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The global Biobanking Market was valued at USD 76.68 billion in 2023 and is projected to reach USD 151.11 billion by 2031, growing at a compound annual growth rate (CAGR) of 8.85% over the forecast period from 2024 to 2031. The growing demand for personalized medicine, along with advancements in genomic research and increasing investment in biobanking infrastructure, is expected to drive significant growth in the biobanking market.
Market OverviewBiobanks are repositories that collect, store, and manage biological samples, including blood, tissues, and other bodily fluids, for research purposes. They play a crucial role in advancing medical research, enabling studies on genetic disorders, cancer, and infectious diseases. With the increasing emphasis on personalized medicine and the need for large-scale genomic data, the demand for biobanking services is expected to rise significantly.
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Key Market DriversRising Demand for Personalized Medicine: The shift toward personalized medicine, which tailors treatments based on individual genetic profiles, is driving the need for biobanking. Biobanks provide essential resources for researchers to identify biomarkers and develop targeted therapies, enhancing patient outcomes.
Advancements in Genomic Research: Continuous advancements in genomic technologies, including next-generation sequencing (NGS) and CRISPR, are generating large volumes of biological data. Biobanks are crucial for storing and managing these samples, facilitating research into genetic variations and disease mechanisms.
Increasing Investments in Biobanking Infrastructure: Governments and private organizations are increasingly investing in biobanking infrastructure to support research initiatives and improve healthcare outcomes. This investment is driving the growth of biobanks and enhancing their capabilities.
Growing Public and Private Partnerships: Collaborative efforts between academic institutions, healthcare organizations, and biopharmaceutical companies are fostering the development of biobanks. These partnerships are facilitating access to diverse biological samples and promoting research and innovation in the field.
KEY MARKET SEGMENTS:
By Product
By Service
Biobanking & Repository
Lab processing
Qualification/ Validation
Cold Chain Logistics
Other Services
By Biospecimen Type
Human Tissues
Human Organs
Stem Cells
Adult Stem Cells
Embryonic Stem Cells
IPS Cells
Other Stem Cells
Other Biospecimens
By Biobanks Type
Physical/Real Biobanks
Tissue Biobanks
Population Based Biobanks
Genetic (DNA/RNA)
Disease Based Biobanks
Virtual Biobanks
By Application
Therapeutics
Drug Discovery & Clinical Research
Clinical Diagnostics
Other Applications
By Ownership
University Owned
National/Regional Agencies Owned
Non-profit Organizations Owned
Private Organization Owned
By End-use
Pharmaceutical & Biotechnology Companies
CROs & CMOs
Academic & Research Institutes
Hospitals
The major key players are Avantor, BioCision, Becton, Dickinson and Company (BD), Danaher Corporation, Hamilton Company, Merck KGaA, QIAGEN, Thermo Fisher Scientific, Inc., Tecan Trading AG., Taylor-Wharton and other key players.
ConclusionThe biobanking market is expected to experience significant growth over the forecast period, driven by increasing demand for personalized medicine, advancements in genomic research, and rising investments in biobanking infrastructure. As the need for biological samples for research continues to grow, the market presents substantial opportunities for key playERS
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TABLE OF CONTENTS
1. Introduction
2. Industry Flowchart
3. Research Methodolog
4. Market Dynamics
5. Impact Analysis
6. Value Chain Analysis
7. Porter’s 5 Forces Model
8. Pest Analysis
9. Biobanking Market Segmentation, By Product
10. Biobanking Market Segmentation, By Service
11. Biobanking Market Segmentation, By Biospecimen Type
12. Biobanking Market Segmentation, By Biobanks Type
13. Biobanking Market Segmentation, By Application
14. Biobanking Market Segmentation, By Ownership
15. Biobanking Market Segmentation, By End-use
16. Regional Analysis
17. Company Profiles
18. Competitive Landscape
19. Use Case and Best Practices
20. Conclusion
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