Abstract
Summary
The global biobanking market is projected to reach USD 5.0 billion by 2028 from USD 2.9 billion in 2023, at a CAGR of 11.4% during the forecast period of 2023 to 2028. The growth of this market is majorly driven by the demand for cord blood stem cell preservation. The increasing trend of preserving cord blood stem cells from newborns has led to a significant increase in the number of cord blood banks and biobanks that specialize in the preservation of cord blood stem cells. These biobanks store cord blood samples for long-term use and provide services, and are a valuable resource for researchers and clinicians studying regenerative medicine.
“The consumables segment accounted for the second-largest share by product during the forecast period”
In 2022, consumables segment accounted for the second-largest share by product in the global biobanking market. Biobanking consumables primarily include reagents and media, nucleic acid extraction kits, surface disinfectants, collection kits, swabs, containers, and syringes. Consumables are indispensable and integral components of biobanking. With the rising demand for the biobanking of cells, tissues, and organs, the requirement for biobanking equipment and consumables has increased significantly. Furthermore, there is a growing demand for storage equipment in the biobanking industry, with an increasing number of samples being stored for research and clinical applications. These trends underscore the importance of reliable and effective storage consumables in maintaining the integrity and accessibility of valuable biological specimens
“Europe: The second largest region in the biobanking market”
Europe is the second-largest market for biobanking after North America. The European biobanking market has witnessed significant growth in recent years, driven by various factors that have propelled its expansion. One notable factor is the increasing focus on personalized medicine and precision healthcare, which has created a burgeoning demand for high-quality biological samples and associated data. Furthermore, the advancements in genomic research and the advent of next-generation sequencing technologies have stimulated the need for vast repositories of biological materials, fueling the growth of biobanking activities across Europe. This upward trajectory in the European biobanking market exemplifies its vital role in facilitating biomedical research, enabling the development of innovative diagnostics, therapies, and treatments for improved patient outcomes
The primary interviews conducted for this report can be categorized as follows:
• By Respondent: Supply Side- 80% and Demand Side 20%
• By Designation: C-level - 45%, D-level - 30%, and Others - 25%
• By Region: North America -20%, Europe -10%, Asia-Pacific -55%, Latin America -10%, Middle East & Africa- 5%
List of Companies Profiled in the Report:
• Thermo Fisher Scientific, Inc. (US)
• PHC Holdings Corporation (Japan)
• Becton, Dickinson and Company (US)
• QIAGEN N.V. (Germany)
• Merck KGaA (Germany)
• Avantor, Inc. (US)
• Cryoport, Inc. (US)
• Tecan Trading AG (Switzerland)
• Azenta, Inc. (US)
• Greiner Holding AG (Austria)
• Hamilton Company (US)
• Micronic (Netherlands)
• AMSBIO (UK)
• Bay Biosciences LLC (US)
• BioKryo (Germany)
• SPT Labtech (UK)
• ASKION GmbH (Germany)
• Cell&Co BioServices (France)
• Ziath Ltd. (UK)
• CTIBiotech (France)
• Cureline (US)
• Firalis Group (France)
• Sopachem (Netherlands)
• ProteoGenex (US)
• US Biolab Corporation, Inc. (US)
Research Coverage:
This report provides a detailed picture of the biobanking market. It aims at estimating the size and future growth potential of the market across different segments such as the product & service, sample type, storage type, ownership, application, end user and region. The report also includes an in-depth competitive analysis of the key market players along with their company profiles recent developments and key market strategies.
Key Benefits of Buying the Report:
The report will help market leaders/new entrants by providing them with the closest approximations of the revenue numbers for the overall market and its subsegments. It will also help stakeholders better understand the competitive landscape and gain more insights to better position their business and make suitable go-to-market strategies. This report will enable stakeholders to understand the market's pulse and provide them with information on the key market drivers, restraints, opportunities, and challenges
The report provides insights on the following pointers:
• Analysis of key drivers (growing investments and funding for biobanks, focus on genetic testing and precision medicine, increasing trend in preservation of cord blood stem cells from newborns, favorable funding scenario for research related to regenerative medicine), restraints (High cost of automated equipment, issues related to biospecimen sample management), opportunities (emerging countries to provide lucrative opportunities), and challenges (high operational cost of biobanks, storage of samples) influencing the growth of the market.
