Biobanking Market Size, Share, Growth, Trends, Consumption, Revenue, Company Analysis, Regional Insights and Forecast 2021-2028

Published Date : Nov 2020 | No. of Pages : 200 Pages | Category : Healthcare

The global biobanking market size was valued at US$ 2.3 Bn in 2020 and to surpass around US$ 3.8 billion by 2028 with a CAGR of 7.3% from 2021 to 2028.

Growth of the global biobanking market is attributed to an increase in the demand for biobanks in genomics and biomedical research, and rising focus on precision medicine.

North America dominated the global biobanking market in 2020, and the trend is anticipated to continue during the forecast period. Highly structured healthcare industry, early adoption of novel products, and presence of major players drive the biobanking market in North America.

Asia Pacific is expected to be a highly lucrative market for biobanking, expanding at a higher CAGR than other regions during the forecast period.

Overview and Insights

  • Biobanks are places that store human biological samples for future use. These are also known as bio-resources or bio-repositories.
  • A biobank is an essential tool that aids biomedical research in understanding the complex molecular and cellular mechanisms of various diseases. This, in turn, enables improving interventions for human health.
  • Increase in the demand for biobanks in genomics and biomedical research boosts the growth of the global biobanking market.
  • Different types of samples or biospecimen are stored in a biobank, such as blood products, human tissue, cell lines, and nucleic acid.
  • Different types of instruments, equipment, and software & services are utilized in a biobank.
  • Biobank samples are used in the production of pharmaceutical products, diagnosis of various diseases, drug development, and others.
  • In terms of equipment, temperature control systems are anticipated to be the leading segment, as major manufacturers are focusing on the launch of freezers & refrigerators, cryogenic storage systems, and other equipment for the storage of biobank samples. Increase in the number of biobanks in various countries and demand for advanced biobanking equipment in biobanks are the major drivers of the equipment segment.
  • Temperature control systems are anticipated to lead the biobanking market, as major manufacturers are focusing on the launch of freezers & refrigerators, cryogenic storage systems, and other equipment for the storage of biobank samples.

Drivers

  • A biobank is an essential tool in biomedical research, which helps understand the complex molecular and cellular mechanisms in the development of various diseases. This also enables to improve interventions for human health.
  • Rise in genomic and proteomics research to study and identify genomic variations for rare diseases is projected to boost demand for biobanks in the next few years, as such, surging the biobanking market over the forecast period.
  • Biobanks help identify new biomarkers and clarify the etiology of complex diseases.
  • Advancements in biobanking are likely to fuel the growth of the biobanking market during the forecast period. The adoption of laboratory information management systems (LIMS) by researchers for the storage and retrieval of samples has increased in the past few years, which also acts as a driver for the growth of the global biobanking market.
  • Rise in the prevalence of life-threatening diseases such as cancer, heart diseases, neurological disorders, and several hematological disorders has increased the demand for blood-derived cell products. Furthermore, increasing number of biobanks in developed regions such as North America and Europe is likely to fuel the growth of the biobanking market.
  • New innovative product launches and advancements in biobanking are the major growth strategies adopted by market players in the biobanking market.
  • Rise in the preference for automated equipment boosts the growth of the automated equipment segment in the global biobanking market.
  • Biobanks are facing increased cost pressure for the storage of samples. As the cost increases, biobanks are looking for flexibility in their automation solutions that could connect with numerous competing instrument platforms, offering more testing that biobanks require in the long term. Through automation, biobanks are likely to cut down on costs in the long term. 

Increasing Demand for Biobanks in Genomics Research and Rise in Focus on Precision Medicine

Biobanks are facilities for the collection and storage of various biospecimen, including DNA, tissues, stem cells, blood & blood products, and associated data used for biomedical research and analysis.

  • Increase in the demand for stored tissue samples for the study of complex diseases among the biomedical community is anticipated to propel the biobanking market in the near future. Rise in genomic and proteomics research to study and identify the genomic variations for rare diseases is likely to boost demand for biobanks in the next few years.
  • The shift toward personalized medicine by pharmaceutical companies, which requires well-maintained biological samples used for individualized treatment, is expected to drive biobanks market in the near future. 

