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Biobanking Market Projected to Reach USD 151.11 Billion by 2031 Driven by Rising Demand for Personalized Medicine

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The biobanking market holds immense potential, valued at USD 76.68 Billion in 2023 and projected to reach USD 151.11 Billion by 2031. This growth signifies a compound annual growth rate (CAGR) of 8.85% over the forecast period. Fueled by advancements in personalized medicine, genetic testing, and the growing prevalence of chronic diseases.

Several factors contribute to this expansion, including:

  • High investments in R&D for advanced therapies like regenerative medicine and personalized medicine.
  • Growing collaborations between public and private institutions to propel biobanking initiatives.
  • Rising investments from developing countries for advancements in personalized medicine.
  • Digitalization, precision medicine, and virtualization are revolutionizing the biobanking landscape. Public and private organizations are actively developing novel methods and collaborative strategies, further accelerating market growth.

List of Biobanking Market Companies Profiled in Report:

  • Avantor
  • Becton Dickinson and Company (BD)
  • BioCision
  • Biokryo GmbH
  • Brooks Life Sciences
  • Cell&Co BioServices
  • Danaher Corporation
  • Hamilton Company
  • Merck KGaA
  • Modul-Bio
  • Promega Corporation
  • QIAGEN
  • RUCDR Infinite Biologics
  • Taylor-Wharto
  • Tecan Trading AG.
  • Thermo Fisher Scientific Inc.
  • TTP Labtech
  • VWR International, LLC.
  • Worthington Industries

Download Free Sample Report of Biobanking Market @ https://www.snsinsider.com/sample-request/1753

Regenerative Medicine Innovations

Growing government initiatives and clinical trials associated with stem cell research are propelling the market forward. Investments in stem cell therapies and the ethical conduct of research, as exemplified by the Indian Council of Medical Research (ICMR) releasing National Guidelines for Stem Cell Research (NGSCR) 2017, are fueling market expansion.

Drug Discovery and Development Advancements

Biobanks provide researchers with valuable biospecimens for drug discovery and development. This facilitates the creation of more effective medications with fewer side effects.

R&D Funding: Increased funding by government and non-government organizations is accelerating biobanking initiatives. Examples include the Swedish Childhood Tumor Biobank receiving strategic investments and Audubon Bioscience’s successful crowdfunding campaign.

In October 2023, AstraZeneca research leveraged data from over 50,000 UK Biobank participants to identify novel relationships between genes and plasma proteins, potentially accelerating drug discovery.

Key Market Segments

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 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

Have Any Query? Ask Our Experts @ https://www.snsinsider.com/enquiry/1753

The Human Tissue Biobanking Segment Is Anticipated To Hold A Dominant Market Share

The increasing focus on disease research, particularly rare diseases, where human tissue samples are crucial. Advancements in regenerative medicine that rely heavily on human tissue samples for research and development. The surge in biobanks offering human tissue banking services, as exemplified by Newcastle University’s new collection and RareCan’s BioResource initiative.

Biobanking Market
Biobanking Market

Impact of Russia-Ukraine War on the Biobanking Market

Disrupted supply chains for essential equipment and consumables are estimated to cause a 15-20% decrease in imports to affected regions, hindering the establishment and expansion of biobanking facilities. A potential 20-30% drop in research personnel in Ukraine can stall ongoing biobanking projects and hinder international collaborations, hampering scientific progress. Funding re-allocation towards war efforts can lead to a 5-10% decline in research funding for biobanking initiatives in neighboring countries.

Key Regional Developments

Europe currently holds the largest market share (40% in 2023) due to continuous investments in large-scale biobanking projects. The UK, Germany, and France are at the forefront of this growth, with initiatives like the MHRA’s collaboration with Genomics England to launch a genetic biobank.

However, the Asia Pacific region is expected to witness the fastest growth propelled by investments from developing economies like India, China, and Japan. These countries are actively establishing biobanks, as seen with AIG Hospital launching its first biobank in India. The presence of private biobanks like i3tBR and JIPMER PBMC Puducherry further drives the market

Biobanking Market Study: Key Takeaways

  • Gain a thorough understanding of the market’s growth drivers, restraints, and future potential.
  • Identify the high-growth segments within the biobanking market to capitalize on emerging opportunities.
  • Explore the leading regions and their growth trajectories to prioritize your market expansion strategies.
  • Evaluate the potential influence of factors like the Russia-Ukraine war and economic slowdowns on the market.
  • Gain insights into the competitive landscape and identify key players within the biobanking market.

Purchase Biobanking Market Report @ https://www.snsinsider.com/checkout/1753

Table of Content

Chapter 1 Introduction

Chapter 2 Research Methodology

Chapter 3 Biobanking Market Dynamics

Chapter 4 Impact Analysis (COVID-19, Ukraine- Russia war, Ongoing Recession on Major Economies)

Chapter 5 Value Chain Analysis

Chapter 6 Porter’s 5 forces model

Chapter 7 PEST Analysis

Chapter 8 Biobanking Market Segmentation, By Product

Chapter 9 Biobanking Market Segmentation, By Service

Chapter 10 Biobanking Market Segmentation, By Biospecimen Type

Chapter 11 Biobanking Market Segmentation, By Biobanks Type

Chapter 12 Biobanking Market Segmentation, By Application

Chapter 13 Biobanking Market Segmentation, By Ownership

Chapter 14 Biobanking Market Segmentation, By End-use

Chapter 15 Regional Analysis

Chapter 16 Company profile

Chapter 17 Competitive Landscape

Chapter 18 Use Case and Best Practices

Chapter 19 Conclusion

Continued…

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