The biobanking market share is expected to witness significant growth in the coming years. Biobanks play a crucial role in the collection, storage, and management of biological samples and associated data, which are essential for research and development activities in various fields such as genomics, personalized medicine, and drug discovery.

One of the key factors driving the growth of the biobanking market is the increasing demand for personalized medicine. With advancements in genomics and molecular biology, there is a growing need to understand individual variations in genes, proteins, and other biomarkers to develop targeted therapies. Biobanks provide researchers with access to large-scale collections of well-characterized samples that can be used for studying diseases, identifying biomarkers, and developing new treatments.

Moreover, the rising prevalence of chronic diseases such as cancer, cardiovascular disorders, and neurological conditions has further fueled the demand for biobanking services. These diseases require extensive research to understand their underlying mechanisms and develop effective treatments. Biobanks enable researchers to access By facilitating collaboration and data sharing among researchers, biobanks play a crucial role in accelerating medical advancements and improving patient outcomes.

The Biobanking Market Size was valued at USD 48.65 billion in 2022, and is expected to reach USD 86.77 billion by 2030 and grow at a CAGR of 7.5% over the forecast period 2023-2030.

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KEY MARKET SEGMENTATION:

By Specimen type

• Solid Tissue
• Nucleic Acid
• Cell Lines
• Blood Products
• Others

By Type

• Disease-oriented
• Population

By Service

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

By Application type

• Research
• Therapeutic

By End User

• Pharma & Biotech Companies
• Academic Institutions

Some of the major key players are as follows: Avantor, BioCision, Becton, Dickinson and Company (BD), Danaher Corporation, Hamilton Company, Merck KGaA, QIAGEN, Thermo Fisher Scientific, Inc., Tecan Trading AG., Taylor-Wharton and Other Players.

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