Le Lézard
Classified in: Health, Science and technology
Subject: MRR

Global Biobanking Market Report 2024: Market Set to Surpass $75 Billion in 2024, Growing Demand for Umbilical Cord Blood Banking

DUBLIN, Feb. 28, 2024 /PRNewswire/ --The "Biobanking Market Report 2024-2034" has been added to ResearchAndMarkets.com's offering.



World revenue for the Biobanking Market is forecast to surpass US$75 billion in 2024, with strong revenue growth through to 2034. 

Growing Investments and Funding Projected to Boost Industry Growth

Biobanks are experiencing increased acknowledgment and support from global governments, research bodies, and financial institutions, leading to a surge in investment in these facilities. Notably, initiatives like the Biorepository and Precision Medicine Initiative Cohort Program, funded by the U.S. National Institutes of Health (NIH), seek to amass biological samples from over a million individuals to establish a comprehensive national research resource.

Concurrently, the European Commission has committed funding to the Biobanking and Biomolecular Resources Research Infrastructure (BBMRI), a pan-European facility focused on biobanking and biomolecular resources. This heightened attention and financial backing underscore the strategic importance of biobanks in advancing scientific research and precision medicine on a global scale.

Hight Cost of Equipment Likely to Challenge Industry Growth

The market's growth potential is anticipated to face limitations due to the substantial expenses associated with automated equipment. While cutting-edge technologies like advanced sample handling systems have the potential to enhance operational efficiency and elevate the quality of biobanking processes, their high price tags pose a considerable challenge, particularly for smaller biobanking enterprises or those with constrained financial capacities. Take, for instance, the expenditure involved in acquiring an automated storage system, which can vary based on its size and complexity.

The initial capital outlay for such systems can be substantial, ranging from tens of thousands to hundreds of thousands of dollars. Beyond the initial investment, ongoing considerations encompass maintenance and operational expenses, including software updates, repairs, and training. This cost factor serves as a strategic consideration for businesses evaluating the incorporation of automated equipment in their biobanking operations.

Key Market Dynamics

Market Driving Factors

Market Restraining Factors

Market Opportunities

Forecasts to 2034 and other analyses reveal commercial prospects

Segments Covered in the Report


Product and Service




In addition to the revenue predictions for the overall world market and segments, you will also find revenue forecasts for five regional and 22 leading national markets.

The report also includes profiles and for some of the leading companies in the Biobanking Market, 2024 to 2034, with a focus on this segment of these companies' operations.

Leading companies profiled in the report

In summary, the report provides you with the following knowledge:

For more information about this report visit https://www.researchandmarkets.com/r/mwwz5j

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Media Contact:

Research and Markets
Laura Wood, Senior Manager
[email protected]  
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg


SOURCE Research and Markets

These press releases may also interest you

at 12:30
The Melanoma Research Foundation (MRF) is thrilled to announce one of the first events in its annual Miles for Melanoma nationwide 5K program, bringing together local melanoma patients, care partners and thrivers. This year we will be hosting our...

at 07:28
BioArctic AB (publ) today announced that BioArctic AB and Eisai Co., Ltd., have entered into a research evaluation agreement regarding BAN2802, a potential new treatment combining BioArctic's proprietary BrainTransportertm technology with an...

at 07:00
LifeLabs workers from Orillia, Barrie, Collingwood, and Wasaga Beach will rally with community members and allies ahead of their imminent strike deadline. They stand firm in their demands for a fair contract that puts patients and workers before...

19 avr 2024
Remedium Healthcare Products is proud to announce the launch of NuVeria Labs' revolutionary Sacral Silicone Dressing, now available for purchase on Amazon, bringing advanced wound care solutions directly to consumers' doorsteps. Designed to address...

19 avr 2024
Getting specialty medications into...

19 avr 2024
Arthrex, a global leader in minimally invasive surgical technology, has once again taken home prestigious medals for product innovation at the 37th annual Edison Awards. "This product, along with our other innovations,...

News published on and distributed by: