Us Biobanking Market Size By Applications, By Type, By End-User, By Deployment & By Technology 2032
Biobanking Market was valued at USD 70 Billion in 2022 and is projected to reach USD 178 Billion by 2030, growing at a CAGR of 12.1% from 2024 to 2030.
The United States biobanking market is experiencing significant growth, driven by advancements in precision medicine and increased investments in healthcare research. In 2023, the market was valued at approximately USD 16.23 billion and is projected to reach around USD 26.23 billion by 2030, reflecting a compound annual growth rate (CAGR) of 7.1%.
Biobanks play a crucial role in medical research by collecting and preserving biological samples such as tissues, blood, and nucleic acids. These repositories support studies in genomics, personalized medicine, and disease prevention. The surge in chronic diseases and the emphasis on personalized healthcare have amplified the demand for high-quality biological specimens, bolstering the biobanking sector.
Key factors contributing to this market expansion include:
Increased Funding: Both governmental and private entities are allocating substantial funds toward biobanking initiatives, recognizing their potential to accelerate medical breakthroughs.
Technological Advancements: Innovations in storage solutions, data management systems, and automation have enhanced the efficiency and reliability of biobanks.
Regenerative Medicine Growth: The rise of regenerative therapies necessitates the availability of diverse biological samples, further propelling biobank utilization.
From my experience working in a biomedical research facility, I've witnessed firsthand how access to well-maintained biobanked samples can expedite research processes. For instance, during a recent project on cancer genomics, our team leveraged biobank resources to obtain diverse tissue samples, significantly reducing the time required for sample collection and allowing us to focus more on data analysis and interpretation.
However, challenges persist. Ethical considerations regarding donor consent and data privacy are paramount. Ensuring standardized protocols across biobanks to maintain sample integrity and data accuracy is essential. Additionally, integrating biobanking data with other health information systems requires robust infrastructure and interoperability standards.
In comparison, the global biobanking market is also on an upward trajectory. In 2023, it was valued at approximately USD 76.97 billion and is expected to reach around USD 169.62 billion by 2033, growing at a CAGR of 8.26%. This global perspective underscores the pivotal role of biobanking in advancing healthcare research worldwide.
In summary, the U.S. biobanking market is poised for substantial growth, driven by technological innovations, increased funding, and the rising demand for personalized medicine. Addressing ethical, logistical, and infrastructural challenges will be crucial in harnessing the full potential of biobanks to revolutionize medical research and patient care.
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Beckman Coulter
Thermo Fisher
Panasonic
Sigma-Aldrich
SOL Group
Promega
BD
Brooks Life Science
QIAGEN
Tecan Group
Lifeline Scientific
So-Low
LVL Technologies
DNA Genotek
Micronic
Askion
Biolife Solutions
Cryo Bio System
BioRep
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Biobanking Market
Human Samples
Animal Samples
Environmental Samples
Genomic Research
Proteomic Research
Metabolomic Research
Refrigerated Storage
Frozen Storage
Room Temperature Storage
Liquid Nitrogen Storage
Biotechnology Companies
Pharmaceutical Companies
Academic and Research Institutions
Hospitals and Diagnostic Laboratories
Public Biobanks
Private Biobanks
Clinical Biobanks
Commercial Biobanks
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Biobanking Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Biobanking Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Biobanking Market, By Type
6. Global Biobanking Market, By Application
7. Global Biobanking Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Biobanking Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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