Biobanking Market to Reach USD 72.67 Billion by 2031 | Straits Research

Global Biobanking Market Growing at 5.2% CAGR | Industry Insights 2023-2031

According to Straits Research, the global Biobanking Market size was valued at USD 54.10 Billion in 2022. It is projected to reach USD 72.67 Billion by 2031, growing at a CAGR of 5.2% during the forecast period (2023–2031).

Drivers in the Biobanking Market

The biobanking market is experiencing significant growth due to the rising demand for personalized medicine, advancements in biotechnology and genomics, and increasing investments in healthcare infrastructure. Key factors driving the market include:

1. Growing Adoption of Precision Medicine – Biobanks play a critical role in developing targeted therapies by storing high-quality biological samples.
2. Advancements in Genomics and Biomarker Discovery – Next-generation sequencing and biomarker research are fueling demand for well-maintained biological specimens.
3. Government and Private Funding – Increased funding for biobanking initiatives is accelerating market expansion.
4. Expanding Research in Regenerative Medicine – Biobanks provide essential resources for stem cell research and tissue engineering.
5. Increasing Prevalence of Chronic Diseases – The demand for high-quality biospecimens is rising due to growing cases of cancer, cardiovascular diseases, and neurological disorders.

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Key Developments in the Biobanking Market

• Innovative Sample Preservation Techniques – Companies are focusing on advanced cryopreservation and automated sample storage solutions.
• Integration of AI and Big Data – AI-driven biobanks are enhancing sample utilization and data analysis.
• Expansion of Global Biobank Networks – Cross-border collaborations and standardization efforts are improving sample accessibility.
• Emerging Ethical and Regulatory Frameworks – Compliance with GDPR and HIPAA regulations is shaping the biobanking landscape.

Top Key Players in the Biobanking Market

1. BioIVT & Elevating Science
2. Geneticist Inc
3. Firalis S.A
4. AMS Biotechnology Ltd. (AMSBIO LLC)
5. US Biolab Corporation, Inc
6. ProteoGenex, Inc.
7. Cureline, Inc.
8. Bay Biosciences LLC
9. CTI Biotech
10. Boca Biolistics

Segmentation Analysis of the Biobanking Market

By Specimen Type

1. Blood Products
2. Solid Tissue
3. Cell Lines
4. Nucleic Acid
5. Others

By Type of Biobank

1. Population-Based Biobanks
2. Disease-Oriented Biobanks

By Ownership

1. National/Regional Agency
2. Non-Profit Organization
3. Universities
4. Private Organization

By Application

1. Therapeutic
2. Research

By End-User

1. Academic Institutions
2. Pharma & Biotech Companies

Conclusion

The Biobanking Market is set for steady growth, driven by advancements in personalized medicine, biomarker discovery, and regenerative medicine. With increasing government funding, regulatory support, and technological innovation, biobanking is poised to become an indispensable component of modern healthcare and research.

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