Biobanking Industry Will Generate $22.7bn in 2018 Predicts New Study

Tuesday 6 May 2014, Amsterdam

A new report, available on ASDreports, forecasts the worldwide medical biobanking industry will gain revenues of $22.7 billion in 2018. That industry will generate $14.4 billion in 2014, according to Biobanking for Medicine: Technology, Industry and Market 2014-2024, published in March 2014.

The new study predicts that world biobanking industry will expand fast in the first half of the forecast period 2014 to 2024. That sales expansion will be driven by rising demand for biobanked samples for use by pharmaceutical companies in preclinical research. Also increasing harmonisation and networking among medical biobanks means more high quality human biological samples (HBS) exist for use in research studies, also promoting biobanking revenue growth.

Jennifer Taylor, a pharmaceutical industry analyst, said: “The biobanking industry lies in a high growth phase. Nearly two thirds of the world’s biobanks have been established in the past decade and, with the increasing establishment of biobank networks and infrastructure, access to and use of banked HBS increases. Biobanking changes approaches to drug target identification, drug discovery and development, and is vital in efforts towards personalised medicine. It’s also clear that human biological samples in biobanks are valuable, and more and more people recognise this. However, despite efforts to condense that industry, its market remains fragmented at present, in early 2014.

“The biobanking industry is vast and developing. Our definition also encompasses the stem cell banking market for future therapeutic use. That is a rapidly growing sector, driven by rising public awareness of the potential of stem cell treatments. Also, with the recent offering of adult stem cell banking services in addition to umbilical cord blood banking, there exists a wide user base for that industry’s products and services. The stem cell banking industry for therapeutic use experiences rapid growth, then – although it faces challenges, particularly in countries where such activities are restricted.”

The new investigation shows revenue forecasts to 2024 at world market, submarket and national level. It forecasts biobanking for research and for therapeutic uses in human medicine.

That study gives individual revenue predictions to 2024 for nine submarkets at world level:

• Biobanking for research
• Biobanking for therapeutic uses.

 
It also forecasts the number of samples stored in those two fields. And it gives biobanking revenue forecasting to 2024 by research application:

• Human tissues (also with sub-forecasts for public sector and commercial uses)
• Stem cells
• Other biological sample banking applications (inc. DNA and body fluids).

And that work predicts stem cell banking revenues to 2024 for therapeutic uses:

• Umbilical cord stem cell banking
• Adult stem cell banking.

It also forecasts the number of stem cell samples banked.


Furthermore that report analyses 12 leading national markets for biobanking, providing revenue forecasts to 2024 for each:

• United States (US)
• Japan
• Germany, France, UK, Italy, Spain (EU5) and Netherlands
• Brazil, Russia, India and China (BRIC nations).

It examines and compares leading companies in that industry. That work also discusses systems, software, consumables and services used by biobanks. The analysis gives 72 tables, 73 charts, and five interviews with authorities in that industry.