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Biobanks Market - Growth, Trends, COVID-19 Impact, and Forecast (2022 - 2027)

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  • 156 Pages
  • June 2022
  • Region: Global
  • Mordor Intelligence
  • ID: 4591639
The biobanks market was valued at USD 44,811.94 million in 2021, and it is expected to reach USD 62,010.56 million in 2027, registering a CAGR of 5.49% over the forecast period.

The COVID-19 pandemic has significantly impacted the biobanks market. Biobanking plays a critical role in the diagnosis and development of treatments for various diseases. There has been an urgent need for international efforts to develop vaccines and other therapies to control the COVID-19 pandemic. Patient sample collection, processing, and analysis are at the forefront of this emergency. For instance, as per a July 2021 update by the Government of Ireland, the Minister for Health announced a EUR 2 million investment in the National Irish COVID-19 Biobank. The National Irish COVID-19 Biobank (NICB) is an essential component of Ireland’s response to the COVID-19 pandemic. Furthermore, as per a February 2021 update, the Sample Collection Database was developed by the SciLifeLab Data Centre in collaboration with Biobank Sweden and the SciLifeLab and KAW National COVID-19 research program’s research area ‘Biobanks for COVID-19’. Thus, such initiatives indicate that the onset of the pandemic has led to an increased demand for biobank services and benefited the market worldwide.

Further, the major factors for the growth of the biobanks market include the innovations in regenerative medicine, the growing incidence of chronic diseases, advances in drug discovery and development, and R&D funding and investments by government and non-governmental organizations. Innovations in regenerative medicine are driving the market’s growth. Regenerative medicine through stem cell technology is one of the important treatments for diseases such as Alzheimer's, diabetes, cancer, and rare genetic diseases. Umbilical cord cells and other stem cells are preserved to benefit from the existing therapies. For instance, according to the 2020 report of the Alliance for Regenerative Medicine (ARM), at the end of 2020, there were about 1,100 gene, cell, and tissue-based therapeutic developers around the world, which is an increase of about 100 developers from 2019. These developers raised USD 19.9 billion in financing in 2020, while the previous record was USD 13.5 billion in 2018. Furthermore, as per the same source, at the end of 2020, there were about 1,220 ongoing clinical trials in the area of regenerative medicine, of which 152 were in phase 3. Moreover, it is expected that by 2025, the United States Food and Drug Administration (USFDA) and European Medical Agency (EMA) will approve 10-20 cell and gene therapies each year. Hence, this data shows the increased funding in the area of regenerative medicine and the anticipated increase in product approval, which collectively will contribute to the growth in the biobanks market, which is one of the essential parts of regenerative medicine development.

​Additionally, in July 2021, the NFLA and Sanford Health announced the construction of a biobank to support studies in treating sports-related injuries, brain health, and sports performance in the interest of medical research. The biobank’s role in advancing regenerative medicine will help scientists begin their investigations early on and accelerate research, considering active participation from NFLA members. Likewise, in March 2021, the agreements to acquire SSCB Swiss Stem Cells Biotech SA by Gaensel Energy Group Inc. were completed. SSCB permits the preservation of stem cells from adipose tissue, which have enormous potential in regenerative medicine. Such developments are anticipated to boost the market's growth over the forecast period.

Furthermore, growing R&D funding by government and non-government organizations will bolster the market's growth over the forecast period. For instance, Audubon Bioscience raised nearly USD 220,000 from over 440 investors in 2021 after launching a crowdfunding campaign on MicroVentures.com, an Austin, TX-based online equity crowdfunding platform. The crowdfunding campaign's success demonstrates the growing recognition of biobanking as a critical component of today's biomedical research advancements. In addition, in January 2022, the Swedish Childhood Tumor Biobank was allocated SEK 12 million as a strategic investment for whole-genome sequencing of tumor and blood samples that have not yet been analyzed in the sample collection. For 2022, the annual grant has been increased to SEK 19 million. A total of SEK 24 million has been allocated to the GMS Childhood Cancer project over three years. Similarly, in 2019/20, roughly 3.5% of the money invested by the Terry Fox Research Institute (TFRI) supported biobanking efforts in Canada. This added up to a total investment of USD 740,000. Such investments, coupled with rising awareness regarding the use of biobanks, are likely to impel the biobanks market's growth throughout the forecast period.

However, regulatory issues and cost constraints are expected to impede the market’s growth.

Key Market Trends

The Human Tissue Biobanking Segment is Expected to Hold Significant Market Share During the Forecast Period

By sample type, the human tissue biobanking segment is anticipated to hold a major market share. Human tissue biobanks are distinct from other organizations that accept and collect tissue and blood for direct patient care, such as organ or blood transplantation. These biobanks are specifically used for research purposes. An upsurge in disease research, especially rare diseases in humans, and advancements in regenerative medicine are fuelling the growth of the human tissue biobanking services segment.

The surge in the number of biobanks offering human tissue banking services is augmenting the segment’s growth. For instance, Newcastle University opened a new collection of blood samples and donated human tissue in December 2021, which could revolutionize attempts to cure uncommon malignancies. In October 2021, RareCan, a Hexham-based medical start-up dedicated to advancing research into the rarest forms of cancer, collaborated to create the ‘BioResource’. BioResource will store samples collected during surgery from patients with certain types of cancer and make them available to researchers worldwide to treat, prevent, and diagnose the diseases.

