Biobanking Market 2022 Industry Growth, Top Key Players, Segmentation and Forecast till 2030

Latest Study on “Biobanking Market Size, Share, Trends, Growth, Production, Consumption, Revenue, Company Analysis and Forecast 2022-2030”.

The global Biobanking market size is expected to be worth around US$ 115.8 billion by 2030, according to a new report by Nova one advisor.

The global Biobanking market size was valued at US$ 69.2 billion in 2021 and is anticipated to grow at a CAGR of 5.11% during forecast period 2022 to 2030.

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Biobanks continue to evolve with the introduction of new technologies, such as NGS, and increased focus on genomic medicine. The availability of several types of biospecimens to cater to multiple domains including drug discovery, diagnostics, and others has accelerated the diversification of biorepositories, thereby driving the market. The quality of biospecimens can significantly influence disease testing as well as preclinical and clinical research. Regulatory agencies have played a vital role in spurring the adoption of biobanking services by establishing guidelines for the effective management of samples.

For instance, the U.S. Centers for Disease Control and Prevention (CDC) released guidelines to minimize human hazards while handling COVID-19 samples. This serves as a model for other biorepositories. Furthermore, as the number of research studies and clinical trials related to COVID-19 is increasing, the demand for high-quality biospecimens is expected to significantly increase in the near future, leading to market growth. In addition, population-based cohort studies are facilitated by biorepositories to estimate the actual seroprevalence. Health Catalyst, Inc., through its Touchstone platform, provides national data related to COVID-19 insights. Such factors are anticipated to contribute to the revenue flow in this space.

The ‘BioResource’ was created in October 2021 by RareCan, a Hexham-based healthcare start-up dedicated to improving studies into the uncommon forms of cancer. BioResource will retain samples taken after surgery from cancer patients and make them accessible to researchers across the globe who can use them to cure, prevent, and identify the disease. In December 2021, Newcastle University introduced a new collection of human blood samples and donated human tissue, which could transform efforts to cure rare cancers. The U.K. Biobank has announced that fresh data from a study measuring the range of circulatory metabolomics biomarkers has been added to its database. Nightingale Health, a Finnish business specializing in blood biomarker technologies, conducted the study with 120000 participants.

North America dominated the market with its wide network of centers for biosample storage in the U.S. Moreover, a high number of COVID-19 cases in the U.S. and increased R&D programs have resulted in the establishment of new biorepositories, thereby driving revenue in North America. In Asia Pacific, the market is anticipated to register the fastest growth owing to the ever-expanding pharmaceuticals and clinical research domain across the Asian countries. The key players are engaged in expanding their global reach by partnering with global distributors, mergers, and acquisitions of other players, and entering a strategic alliance with research communities.

Report Scope of the Biobanks Market

Key Takeaways:

• By products, the U.S. Biobanks market was valued at USD 5.9 Billion in 2021 and expected to witness growth at a CAGR of 5.3% from 2022 to 2030.
• The biobanking equipment segment accounted for the maximum revenue share in 2021 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 2021 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 over 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 2021 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

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 Product Insights

On the basis of products, the global market has been further sub-segmented into biobanking equipment, biobanking consumables, and Laboratory Information Management Systems (LIMS). The biobanking equipment segment dominated the market and accounted for the largest revenue share of 74.2% in 2021owing to a rapid increase in the number of new biobanks and the high cost of initial equipment installation. A wide range of equipment is offered to cater to different biobanking processes, such as sample preparation, collection, processing, storage, and shipment.

The equipment includes cell separators, freezers, thawing equipment, barcode readers, and alarm and monitoring systems.The Laboratory Information Management Systems (LIMS) segment is anticipated to emerge as a lucrative source of revenue during the forecast period. This is because LIMS plays an important role in COVID-19 biobanking, testing and research. In April 2020, LabVantage Solutions, Inc. developed a new COVID-19 LIMS solution. In addition, CloudLIMS is offering its cloud LIMS free of charge to biobanks, research facilities, and laboratories undertaking COVID-19 research or testing across the globe.

Service Insights

On the basis of services, the global market has been further sub-segmented into biobanking & repository, lab processing, qualification/validation, cold chain logistics, and other services. The biobanking and repository services segment dominated the market and accounted for the largest share of more than 37.00% of the global revenue in 2021. This is owing to the higher market penetration of these services and the increased need for the preservation of biosamples for developing precision medicine and disease-specific research. The expansion of biobanking services from academic research to include clinical enterprises and government initiatives, as well as highly-networked and open-ended ventures, has supported the segment.

The lab processing segment is also expected to witness significant growth in the near future and is estimated to account for the second-largest revenue share by 2030. This growth can be attributed to the increasing demand for clinical trials and research-related workflows around COVID-19. Many research institutes and companies are engaged in the development of vaccines and research studies for the novel coronavirus. This, in turn, is expected to increase the demand for lab processing services, such as DNA extraction, plasma/serum isolation, sample retrieval, and sample plating, thereby supporting segment growth.

Biospecimen Type Insights

On the basis of biospecimen types, the global market has been categorized into human tissues, organs, stem cells, and other biospecimens. The human tissues segment dominated the market and accounted for the largest revenue share of 37.6% in 2021. This is owing to a large number of biobanks with facilities to store tissues, easy availability of tissue samples, and availability of advanced technology for storage and retrieval of banked tissues. Growing investment in disease-specific R&D is anticipated to foster the demand for diseased tissue samples, such as lymphoma, myeloma, ovarian leukemia, brain, prostate, colorectal carcinoma breast, and lung tissues for oncology studies.

