Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the Biobanking market.
Trusted Business Insights presents an updated and Latest Study on Biobanking Market 2019-2029. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market.The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the Biobanking market during the forecast period (2019-2029).It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
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The global biobanking market size was USD 25.09 billion in 2018 and is projected to reach USD 49.46 billion by 2026, exhibiting a CAGR of 8.9% during the forecast period.
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A biobank is a practice of creating wide-range repositories for the collection, storage, and distribution of human samples such as blood, plasma, serum, urine, tissues, cells, and others. The field of biobanking has tremendously evolved over the years and is currently witnessing a significant growth. The integration of advanced technologies, data analytics, and automation has changed the traditional biobanks into virtual biobanks, giving rise to a transformative market potential. Globally, there are several types of biobanks such as, disease-oriented biobanks, population-based biobanks, tissue banks, and blood banks which are contributing to the market growth. Growing investments for drug development and increasing prevalence of disastrous diseases such as cancer, respiratory diseases, Alzheimers disease, and others are prominently leveraging the growth of this market.
MARKET TRENDS
Sustainable Biobanking is Likely to Propel Market GrowthSustainability of a biobank is crucial to remain operative and effective in the market. Despite financial support from public organizations, insecurity for long-term funding is a significant concern today. To achieve greater sustainability, a balance between financial, operational, and social dimensions of the biobank is necessary. Increased sustainability of the biobank would lead to the generation of higher revenue and thus, propel the global biobanking market. Currently, biobanks, as well as several industry stakeholders, are approaching various strategies to meet the sustainability goal. For instance, Biobanking and Bimolecular Resources Research Infrastructure (BBMRI) based in the Netherlands, has made a series on sustainable biobanking, which includes nine recommendations (for example, draft a business plan, user-centered perspective, choosing of business model, and others) for biobanks to achieve sustainability. The set also provides business tools for biobanks and case study analysis. Such strategies are the helping hand for biobanks across the globe to achieve faster sustainability during the forecast period.
MARKET DRIVERS
Facility to Conserve Cord Blood Stem Cells to Proliferate Market Potential
Cord blood is the blood that remains in the umbilical cord post-delivery of a baby. It is the most abundant source of stem cells that is conserved and processed for medical research. The conservation of cord blood is on high demand in the field of biobanking and thus, is likely to increase the potential of the market in the coming years. Moreover, the launch of cord blood stem cell biobanking is majorly driving the market. For instance, in February 2020, Lund University in Sweden launched the worlds largest stem cell biobanking. The biobank will help researchers understand the origin of the most common disorders, such as Alzheimers disease and Parkinsons disease. Additionally, increasing prevalence of chronic diseases worldwide also plays a significant role in contributing to the launch of stem cell biobanks. Therefore, a rising number of biobanks will drive the biobanking market growth in the forecast period.
Launch of Software for Virtual Biobanking to Fuel Market Growth
In recent years, this market has rapidly undergone an evolution. The integration of advanced technologies with the biobanking system is currently the foremost market driver. Virtual biobanking is now revolutionizing the biobanking system as it minimizes time constraints and allows researchers to conduct the research smoothly. Virtual biobanking has helped the biobanks to generate higher revenue, thus increasing the market value and propelling the market growth. In addition, multiple software companies are into the development of software for the ease of the biobanking system and the adoption of a virtual biobanking system. For example, in September 2018, Technidata Medical Software launched a feature for its TDBioBank software solution. This software solution helps the biobank to gain visibility and improve the quality of the service provided to the customers. Thus, virtual biobanking is set to have multiple advantages and aid in the generation of higher revenue.
MARKET RESTRAINT
Ethical Challenges in Emerging Countries to Limit Growth
Ethical implication is an integral part of biobanking with respect to informed consent from patients, handling, storage, and distribution of samples. But, factors such as high level of poverty, lower literacy rates, and traditional practices in the emerging countries cause hindrance in the implications. Additionally, the lack of training and counselling on medical ethics to the respective personnel of biobank is another factor to limit the growth of the global biobanking market. Moreover, the misconceptions of biobanking in the patient population can also affect the growth of the market. The above-mentioned factors are likely to affect the overall value of the market in the coming years.
