Biobanking Market Size, Share, Industry Trends and Forecast to 2030

What is the Market Size & CAGR of Biobanking Market in 2021?

The global biobanking market recorded a market size of USD 2.8 billion in 2021 with a Compound Annual Growth Rate (CAGR) of 8.5%.

COVID-19 Impact on the Biobanking Market

The COVID-19 pandemic had a significant impact on the biobanking market, leading to disruptions in sample collection, storage, and research activities. However, the market saw a surge in demand for biobanking services to support COVID-19 research and vaccine development.

Biobanking Dynamics

The biobanking industry is driven by factors such as the increasing focus on personalized medicine, growing investments in research and development, and the rise in chronic diseases. Technological advancements in sample management and preservation have also contributed to the growth of the market.

Segments and Related Analysis

Sample Type:

The market is segmented into blood, tissues, cells, and DNA segments. Blood samples accounted for the largest market share in 2021 due to their widespread use in various research applications.

Application:

Biobanking applications include personalized medicine, drug discovery, and regenerative medicine. The personalized medicine segment dominated the market in 2021 as the demand for tailored treatments increased.

By Region Analysis

The biobanking market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America held the largest market share in 2021, driven by the presence of major biobanks and research institutions.

Key Market Players and Competitive Landscape

Key players in the biobanking market include Thermo Fisher Scientific, Brooks Life Sciences, and Becton, Dickinson and Company. The market is highly competitive, with companies focusing on partnerships and product innovations to gain a competitive edge.

Recent Happenings in the Biobanking Market

In recent developments, several biobanks have expanded their sample collections to include COVID-19 samples for research purposes. Additionally, advancements in automation and digitization have improved sample tracking and management in biobanks.