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The Biobanks Market grew from USD 67.81 billion in 2023 to USD 75.75 billion in 2024. It is expected to continue growing at a CAGR of 11.80%, reaching USD 148.10 billion by 2030. Speak directly to the analyst to clarify any post sales queries you may have.
Biobanks are repositories that store biological samples for use in research, medicine, and clinical trials. They play a crucial role in advancing personalized medicine, genomics, and biotechnology, offering vast potential in drug development, disease prevention, and biomarker identification. The necessity of biobanks is underscored by the growing demand for high-quality biospecimens that can facilitate large-scale studies aimed at uncovering genetic, environmental, and lifestyle factors affecting human health. The applications of biobanks are broad, including supporting research in cancer, cardiovascular diseases, and other chronic illnesses, as well as aiding developments in diagnostics and therapeutics. Biobanks find end-use in academic institutions, pharmaceutical companies, hospitals, and clinical research organizations.
Key growth factors for the biobanking market include the increasing prevalence of chronic diseases, rising investments in research and development, and technological advancements in biobanking methods. The adoption of precision medicine and the integration of AI and data analytics in managing biobank data present significant growth opportunities. However, market expansion is challenged by ethical concerns regarding consent and privacy, the high cost of biological sample storage and management, and regulatory hurdles that vary across regions. Additionally, maintaining the integrity and sustainability of biobanks over time remains an ongoing issue.
To capitalize on market opportunities, stakeholders should focus on enhancing data protection mechanisms, streamlining regulatory frameworks, and investing in cost-effective storage solutions like automated biobanking systems. Innovation can thrive in the development of integrated bioinformatics platforms that allow for better data sharing and collaboration. There is also potential in expanding biobank services, such as offering tailored sample collection kits and customized analytical services for specific research needs. The market is complex, characterized by rapid technological and scientific advancements that necessitate adaptive strategies and collaborations between public and private sectors. Organizations should focus on fostering partnerships with technology firms and research institutions to drive forward the next wave of biobanking innovations.
Understanding Market Dynamics in the Biobanks Market
The Biobanks Market is rapidly evolving, shaped by dynamic supply and demand trends. These insights provide companies with actionable intelligence to drive investments, develop strategies, and seize emerging opportunities. A comprehensive understanding of market dynamics also helps organizations mitigate political, geographical, technical, social, and economic risks while offering a clearer view of consumer behavior and its effects on manufacturing costs and purchasing decisions.- Market Drivers
- Increase in incidence of chronic disease
- Rising awareness about biobanks
- Increasing population coupled with presence of a large geriatric population base
- Market Restraints
- Ethical and legal issues related to biobanking
- Market Opportunities
- Growing genomic research activities in economies
- Increasing public awareness about genomic testing and stem cell therapies
- Market Challenges
- Long-Term Sustainability of Biobanks
Exploring Porter’s Five Forces for the Biobanks Market
Porter’s Five Forces framework further strengthens the insights of the Biobanks Market, delivering a clear and effective methodology for understanding the competitive landscape. This tool enables companies to evaluate their current competitive standing and explore strategic repositioning by assessing businesses’ power dynamics and market positioning. It is also instrumental in determining the profitability of new ventures, helping companies leverage their strengths, address weaknesses, and avoid potential pitfalls.Applying PESTLE Analysis to the Biobanks Market
External macro-environmental factors deeply influence the performance of the Biobanks Market, and the PESTLE analysis provides a comprehensive framework for understanding these influences. By examining Political, Economic, Social, Technological, Legal, and Environmental elements, this analysis offers organizations critical insights into potential opportunities and risks. It also helps businesses anticipate changes in regulations, consumer behavior, and economic trends, enabling them to make informed, forward-looking decisions.Analyzing Market Share in the Biobanks Market
The Biobanks Market share analysis evaluates vendor performance. This analysis provides a clear view of each vendor’s standing in the competitive landscape by comparing key metrics such as revenue, customer base, and other critical factors. Additionally, it highlights market concentration, fragmentation, and trends in consolidation, empowering vendors to make strategic decisions that enhance their market position.Evaluating Vendor Success with the FPNV Positioning Matrix in the Biobanks Market
