Biobanks Market Size, Share & Trends Report

Biobanks Market Size, Share & Trends Analysis Report By Product (LIMS, Biobanking Equipment), Biospecimen Type (Organs, Stem Cells), Biobank Type (Real, Virtual), Service, Application, Segment Forecasts, 2024 - 2030

  • Report ID: GVR-2-68038-564-9
  • Number of Pages: 185
  • Format: Electronic (PDF)
  • Historical Range: 2018 - 2022
  • Industry: Healthcare

Research Methodology

A three-pronged approach was followed for deducing the biobanks market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for biobanks market to gather the most reliable and current information possible.

  • We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
  • We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
  • We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
  • We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
  • We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of biobanks market data depending on the type of information we’re trying to uncover in our research.

  • Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

  • Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

  • Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

  • Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

  • Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

  • Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

  • This step also entails the finalization of the report scope and data representation pattern.

  • Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Biobanks Market Categorization:

The biobanks market was categorized into eight segments, namely product (Biobanking Equipment, Biobanking Consumables, Laboratory Information Management Systems), service (Biobanking & Repository, Lab Processing, Qualification/ Validation, Cold Chain Logistics), biospecimen type (Human Tissues, Human Organs, Stem Cells), biobanks type (Physical/Real Biobanks, Virtual Biobanks), application (Therapeutics, Drug Discovery & Clinical Research, Clinical Diagnostics), ownership (University Owned, National/Regional Agencies Owned, Non-profit Organizations Owned, Private Organization Owned), end-use (Pharmaceutical & Biotechnology Companies, CROs & CMOs, Academic & Research Institutes, Hospitals), and regions (North America, Europe, Asia Pacific, Latin America, Middle East & Africa).

Segment Market Methodology:

The biobanks market was segmented into product, service, biospecimen type, biobanks type, application, ownership, end-use, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

  • Demand estimation of each product across countries/regions summed up to from the total market.

  • Variable analysis for demand forecast.

  • Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

  • Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

  • Used extensively for new product forecasting or analyzing penetration levels.

  • Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

  • Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

  • This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The biobanks market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into twenty-three countries, namely, the U.S.; Canada; Germany; the UK.; France; Italy; Spain; Denmark; Sweden; Norway; China; Japan; India; South Korea; Australia; Brazil; Mexico; Argentina; South Africa; Saudi Arabia; UAE; and Kuwait.

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Biobanks market companies & financials:

The biobanks market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

  • Thermo Fisher Scientific, Inc. is a global biotechnology company that provides solutions in the diagnostics, life sciences, analytical instruments, and laboratory products market segments. It offers services to various industries, such as biotechnology, pharmaceutical, healthcare, industrial and applied sciences, food and beverage, and forensics, through its brands subsidiary brands. Fisher BioServices is a brand of Thermo Fisher Scientific Inc. that provides biospecimens and biologics management solutions. Its services include biobanking, laboratory processing, kit production, and cold chain logistics. The company recently installed a LiCONiC Semiautomated Biobank (SAB) to manage the utilization demands of samples and offices in various locations including Franklin, MA, Basel, and Switzerland.

  • The Merck Group, known as EMD in the U.S. and Canada, is a global company that operates in the life sciences, healthcare, and electronics markets. The life science business segment operates as MilliporeSigma, a combination of the Millipore corporation and Sigma Aldrich which were acquired in 2010 and 2015, respectively. BioReliance offers pharma and biopharma manufacturing and testing solutions as a CDMO. Sigma-Aldrich Co. LLC operates through three business units: research, SAFC commercials, and applied business, providing over 200,000 products and tools in categories such as analytical, chromatography, spectroscopy, and chemical synthesis.

  • QIAGEN is a key player in the assay technologies market for molecular diagnostics, pharmaceutical, academic, and applied testing. Its product portfolio includes areas of NGS, molecular diagnostics, informatics & data, food & safety testing, oncology, human ID & forensics, and life sciences research. PreAnalytiX GmbH, a joint venture between QIAGEN and Becton, Dickinson and Company (BD), was established in 1999 in Switzerland. The company focuses on the manufacturing and marketing of products for the collection, stabilization, and purification of biospecimens. Its target end users are pharmaceutical and biotech companies, clinical laboratories, academic research organizations, and healthcare institutes.

