these companies to provide the best quality cellular starting materials for use within a multitude of life-saving cellular therapies.

Krishagni Solutions Pvt. Ltd., a company based in India providing a biobanking informatics platform is making waves around the world through its OpenSpecimen Sample Inventory Management System. In 2021, the University of Oxford’s Medical Division announced that they had purchased the aforementioned software to support research involving the storage and processing of human tissues.

Can emerging biobanking companies succeed in the global market?

"Biobanking Start-ups Focusing on the Development of Innovative Solutions to Penetrate Market"

Focusing on creating solutions that can optimise biobanking operations to increase the process' productivity and efficiency, new businesses looking to break into the biobanking market. These new biobanking service providers are likewise concentrating on securing fresh funding to support their R&D initiatives and future commercial growth objectives.

Where Will Demand for Biobanking Be High?

Therapeutics are expected to dominate global revenue generation due to the shift from chemicals to biospecimens in healthcare for treating chronic and rare ailments. This has led to an increase in demand for human cells, tissues, and blood products for precise and regenerative treatments. Rising investments in drug discovery and development will also boost demand for therapeutic uses of biobanking. The use of biospecimens for clinical diagnostics is expected to rise as healthcare professionals adopt preventive strategies. Research centers are helping clinics analyze cell structures to identify chronic illnesses' underlying causes, increasing revenue from biospecimen clinical diagnosis.

Regional Insights

Largest Market -> North America

Why Is the US a Key Market for Biobanking Companies?

The biobanking sector is experiencing growth due to technological advancements in drug discovery and increased funding for personalized and regenerative medicine in the US. The market is expanding due to the rise in cancer, cardiovascular, and infectious disorders. Demand for biobanking products is also driven by the volume of clinical studies and the increasing use of stem cell therapies. Government financing for medical research is also increasing, benefiting American companies offering biobanking services. The preservation and storage of biological samples like blood, tissues, and nucleic acids is increasingly crucial for biomedical research and disease-relevant biomarkers.

How Appropriate is the European Market for Providers of Biobanking?

The rapid use of modern biotechnology in European countries has made the biobanking industry profitable, with government programs encouraging the collection of vital patient data. This has created new economic prospects for biobank firms, advancing medical research, and lowering mortality rates for chronic diseases. In May 2023, Genomics England and the Medicines and Healthcare Products Regulatory Agency announced plans to establish a Yellow Card biobank to connect drug side effects to patients' genetic makeup, integrating with the MHRA's Yellow Card website.

Segments Covered in the Biobanking Market Report

By Product & Service

• Equipment
• Storage equipment
• Sample analysis equipment
• Sample processing equipment      
• Sample transport equipment
• Consumable
  • Storage consumables
  • Analysis consumables
  • Processing consumables
  • Collection consumables
• Service
  • Storage services
  • Processing services
  • Transport services
  • Supply services
• Software

By Sample Type

• Blood products
• Human tissues        
• Cell lines
• Nucleic acids 
• Biological fluids
• Human waste products

By Application

• Regenerative medicine
• Life-science research
• Clinical research

Storage Type

• Automated storage
• Manual storage

By End-User

• Biotechnology & Pharmaceutical Companies
• Contract research organizations (CROs)
• Academic & Research Institutes
• Hospitals

Frequently Asked Questions

What is the expected growth rate of the Biobanking market over the next 7 years?

“The Biobanking Market Predictable at $56.67 Billion in 2022, is estimated to increase at a CAGR of 9.34% from $62.56 billion in 2023 to $85.67 Billion by 2030.”

Who are the major players in the Biobanking market and what is their market share?

Tecan Group Ltd., Becton Dickinson and Company, Qiagen N.V., TTP Labtech Ltd., VWR Corporation, Promega, Brooks Automation, Thermo Fisher Scientific Inc., Worthington Industries, Chart Industries, Hamilton Company, Merck KGaA, are the top players in the market.

Which region accounted for the largest share in the market?

North America is the most prominent country in this market.

