The global biobanking market is projected to reach USD 5.0 billion by 2028 from USD 2.9 billion in 2023, at a CAGR of 11.4% during the forecast period of 2023 to 2028. The growth of this market is majorly driven by the growing investment by private companies. In the private sector, biotech companies are investing heavily in regenerative medicine research and are relying on biobanks to provide the biological specimens needed for their research.
The global biobanking market is a consolidated market, with Thermo Fisher Scientific, Inc. (US), PHC Holdings Corporation (Japan), Becton, Dickinson and Company (US), QIAGEN N.V. (Germany), Merck KGaA (Germany) together accounting for ~50–60% of the global market.
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Thermo Fisher Scientific (US)
Thermo Fisher Scientific is a provider of scientific research and laboratory equipment, analytical instruments, and other laboratory services. The company operates through the Life Sciences Solutions, Analytical Instruments, Specialty Diagnostics, and Laboratory Products and Biopharma Services segments. Thermo Fisher Scientific has a strong presence in the biobanking industry, offering a range of products and services that support biobanking operations, such as the preservation, storage, and management of biological specimens. The company offers biobanking products through its Laboratory Products and Biopharma Services segments.
Thermo Fisher operates in over 50 countries across North America, Europe, Asia, and Latin America and serves more than 400,000 customers in pharmaceutical and biotechnology companies, hospitals and clinical diagnostic laboratories, universities, research institutes, government agencies, and environmental and industrial quality & process control settings. Some of its major subsidiaries include Laboratory Management Systems, Inc. (US), Thermo EGS Gauging LLC (US), Thermo Fisher Scientific (China) Co., Ltd., Thermo Fisher Scientific (Hong Kong) Limited (China), Fisher Clinical Services Limited Liability Company (Russia), Fisher Clinical Services Japan K.K., and Thermo Fisher Scientific C.V. (Netherlands).
PHC Holdings Corporation (Japan)
The company develops and manufactures medical equipment for diabetes management, diagnostics, life sciences, and healthcare services. The company provides equipment and services for various aspects of scientific research conducted in facilities, including medical institutes, universities, and pharmaceutical companies. PHC Holdings Corporation operates through three segments—Diabetes Management, Healthcare Solutions, and Diagnostics and Life Sciences. The company offers biobanking products such as freezers, refrigerators, and incubators through the Diagnostics and Life Sciences segment. The company offers diagnostics and life sciences products through two subsidiaries, namely, Epredia Holdings Ltd. (US) and PHCbi (US).
PHC Holdings Corporation has 90 subsidiary companies worldwide and offers products in more than 125 countries. Some of its major subsidiaries are PHC Corporation (Japan), Ascensia Diabetes Care Holdings AG (Switzerland), Epredia Holdings Ltd. (US), and LSI Medience Corporation (Japan).
Becton, Dickinson and Company (US)
It is a global medical technology company that manufactures and sells medical devices, instruments, systems, and reagents. BD operates through three business segments: BD Medical, BD Life Sciences, and BD Interventional. BD Life Sciences operates in three units: Preanalytical Systems, Diagnostic Systems, and Biosciences. BD Life Sciences offers a wide range of products for life science research, such as fluorescence-activated cell sorters and analyzers, cell culture media and supplements for biopharmaceutical manufacturing, monoclonal antibodies and kits for cell analysis, and reagent systems for life science research.
BD operates across the Asia Pacific, Europe, Latin America, and North America. Some of its major subsidiaries are BD Biosciences Pharmingen (US), BD Biosciences Discovery Labware (US), BD Biosciences (Canada), Cell Analysis Systems, Inc. (US), GenCell Biosystems Ltd. (Ireland), and Becton Dickinson GmbH (Germany).
Biobanking Market by Product & Service (Equipment, Consumable, Services, Software), Sample Type (Blood, Tissue, Nucleic Acids, Cell lines), Ownership, Application (Regenerative Medicine, Life Science, Clinical Research), End User - Global Forecast to 2028
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