Global Biobanks Market Size, Share, Industry Trends Analysis 2020, & Forecast 2021-2026 (Includes Business Impact of COVID-19)

                                          
Abstract, Snapshot, Market Analysis & Market Definition: Global Biobanks Market


The global Biobanks market size is projected to reach US$ 77.74 billion by 2026, from US$ 59.69 billion in 2020, at a CAGR of 4.5% during 2021-2026. Use of biospecimens in clinical research has improved the potential success rate of different clinical trials being carried out for various disease regimens. Rising demand for disease - specific biosamples, especially tumor cells to accelerate precision medicine research, is expected to drive the market over the forecast period.

Usage of human biospecimens is also increasing in cohort studies. Number of registered clinical studies with the National Institutes of Health (NIH) increased from 181,305 in 2014 to 262,445 in 2017. A substantial number of large ongoing cohort studies related to precision medicine have fomented the establishment of population - based banks. Hence, increasing focus on development of novel therapies, such as personalized medicine, is anticipated to drive the market.

The market has evolved rapidly with technological advancements in genetic tools, as these tools raise demand for high - quality biospecimens to accelerate cancer research. For instance, in January 2017, Northwell Health collaborated with Indivumed to create a cancer research biobank. Furthermore, ongoing developments in information technology and automation solutions have improved the operating efficiency of biobanking services. For example, launch of fully automated programmed freezers and refrigerators supports temperature monitoring in biobanks.

Moreover, technological advancements in biotechnology workflows have expanded the application scope of biosamples. For example, in March 2017, UK biobank entered into a collaboration with GSK and Regeneron Genetics Center. Under this partnership, Regeneron sequenced all the 500,000 samples stored with the UK biobank, which were further used for clinical research. Following the exclusivity period for these pharma companies, the sequencing data will be incorporated with UK biobank to make it openly available.

Introduction of notable changes in biobanking operations in order to ensure optimization of sample storage and maintenance is one of the key factors driving this market. The changes include sample delivery and deposit in a temperature controlled hatch, automated tracking of sample handling, and LIMS - based interfacing for provision of audit trails on sample history. Increase in standardization of biobanking processes, rise in funding, and availability of centralized collections are some other major changes in biobanking operations that are anticipated to positively influence revenue growth.

Market Segmentation, Outlook & Viewpoint: Global Biobanks Market

Product Market Segmentation & Outlook (Revenue, USD Million, 2014 - 2025)

Biobanking Equipment

  
Temperature Control Systems
  
Freezers & Refrigerators
  
Cryogenic Storage Systems
  
Thawing Equipment
  
Incubators & Centrifuges
  
Alarms & Monitoring Systems
  
Accessories & Other Equipment

Biobanking Consumables

Laboratory Information Management Systems

Service Market Segmentation & Outlook (Revenue, USD Million, 2014 - 2025)

  
Biobanking & Repository
  
Lab processing
  
Qualification/ Validation
  
Cold Chain Logistics
  
Other Services

Biospecimen Type Market Segmentation & Outlook (Revenue, USD Million, 2014 - 2025)

Human Tissues

Organs

Stem Cells

  
Adult Stem Cells
  
Embryonic Stem Cells
  
IPS Cells
  
Other Stem Cells

Other Biospecimens

Biobank Type Market Segmentation & Outlook (Revenue, USD Million, 2014 - 2025)

Physical/Real

  
Tissue
  
Population - based
  
Genetic (DNA/RNA)
  
Disease - based

Virtual

Application Market Segmentation & Outlook (Revenue, USD Million, 2014 - 2025)

  
Therapeutics
  
Drug Discovery & Clinical Research
  
Clinical Diagnostics
  
Others

Key Players, Recent Developments & Regional Insights: Global Biobanks Market

A wide range of equipment are available for biobanking processes such as sample collection, preparation, analysis, storage, and transport. Equipment include freezers, cell separators, barcode readers, thawing equipment, and alarm and monitoring systems. Implementation of automation in biobanking workflows has created the need for information management systems in order to maintain registries of biosamples.

Laboratory Information Management Systems (LIMS) are implemented across various biobank workflows, including patient consent, sample collection, sample accession, storage, and distribution. However, their usage in the aforementioned workflows can only be achieved for new samples. For old samples, their usage is limited to data storage. Data integrity and system usability are major concerns that need to be checked prior to implementation of LIMS.

In 2017, a Biobank Economic Modeling Tool (BEMT), a tool offered by the Biorepository and Biospecimen Research Branch (BBRB) of National Cancer Institute, was used for conducting a survey, according to which, consumables accounted for about 15.0% of their total operating expenditure for biobanks. High cost of reagents and consumables for integrated use with equipment based on advanced technology, such as automated sample processing, are anticipated to drive demand for biobanking consumables.