SEGMENTATION
By Sample Storage Analysis
The Blood Segment to Dominate Stoked by Increasing Need for SamplesBased on sample storage, the market is segmented into blood, cells & tissue, and others. The blood segment dominated the global market in terms of market value and market share in 2018. Collection, storage, and distribution of blood samples have emerged mainly in the nations across the globe owing to a rise in the number of infectious diseases and demand for curative measures. Blood samples are considered as a crucial biospecimen as they contain DNA and RNA which are used in conductance of research activities. Thus, blood samples are primarily requested at the biobank by the pharmaceutical industries as well as academic medical institutions. According to the trans-hit bio database, 85% of blood samples are needed by the industry for non-cancerous studies as compared to other sample types.
Further, cells & tissues are anticipated to emerge as the fastest-growing segment in the global market. The faster growth is in accordance with the increasing demand for cells and tissue samples for investigating complex disorders such as Alzheimers disease, cancer, and others. Other samples, such as urine, hair, and many more, are anticipated to mark a slower growth during the forecast period owing to lesser demand and distribution of the sample.
By Application Analysis
Life Science Segment to Lead Backed by Rising Demand for Samples from Academic InstitutionsIn terms of application, the market is segmented into regenerative medicines, life science, and others. The life science segment dominated the global biobanking market in 2018. The dominance is attributed to the growth in the supply of sample distribution to the academic institutions and pharmaceutical R&D for clinical applications. Increasing prevalence of complex diseases and the need for curative measures are imposing pressure on the scientists. Additionally, the regenerative medicine segment is anticipated to grow at a higher CAGR during the forecast period. Furthermore, research and pharmaceutical companies globally have collaborated to conduct clinical trials of regenerative medicines for various applications.
Multiple clinical studies are in the pipeline, thus increasing demand for samples from biobanks. For example, in September 2019, the USFDA granted regenerative medicine advanced therapy designation for SB623 cell therapy of SanBio Group. Cell therapy is in the phase-2 clinical study indicated for the treatment of traumatic brain injury. The surging demand for personalized medicine is expected to play a critical role in human health. Hence, the demand for high-quality samples from biobanks is likely to mark a potential growth for the regenerative segment in the coming years.
By Settings Analysis
Establishment of Biobanks at Academic Medical Institutions to Aid Higher Market ValueBy settings, the global biobanking market is classified into academic medical institutions and pharmaceutical & biotechnology companies. In 2018, the academic medical institutions segment held the leading position in the market. The dominance is attributed to factors such as higher investments in R&D and a growing need for multiple samples to carry research activities. Increasing prevalence of cancer, Alzheimers disease, and others is demanding for higher curative measures, thus promoting research activities. Hence, the establishment of biobanks by the medical institutions has aided in the generation of higher market value. Biobanks at pharmaceutical and biotechnology companies also have a considerable share in the market owing to the adoption of advanced technologies and establishment of biobanks.
REGIONAL ANALYSIS
Europe dominated the market with market size of USD 8.93 billion in 2018. This dominance is attributed to the presence of well-established biobanks in the Nordic countries such as Sweden, Norway, Denmark, and others. According to an article posted in Global Engage, a producer of conferences and summits for the Life Science and pharmaceutical sector, approximately 40% of the population in Iceland have contributed DNA, which is safely and privately stored in the biobanks. Such contributions and growing supply of samples are adding to the market size of the European biobank market. Moreover, continuous efforts in R&D by European pharmaceuticals are also one of the factors responsible for the higher market share of the region. North America holds the second position in this market owing to the conductance of multiple clinical trials by the research institutes and pharmaceutical companies. Also, increasing technological advancements to set-up virtual biobank is a factor responsible for the geographical position of North America. Asia Pacific is expected to register a higher CAGR during the forecast period owing to higher sales of blood and cell samples to the academic medical institutions for research purposes. Additionally, growing investments in setting up well-structured biobanks are also responsible for surging the biobank market in the Asia Pacific region during the forecast period.On the other hand, Latin America and the Middle East & Africa are likely to exhibit a considerably lower growth in terms of market value owing to ethical challenges and smaller investments in the maintenance of biobank.