1.SUMMARY

1.1. Biobanking Market Overview

1.2. Key Insights

1.3. Report Scope

1.4. Research Methodology

1.5. Frequently Asked Questions

1.6. Chapter Outlines

2. DECISION-MAKING SUMMARY
3. INTRODUCTION

3.1. Overview of Biobanking

3.2. Key Historical Events

3.3. Structure

3.4. Biochemical Interaction

3.5. Target Indications

3.6. Advantages of Biobanking

3.7 Challenges associated with Biobanking

3.8. Future Perspectives.

4. MARKET LANDSCAPE

4.1. Methodology

4.2 Biobanking: Developer Landscape

4.2.1. Analysis by Year of Establishment

4.2.2. Analysis by Company Size

4.2.3. Analysis by Location of Headquarters (Region-wise)

4.2.4. Analysis by Location of Headquarters (Country-wise)

4.2.5. Analysis by Year of Establishment, Company Size and Location of Headquarters (Region-wise)

4.2.6. Most Active Players

5. COMPANY

5.1. Company Overview

5.1.2 Management Team

5.1.3. Product Portfolio

5.1.4. Recent Developments and Future Outlook

6. PARTNERSHIPS AND COLLABORATIONS

6.1. Partnership Models

6.2. Biobanking: Partnerships and Collaborations

6.2.1. Analysis by Year of Partnership

6.2.2. Analysis by Type of Partnership

6.2.3. Analysis by Year and Type of Partnership

6.2.4. Analysis by Type of Partner

6.2.5. Analysis by Year of Partnership and Type of Partner

6.2.6. Analysis by Type of Partnership and Type of Partner

6.2.7. Analysis by Type of Partner and Parent Company Size

7. ACADEMIC GRANTS ANALYSIS

7.1. Methodology and Key Parameters

7.2. Biobanking: Academic Grants Analysis

7.2.1. Analysis by Year of Grant Award

7.2.2. Analysis by Amount Awarded

7.2.3. Analysis by Funding Institute Center

7.2.4. Analysis by Support Period

7.2.5. Analysis by Funding Institute Center and Support Period

7.2.6. Analysis by Type of Grant Application

7.2.7. Analysis by Purpose of Grant

8. PUBLICATION ANALYSIS

8.1. Analysis Methodology and Key Parameters

8.2. Biobanking: Publication Analysis

8.2.1. Analysis by Year of Publication

8.2.2. Analysis by Type of Publication

8.2.3. Analysis by Type of Conjugate

8.2.4. Analysis by Target Indication

8.2.5. Analysis by Copyright Holder

8.2.6. Word Cloud: Emerging Focus Area

8.2.7. Most Active Publishers: Analysis by Number of Publications

9. SUCCESS PROTOCOL ANALYSIS

9.1. Methodology and Key Parameters

9.2. Key Assumptions and Scoring Criteria

9.3. Success Protocol Analysis

9.4. Assessment of Approved Biobanking

10. Appendix 1: Tabulated Data
11. Appendix 2: List of Companies

1. Tecan Group Ltd.
2. Becton Dickinson and Company
3. Qiagen N.V.
4. TTP Labtech Ltd.
5. VWR Corporation
6. Promega
7. Brooks Automation
8. Thermo Fisher Scientific Inc.
9. Worthington Industries
10. Chart Industries
11. Hamilton Company
12. Merck KGaA

Segments Covered in the Biobanking Market Report

By Product & Service

• Equipment
• Storage equipment
• Sample analysis equipment
• Sample processing equipment      
• Sample transport equipment
• Consumable
  • Storage consumables
  • Analysis consumables
  • Processing consumables
  • Collection consumables
• Service
  • Storage services
  • Processing services
  • Transport services
  • Supply services
• Software

By Sample Type

• Blood products
• Human tissues        
• Cell lines
• Nucleic acids 
• Biological fluids
• Human waste products

By Application

• Regenerative medicine
• Life-science research
• Clinical research

Storage Type

• Automated storage
• Manual storage

By End-User

• Biotechnology & Pharmaceutical Companies
• Contract research organizations (CROs)
• Academic & Research Institutes
• Hospitals

Research Methodology