The global biobanking market size was US$ 87.40 billion in 2024 and is expected to reach US$ 208.81 billion by 2034, expanding at a compound annual growth rate (CAGR) of 9.1% between 2024 and 2034. The growth of the biobanking market is driven by the rising advancements in biotechnology and increasing investments in research and development.
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Market Overview
Biobanking refers to collecting, storing, and managing biological samples for research and medical purposes. The biobanking market is expanding rapidly due to the increasing usage of biobanks in genetic and genomic research, biomarker identification, and personalized medicine. The need for standardized, accurate, and reliable clinical and laboratory data is rising. Samples in biobanks are stored for longer periods of time, allowing researchers to access them whenever required. The increase in the prevalence of respiratory conditions, cardiovascular diseases, cancer, and Alzheimer’s has prompted the creation of biobanks, blood banks, disease-oriented biobanks, and population-based biobanks. The rising demand for biological samples, such as tissues and DNA, for drug development and clinical trials further contributes to market expansion.
Major Trends in the Biobanking Market
Increasing Funding:
With the growing need for biological samples for clinical trials, government as well as private entities are investing in biobank initiatives. Financial support enables biobanks to advance and maintain the necessary sample collection and management infrastructure. In addition, governments of various nations and pharmaceutical and biotechnology companies are investing heavily to establish biobanks, driving the growth of the market.
For Instance,
• In July 2024, the Science and Technology Secretary Peter Kyle announced that Amazon Web Services (AWS) is set to provide US$ 10 million worth of cloud computing credits to help ensure UK Biobank has the cloud infrastructure to store and handle its health data securely.
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Increasing Demand for Precision Medicine:
The rising demand for precision medicine is expected to drive the market growth. Precision medicine requires biological samples to understand the individual responses to treatments. Disease-oriented biobanks are growing quickly since they provide helpful information for managing complex diseases like melanoma. Biobanks serve as a link between clinical medicine and research and are crucial tools for advancing medical research, including precision medicine.
Advancement in Technology:
Technological advances create immense opportunities in the market. Innovations in sample collection, storage, and data management technologies improve the reliability of biobanking. Technological advances led to the development of automated biobanks. More than 35 million biological samples can be stored and curated by the highly automated biobank, serving as a resource for scientists pursuing precision medicine advancement. Precision medicine, clinical trials, translational research, and patient registries are supported by an automated biobank that is well-annotated to patient and sample databases.
Insights from Key Regions
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Europe’s Sustained Dominance in the Biobanking Market
Europe dominated the market with the largest share in 2023. This is mainly due to the presence of well-established biobanks. European countries have robust research institutes that focus on biomedical research. Healthcare agencies are making efforts to establish biobanks in countries like Austria, Germany, and Slovakia to support research initiatives.
Various governments, nonprofits, and private entities are funding the whole genome sequencing project at UK Biobank. The pharmaceutical industry in the UK is currently experiencing rapid growth, supporting the market in the region. The UK is a major contributor to the European biobanking market. The Medical Research Council (MRC) and the Wellcome charity provide the majority of funding for the UK Biobank. The UK Biobank is one of the world’s most valuable scientific resources and the most important resource for health research worldwide.
Asia Pacific: The Fastest-Growing Region
Asia Pacific is projected to witness the fastest growth during the forecast period due to the increasing government investments in research. Healthcare research programs can benefit from the promising field of biobanking. Biobanks offer adequate resources for the study of complex diseases like diabetes, cancer, and cardiovascular disease. The market is growing as a result of private sector investments in R&D, particularly in the fields of genetic and biopharma research. Governments around the region are investing heavily to improve healthcare and research infrastructure, supporting market growth.
China is leading the Asia Pacific biobanking market. This is mainly due to the increasing demand for precision medicine and rising research initiatives. Biobanks are helpful in research on human health and illness, which require collections of human biological material and genetic data. China's demand for biobanking is predicted to rise, but much infrastructure still needs to be constructed. Due to an aging population, rising healthcare awareness, and rising healthcare spending, China has a stronghold in the market.
