Biobanking Equipment Market, By Product (Equipment, Consumables, Software, and Services), By Sample Type (Blood Products, Human Tissues, Umbilical cord blood stem cells, DNA, and Cell Lines), By Application (Regenerative Medicine, Drug Discovery & Clinical Research, and Diagnostics), By End User (Pharmaceutical Companies, Biobanks, Hospitals, and Contract Research Organizations), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)

Published In : Dec 2023

Code : CMI2365

Pages :170

Formats :

Excel and PDF

Industry : Medical Devices

Biobanking Equipment MarketSize and Trends

The biobanking equipment market size is expected to reach US$ 6.34 Bn by 2030, from US$ 2.98 Bn in 2023, exhibiting a compound annual growth rate (CAGR) of 11.4% during the forecast period. Biobanking is referred to structured collections of biological samples, and associated data that are stored for research purpose in future. The biobanks typically handle human biospecimens such as blood, tissue, and urine. They are established within academic medical or research institutions, pharmaceuticals or biotechnological companies or as standalone organizations. Biobanks can be disease-oriented or population-based and they can contain a variety of samples such as blood, enzymes, organ tissue, urine, deoxyribonucleic acid (DNA), ribonucleic acid (RNA), and cell lines.

Biobanking Equipment Market Trends:

Development of automated biobanking equipment: Growing demand for personalized medicine and precision diagnostics is driving significant growth in biomedical research and development activities. As the volume and complexity of biobank samples and associated data increases, there is a growing need for automated and high-throughput biobanking equipment that can efficiently process, store, and manage large volumes of samples and information. Automated systems allow for increased standardization, traceability, and scalability as compared to manual processes. Laboratories and biobanks are increasingly automating routine tasks such as sample accessioning, processing, aliquoting, storage, and retrieval to improve efficiency and minimize human errors. In 2022, according to the American Type Culture Collection (ATCC) Annual Report, the American Type Culture Collection invested US$15 million to build a new automated biorepository with robotic arms and automated storage systems that is capable of holding over 5 million frozen biomaterials. This underscores how automated technology enables expansion of biobanking operations to satisfy growing sample demand from pharmaceutical and diagnostic companies that is involved in precision drug development and clinical testing. The trend of increased automation in turn drives higher demand for specialized biobanking equipment in the coming years.