Biobanking Market Size, Share, Trends and Revenue Report, 2023-2028

IMARC Group, a leading market research company, has recently releases report titled “Biobanking Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global biobanking market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights

How big is the biobanking market?

The global biobanking market size reached US$ 57.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 82.3 Billion by 2028, exhibiting a growth rate (CAGR) of 5.86% during 2023-2028.

What is Biobanking?

Biobanking refers to the method of collecting, processing, storing, and distributing biological specimens and associated data for scientific research purposes. It involves the systematic collection and preservation of biological materials, such as tissues, blood, deoxyribonucleic acid (DNA), ribonucleic acid (RNA), cells, and other biomolecules, or the relevant clinical and demographic information of the individuals from whom the samples are obtained. It can establish repositories of high-quality biological samples that can be used in various areas of biomedical research, including genomics, proteomics, metabolomics, and drug discovery.

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What are the growth prospects and trends in the biobanking industry?

The surging prevalence of different chronic conditions, such as cancer, heart disease, stroke, multiple sclerosis, hypertension, Alzheimer's disease, and amyotrophic lateral sclerosis (ALS), represents one of the primary factors driving the demand for biobanking around the world. Moreover, the increasing preferences for personalized medicines and significant advancements in the genomic field are favoring the growth of the market.

In addition, health agencies of different countries are financing virtual biobank network models to help investigators locate biospecimens and data mining from multiple biobanks. Along with this, significant developments in genomics, disease biology, metagenomics, proteomics, bioenergy, and environmental remediation, are contributing to the market growth.

Besides this, the growing number of clinical trials by various pharmaceutical companies is influencing the market positively.

What is included in market segmentation?

The report has segmented the market into the following categories:

Breakup by Specimen Type:

·        Blood Products

·        Solid Tissue

·        Cell Lines

·        Nucleic Acid

·     Others

 Breakup by Biobank Type:

·        Population-based Biobanks

·     Disease-oriented Biobanks

 Breakup by Application:

·        Therapeutics

·     Research

 Breakup by End User:

·        Academic Institutions

• ·        Pharma and Biotech Companies

Market Breakup by Region:

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa

Who are the key players operating in the industry?

The report covers the major market players including: 

Brooks Automation Inc., Bay Biosciences LLC, Boca Biolistics, Ctibiotech, Cureline Inc., Firalis, Greiner Bio-One International GmbH, Hamilton Company, Merck KGaA, ProteoGenex Inc., Thermo Fisher Scientific Inc., VWR Corporation (Avantor Inc.), etc.

If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

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