KEY INDUSTRY PLAYERS
Biobank Graz and Shanghai Zhangjiang Biobank Have Storage Targets of Million SamplesThe global biobanking market is consolidated with a number of banks worldwide. Some banks are disease-oriented, while some are population-based biobanks. Other banks, such as tissue banks, cell-specific biobank, blood biobank, and many others, are also contributing to the market. Biobank Graz is a publicly funded biobank having about 20 million sample collection facilities. Working on automation technology, Biobank Graz distributes samples ethically and scientifically to academic institutions worldwide. It is also known as a central hub for biomedical research. Similarly, biobanks having substantial storage facilities and distribution strategies are anticipated to contribute to the enhancement and market value of the global market.
LIST OF KEY COMPAINES PROFILED:
KEY INDUSTRY DEVELOPMENTS:
September 2019 The U.K launched a USD 247 million DNA database for Genome Decoding Research Project. U.K. Biobank, as a part of the project, will analyze and sequence the genetic codes of 500,000 volunteers. Pharma giants such as GlaxoSmithKline plc and Johnson and Johnson are also a part of the project.
REPORT COVERAGE
The biobanking market report provides a detailed analysis of the market and focuses on key aspects such as leading biobanks, sample types, and leading applications of the sample. Besides this, the report offers insights into the market trends and highlights key industry developments. In addition to the aforementioned factors, the report encompasses several factors that have contributed to the growth of the market over recent years. It further highlights some of the growth-stimulating factors and restraints, helping the reader to gain in-depth knowledge about the market.
Report Scope & Segmentation
Segmentation
By Sample Storage
By Application
By Settings
By Geography
Looking for more? Check out our repository for all available reports on Biobanking in related sectors.
Quick Read Table of Contents of this Report @ Biobanking Market Size, Share & Industry Analysis, By Sample Storage (Blood, Cells & Tissue, and Others), By Application (Regenerative Medicines, Life Sciences, and Others), By Settings (Academic Medical Institutes, and Pharmaceutical & Biotechnology Companies), and Regional Forecast, 2019-2026 (Includes COVID-19 Business Impact)
Trusted Business InsightsShelly ArnoldMedia & Marketing ExecutiveEmail Me For Any ClarificationsConnect on LinkedInClick to follow Trusted Business Insights LinkedIn for Market Data and Updates.US: +1 646 568 9797UK: +44 330 808 0580
Continued here:
- Manjits battle with Myelodysplastic Syndrome - The Citizen - February 27th, 2025
- Lost Cells: a podcast on the realities of private stem cell banking - SWI swissinfo.ch in English - February 15th, 2025
- Stem Cells in the Umbilical Cord - PMC - PubMed Central (PMC) - February 15th, 2025
- Umbilical Cord Blood Banking Market Size Set to Reach $7.9 Billion by 2031 Driven by Growing Awareness and Hybrid Models - Exclusive Report by The... - February 11th, 2025
- Immune Complex Shaves Stem Cells to Protect against Cancer - February 4th, 2025
- Should I bank my newborn's umbilical cord blood? | BabyCentre - February 4th, 2025
- Characteristics of Parthenogenetic Stem Cells and Their Potential ... - February 4th, 2025
- Cord Blood Banking Leader Cryo-Cell Announces Regular Quarterly Cash Dividend and Pause of Strategic Initiatives - Business Wire - January 31st, 2025
- Edmontons Lois Hole Hospital collects 9,000 units of cord blood since launching 10 years ago - CityNews Edmonton - January 21st, 2025
- Lois Hole Hospital for Women celebrates 10 years as cord blood collection site - CTV News - January 21st, 2025
- LMRUK: 10 years of fighting blood cancer - Charity Today News - January 21st, 2025
- A phase 2 pilot study of umbilical cord blood infusion as an adjuvant consolidation therapy in elderly patients with acute myeloid leukemia -... - December 22nd, 2024
- Hope for the treatment of alzheimers disease may lie in umbilical cord stem cells - The Portugal News - December 20th, 2024
