Biobanking Market Size Expected to Hit US$ 89.5 Billion, at 6.6% CAGR | Fact.MR


Global biobanking market to be driven by increasing use of biospecimens in drug development processes. Get more detailed insights in this Fact.MR market study.

Rockville, MD, Aug. 08, 2023 (GLOBE NEWSWIRE) — According to the new market research report, titled, “Biobanking Market Analysis By Storage (Manual Biobanking, Automatic Biobanking), By Application (Therapeutics, Clinical Diagnostics, Drug Discovery & Development), By Biospecimen (Blood Products, Human Tissues, Cell Lines, Nucleic Acids), By Product (Biobanking Equipment, Biobanking Incubators & Centrifuges, Biobanking Alarms & Monitoring Systems, Biobanking Accessories & Other Equipment, Biobanking Consumables) and Region – Global Market Insights 2023 to 2033 ” published by Fact.MR, the global biobanking industry is climbing at a healthy 6.6% CAGR, to attain a revenue valuation of US$ 89.5 billion by the end of the forecast period (2023 to 2033). China, the United Kingdom, and the United States are the top markets for biobanking companies to keep an eye out for in the future.

Download Free Sample Copy of This Report:


Biobanking plays a pivotal role in enhancing biomedical and translational research, by the stocking and preservation of biological samples, such as blood, tissues, and nucleic acids, which are then made available for usage in research to determine disease-relevant biomarkers; this is later used for diagnosis, prognosis, and foreseeing drug responses. An advance in the number of research activities in this section outlines a prominent driver for the market.

Europe and Asia Pacific are projected to offer highly lucrative growth opportunities for established as well as incoming biobanking providers in the future. The aforementioned can be attributed to the increasing patient pool and rising healthcare expenditure in both regions.

Key Takeaways from Market Study

  • The global biobanking market stands at a valuation of US$ 46.8 billion in 2023.
  • Demand for biobanking is projected to expand at a CAGR of 6.6% from 2023 to 2033.
  • The biobanking market is anticipated to reach a size of US$ 89.5 billion by 2033.
  • Surging prevalence of chronic disorders, increasing investments in medical R&D, growing popularity of biobanks, and rising adoption of gene and stem cell therapies are prime market growth drivers.
  • Legal and ethical concerns associated with biobanking and high cost of biobank operations are prime market restraints.
  • Europe is estimated to maintain its position as a highly rewarding regional market throughout the forecast period.  
  • Demand for biobanking services for therapeutic applications is projected to exceed expectations through 2033.

“Biobanking companies should focus on decreasing the operational costs of biobanks to unlock the full revenue generation potential,” says a Fact.MR analyst

Winning Strategy

Leading biobanking manufacturers are continually focusing on expanding their business potential to new applications and regions through collaborations, partnerships, acquisitions, and mergers. Companies should also focus on solving the ethical and legal issues that plague the biobanking space to unlock the full potential of the market going forward.

This elaborate biobanking market study by Fact.MR, a market research and competitive intelligence provider offers an in-depth analysis of all the strategies that are being adopted by renowned as well as new biobanking providers.

Get Customization on this Report for Specific Research Solutions:

More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the global biobanking market, presenting historical demand data (2018 to 2022) and forecast statistics for the period (2023 to 2033).

The study divulges essential Analysis of Biobanking Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more.

Explore More Related Studies Published by Fact.MR Research: 

Biomarkers Market Analysis By Disease Type (Cardiovascular Diseases, Cancer, Neurological Diseases, Immunological Diseases), By Type (Safety, Efficacy, Validation Biomarkers), By Application (Diagnostics, Drug Discovery & Development, Personalized Medicines & Other Applications) & By Region – Global Market Insights 2022-2032

Home Diagnostics Market Analysis By Test Type (Glucose Monitoring, Pregnancy Test, HIV Test Kits, Ovulation Predictor Test Kits, Cholesterol Detection Test Kits, Drug of Abuse Test Kits, Others), By Form – Global Market Insights 2020 to 2030

Drug Discovery Services Market Analysis by Process (Target Selection, Target Validation, Hit-To-Lead Identification), by Type (Medicinal Chemistry, Biology Services, Pharmacokinetics), by Drug Type (Small Molecules and Biologics) by Therapeutic Area, by Region – Global Market Insights 2022-2032

Fact.MR’s Domain Knowledge in Healthcare

Our healthcare consulting team guides organizations at each step of their business strategy by helping you understand how the latest influencers account for operational and strategic transformation in the healthcare sector. Our expertise in recognizing the challenges and trends impacting the global healthcare industry provides indispensable insights and support – encasing a strategic perspective that helps you identify critical issues and devise appropriate solutions.

Follow Us: LinkedIn | Twitter | YouTube

CONTACT: US Sales Office 11140 Rockville Pike Suite 400 Rockville, MD 20852 United States Tel: +1 (628) 251-1583, +353-1-4434-232 (D) Sales Team: [email protected]

Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. takes no editorial responsibility for the same.