• Product and Service Development/Innovation: Detailed insights on newly launched products & services, and technological assessment of the biobanking market
• Market Development: Comprehensive information about lucrative markets - the report analyses the market across varied regions.
• Market Diversification: Exhaustive information about new products and services, untapped geographies, recent developments, and investments in the biobanking market
• Competitive Assessment: In-depth assessment of market shares, growth strategies and products and service offerings of leading players like Thermo Fisher Scientific, Inc. (US), PHC Holdings Corporation (Japan), Becton, Dickinson and Company (US), QIAGEN N.V. (Germany), Merck KGaA (Germany), Avantor, Inc. (US), Cryoport, Inc. (US), Tecan Trading AG (Switzerland), Azenta, Inc. (US), Greiner Holding AG (Austria), Hamilton Company (US), Micronic (Netherlands), AMSBIO (UK), Bay Biosciences LLC (US), BioKryo (Germany), SPT Labtech (UK), ASKION GmbH (Germany), Cell&Co BioServices (France), Ziath Ltd. (UK), CTIBiotech (France), Cureline (US), Firalis Group (France), Sopachem (Netherlands), ProteoGenex (US), and US Biolab Corporation, Inc. (US) and among others in the market.
Table of Contents
1 INTRODUCTION 29
1.1 STUDY OBJECTIVES 29
1.2 MARKET DEFINITION 29
1.2.1 INCLUSIONS AND EXCLUSIONS 30
1.3 MARKET SCOPE 31
1.3.1 MARKETS COVERED 31
1.3.2 YEARS CONSIDERED 31
1.4 CURRENCY CONSIDERED 32
1.5 RESEARCH LIMITATIONS 32
1.6 STAKEHOLDERS 32
1.7 SUMMARY OF CHANGES 33
1.7.1 IMPACT OF ECONOMIC RECESSION 34
2 RESEARCH METHODOLOGY 35
2.1 RESEARCH DATA 35
2.1.1 SECONDARY DATA 36
2.1.2 PRIMARY DATA 36
- 2.1.2.1 Breakdown of primaries 37
2.2 MARKET ESTIMATION METHODOLOGY 38
2.2.1 INSIGHTS FROM PRIMARY EXPERTS 39
2.3 MARKET GROWTH RATE PROJECTIONS 41
2.4 MARKET BREAKDOWN AND DATA TRIANGULATION 43
2.5 STUDY ASSUMPTIONS 44
2.6 IMPACT OF RECESSION ON BIOBANKING MARKET 44
2.7 RISK ANALYSIS 45
3 EXECUTIVE SUMMARY 46
4 PREMIUM INSIGHTS 51
4.1 BIOBANKING MARKET OVERVIEW 51
4.2 NORTH AMERICA: BIOBANKING MARKET, BY STORAGE TYPE AND COUNTRY (2022) 52
4.3 BIOBANKING MARKET SHARE, BY APPLICATION, 2023 VS. 2028 52
4.4 BIOBANKING MARKET SHARE, BY END USER (2023) 53
4.5 BIOBANKING MARKET: GEOGRAPHIC GROWTH OPPORTUNITIES 53
5 MARKET OVERVIEW 54
5.1 INTRODUCTION 54
5.2 MARKET DYNAMICS 54
5.2.1 DRIVERS 55
- 5.2.1.1 Growing investments and funding for biobanks 55
- 5.2.1.2 Focus on genetic testing and precision medicine 56
- 5.2.1.3 Increasing trend in preservation of cord blood stem cells from newborns 56
- 5.2.1.4 Favorable funding scenario for research related to regenerative medicine 57
5.2.2 RESTRAINTS 58
- 5.2.2.1 High cost of automated equipment 58
- 5.2.2.2 Issues related to biospecimen sample management 58