Moreover, in July 2021, Tissue Solutions Ltd., a virtual biobank based in the United Kingdom, was acquired by BioIVT, a prominent provider of research models and services for drug and diagnostic development. Tissue Solutions delivers high-quality human tissue and other biological materials to medical researchers for drug discovery, target identification and validation, assay development and validation, biomarker and companion diagnostic development, and biomarker and companion diagnostic development. This acquisition may improve the accessibility of human tissue biobanking services across the country, thereby facilitating the segment’s growth in the future.

Thus, these factors are expected to boost the segment’s growth during the forecast period.

North America Dominates the Market and is Expected to Continue the Trend During the Forecast Period

Within North America, the United States held the major share of the market. The major factors fuelling the market’s growth in the United States are the increasing burden of chronic diseases and the increasing focus on R&D activities. For instance, as per the American Cancer Society, in 2022, an estimated 1.9 million new cancer cases will be diagnosed in the United States and account for 609,360 cancer deaths. Since biobanks make it easier for researchers to get the volume, quality, and type of cancer tissue and data required to speed up their research, the growing cancer incidences may boost the R&D activities concerning cancer medications, thereby contributing to the market’s growth. Additionally, strategic developments undertaken by key players may contribute to the market’s growth. For instance, in February 2021, Cincinnati Children's Hospital Medical Center collaborated with Down Syndrome Achieves (DSA) to launch a research biobank, which serves as a central repository for biospecimens donated by individuals with Down syndrome and their immediate families.

Moreover, the North American market for biobanks is also driven by growing product launches, collaborations, and partnerships within the industry. For instance, in September 2021, STEMCELL Technologies announced the launch of human pluripotent stem cell (hPSC) characterization and banking services in partnership with WiCell. These services, offered through STEMCELL’s Contract Assay Services division, will provide researchers with comprehensive cell quality assessments and enable them to generate cell banks using standardized practices.

Hence, these factors are expected to drive the market’s growth in North America over the forecast period.

Competitive Landscape

The biobanks market is moderately consolidated. Some of the segments are dominated by a few major players, while the others are distributed among multiple players. The market players, including BioLifeSolutions Inc., Hamilton Company, Merck KGaA (Sigma-Aldrich Inc.), Thermo Fisher Scientific Inc., and VWR International LLC, are focusing on collaboration and partnership activities.

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Table of Contents

1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
4.1 Market Overview
4.2 Market Drivers
4.2.1 Innovations in Regenerative Medicine
4.2.2 Growing Incidences of Chronic Diseases
4.2.3 Advances in Drug Discovery and Development
4.2.4 R&D Funding and Investments by Government and Non-Governmental Organizations
4.3 Market Restraints
4.3.1 Regulatory Issues
4.3.2 Cost Constraints
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION (Market Size by Value - USD million)
5.1 Equipment
5.1.1 Cryogenic Storage Systems Refrigerators Ice Machines Freezers
5.1.2 Alarm Monitoring Systems
5.1.3 Other Equipment
5.2 Sample Type
5.2.1 Human Tissue Biobanking
5.2.2 Stem Cell Biobanking
5.2.3 Cord Banking
5.2.4 DNA/RNA Biobanking
5.2.5 Other Services
5.3 Application
5.3.1 Regenerative Medicine
5.3.2 Drug Discovery
5.3.3 Disease Research
5.4 Geography
5.4.1 North America United States Canada Mexico
5.4.2 Europe Germany United Kingdom France Italy Spain Rest of Europe
5.4.3 Asia-Pacific China Japan India Australia South Korea Rest of Asia-Pacific
5.4.4 Middle-East and Africa GCC South Africa Rest of Middle-East and Africa
5.4.5 South America Brazil Argentina Rest of South America
6.1 Company Profiles
6.1.1 Bio-Techne Corporation (Atlanta Biologicals Inc.)
6.1.2 Becton, Dickinson and Company
6.1.3 BioLifeSolutions Inc.
6.1.4 Chart Industries Inc.
6.1.5 Hamilton Company
6.1.7 Merck KGaA (Sigma-Aldrich Inc.)
6.1.8 STEMCELL Technologies Inc.
6.1.9 Thermo Fisher Scientific Inc.
6.1.10 Avantor (VWR International LLC)
6.1.11 Tecan Group (Tecan Trading AG)
6.1.12 Biovault Family
6.1.13 Precision Cellular Storage Ltd (Virgin Health Bank)



Companies Mentioned

A selection of companies mentioned in this report includes:

  • Bio-Techne Corporation (Atlanta Biologicals Inc.)
  • Becton, Dickinson and Company
  • BioLifeSolutions Inc.
  • Chart Industries Inc.
  • Hamilton Company
  • Merck KGaA (Sigma-Aldrich Inc.)
  • STEMCELL Technologies Inc.
  • Thermo Fisher Scientific Inc.
  • Avantor (VWR International LLC)
  • Tecan Group (Tecan Trading AG)
  • Biovault Family
  • Precision Cellular Storage Ltd (Virgin Health Bank)