In the effort to advance the research on COVID-19 and improve its diagnosis and treatment, the human tissue segment is expected to witness high demand in near future. Technological advancements, such as the use of 3D-printing for tissue sample/3D-printed mini-organs creation in COVID-19 testing are expected to boost the segment growth.The number of established stem cell biobanks has been increasing rapidly worldwide. Promising applications of stem cells in regenerative medicine, cell therapy, developmental biology, toxicology, and drug development can be attributed to the rapid increase in the number of stem cell banks, resulting in the lucrative revenue growth of this segment.

Biobanks Type Insights

On the basis of biobank types, the global market has been further bifurcated into physical/real biobanks and virtual biobanks. The physical/real biobanks segment dominated the market in 2021 and accounted for the largest revenue share of 80.5%. These biobanks have a well-established network, thereby holding a high revenue share. Rapid progress in the fields of bioinformatics analysis and precision medicine can be attributed to this change in the operating strategy of the biobanks. A large collection of tissue samples from pathological labs, clinical trials, and research projects over the years contributes to the largest share of tissue banks in 2021.

However, in recent years, virtual biobanks have emerged to address the problems related to the accessibility of biospecimens. Tissue Solutions (Scotland) and Human Focused Testing (Little port) are examples of organizations whose core operating activity involve procurement and distribution of samples as per requirement. The potential to fulfill the need for biospecimens and the ability to trace and obtain rare samples improves with virtual biobanking. Also, easy accessibility associated with virtual biobanks contributes to the lucrative growth of the segment.

Application Insights

On the basis of applications, the market has been further categorized into therapeutics, drug discovery & clinical research, clinical diagnostics, and other applications. In 2021, the drug discovery and clinical research application segment dominated the market with a revenue share of 34.4%. This can be attributed to the ever-increasing demand for bio-sample for new drug testing in clinical studies. Furthermore, the exponential increase in the number of COVID-19 cases across the globe has resulted in an increasing need for vaccine development. Various studies are being conducted to accelerate research in this field.

For instance, Mayo Clinic has initiated an observational study for prospectively collecting research biospecimens and clinical data from COVID-19 patients, to enable high-quality research, thereby driving the segment growth. On the other hand, the clinical diagnostics segment is anticipated to witness the fastest growth over the forecast period. Comparison of biospecimens obtained from healthy and diseased individuals advances the clinical diagnosis process, especially for cancer. It helps investigate the treatment response of the patient and identify a new tumor in a patient with a history of cancer.

Regional Insights

On the basis of geographies, the market has been further segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. Europe accounted for the maximum revenue share of more than 38.00% in 2021 owing to the continuous investment in the collection, establishment, and processing of large-scale datasets. For instance, in March 2019, the U.K.biobank generated exome sequence data from 50,000 people with an objective to advance disease management including prevention, diagnosis, and treatment. That project aims to collect data on about 500,000 people and follow their health.

In March 2020, the Columbia University and New York-Presbyterian Hospital established a COVID-19 biobank for researchers to accelerate their studies. Furthermore, in April 2020, Biogen, Inc., in collaboration with Partners HealthCare and Broad Institute of MIT, announced the association for building a COVID-19 biobank. In April 2020, Québec COVID-19 Biobank began operating in Canada. This biobank was launched by Genome Québec and the Fonds de recherche du Québec. Such developments are expected to drive the revenue flow in this region.

Some of the prominent players in the Biobanks Market include:

• Thermo Fisher Scientific, Inc.
• Merck KGaA
• QIAGEN
• Hamilton Company
• Avantor
• Tecan Trading AG.
• Danaher Corporation
• Becton, Dickinson and Company (BD)
• BioCision
• Taylor-Wharton
• Charles River Laboratories
• Lonza
• STEMCELL Technologies Inc.
• Biovault Family
• PromoCell GmbH
• Precision Cellular Storage Ltd. (Virgin Health Bank)

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Nova one advisor, Inc. has segmented the global Biobanks market

By Product

• Equipment
• Consumables
• Laboratory Information Systems

By Service

• Biobanking and Repository
• Validation/Qualification
• Lab Processing
• Cold Chain Logistic
• Others

By Biospecimen Type

• Human Tissues
• Stem Cells
• Organs
• Others

By Biobank

• Physical Biobanks
• Virtual Biobanks

By Application

• Drug Discovery and Clinical Research
• Therapeutics
• Clinical Diagnostics
• Others

By Type of Biobank

• Population-based Biobanks
• Disease-oriented Biobanks

By Ownership

• National/regional agency
• Non-Profit Organization
• Universities
• Private Organization

By Storage

• Manual Storage
• Automated Storage

Regional Segmentation

• Asia-Pacific [China, Southeast Asia, India, Japan, Korea, Western Asia]
• Europe [Germany, UK, France, Italy, Russia, Spain, Netherlands, Turkey, Switzerland]
• North America [United States, Canada, Mexico]
• South America [Brazil, Argentina, Columbia, Chile, Peru]
• Middle East & Africa [GCC, North Africa, South Africa]

Objectives of the Study

• To define, describe, and forecast the Biobanking market based on type, technology, application, end user, and region
• To provide detailed information regarding the major factors influencing market growth (such as drivers, restraints, opportunities, and challenges)
• To strategically analyze micromarkets with respect to individual growth trends, prospects, and contributions to the total market
• To analyze opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders
• To forecast the size of the market segments with respect to five major regions, namely, North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa
• To profile key market players and comprehensively analyze their product portfolios, market shares, and core competencies
• To track and analyze competitive developments, such as product launches, expansions, acquisitions, agreements, and collaborations in the Biobanking market

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