The global Biobanks market size is expected to be worth around US$ 107.9 billion by 2030, according to a new report by Vision Research Reports.
The global Biobanks market size was valued at US$ 66.9 billion in 2020 and is anticipated to grow at a CAGR of 6.10% during forecast period 2021 to 2030.
Biobanks continue to evolve with the introduction of new technologies such as NGS and increased focus on genomic medicine. The availability of several types of biospecimens to cater to multiple domains including drug discovery, diagnostics, and others has accelerated the diversification of biorepositories, thereby driving the market.
The quality of biospecimens can significantly influence the disease testing as well as preclinical and clinical research. Regulatory agencies have played a vital role in spurring the adoption of biobanking services by establishing guidelines for the effective management of samples. For instance, the U.S. Centers for Disease Control and Prevention (CDC) released guidelines to minimize human hazards while handling COVID-19 samples.
The biobanking equipment segment dominated the market for biobanks and accounted for the largest revenue share of 78.0% in 2020, owing to a rapid increase in the number of new biobanks and the high cost of initial equipment installation. A wide range of equipment is offered to cater to different biobanking processes such as sample preparation, collection, processing, storage, and shipment. The equipment includes cell separators, freezers, thawing equipment, barcode readers, and alarm and monitoring systems.
The Laboratory Information Management Systems (LIMS) segment is anticipated to emerge as a lucrative source of revenue during the forecast period. This is because LIMS plays an important role in COVID-19 biobanking, testing, and research. In April 2020, LabVantage Solutions, Inc. developed a new COVID-19 LIMS solution. Besides, CloudLIMS is offering its cloud LIMS free of charge to biobanks, research facilities, and laboratories undertaking COVID-19 research or testing across the globe.
The biobanking and repository services segment dominated the market for biobanks and accounted for the largest revenue share of 36.0% in 2020. This is owing to the higher market penetration of these services and the increased need for the preservation of biosamples for developing precision medicine and disease-specific research. Expansion of biobanking services from academic research to include clinical enterprises and government initiatives, as well as highly networked and open-ended ventures, has fomented the segment.
The lab processing segment is expected to witness growth in the near future due to the increasing demand for clinical trials and research-related workflows around COVID-19. Many research institutes and companies are engaged in the development of vaccines and research studies for the novel coronavirus. This is expected to increase the demand for lab processing services, such as DNA extraction, plasma/serum isolation, sample retrieval, and sample plating.
The human tissues segment dominated the market for biobanks and accounted for the largest revenue share of 38.0% in 2020. This is owing to a large number of biobanks with facilities to store tissues, easy availability of tissue samples, and availability of advanced technology for storage and retrieval of banked tissues. Growing investment in disease-specific R&D is anticipated to foster the demand for diseased tissue samples such as lymphoma, myeloma, ovarian leukemia, brain, prostate, colorectal carcinoma breast, and lung tissues for oncology studies.
In the effort to advance the research on COVID-19 and improve its diagnosis and treatment, the human tissue segment is expected to witness high demand in the near future. Technological advancements such as the use of for tissue sample/3D-printed mini-organs creation in COVID-19 testing are expected to boost the segment growth.
The number of established stem cell biobanks has been increasing rapidly worldwide. Promising applications of stem cells in regenerative medicine, cell therapy, developmental biology, toxicology, and drug development can be attributed to the rapid increase in the number of stem cell banks, resulting in the lucrative revenue growth of this segment.
The physical/real biobanks segment dominated the market for biobanks and accounted for the largest revenue share of 82.0% in 2020. These biobanks have a well-established network, thereby hold a high revenue share. Rapid progress in the fields of analysis and precision medicine can be attributed to this change in the operating strategy of the biobanks. A large collection of tissue samples from pathological labs, clinical trials, and research projects over the years contributes to the largest share of tissue banks in 2020.
However, in recent years, virtual biobanks have emerged to address problems related to the accessibility of biospecimens. Tissue Solutions (Scotland) and Human Focused Testing (Little port) are examples of organizations whose core operating activity involves procurement and distribution of samples as per requirement. The potential to fulfill the need for biospecimens and the ability to trace and obtain rare samples improves with virtual biobanking. Also, easy accessibility associated with virtual biobanks contributes to the lucrative growth of the segment.
the drug discovery and clinical research application segment dominated the biobanks market with a revenue share of 38.0%. This can be attributed to the ever-increasing demand for bio-sample for new drug testing in clinical studies. Furthermore, the exponential increase in the number of COVID-19 cases across the globe has resulted in an increasing need for vaccine development. Various studies are being conducted to accelerate research in this field.
Mayo Clinic has initiated an observational study for prospectively collecting research biospecimens and clinical data from COVID-19 patients, to enable high-quality research, thereby driving the segment growth. On the other hand, the clinical diagnostics segment is anticipated to witness the fastest growth throughout the forecast period. Comparison of biospecimens obtained from healthy and diseased individuals advances the clinical diagnosis process, especially for cancer. It helps investigate the treatment response of the patient and identify a new tumor in a patient with a history of cancer.
North America accounted for the maximum revenue share of 34% in the 2020 global market owing to the continuous investment in the collection, establishment, and processing of large-scale datasets. For instance, in March 2019, the UK Biobank generated exome sequence data from 50,000 people with an objective to advance disease management including prevention, diagnosis, and treatment. That project aims to collect data of about 500,000 people and follow their health.
Thermo Fisher Scientific, Inc.
Tecan Trading AG.
Becton, Dickinson and Company (BD)
Charles River Laboratories
STEMCELL Technologies Inc.
Precision Cellular Storage Ltd. (Virgin Health Bank)
Temperature Control Systems
Freezers & Refrigerators
Cryogenic Storage Systems
Incubators & Centrifuges
Alarms & Monitoring Systems
Accessories & Other Equipment
Laboratory Information Management Systems
Biobanking & Repository
Cold Chain Logistics
Biospecimen Type Outlook
Adult Stem Cells
Embryonic Stem Cells
Other Stem Cells
Biobank Type Outlook
Population Based Biobanks
Disease Based Biobanks
Drug Discovery & Clinical Research
Middle East & Africa
The Biobanks 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 Biobanks market for the base year 2020 and the forecast between 2021 and 2030. 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 Biobanks market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Biobanks market development in United States, Europe and China.
It is pertinent to consider that in a volatile global economy, we haven’t just conducted Biobanks 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 Biobanks 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 Biobanks 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 Biobanks market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2030. 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 Biobanks market companies.
Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Biobanks 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 Biobanks 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.
The Biobanks 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 Biobanks 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 Biobanks 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 Biobanks market. These factors have benefited the growth of the global market for Biobanks. 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 Biobanks. 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 Biobanks are as follows:
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
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 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.
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:
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