- Stem Cells: Hope on the Horizon for Preterm Babies - Monash University - December 17th, 2024
- Cord Blood & Uses to Treat Disease About Stem Cells - December 17th, 2024
- LMRUK: New mothers share why theyre banking their babies cord blood stem cells - Charity Today News - November 29th, 2024
- scRNA-seq revealed transcriptional signatures of human umbilical cord primitive stem cells and their germ lineage origin regulated by imprinted genes... - November 26th, 2024
- Cord Blood Banking FAQs - Cord For Life - November 25th, 2024
- Hematopoietic Stem Cell Transplantation Market: Industry Analysis and Forecast 2024-2033 - openPR - November 22nd, 2024
- Thousands of donations, fewer than 2% used. Why cord blood transplants are so rare - CBC News - November 18th, 2024
- Stem cells: the alternative solution to umbilical cord blood - Genethique - November 10th, 2024
- Chapter 64 Role of Umbilical Cord Blood Transplantation - October 30th, 2024
- Major Trend Transforming the Stem Cell Market in 2024: Advancements in Automated Stem Cell Analysis Systems - EIN News - October 30th, 2024
- Stem cell therapies for neurological disorders: current progress ... - October 22nd, 2024
- OmniaBio Announces Opening of New Commercial Manufacturing Facility in Canada, Bringing Life-Saving Cell and Gene Therapies to Patients - AsiaOne - October 18th, 2024
- Click N' Play STEM Lesson on Cord Blood Launches for Teachers this November - EIN News - October 18th, 2024
- Black, White Cancer Patients Now Benefit Equally From Cord Blood Therapy - HealthDay - October 4th, 2024
- What Are Leukemia and Lymphoma and How Are They Treated? - LVHN News - September 20th, 2024
- Advanced Treatment for Leukemia and Lymphoma at Lehigh Valley Topper Cancer Institute - LVHN News - September 18th, 2024
- Functional stem cells successfully grown in lab for the first time - The Star Online - September 14th, 2024
- Umbilical Cord Blood Stem Cells as Third-party Adjuvant Infusions in Human Leukocyte Antigen Antibody-Positive Patients Undergoing Haploidentical... - September 12th, 2024
- Cord Blood Banking Market Size to Surpass USD 65.6 Billion by 2032 | With 7.9% CAGR - openPR - September 12th, 2024
- Blood stem cell breakthrough could have massive impact on patients - Yahoo! Voices - September 8th, 2024
- Scientists have grown blood stem cells in the laboratory - TURKMENPORTAL - September 4th, 2024
- Global Cord Blood Product Market Poised for Significant Growth: Projected to Reach USD 1,341.7 Million by 2034 | Future Market Insights, Inc. - Yahoo... - September 2nd, 2024
- Global Allogeneic Stem Cell Transplantation Market Expected to Grow to $6.75 Billion by 2031 - WhaTech - August 31st, 2024
- Global Cord Blood Product Market Poised for Significant Growth: Projected to Reach USD 1,341.7 Million by 2034 | Future Market Insights, Inc. -... - August 31st, 2024
- Expansion Of Cord Blood-derived CD34 Cells In A Hollow-Fiber Bioreactor With 10% Standard Cytokine Concentration - BioProcess Online - August 22nd, 2024
- New Study: These Bizarre Blood-Sucking Fish Have a Jaw-Dropping Evolutionary Origin - SciTechDaily - July 31st, 2024
- Cord blood banking industry faces scrutiny over unproven claims and high costs - News-Medical.Net - July 28th, 2024
- Stem cells donated 15 years ago let poorly boy, five, leave home for the first time in six months - Express & Star - July 26th, 2024
- Cord blood stem cells transferred from Guangdong to treat girl with thalassemia - Hong Kong Standard - July 26th, 2024
- Cord Blood Banking Curative Benefits Often Oversold to Parents: NYT Investigation - AboutLawsuits.com - July 22nd, 2024
- Umbilical cord stem cells donated in 2008 transform life of five-year-old boy with rare genetic disorder - The Independent - July 22nd, 2024
- Boy, 5, diagnosed with deadly rare condition has life transformed after stem cell transplant from umbilical cord blood - Sky News - July 22nd, 2024
- Stem cells donated 15 years ago let poorly boy, five, leave home for the first time in six months - Shropshire Star - July 22nd, 2024
- Ottawa mother raising awareness on importance of donating umbilical cord blood - CTV News Ottawa - July 22nd, 2024