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Market Segmentation
By product, the biobanking equipment segment dominated the market with the largest share in 2024, as they play a crucial role in sample collection and storage. Biobank equipment enhances the biobank workflow in both quantitative and qualitative ways, such as sample traceability, secure storage, sample preservation, and faster sample retrieval. A sizable collection of high-quality human samples is made available by biobanking equipment.
By service, the biobanking & repository segment led the market in 2024 as the need for high-quality specimens with precise, dependable, standardized clinical and laboratory data grew. Subsequently, the best possible biospecimen collection, processing, storage, tracking, and shipping have increased. Biorepositories eliminate the need for costly and time-consuming sample transportation by guaranteeing biosamples' constant availability and rapid and simple access.
By biospecimen type, the human tissues segment registered dominance in 2024, as human tissue samples from autopsies, organ transplants, surgical specimens, and biopsies are excellent resources for identifying possible targets to support clinical decisions like disease diagnosis and treatment. The rise in R&D activities for disease study further supports the segmental growth.
By biobank type, the physical/real biobanks segment led the biobanking market by holding the largest share in 2024 since they are essential in research. These biobanks provide access to a vast collection of high-quality human samples and related data. They are trustworthy centers for processing and storing samples from various sources, including clinical trials.
By application, the therapeutics segment dominated the market in 2024. This is mainly due to the increasing focus on novel drug discovery and development. Biobanks are crucial in drug discovery and development since they provide adequate biological samples.
By end-use, the pharmaceutical & biotechnology companies segment led the market in 2024. This is due to the active participation of these companies in R&D. Moreover, they often require biological samples, such as DNA and tissues, for research and drug and vaccine development.
Competitive Landscape & Major Breakthroughs in the Market
The market continues to evolve rapidly, with 2025 witnessing a dynamic competitive landscape. Key players operating in the biobanking market include Thermo Fisher Scientific Inc., EIT Health, Precision Cellular Storage Ltd. (Virgin Health Bank), BBMRI-ERIC, Danaher Corporation, Biocision, LLC., Charles River Laboratories, Becton, Dickinson, and Company (BD), Taylor-Wharton, Hamilton Company, Stemcell Technologies, Merck KGaA, Qiagen, Lonza, Biovault Family, and Tecan Trading AG. These companies are using various business development strategies to expand their presence.
In January 2025, Thermo Fisher Scientific Inc. announced that the UK Biobank Pharma Proteomics Project has selected its Olink Explore Platform to support the world’s largest human proteomics study. UKB-PPP aims to analyze more than 5,400 proteins from 600,000 samples to fuel the discovery of new protein biomarkers that can be used to predict, diagnose, and treat diseases. Chris Whelan, chair and principal investigator of UKB-PPP, said “UKB-PPP brings together scientists from the world’s leading pharmaceutical companies with the most advanced research technologies.”
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Recent Developments
• In May 2024, IK Partners (“IK”) announced that the IK Small Cap III Fund has signed an agreement to invest in BIOBank, a leading manufacturer and distributor of bone allografts for orthopedic, spine, dental, and cranio-maxillofacial surgery.
• In June 2022, Mars launched the world’s first pet biobank to drive breakthroughs in disease diagnosis & prevention. This biobank will bring together clinical, genetic, and lifestyle data of around 20,000 cats and dogs with the ambition of helping improve disease diagnosis and prevention.
Segments Covered in the Report
By Product
• Biobanking Equipment
• Temperature Control Systems
• Freezers & Refrigerators
• Cryogenic Storage Systems
• Thawing Equipment
• Incubators & Centrifuges
• Alarms & Monitoring Systems
• Accessories & Other Equipment
• Biobanking Consumables
• Laboratory Information Management Systems
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 End-use
• Pharmaceutical & Biotechnology Companies
• CROs & CMOs
• Academic & Research Institutes
• Hospitals
By Region
• North America
• Asia Pacific
• Europe
• Latin America
• Middle East and Africa (MEA)
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