Equipment to Dominate Market

  • Based on product, the global biobanking market has been divided into equipment, consumables, and software & services. The equipment segment dominated the global biobanking market in 2020, and the trend is projected to continue during the forecast period, owing to the increasing use of equipment such as freezers, refrigerators, and thawing equipment in biobanks. The equipment segment has been classified into temperature control systems, incubators & centrifuges, alarms & monitoring systems, and accessories & other equipment. The temperature control systems sub-segment dominated the equipment segment in 2020. 

Blood Products to Witness Promising Growth

  • In terms of biospecimen, the global biobanking market has been classified into blood products, human tissues, cell lines, nucleic acids, and others.
  • The human tissues segment dominated the global biobanking market in 2020. Blood products is anticipated to be the most lucrative segment, due to an increase in the incidence of blood disorders across the globe. According to the World Health Organization, around 1.62 billion people are affected by anemia, globally. 

Therapeutics Accounted for Major Share of Global Biobanking Market

  • Based on application, the global biobanking market has been segmented into therapeutics, clinical diagnostics, drug discovery & development, and others.
  • The therapeutics segment dominated the global biobanking market in terms of revenue in 2020, and the trend is projected to continue during the forecast period. Blood components such as red blood cells, platelets, plasma, and others, human tissues, and nucleic acids are increasingly used in new product development. These products are further used in the diagnosis and treatment of various critical diseases. These factors are anticipated to propel the therapeutics segment.
  • Clinical diagnostics is expected to be the second-most lucrative segment of the global biobanking market during the forecast period. The segment is likely to expand at a significant CAGR from 2021 to 2028, due to an increase in the demand for biobank samples for the diagnosis of various types of diseases. 

Manual Storage Most Used

  • In terms of storage, the global biobanking market has been bifurcated into manual and automated.
  • The manual segment dominated the global biobanking market in 2020. Automated is projected to be the most lucrative segment, due to the increase in the demand for automated equipment, which provides more accuracy and maintains the quality of biobank samples. 

Competitive Landscape

  • Thermo Fisher Scientific, Inc., PHC Holdings Corporation, and Chart Industries, Inc. are the leading players that hold a majority share of the global biobanking market
  • The global biobanking market is fragmented in terms of number of players. Key players in the global market include Thermo Fisher Scientific, Inc., PHC Holdings Corporation, Chart Industries, Inc., Hamilton Company, VWR International, LLC, QIAGEN N.V., Greiner AG, Brooks Automation, Inc., Merck KGaA, and Tecan Trading AG

Market Segmentation 

Biobanking Market by Product

    • Equipment
    • Temperature Control Systems
        • Freezers & Refrigerators
        • Cryogenic Storage Systems
        • Thawing Equipment
      • Incubators & Centrifuges
      • Alarms & Monitoring Systems
      • Accessories & Other Equipment
    • Consumables
      • Cryovials & Cryomolds
      • Tubes
      • Others
    • Software & Services

Biobanking Market by Biospecimen

    • Blood Products
    • Human Tissues
    • Cell Lines
    • Nucleic Acids
    • Others

Biobanking Market by Application

    • Therapeutics
    • Clinical Diagnostics
    • Drug Discovery & Development
    • Others

Biobanking Market by Storage

    • Manual
    • Automated

Biobanking Market by Region

    • North America
      • U.S.
      • Canada
    • Europe
      • Germany
      • U.K.
      • France
      • Italy
      • Spain
      • Sweden
      • Rest of Europe
    • Asia Pacific
      • China
      • India
      • Japan
      • Australia & New Zealand
      • Rest of Asia Pacific
    • Latin America
      • Brazil
      • Mexico
      • Rest of Latin America
    • Middle East & Africa
      • GCC Countries
      • South Africa
      • Rest of Middle East & Africa

Report Scope

The Biobanking market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of Biobanking market for the base year 2020 and the forecast between 2021 and 2028. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global Biobanking market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Biobanking market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Biobanking market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Biobanking capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Biobanking by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Biobanking market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2028. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Biobanking market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Biobanking market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the Biobanking industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

Biobanking market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Biobanking market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Biobanking market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Biobanking market. These factors have benefited the growth of the global market for Biobanking. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Biobanking. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of Biobanking are as follows:

  • History Year: 2017-2020
  • Base Year: 2020
  • Forecast Year 2021 to 2028

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Market Size Estimation

Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).

The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.

Secondary Sources

Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.

Primary Sources

 In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2028);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
  • To strategically profile the key players and comprehensively analyze their growth strategies.

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