Asia Pacific Biobanking Market Report and Forecast 2024-2032

The global biobanking market size was valued at USD 72.1 billion in 2023, with Asia Pacific holding a significant market share. The market is driven by the increased investments from both government and private sectors in biobanking. It is expected to grow at a CAGR of 7.40% during the forecast period of 2024-2032, with the values likely to attain USD 131.1 billion by 2032.

Key Takeaways

• Asia Pacific is reported to have a high prevalence of chronic diseases, with the data revealing that 1 in every 4 people in India has a risk of dying from a noncommunicable disease. This rising burden of chronic disease is expected to stimulate the development of novel drugs, thereby impacting the market demand.
• In July 2023, CU Medicine successfully established the CU-Med Biobank, an internationally accredited biobank in Hong Kong, which is expected to turn it into an important biomedical research hub. The increased investment in the establishment of biobanks is likely to augment the Asia Pacific biobanking market share.
• The increased recognition of biobanks as a valuable resource for researchers to study the disease onset and progression is elevating the market value. In November 2023, an INR 20 crore biobank was launched in South India, the third such facility in India, to serve as a repository for collaborative research initiatives to map the prevention and reversal of diseases, among others.

Asia Pacific Biobanking Market Analysis

The practice of collecting, preserving, and managing biological samples such as blood, DNA, and tissues, among others, is defined as biobanking. The primary purpose of biobanks is to provide a reliable resource for medical research and development. These specialized facilities act as a repository for biological samples often needed for genetic analysis and biomarker discovery, thus supporting the advancement of personalized treatment therapies. The growing emphasis on genetic research and personalized medicine is significantly contributing to the Asia Pacific biobanking market growth.

The rising burden of chronic diseases has a profound influence on market dynamics. Asia Pacific is reported to have a high prevalence of these chronic conditions, with data revealing that 1 in every 4 people in India are at a risk of dying from a noncommunicable disease such as cancer, diabetes, and cardiovascular disease . Since biobanks are a prerequisite for developing new drugs and advanced diagnostic technologies. Consequently, the demand for these repositories is expected to grow with the rise in chronic disease cases.

One of the major Asia Pacific biobanking market trends is the increased investment in infrastructure development and establishment of biobanks. In July 2023, CU Medicine (Faculty of Medicine, The Chinese University of Hong Kong) successfully established the CU-Med Biobank, an internationally accredited biobank, expected to turn Hong Kong into an important biomedical research hub. The biobank is increasingly used for large-scale genomic research and is likely to attract collaborations from leading pharmaceutical companies and research institutes, thereby elevating the market value in the region.

The growing recognition of biobanks as a valuable resource for researchers to study the onset and progression of diseases is boosting the Asia Pacific biobanking market demand. In November 2023, an INR 20 crore state-of-the-art biobank was launched in South India, the third such facility in the region to serve as a repository for collaborative research initiatives to map the prevention and reversal of diseases, among others. The biobank boasts 23 freezers with a capacity to store over 3 lakh samples. Such advanced biobanks are poised to accelerate innovation in the healthcare sector, ultimately propelling market growth in the coming years.

Asia Pacific Biobanking Market Segmentation

Market Breakup by Product and Service

• Equipment
• Consumables
• Service
• Software

Market Breakup by Application

• Regenerative Medicine
• Life Science Research
• Clinical Research

Market Breakup by Sample Type

• Blood Tissue
• Nucleic Acids
• Cell Lines

Market Breakup by End User

• Academic Institutions
• Pharma and Biotech Companies

Market Breakup by Country

• China
• Japan
• India
• ASEAN
• Australia
• Others

Asia Pacific Biobanking Market: Competitor Landscape

The key features of the market report include patent analysis, grants analysis, funding and investment analysis, partnerships, and collaborations analysis by the leading key players. The major companies in the market are as follows:

• PHC Holdings Corporation
• Thermo Fisher Scientific, Inc.
• Becton, Dickinson and Company
• QIAGEN N.V.
• Merck KGaA
• Avantor, Inc.
• Cryoport, Inc.
• Tecan Trading AG
• Lifecode Technologies Pte Ltd
• China Cord Blood Corporation

Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.

FAQs

What is the Asia Pacific biobanking market forecast outlook for 2024-2032?
The Asia Pacific biobanking market is expected to be driven by the rising demand for the global market, which is anticipated to grow at a CAGR of 6.89% during the forecast period of 2024-2032 and is likely to reach a market value of USD 131.1 billion by 2032.

What are the major factors aiding the Asia Pacific biobanking market demand?
The rising emphasis on the advancement of genetic research and personalized medicine along with increasing medical research expenditure is fuelling the demand for the market.

What are the major Asia Pacific biobanking market trends?
One of the significant trends in the market is the increased investment in the establishment of biobanks. In July 2023, CU Medicine successfully established the CU-Med Biobank in Hong Kong, which is expected to turn into an important biomedical research hub in the region.

What is the market segmentation based on the product and services?
Based on the products and services, the market is segmented into equipment, consumables, services, and software.

What is the market breakup by sample type?
By sample type, the market is divided into blood tissue, nucleic acids, and cell lines.

What are the major end users of biobanking?
End users of the market are academic institutions, pharma, and biotech companies.

What are the applications of biobanking?
Major application areas include regenerative medicine, life science research, and clinical research.

What is the market segmentation by countries?
The market segmentation by countries includes China, Japan, India, ASEAN, and Australia, among others.

Who are the key players involved in the Asia Pacific biobanking market?
The key players in the market are PHC Holdings Corporation, Thermo Fisher Scientific, Inc., Becton, Dickinson and Company, QIAGEN N.V., Merck KGaA, Avantor, Inc., Cryoport, Inc., Tecan Trading AG, Lifecode Technologies Pte Ltd, and China Cord Blood Corporation.


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