Biobanking Market Size

Biobanking Market size was over USD 58.78 billion in 2024 and is projected to cross USD 165.2 billion by the end of 2037, witnessing more than 8.2% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of biobanking is estimated at USD 62.68 billion.

The growth of the market is primarily attributed to the significant propagation in the biotechnology sector across the globe. The biotechnology sector is a science-driven industry that creates healthcare products by using molecular biology and living organisms. For instance, the biotechnology sector in India alone is expected to reach approximately USD 81 billion in 2022, to reach nearly USD 152 billion by 2025, and USD 310 billion by 2030. Furthermore, the proliferation of genomics research activities for various diseases study is another significant factor that is driving the growth of the global biobanking market during the projected period.

Biobanks assist in the development of multi-omics biobanks, in which insights from genomes, proteomics, and metabolomics are linked with radiomic data to produce a fresh and personalized technique for disease treatment. The implementation of big data and AI have been transforming the array of biobanks for the more advanced development of precision medicine. For instance, the purpose of precision medicine is to deliver clinicians the ability to determine the best course of action for a patient effectively, and accurately. The precision medicine eco-system, which is constantly evolving, is the answer to the issue. Precision medicine emphasizes the significance of integrating molecular profiling with well-established clinical index values to develop diagnostic, predictive, and therapeutic approaches customized to the requirements of each patient. For the precision medicine ecosystem to be used to its full potential, data must be properly interpreted. The best course of action to be taken for each unique patient group is determined by the precision medicine ecosystem's combination of genomic and clinical data. Moreover, increasing advancement in orthopedic procedures implying stem cells is also anticipated to fuel up the market growth of the global biobanking market over the forecast period.