Biobanks Market to grow with a CAGR of 8.54% throgh 2029F
The rise in research and development is expected to drive
the demand for the Global Biobanks Market in the forecast period, 2024-2029
According to TechSci Research report, “Biobanks Market– Global Industry Size, Share, Trends, Competition Forecast & Opportunities, 2029”. Global
Biobanks Market was valued at USD 75.34 billion in 2023 and is anticipated to
project robust growth in the forecast period with a CAGR of 8.54% through 2029. The Global Biobanks Market is a dynamic and rapidly evolving sector within the healthcare and life sciences industry. Biobanks serve as repositories storing a wide range of biological samples, including blood, tissues, cells, and DNA, alongside pertinent clinical and molecular data. These samples, collected from diverse populations, are invaluable resources for biomedical research, drug discovery, and personalized medicine initiatives.
One notable aspect of the Global Biobanks Market is its worldwide reach and influence. Biobanks are operational in various countries and regions, each facing its unique challenges, opportunities, and regulatory frameworks. From well-established biobanking infrastructures in North America and Europe to emerging initiatives in Asia-Pacific and Africa, the market encompasses a diverse array of stakeholders and activities.
The Global Biobanks Market plays a pivotal role in advancing precision medicine and personalized healthcare. By granting researchers and clinicians access to high-quality biological samples and associated data, biobanks facilitate the development of targeted therapies tailored to individual patients' genetic makeup, lifestyle factors, and disease characteristics.
Moreover, the market is experiencing a growing emphasis on data management, integration, and sharing. With the rise of omics technologies and the increasing complexity of biomedical research, biobanks are investing in advanced data management systems, interoperability standards, and collaborative platforms. These investments aim to streamline data exchange and analysis across various research projects and institutions, thus furthering the advancement of biomedical science.
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The global Biobanks market is segmented based on by type,
sample type, by application, by end user, company, and regional distribution.
Based
on sample type, the market is segmented into Blood Products, Biological
Fluids, Nucleic Acid, Cell Lines, Others. The nucleic acid segment is
dominating the market. This is ascribed due to its pivotal role of nucleic
acids, particularly DNA and RNA, in biomedical research and clinical
applications. Nucleic acids serve as critical molecular markers for
understanding genetic predispositions to diseases, identifying biomarkers, and
developing targeted therapies. Moreover, advancements in genomics and transcriptomics
have fueled the demand for high-quality nucleic acid samples for genome-wide
association studies, gene expression profiling, and next-generation sequencing.
Additionally, nucleic acid samples are relatively stable and easily stored,
making them ideal candidates for biobanking. The growing emphasis on
personalized medicine and precision healthcare further amplifies the
significance of nucleic acid biobanking, driving its dominance in the Global
Biobanks Market.
Based
on end user, the market is segmented into Academic & Research Institutes,
Pharmaceutical & Biotechnology Companies, Hospitals & Clinics, Others.
The pharmaceutical & biotechnology companies are dominating the
market. This is due to the extensive resources, expertise, and infrastructure
available to pharmaceutical and biotechnology companies for biobanking
activities. These companies frequently invest in establishing and maintaining
large-scale biobanks to support their drug discovery and development efforts.
Additionally, pharmaceutical and biotechnology companies have a strong
incentive to invest in biobanking to gain access to high-quality biological
samples for research purposes. Furthermore, collaborations between
pharmaceutical companies and academic institutions or hospitals enable the
exchange of resources and expertise, further strengthening the role of
pharmaceutical and biotechnology companies in the biobanking landscape.
Overall, the significant investment, expertise, and strategic importance of
biobanking to drug development contribute to the dominance of Pharmaceutical
& Biotechnology Companies in the Global Biobanks Market.
Based
on region, North America's
dominance in the Global Biobanks Market is attributed to several factors unique
to the region. Firstly, the presence of advanced healthcare infrastructure and
significant investments in biomedical research contribute to the establishment of
numerous high-quality biobanks. Secondly, North America is home to a large
number of leading pharmaceutical and biotechnology companies, driving demand
for biological samples for drug discovery and development. Additionally,
supportive regulatory frameworks and strong academic and research institutions
further bolster the region's leadership in biobanking. Furthermore, the
region's highly skilled workforce and culture of innovation enhance its
position in the Global Biobanks Market. The combination of robust
infrastructure, industry expertise, regulatory support, and research
capabilities makes North America a dominant player in the biobanking landscape,
distinguishing it from other regions.
Key market players in the Biobanks market include:
·
Danaher
Corporation
·
Merck KgaA
·
Becton,
Dickinson, and Company
·
Avantor, Inc.
·
Thermo Fisher
Scientific, Inc
·
Tecan Trading
AG
·
QIAGEN N.V.
·
Hamilton
Company
·
ProMedDx, LLC
·
ISENET
Biobanking S.r.l
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“The Global Biobanks Market include increasing demand for high-quality
biological samples for biomedical research, drug development, and personalized
medicine initiatives. Advancements in biobanking technologies, such as
automation and data management systems, enhance efficiency and scalability. The
rising prevalence of chronic diseases and the emphasis on precision medicine
drive demand for well-characterized biospecimens. Additionally, collaborations
between academia, industry, and government foster innovation and knowledge
exchange. Regulatory support and investments in infrastructure further propel
market growth, making biobanks integral to advancing biomedical research and
improving patient care globally” said Mr. Karan Chechi, Research Director with
TechSci Research, a research based Global management consulting firm.
“Biobanks Market – Global Industry Size, Share, Trends,
Competition, Opportunity and Forecast, Segmented By Type (Disease
Oriented Biobanks, Population Based Biobanks, Tissue Biobanks, Others), By
Sample Type (Blood Products, Biological Fluids, Nucleic Acid, Cell Lines,
Others), By Application (Therapeutics, Drug Discovery, Clinical Diagnostics,
Clinical Research), By End User (Academic & Research Institutes,
Pharmaceutical & Biotechnology Companies, Hospitals & Clinics, Others),
By Region 2019-2029F, has evaluated the future growth potential of global
biobanks market size, structure
and future market growth. The report intends to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges, and opportunities in global biobanks market.
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