5.2.3 OPPORTUNITIES 59
- 5.2.3.1 Emerging economies to provide lucrative opportunities 59
5.2.4 CHALLENGES 59
- 5.2.4.1 High operational cost of biobanks 59
- 5.2.4.2 Storage of samples 59
5.3 RANGES/SCENARIOS 60
5.4 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS 61
5.5 PRICING ANALYSIS 61
5.5.1 AVERAGE SELLING PRICE OF PRODUCTS OFFERED BY KEY PLAYERS 61
5.5.2 AVERAGE SELLING PRICE TREND 61
5.6 VALUE CHAIN ANALYSIS 62
5.7 SUPPLY CHAIN ANALYSIS 63
5.8 ECOSYSTEM ANALYSIS 64
5.9 PATENT ANALYSIS 66
5.10 KEY CONFERENCES AND EVENTS IN 2023 67
5.11 REGULATORY ANALYSIS 68
5.11.1 LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS IN DIFFERENT REGIONS/COUNTRIES 68
5.12 PORTER’S FIVE FORCES ANALYSIS 69
5.12.1 THREAT OF NEW ENTRANTS 69
5.12.2 THREAT OF SUBSTITUTES 69
5.12.3 BARGAINING POWER OF BUYERS 69
5.12.4 BARGAINING POWER OF SUPPLIERS 70
5.12.5 INTENSITY OF COMPETITIVE RIVALRY 70
5.13 KEY STAKEHOLDERS AND BUYING CRITERIA 70
5.13.1 KEY STAKEHOLDERS IN BUYING PROCESS 70
5.13.2 KEY BUYING CRITERIA FOR BIOBANKING PRODUCTS AMONG END USERS 71
6 BIOBANKING MARKET, BY PRODUCT & SERVICE 72
6.1 INTRODUCTION 73
6.2 EQUIPMENT 73
6.2.1 STORAGE EQUIPMENT 76
- 6.2.1.1 Storage solutions for biobanking to ensure integrity and longevity of biological samples 76
6.2.2 SAMPLE ANALYSIS EQUIPMENT 78
- 6.2.2.1 Ensures sample integrity, traceability, and preservation 78
6.2.3 SAMPLE PROCESSING EQUIPMENT 80
- 6.2.3.1 Demand for reliable biobanking equipment to propel adoption 80
6.2.4 SAMPLE TRANSPORT EQUIPMENT 83
- 6.2.4.1 Need for reliable transport equipment to maintain sample integrity and quality to drive market 83
6.3 CONSUMABLES 85
6.3.1 STORAGE CONSUMABLES 87
- 6.3.1.1 Play crucial role in preserving integrity and viability of samples 87
6.3.2 ANALYSIS CONSUMABLES 90
- 6.3.2.1 Increasing demand for sample analysis to fuel adoption 90
6.3.3 PROCESSING CONSUMABLES 92
- 6.3.3.1 Use of sample processing consumables for efficient biobanking to drive growth 92
6.3.4 COLLECTION CONSUMABLES 94
- 6.3.4.1 Demand for efficient sample handling to drive adoption 94
6.4 SERVICES 96
6.4.1 STORAGE SERVICES 99
- 6.4.1.1 Increasing number of biological samples to fuel demand for storage services 99
6.4.2 PROCESSING SERVICES 101
- 6.4.2.1 Critical for preparation of samples for storage and analysis 101
6.4.3 TRANSPORT SERVICES 103
- 6.4.3.1 Help in facilitating biobanking operations 103
6.4.4 SUPPLY SERVICES 106
- 6.4.4.1 Supply services for biobanking to enable research and discovery 106
6.5 SOFTWARE 108
6.5.1 RISING ADOPTION OF BIOBANKING SOFTWARE TO MANAGE BIOLOGICAL SAMPLES TO DRIVE GROWTH 108
7 BIOBANKING MARKET, BY STORAGE TYPE 111
7.1 INTRODUCTION 112
7.2 MANUAL STORAGE 112
