Biobanking Industry Is Projected To Grow Robustly

Biobanking Industry Data Book Covers Biobanks, Cell Banking Outsourcing, Cord Blood Banking Services, DNA RNA Banking Services Markets.

Biobanks Market Report Highlights

The global biobanks market size was valued at USD 71.4 billion in 2022, and it is expected to reach USD 136.9 billion by 2030, registering a CAGR of 8.6% from 2023 to 2030.

The biobanking equipment segment accounted for the maximum revenue share in 2022 owing to the high cost of instruments coupled with an increase in the number of biorepositories
The biobanking and repository services segment accounted for the largest revenue share in 2022 due to the higher penetration of these services and the increased need for the preservation of biosamples for developing precision medicine and disease-specific research
Human tissues are the most stored sample for clinical research, resulting in the dominance of this sample type in the market
The virtual biobanks segment is anticipated to witness the fastest CAGR during the forecast period owing to the growing demand for 3D biospecimens coupled with the need for rare disease data for biomedical research
The therapeutics application segment accounted for the largest revenue share in 2022 owing to the growing popularity of cell therapies for cancer treatment
Several pharma/biotech companies have established their private banks to support clinical trials and the development of cell therapies, resulting in revenue growth in this segment

Cell Banking Outsourcing Market Report Highlights

The global cell banking outsourcing market size was computed at USD 9,869.5 million in 2021, and it is expected to reach USD 35,593.6 million by 2030, registering a CAGR of 16.39% during the forecast period.

Master cell banking accounted for the largest market share in 2021owing to rise in these facilities across the globe. Moreover, master cell banks are useful for the preparation of working cell banks and thus find applicability in various research and development perspectives for gene therapy thereby resulting to segment growth
Stem cells accounted for the largest share with respect to revenue. Increase in research and development activities associated with the applications of stem cells drives the segment growth
Cord cell banking sub-segment is poised to grow at the fastest CAGR, during the forecast period owing to the rise in the number of cord blood banking services across the globe
By phase, the bank storage segment held a larger share of the global market. Technologically advanced cryopreservation techniques are expected to fuel the growth of this market throughout the forecast period
Bank characterization testing is expected to witness exponential growth opportunities. Bank characterization is an important quality-control procedure for cell-derived products
North America held the largest share of the market, as there are a significantly high number of research and development projects ongoing in the region related to cytological investigation for proteomics, genomics, and drug and vaccine development. Growing need for vaccines and biopharmaceuticals is also anticipated to fuel the growth
Asia Pacific is expected to witness significant growth in demand during the forecast period owing to an increase in the number of supportive government initiatives pertaining to investments in biotechnology sector. Additionally, ongoing RD activities for cancer treatment and fertility preservation facilitate the demand for banking services

Access the Global Biobanking Industry Data Book, 2022 to 2030, compiled with details like market sizing information forecasts, trade data, pricing intelligence, competition benchmarking, macro-environmental analyses, and regulatory technological framework studies

Cord Blood Banking Services Market Report Highlights

The global cord blood banking services market size was valued at USD 35 billion in 2021, and it is expected to reach over USD 82.3 billion by 2025, growing at an estimated CAGR of around 11% CAGR (2022-2030).

Private bank segment accounted for the largest revenue share in 2016. High cost of collection, processing, and storage along with the maximum awareness created by marketing activities practiced by the players resulted in large revenue share of private banks across the globe.
Rising government support and no storage and collection costs are the major factors anticipated to drive the public banking sector during the forecast period from 2017 to 2025 with highest CAGR.
North America dominated the global market and was followed by Europe in 2016. Dominance of North America is owing to government support and high rate of stem cell therapy in the U.S. and Canada.
Moreover, high awareness and insurance coverage of cord blood banking and stem cell therapies is further boosting the growth of the market in North America
Densely populated emerging countries of Asia Pacific are anticipated to show significant growth during the forecast period from 2017 to 2025.
Factors such as increasing investment by global players, government support and rising healthcare expenditure are anticipated to boost the cord blood banking services market in Asia Pacific
Global CBB services sector is highly fragmented with presence of many private and public players. Few global players operate in various geographies through subsidiaries. While local players are operating independently in respective geographies.
Key players of this market include China Cord Blood Corporation, Cord Blood America, Inc., CBR Systems, Inc., Cordlife Group Limited, Cryo-Cell International, Inc., Cryo-Save AG, Lifeforce Cryobanks, National Cord Blood Program, ViaCord, Inc. and Virgin Health Bank

DNA RNA Banking Services Market Report Highlights

The global DNA and RNA banking services market size was valued at USD 6.09 billion in 2020, and it is expected to reach USD 8.83 billion by 2027. It is expected to expand at a CAGR of 5.46% from 2021 to 2027.

By service type, storage services accounted for the largest revenue share in 2020 owing to the presence of numerous key providers in the market space. The advent of automated sample storage systems and automated liquid handlers to manage large sample volume, and reduce the amount of time required to process, store, and distribute samples further drives the segment
Based on specimen type, the blood segment dominated the market in 2020 owing to fast and quick procedures of collecting blood, minimal risk of contamination, and visibility of blood samples
In terms of application, the drug discovery and clinical research segment held the largest share in 2020. Biobanking services are utilized to accelerate the discovery of new therapeutics and offer resources for future investigations to better understand the effects of environmental, genetic, and lifestyle factors on human health, morbidity, and mortality. This factor led to the maximum revenue share of the segment
On the basis of end use, the hospitals and diagnostic centers segment is projected to witness the fastest growth throughout the forecast period owing to the efforts undertaken by government bodies and biobanks to broaden the accessibility for DNA and RNA samples in the hospitals and diagnostic centers for COVID-19 diagnosis
North America accounted for the largest revenue share in 2020. One of the major factors positively accelerating market growth is the initiation of national precision-medicine initiatives, such as the “All of Us” biobank in the U.S.

Order your copy of the Free Sample of “Biobanking Industry Data Book - Biobanks, Cell Banking Outsourcing, Cord Blood Banking Services, DNA RNA Banking Services Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 - 2030” Data Book, published by Grand View Research

Competitive Landscape

Key players operating in the biobanking industry are –

Thermo Fisher Scientific Inc.
Charles River Laboratories
Merck KGaA
Cord Blood America, Inc.
Becton
Dickinson and Company
Cryo-Cell International, Inc
PromoCell GmbH
SGS Life Sciences
Lonza Group AG

Grand View Research’s Biobanking Industry databook is a collection of market sizing forecasts insights, market dynamics trends, opportunity assessment, regulatory technology framework, pricing intelligence, competitive benchmarking analyses, macro-environmental analyses studies. Within the purview of the databook, such information is systematically analyzed and provided in the form of summary presentations and detailed outlook reports on individual areas of research.

Go through the table of content of Biobanking Industry Data Book to get a better understanding of the Coverage Scope of the study

About Grand View Research

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