Services Insights

Biobanking and biorepository services include services for storing, management, distribution, cryogenic preservation, and information handling. Biobanks are established and operated in compliance with regulatory standards to provide resources for in - depth study of diseases and aging - related mechanisms. High adoption of these services over the years and a large number of samples stored have enabled this segment to account for a large market share.

Increase in outsourcing of clinical trials and research - related workflows is anticipated to bolster demand for lab processing services. Lab processing services include DNA extraction and dilution from biosamples, plasma/serum isolation, sample plating, and sample retrieval.
In the process of sample transportation, compliance with local and federal regulations and adherence to standard operating procedures remains a crucial task. Stable temperature maintenance is a challenge when specimens are used as active bio - pharmacological ingredients for development of therapies.

Application Insights

Use of biosamples in therapeutics accounted for the largest revenue share in the biobanks market in 2017 owing to higher use of tissues and cells in transplantation and development of therapies. Rapid advances in biologic production in recent years has further contributed to increase in use of cryopreserved biosamples in therapeutic applications.

Availability of high - quality biological samples is very important for development of precision medicine. Precision medicine research involves comparison of properties of thousands of research biospecimens collected from both patients and healthy individuals. It aims to distinguish diagnostic and therapeutic values of individual patients. As a result, several pharmaceuticals and biotechnology companies operate or plan to operate their own biobanks.

Biospecimen Type Insights

Heterogeneity in types of biospecimens has resulted in classification of biobanks based on the types of cells stored. However, a majority of biospecimen stores are involved in storing more than two types of specimens. Solid tissues, serum/plasma, whole blood, peripheral blood, and bone marrow are the top specimens stored within biorepositories. This has allowed human tissue biospecimens to account for the largest share in 2017.

Technological advancements in cell acquisition and high potential applications of stem cells in regenerative medicine are driving stem cell banking at a lucrative pace. The surge in adoption of stem cell banking is primarily because of the need to preserve cellular characteristics and preventing deterioration and contamination for future stem cell usage in basic and translation research.

Higher usage in clinical treatments and easy accessibility has enabled adult stem cells to account for a major revenue share out of all stem cell types. Furthermore, usage of embryonic stem cells is limited due to ethical and legal issues over their use across the globe, as a consequence of variations in jurisdictions. In addition to this, iPSCs are used as a substitute to embryonic stem cells, which in turn, is expected to drive the iPS cell banking segment.

Biobank Type Insights

Hospital - based biorepositories use patient samples for future use in diagnostics and precision medicine. These can be used in diagnosis of conditions such as hypertension, atrial fibrillation or flutter, type II diabetes, sleep apnea, unspecified stomach pain, acute upper respiratory infections, pneumonia, bronchial asthma, cataract, and atherosclerotic heart disease.

This classification is based on confluence of certain criteria including type of specimen collected, group of donors, supporting organizations/ownership, intended use, and others. Virtual biobanking services are not involved in storing biospecimens, but provide a single point of access for a broad range of biospecimens. Key operating strategies of these banks include establishment of a well - connected network with biorepositories and end users. UCL Virtual Biobank, Specimen Central, BIOMARKAPD, and Northern Ireland Virtual Tissue Archive are some examples of virtual biobanking entities.

Regional Insights

North America dominated the global market in 2017 owing to presence of numerous biobanking organizations. Furthermore, new players have emerged in the region and are undertaking various strategies to address cost recovery - related issues.
European countries made a significant contribution in 2017 owing to presence of well - established network and infrastructure for processing, storage, and retrieval of biospecimens. EuroBioBank and BBMRI - ERIC are two large biobanking networks operating in Europe to support medical and research activities in this region.

Asia Pacific is poised to witness the fastest growth over the forecast period owing to increase in aggregate number of new biospecimens being deposited. Countries such as Japan, China, Korea, Thailand, India, Singapore, and Australia have their network of biobanks in the global market.

Biobanks Market Share Insights

Majority of biobanks are established with an aim to fulfill biosample resource - related needs of larger organizations. An increasing number of for - profit biorepositories is expected to boost competition in the coming years.

Some of the key participants in the market are Thermo Fisher Scientific, Inc.; Merck KGaA; Qiagen; Hamilton Company; VWR International, LLC; Tecan Trading AG.; Danaher; BioCision; Charles River; Lonza; Biovault; and STEMCELL Technologies Inc. These players are involved in development of temperature control and cryopreservation systems to support biobanking operations.
Furthermore, major players such as Thermo Fisher and Lonza have strengthened their market presence by extending their offerings to biobanking services such as sample processing, storage, analysis, and transportation.

Key Insights Covered: Global Biobanks Market

1. North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Biobanks industry.
2. Global major manufacturers operating situation (sales, revenue, growth rate and gross margin) of Biobanks industry.
3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Biobanks industry.
4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Biobanks industry.
5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Biobanks industry.

Research Methodology: Global Biobanks Market

  
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
  
Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
  
Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among other