7.2.1 POPULARITY OF MANUAL STORAGE OVER AUTOMATED STORAGE TO SUPPORT MARKET GROWTH 112
7.3 AUTOMATED STORAGE 115
7.3.1 EFFICIENT TRACKING OF SAMPLES AND REDUCTION OF MANUAL ERRORS TO DRIVE MARKET 115
8 BIOBANKING MARKET, BY SAMPLE TYPE 118
8.1 INTRODUCTION 119
8.2 BLOOD PRODUCTS 119
8.2.1 USE IN WIDE RANGE OF APPLICATIONS TO PROPEL MARKET 119
8.3 HUMAN TISSUES 122
8.3.1 PIVOTAL ROLE IN FACILITATING SCIENTIFIC DISCOVERIES AND IMPROVING PATIENT CARE TO DRIVE MARKET 122
8.4 CELL LINES 125
8.4.1 SERVE AS VALUABLE RESOURCES IN BIOBANKING 125
8.5 NUCLEIC ACIDS 127
8.5.1 GROWING DEMAND FOR STORAGE AND ANALYSIS OF NUCLEIC ACIDS TO DRIVE MARKET 127
8.6 BIOLOGICAL FLUIDS 130
8.6.1 SERVE AS VALUABLE RESOURCES FOR RESEARCHERS AND CLINICIANS IN STUDYING DISEASES 130
8.7 HUMAN WASTE PRODUCTS 133
8.7.1 USE OF HUMAN WASTE PRODUCT SAMPLES IN MICROBIOME RESEARCH TO DRIVE MARKET 133
9 BIOBANKING MARKET, BY OWNERSHIP 136
9.1 INTRODUCTION 137
9.2 UNIVERSITIES 137
9.2.1 IMPORTANCE OF BIOBANKING IN ADVANCING RESEARCH TO DRIVE MARKET 137
9.3 NATIONAL/REGIONAL AGENCIES 140
9.3.1 SUSTAINED FUNDING AND STANDARDIZED PRACTICES TO SUPPORT MARKET GROWTH 140
9.4 NON-PROFIT ORGANIZATIONS 142
9.4.1 FOCUS OF NON-PROFIT ORGANIZATIONS ON ADVANCING RESEARCH TO DRIVE MARKET 142
9.5 PRIVATE ORGANIZATIONS 145
9.5.1 INCREASING OWNERSHIP OF BIOBANKS BY PRIVATE ORGANIZATIONS TO DRIVE MARKET 145
10 BIOBANKING MARKET, BY APPLICATION 148
10.1 INTRODUCTION 149
10.2 REGENERATIVE MEDICINE 149
10.2.1 INCREASING RESEARCH AND RISING GOVERNMENT FUNDING TO DRIVE MARKET 149
10.3 LIFE SCIENCE RESEARCH 152
10.3.1 INCREASING DEMAND AND UTILIZATION OF BIOBANKS IN LIFE SCIENCE RESEARCH APPLICATIONS TO SUPPORT MARKET GROWTH 152
10.4 CLINICAL RESEARCH 155
10.4.1 GROWING FOCUS ON BIOMARKER DISCOVERY AND ACCELERATED DRUG DEVELOPMENT TO PROPEL MARKET 155
11 BIOBANKING MARKET, BY END USER 158
11.1 INTRODUCTION 159
11.2 PHARMACEUTICAL & BIOTECHNOLOGY COMPANIES AND CROS 159
11.2.1 LARGEST END USER SEGMENT DUE TO GROWING NUMBER OF CLINICAL TRIALS AND RESEARCH STUDIES 159
11.3 ACADEMIC AND RESEARCH INSTITUTES 162
11.3.1 ADVANCEMENTS IN SCIENTIFIC RESEARCH AND INNOVATION TO DRIVE MARKET 162
11.4 HOSPITALS 165
11.4.1 USE BIOBANKING TO COLLECT, STORE, AND MANAGE PATIENT SAMPLES FOR DIAGNOSTIC PURPOSES 165
12 BIOBANKING MARKET, BY REGION 168
12.1 INTRODUCTION 169
12.2 NORTH AMERICA 169
12.2.1 RECESSION IMPACT 170
12.2.2 US 174
- 12.2.2.1 Largest market in North America due to surge in genomic research 174
12.2.3 CANADA 178
- 12.2.3.1 Increasing number of biobanks to support market 178
12.3 EUROPE 182
12.3.1 RECESSION IMPACT 182
12.3.2 GERMANY 186
- 12.3.2.1 Largest market for biobanking in Europe 186
12.3.3 UK 190
- 12.3.3.1 Increasing number of biobanks to support market growth 190