The Biobanks Market FPNV Positioning Matrix is crucial in evaluating vendors based on business strategy and product satisfaction levels. By segmenting vendors into four quadrants - Forefront (F), Pathfinder (P), Niche (N), and Vital (V) - this matrix helps users make well-informed decisions that best align with their unique needs and objectives in the market.Strategic Recommendations for Success in the Biobanks Market
The Biobanks Market strategic analysis is essential for organizations aiming to strengthen their position in the global market. A comprehensive review of resources, capabilities, and performance helps businesses identify opportunities for improvement and growth. This approach empowers companies to navigate challenges in the increasingly competitive landscape, ensuring they capitalize on new opportunities and align with long-term success.Key Company Profiles
The report delves into recent significant developments in the Biobanks Market, highlighting leading vendors and their innovative profiles. These include Acorn Biolabs, Inc., Artizan Biosciences, Inc., Bay Biosciences LLC, Beckman Coulter, Inc. by Danaher Corporation, Becton, Dickinson and Company, BioLife Solutions Inc., LVL Technologies GmbH & Co. KG, Merck KGaA, ProteoGenex, Inc., Provia Laboratories, LLC, Shanghai Zhangjiang Biobank, Taylor-Wharton, Tecan Trading AG, Thermo Fisher Scientific Inc., and UK Biobank Limited.Market Segmentation & Coverage
This research report categorizes the Biobanks Market to forecast the revenues and analyze trends in each of the following sub-markets:- Component
- Consumables
- Equipment
- Services
- Software
- Sample Type
- Biological Fluids
- Blood Products
- Cell Lines
- Human Tissues
- Nucleic Acids
- Application
- Clinical Research
- Life Science Research
- Regenerative Medicine
- Region
- Americas
- Argentina
- Brazil
- Canada
- Mexico
- United States
- California
- Florida
- Illinois
- New York
- Ohio
- Pennsylvania
- Texas
- Asia-Pacific
- Australia
- China
- India
- Indonesia
- Japan
- Malaysia
- Philippines
- Singapore
- South Korea
- Taiwan
- Thailand
- Vietnam
- Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom
- Americas
The report provides a detailed overview of the market, exploring several key areas:
- Market Penetration: A thorough examination of the current market landscape, featuring comprehensive data from leading industry players and analyzing their reach and influence across the market.
- Market Development: The report identifies significant growth opportunities in emerging markets and assesses expansion potential within established segments, providing a roadmap for future development.
- Market Diversification: In-depth coverage of recent product launches, untapped geographic regions, significant industry developments, and strategic investments reshaping the market landscape.
- Competitive Assessment & Intelligence: A detailed analysis of the competitive landscape, covering market share, business strategies, product portfolios, certifications, regulatory approvals, patent trends, technological advancements, and innovations in manufacturing by key market players.
- Product Development & Innovation: Insight into groundbreaking technologies, R&D efforts, and product innovations that will drive the market in future.
Additionally, the report addresses key questions to assist stakeholders in making informed decisions:
- What is the current size of the market, and how is it expected to grow?
- Which products, segments, and regions present the most attractive investment opportunities?
- What are the prevailing technology trends and regulatory factors influencing the market?
- How do top vendors rank regarding market share and competitive positioning?
- What revenue sources and strategic opportunities guide vendors' market entry or exit decisions?
Table of Contents
1. Preface
2. Research Methodology
4. Market Overview
5. Market Insights
6. Biobanks Market, by Component
7. Biobanks Market, by Sample Type
8. Biobanks Market, by Application
9. Americas Biobanks Market
10. Asia-Pacific Biobanks Market
11. Europe, Middle East & Africa Biobanks Market
12. Competitive Landscape
LIST OF FIGURES
LIST OF TABLES
Companies Mentioned
The leading players in the Biobanks market, which are profiled in this report, include:- Acorn Biolabs, Inc.
- Artizan Biosciences, Inc.
- Bay Biosciences LLC
- Beckman Coulter, Inc. by Danaher Corporation
- Becton, Dickinson and Company
- BioLife Solutions Inc.
- LVL Technologies GmbH & Co. KG
- Merck KGaA
- ProteoGenex, Inc.
- Provia Laboratories, LLC
- Shanghai Zhangjiang Biobank
- Taylor-Wharton
- Tecan Trading AG
- Thermo Fisher Scientific Inc.
- UK Biobank Limited
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 196 |
| Published | October 2024 |
| Forecast Period | 2024 - 2030 |
| Estimated Market Value ( USD | $ 75.75 Billion |
| Forecasted Market Value ( USD | $ 148.1 Billion |
| Compound Annual Growth Rate | 11.8% |
| Regions Covered | Global |
| No. of Companies Mentioned | 16 |