  • Hamilton Company develops & manufactures sample management systems, automated liquid handling workstations, automated storage solutions, process analytics, and robotics. It also provides laboratory products such as HPLC columns, syringes & needles, pH sensors, OEM solutions, precision measurement devices, and laboratory automation technology for the scientific industry worldwide. Its other headquarters are located in Bonaduz, Switzerland, and Franklin, Massachusetts.

  • Tecan Trading AG offers laboratory instruments and solutions for various applications, such as forensics, clinical diagnostics, genomics, & pharmaceuticals. It develops and commercializes automation and detection products for life sciences laboratories and operates through life sciences, diagnostics, and partnering. It has manufacturing and R&D facilities in North America, Asia, and Europe, and a sales distribution network spanning 70 countries.

  • Danaher Corporation operates in three business segments: diagnostics, life sciences, and environmental & applied solutions. These businesses are unified in their aim to provide products and solutions for disease treatment and research. The diagnostics platform offers reagents, instruments, software, consumables, and services for critical care settings such as hospitals, physician offices, reference laboratories, and others to aid in disease diagnosis and patient management. The life sciences platform provides research tools for scientists to understand disease causes, test new drugs and vaccines, and identify new therapies.

  • BD specializes in microbiology solutions, genomics, drug delivery systems, & infection prevention and possesses 20 brands with various integrated solutions in healthcare. It also offers clinical and research tools, such as monoclonal antibodies, FACS, analyzers, gene expression, and cell culture media through its Biosciences unit, serving biopharmaceutical manufacturers. In addition, it is involved in the development of NGS libraries for research. The company operates globally in over 190 countries, including North America, Latin America, Germany, the Middle East & Africa, and Asia Pacific.

  • BioCision, LLC offers products and solutions for life sciences research, including systems & accessories for temperature stability of biosamples, biomaterials, and temperature-sensitive therapeutics. Its customer base consists of biopharmaceutical companies, academic and governmental institutions, hospitals, & medical device manufacturers for research applications, such as cell cryopreservation, virus cryopreservation, icefree sample freezing & cooling, incubating & thawing, and snap freezing.

  • Taylor-Wharton specializes in cryogenic storage and transport solutions, including regasification equipment, for industries such as life sciences, industrial gas, & LNG. It offers a comprehensive cold chain supply solution and has a global presence with offices in Belgium, Malaysia, Australia, China, Poland, and UAE, covering engineering, production, sales, & distribution.

  • Charles River Laboratories provides preclinical and clinical laboratory services, drug discovery and assessment, and process manufacturing to the pharmaceutical, biotech, and medical device industries. Its portfolio includes biomarkers, cellular therapies, biosimilars, and vaccines, and operates in the segments of Research Models & Services, Discovery & Safety Assessment, and Manufacturing Solutions. It offers R&D outsourcing and testing services and supplies biomedical products, operating in 110 locations across 20 countries. With six key acquisitions since 2020, the company has expanded its cell and gene therapy capabilities.

Value chain-based sizing & forecasting

Supply Side Estimates

  • Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

  • Segment revenue determination via variable analysis and penetration modeling.

  • Competitive benchmarking to identify market leaders and their collective revenue shares.

  • Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

  • Identifying parent markets and ancillary markets

  • Segment penetration analysis to obtain pertinent

  • revenue/volume

  • Heuristic forecasting with the help of subject matter experts

  • Forecasting via variable analysis

Biobanks Market Report Objectives:

  • Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

  • Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

  • Understanding market estimates and forecasts (with the base year as 2022, historic information from 2018 to 2023, and forecast from 2024 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Biobanks Market Report Assumptions:

  • The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

  • The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

  • We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

  • All market estimates and forecasts have been validated through primary interviews with the key industry participants.

  • Inflation has not been accounted for to estimate and forecast the market.

  • Numbers may not add up due to rounding off.

  • Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

  • Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

  • Latin America includes Central American countries and the South American continent

  • Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

  • Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

  • Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.

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