Number of pages: 100-120 | Report Format: PDF | Published date: 18 March, 2020
Historical Years – 2018 & 2019 | Base Year – 2020 | Forecasted Years – 2021 to 2031
The global biobanking market was pegged at ~US$ 66.6 billion in 2021 and is expected to witness a CAGR of ~4.4% during the forecast period.
A biobank is a data warehouse of biological samples accountable for combination, rectification, investigation, execution and storage. Biobank can offer a new approach for genetic component of human disease and for developing personalized and automated approach to the healthcare system. It conventionally contains samples of human and non-human origin that include numerous other kinds of samples like bacterial, viral, infected tissues etc. These samples are maintained by profit and non-profit organizations such as pharmaceutical companies, hospitals and universities.
Biospecimens or biological samples can be stored for decades as biorepositories. Over a past few years, the field has shown a remarkable progress. Like DNA databases, biobanks also carefully store the donor’s information and each biospecimens has allocated its own physical location. Biobanks can be classified by their designs or products or can also categorize as disease-centric, genetic or DNA/RNA, project-driven, population-based, commercial and virtual biobanks among others.
Expansion of research studies in the area of cancer genomic, personalized medicine and regenerative medicines, growing trends for conserving cord stem cells of a newborn, development in biobanking market, growing initiatives such as rising public-private funding for research activities and collaborations are the key driving factors for growth of biobanking market globally. COVID-19 outbreak had a major impact on the biobanking industry and put it at the forefront in controlling pandemic and generating growth of organic revenue in the market. Higher equipment and automation cost are required for sorting samples. However, this can be a critical factor hindering the market growth.
The global biobanking market has been analyzed from five perspectives: Products & Services, Sample Type, Application, Storage Type and Region.
Biobanking Market by Products & Services
Based on products & services, the biobanking market has been segmented into equipment, consumable, software and services. Equipment segment is further categorized into sample processing equipment, sample analysis equipment, storage equipment and sample transport equipment. The services segment is classified into sample collection services, sample processing services, sample analysis services, sample storage services and sample transport services. The equipment segment is registered to lead the global biobanking market during the forecast period. Factors such as expansion in number of biobanks globally, number of biospecimens to be stored are growing and technological advancements in the field of biobank, have played a significant role in driving the growth of this market.
Biobanking Market by Sample Type
Based on the sample type, the global biobanking market has been segmented into blood product, cell lines, human tissues, biological fluids, nucleic acids and other’s (human waste product etc.). The blood product segment dominated the global biobanking market and is expected to continue this trend throughout the forecast period. Driving factors of this segment is due to surge in prevalence of hematological disease, increased demand for collecting blood product specimens because they are used as a source of DNA/RNA and serve as a potential search for biomarker in various disease. Additionally, due to the effect of COVID-19 pandemic and growing investment in the disease specific research, blood and blood product segment is projected to gather high demand in the near future.
Biobanking Market by Application
Based on applications, the global biobanking market has been segmented into regenerative medicine, life science and clinical research. Regenerative medicine segment accounts for higher demand during the forecast period. The prime reason for the growth of this segment is due to higher demand for well characterized and qualitative biospecimens in regenerative studies for research and development studies. Furthermore, increasing public and private funding for stem cell research can be a major factor for market growth.
Biobanking Market by Storage Type
Based on the storage type, the global biobanking market has been segmented into manual and automated storage. Manual storage type dominated the segment, but automated storage segment is projected to grow at the higher rate during the forecast period. Globally, the biobanking market is established as either disease oriented or population-based biobanks. For instance, Biobank Graz is a public funded biobank that works on automation technology and distribute samples scientifically and ethically to academic instructions. Biobank Graz is also viewed as central hub for biomedical research. Similarly, biobanks having distribution strategies and significant storage facilities are projected to contribute the development of the global biobanking market.
Biobanking Market by Region
Based on the region, the global biobanking market has been segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). North America dominated the global biobanking market segment fallowed by Europe. Europe held a substantial market share in the global biobanking market owning to continuous funding in collection, establishment, and managing large scale datasets. Factors such as the increasing number of research studies and rising funding for research activities are playing a crucial role in improving the Europe biobanking market. Additionally, biobanks in this region are co-operating with companies or organizations to carry out various projects. For instance, in December 2020, UK Biobank collaborated with a consortium of ten biopharmaceutical companies to study plasma proteome. According to UK Biobank, the Pharma Proteomics Project is expected to be one of the world’s leading studies of blood protein concentrations shown to the date. Objective of the project was to considerably improve the field of proteomics, by permitting better understanding of disease processes and supporting innovative drug development. Ten leading biopharmaceutical companies including Amgen, Bristol Myers Squibb, AstraZeneca, Biogen, GlaxoSmithKline (GSK), Genentech (Roche), The Janssen Pharmaceutical Companies (Johnson & Johnson), Pfizer Inc., Regeneron, and Takeda Pharmaceutical Co. Ltd. are funding and hiring for the study.
Some segments of the global biobanking market are controlled by a few major players, while the others are dispersed among multiple players. Based on the same, prominent players of this market are Thermo Fisher Scientific Inc., BD, PHC Corporation., QIAGEN, VWR International, LLC., Hamilton Company, Tecan Trading AG, Brooks Life Sciences, Greiner Bio-One International GmbH, and Promega Corporation and others.