12.3.4 FRANCE 194
- 12.3.4.1 Robust healthcare infrastructure and advanced research capabilities to propel market 194
12.3.5 ITALY 197
- 12.3.5.1 Emergence of private sector players to support market growth 197
12.3.6 SPAIN 201
- 12.3.6.1 Favorable government initiatives to propel market 201
12.3.7 REST OF EUROPE 205
12.4 ASIA PACIFIC 209
12.4.1 RECESSION IMPACT 209
12.4.2 CHINA 214
- 12.4.2.1 Advanced healthcare infrastructure and increasing investments in medical research to propel market 214
12.4.3 JAPAN 217
- 12.4.3.1 Advancements in medical research and increasing need for personalized medicine to drive market 217
12.4.4 INDIA 221
- 12.4.4.1 Demand for high-quality biological samples for medical research and development to drive market 221
12.4.5 REST OF ASIA PACIFIC 225
12.5 LATIN AMERICA 228
12.5.1 RECESSION IMPACT 229
12.5.2 BRAZIL 233
- 12.5.2.1 Advancements in research capabilities to favor market growth 233
12.5.3 REST OF LATIN AMERICA 236
12.6 MIDDLE EAST & AFRICA 240
12.6.1 INCREASING INVESTMENTS IN HEALTHCARE INFRASTRUCTURE TO PROPEL MARKET 240
12.6.2 RECESSION IMPACT 240
13 COMPETITIVE LANDSCAPE 244
13.1 OVERVIEW 244
13.2 STRATEGIES ADOPTED BY KEY PLAYERS 244
13.3 MARKET SHARE ANALYSIS 246
13.4 REVENUE SHARE ANALYSIS 248
13.5 COMPANY EVALUATION QUADRANT 248
13.5.1 STARS 249
13.5.2 EMERGING LEADERS 249
13.5.3 PERVASIVE PLAYERS 249
13.5.4 PARTICIPANTS 249
13.6 COMPANY EVALUATION QUADRANT FOR STARTUPS/SMES 250
13.6.1 PROGRESSIVE COMPANIES 250
13.6.2 STARTING BLOCKS 250
13.6.3 RESPONSIVE COMPANIES 251
13.6.4 DYNAMIC COMPANIES 251
13.6.5 COMPETITIVE BENCHMARKING OF STARTUPS/SME PLAYERS 252
13.7 COMPETITIVE BENCHMARKING OF TOP 25 PLAYERS 253
13.7.1 COMPANY FOOTPRINT ANALYSIS 253
13.7.2 END USER FOOTPRINT ANALYSIS 254
13.7.3 REGIONAL FOOTPRINT ANALYSIS 255
13.8 COMPETITIVE SCENARIO AND TRENDS 256
14 COMPANY PROFILES 258
14.1 KEY PLAYERS 258
14.1.1 THERMO FISHER SCIENTIFIC INC 258
14.1.2 PHC HOLDINGS CORPORATION 267
14.1.3 BECTON, DICKINSON AND COMPANY 272
14.1.4 QIAGEN N.V 277
14.1.5 MERCK KGAA 281
14.1.6 AVANTOR, INC 284
14.1.7 CRYOPORT, INC 290
14.1.8 TECAN TRADING AG 294
14.1.9 AZENTA, INC 298
14.1.10 GREINER AG 302
14.2 OTHER PLAYERS 305
14.2.1 HAMILTON COMPANY 305
14.2.2 MICRONIC 306
14.2.3 AMSBIO 307
14.2.4 BAY BIOSCIENCES LLC 308
14.2.5 BIOKRYO 309
14.2.6 SPT LABTECH 310
14.2.7 ASKION GMBH 311
14.2.8 CELL&CO BIOSERVICES 312
14.2.9 ZIATH LTD 312
14.2.10 CTIBIOTECH 313
14.2.11 CURELINE 314
14.2.12 FIRALIS GROUP 315
14.2.13 SOPACHEM 315
14.2.14 PROTEOGENEX 316
14.2.15 US BIOLAB CORPORATION, INC 316
15 APPENDIX 317
15.1 DISCUSSION GUIDE 317
15.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL 321
15.3 CUSTOMIZATION OPTIONS 323
15.4 RELATED REPORTS 323
15.5 AUTHOR DETAILS 324