Biobanking Market Size, Share, Growth, Trends, and Global Industry Analysis: By Product Type (Equipment (Incubators, Centrifuges, Alarm and Monitoring Systems, Temperature Control Systems, Others), Consumables), By Sample Type (Biological Fluids, Human Waste Products, Blood Products, Human Tissues, Cell Lines, Nucleic Acids), By Application (Therapeutic Applications, Research Applications, Clinical Trials), By End-user (Pharmaceutical and Biopharmaceutical Companies, Clinical Research Organizations, Research Institutes, Others) and Region Forecast 2020-2031

Biobanking Market size was valued at US$ 43.8 billion in 2023 and is poised to grow at a CAGR of 6.3% from 2024-2030. Biological samples are kept in biobanks, a form of bio-repository, for use in research. Biobanks have grown to be a valuable tool for medical research, supporting a variety of modern fields like genomics and personalized medicine. Researchers may have access to data that represents a huge number of people through biobanks. Samples from biobanks and data derived from those samples are frequently used for research purposes by several researchers. Biological materials from humans, such as plasma, DNA that has been processed, blood, saliva, and other biospecimens, are stored, distributed, and collected in biobanks. The patient's personal information is kept on file with the assistance of biobanks. We require the proper atmosphere for maintaining the biobanks for keeping the biological resources. These samples and data are employed in the diagnosis of the diseases and the origins of such ailments. One such example is the association between single-nucleotide polymorphism and various diseases. Each sample's registrations for entering and leaving the systems are kept centrally, typically on a computer system that can be regularly backed up.

Key Developments:  

• In Mar 2022, Centogene N.V. expanded its collaboration agreement with Pfizer Inc. The initial agreement, which gave Pfizer access to relevant data from CENTOGENE's Bio/Databank, was signed in 2019 with the goal of accelerating the discovery and validation of novel genetic targets as candidates for the development of new medicines for rare diseases. A new collaborative research initiative has been launched, with the goal of validating rare genetic origins of neurodegenerative illnesses as prospective therapeutic targets.  
• In Sept 2021, STEMCELL Technologies collaborated with WiCell and launched human pluripotent stem cell characterization and banking services. The new services complement STEMCELL's existing line of pluripotent stem cell research products, which includes mTeSR Plus and mTeSR1, the world's most commonly published feeder-free hPSC maintenance medium.