The biobanking market has emerged as a cornerstone of modern biomedical research, transforming how scientists approach personalized medicine, drug discovery, and disease understanding.
As biological repositories that collect, process, store, and distribute high-quality biospecimens—including blood, tissues, DNA, and stem cells—biobanks have become indispensable for advancing healthcare innovation.
Global Biobanking Market Overview
The global biobanking market has experienced substantial growth. Market valuations vary across research sources, but all point to strong expansion. The market was valued between USD 64.3 billion to USD 87.75 billion in 2024, with projections indicating growth to USD 101.1 billion to USD 213.53 billion by 2033-2034. The compound annual growth rate (CAGR) ranges from 5.2% to 9.3%, reflecting robust demand and investment globally.
This growth is fueled by rising prevalence of chronic diseases, increasing investments in genomic research and personalized medicine, advancements in automated storage systems and digital tracking, and growing collaboration between research institutions and pharmaceutical companies.
North America currently maintains the largest market share, accounting for 34-40% of global revenue in 2024. Europe holds 35-39% market share, benefiting from strong public participation and major research infrastructures like BBMRI. However, the Asia-Pacific region is emerging as the fastest-growing market, with projected CAGRs of 9.1-11.1% through 2034.
The
China Biobanking Market: A Rising Powerhouse
China has emerged as a pivotal player in the global biobanking ecosystem. The Chinese biobank market generated revenue of USD 2.10-2.75 billion in 2024 and is projected to reach USD 4.6-5.19 billion by 2030-2031, representing a remarkable CAGR of 9.1-14.20%, the fastest growth rate among major markets. In 2024, China accounted for approximately 23.4% of the global biobank market.
Strategic Initiatives: China's success is underpinned by the Healthy China 2030 blueprint, mandatory domestic data retention rules, and aggressive provincial grants enabling hospital networks to build high-throughput, automated cryostorage hubs. Major biobanks include the China National GeneBank and Shanghai Zhangjiang Biobank.
Key Advantages: China's vast population provides abundant clinical resources and genetic diversity. Disease-oriented biobanks support translational medicine programs, such as the Immortalized Cell Bank of Different Chinese Ethnic Groups (1994) and the Bank of Chinese Genetic Resources (2003).
Key Trends Shaping the Market
Digital Transformation: Virtual biobanks are eliminating geographical barriers. Verisense Health launched the Verisense Digital Biobank in August 2024 with health data from over one million people.
Precision Medicine: Large-scale biobanks like UK Biobank and China Kadoorie Biobank are setting new standards. In January 2025, Illumina announced a pilot proteomics program to analyze 50,000 UK Biobank samples.
Artificial Intelligence: AI-driven tools enable faster pattern identification and biomarker discovery. Thermo Fisher Scientific launched advanced LIMS with AI-driven sample tracking in January 2025.
Sustainability: Green lab solutions and eco-friendly storage are being integrated into biobank operations.
Market Segmentation
By Product: Biobanking equipment dominated with 78% revenue share in 2024. Laboratory Information Management Systems (LIMS) segment expected to grow at fastest CAGR of 10.5%.
By Specimen: Blood products represented the largest segment (36% share), projected to grow at 6.5% CAGR. Human tissues, cell lines, and nucleic acids serve specialized research needs.
By Application: Therapeutics dominated in 2024. Clinical diagnostics represents the fastest-growing segment through 2034.
By End User: Pharmaceutical and biotechnology companies held the largest share. CROs and CMOs expected to experience fastest growth.
Challenges and Considerations
The market faces several challenges: high operational costs limiting adoption in developing regions, ethical and legal issues related to data privacy and consent, lack of global standardization in sample collection, regulatory hurdles delaying international collaborations, and long-term funding uncertainty for public biobanks.
Recent Industry Developments
July 2025: German Biobank Node joined Network of University Medicine following NUM 3.0 approval.
June 2025: University of Limerick launched Ireland's first regional cancer biobank.
April 2025: BioIVT unveiled technique to create tissue blocks from laboratory-replicated FNAs.
February 2025: Amrita Hospital launched India's first retina biobank.
November 2024: Columbia University launched BRIDGE facility to store up to 12 million patient samples.
Future Outlook
The biobanking market's future appears exceptionally promising. Multiple growth drivers include expanding biomedical research demand, public-private partnerships, technological innovations in automation and AI, and regional expansion opportunities in Asia-Pacific.
The UK Biobank's Global Researcher Access Fund (April 2024) promotes inclusive collaboration. Korea's BioBankNet program and European initiatives are setting new standards for epidemiological research.
Conclusion
The biobanking market stands at a pivotal moment, poised for substantial growth driven by technological innovation, increasing research investments, and the global shift toward personalized medicine. From its current valuation, the market is projected to more than double by 2033-2034.
The China biobanking market exemplifies the transformative potential of strategic investment. With the fastest projected growth rate globally and substantial infrastructure expansion, China is transitioning from follower to leader in biomedical research infrastructure.
As biobanks continue to advance precision medicine, support drug discovery, and enable breakthrough research, their role in shaping healthcare's future becomes increasingly central. For researchers, healthcare providers, pharmaceutical companies, and policymakers, engagement with the biobanking ecosystem represents an imperative for advancing human health in the 21st century.