- Inside a blood cord bank: How facilities store and maintain the quality of units - CNA - July 8th, 2024
- Exploring the potential of predicted miRNAs on the genes involved in the expansion of hematopoietic stem cells ... - Nature.com - July 5th, 2024
- Overview of Umbilical Cord Blood - Stanford Medicine - July 5th, 2024
- Comparison of the therapeutic effects of human umbilical cord blood-derived mesenchymal stem cells and adipose ... - Frontiers - July 5th, 2024
- A Review of Placenta and Umbilical Cord-Derived Stem Cells and the Immunomodulatory Basis of Their Therapeutic ... - Frontiers - July 2nd, 2024
- Jacques Galipeau, MD, on International Insights Into Cell and Gene Therapy Development - CGTLive - June 30th, 2024
- Stem Cell Therapy Market to Hit $63.23 billion by 2031, at a CAGR of 22.6%, says Coherent Market Insights - GlobeNewswire - June 28th, 2024
- Hematopoietic stem cell transplantation (HSCT) Market Future Growth Trends, Upcoming Opportunities and ... - openPR - June 24th, 2024
- Global Biopreservation Market Forecast Report 2024-2029: Advances in Biobanking and Growing Trend of Conserving ... - GlobeNewswire - June 4th, 2024
- Cord Blood Banking Services Market to Witness Impressive Growth, Reaching USD 4.5 Billion by 2030 - EIN News - May 27th, 2024
- Department of Health Abu Dhabi and M42 launch regions largest hybrid cord blood bank - ZAWYA - May 15th, 2024
- Cord Blood Banking - Stanford Medicine Children's Health - May 8th, 2024
- Umbilical Cord Blood Transplants: Current Status and Evolving Therapies - May 8th, 2024
- Embattled Cordlife receives letter of demand from client for breach of contract - The Straits Times - May 4th, 2024
- From Cord Blood to Microbiome; The evolution of Rotary's gift to the people of WA - Lifeblood - May 2nd, 2024
- Efficacy and safety of human umbilical cord-derived mesenchymal stem cells in the treatment of refractory immune ... - Nature.com - April 28th, 2024
- Hitting the pavement for cord blood research | Cranbourne Star News - Cranbourne Star News - April 28th, 2024
- One year to test 200 Cordlife samples 'totally unjustified': Global cord blood banking experts - The Straits Times - April 15th, 2024
- Clinical trial: First cardiac bioimplants for treatment of myocardial infarction using umbilical cord stem cells - Medical Xpress - April 7th, 2024
- The umbilical cord: a rich and ethical stem cell source to advance ... - March 30th, 2024
- Story of discovery: getting a Notch up on cord blood cell ... - March 30th, 2024
- Cord Blood Transplants | Memorial Sloan Kettering Cancer Center - March 30th, 2024
- Therapeutic effect and study of human umbilical cord blood mononuclear cells in patients with ischaemic bowel ... - Nature.com - March 17th, 2024
- Global Cord Blood & Tissue Banking Industry Report 2024: The Vast Majority of the Global Cord Blood Market is Now ... - PR Newswire - March 15th, 2024
- Improving Transplant Outcomes and Cell Therapy Approaches - RegMedNet - March 9th, 2024
- The inhibition of ADAM17 in cord blood stem cell-derived CD16+ NK cells to enhance their cytotoxicity against acute ... - ScienceDirect.com - March 1st, 2024
- Beating Blood Cancer through Recycling - a Community crowdfunding project in Liverpool by Kate Williams - Crowdfunder UK - February 24th, 2024
- Cord Blood Registry (CBR ) by CooperSurgical and Fulgent Genetics Launch Innovative Genetic Testing - Investing.com Canada - February 9th, 2024
- Young cancer patient with 'no hope' of recovery saved by baby's umbilical cord - Study Finds - February 9th, 2024
- Global Cord Blood & Tissue Banking Industry Report 2024 - The Vast Majority of the Global Cord Blood Market is Now ... - ACROFAN - January 26th, 2024
- Finding the optimal combination of anticancer drug administration for the conditioning of cord blood transplantation - Medical Xpress - January 26th, 2024
- Cord Blood Banking Market Sales and Revenue Report 2023-2032 - WhaTech Technology and Markets News - January 26th, 2024
- Global Cord Blood & Tissue Banking Industry Report 2024 - The Vast Majority of the Global Cord Blood Market is Now ... - ACROFAN USA - January 24th, 2024
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