U.S. Biobanking Market - Databook 2025 to 2034

The U.S. biobanking market size was calculated at USD 23.15 billion in 2024 and is predicted to attain around USD 49.26 billion by 2034, expanding at a CAGR of 7.91% from 2025 to 2034.

Highlights of the U.S. Biobanking Market

• By product, the equipment segment underwent notable growth in the market during 2024.
• By product, the laboratory information management system (LIMS) segment is anticipated to expand rapidly.
• By service, the biobanking & repository service segment experienced significant expansion in the market.
• By service, the lab processing segment is expected to emerge with notable growth during the forecast period.
• By biospecimen type, the human tissues segment saw strong growth during the studied period.
• By biospecimen type, the human tissues segment is expected to see notable performance in growth between 2025–2034.
• By biobank, the physical biobanks showed substantial gains in the market.
• By biobank, the virtual biobanks segment is set to experience the most robust growth across the market.
• By application, the drug discovery & clinical research segment showed noteworthy growth in the market.
• By application, the herapeutics segment is expected to see relatively strong growth during the forecast period of 2025 to 2034.
• By type of biobanking, the disease-oriented biobanks segment saw a surge in market performance.
• By type of biobanking, the population-based biobanks segment is anticipated to demonstrate steady upward momentum during the forecast period.
• By ownership, the national/regional agency segment achieved considerable growth within the market.
• By ownership, the non-profit organization segment is likely to experience a favorable growth trend during the forecast period between 2025 and 2034.
• By storage, the manual storage segment saw prominent growth in the market.
• By storage, the automated storage segment is positioned to show promising growth in the coming years.

Industry Valuation and Growth Rate Projection

U.S. Biobanking refers to the process of collecting, storing, and managing biological samples for research, diagnostic, and therapeutic purposes. Biobanking is all set to transform; along came new technologies such as automation and data analytics, a phenomenon that birthed digital biobanking. As healthcare and research-led institutions turn their sights on precision medicine, the biobank is gaining importance in biomedical research and personalized treatment. Growing incidences of chronic and lifestyle-oriented diseases have increased the revenues of quality biospecimens, while pharmaceutical companies are using biobanks in greater frequency for drug discovery and development. With increasing interest in genomic studies and regenerative medicine, the scope of opportunities for biobanking is extended, with cord blood stem cell preservation continuing to add to the heterogeneity of samples being stored in biobanks. Government and various private stakeholders are coming with investments in expansion for biobanking and for promoting cutting-edge medical research.

Market Trends

• Application Diversification: Expanding into cosmetics, pharmaceuticals, and other sectors for animal-free varieties.
• Technological Advancements: AI and machine learning aided fast-tracked strain development and optimization.
• Increasing Ethical Consumption: More consumer preference for sustainable, cruelty-free, and plant-based options.
• Automation via AI: Enhanced fermentation cycle efficiency and reduced labor requirements and errors.
• Supporting Ecosystem: Government, private investments, and a changing regulatory landscape foster innovation and adoption.

Market Restraints:

• High Capital Cost: Costly bioreactors, specific equipment, and complex processing.
• Regulatory Complexities: Different and lengthy approval processes hinder market expansion and product rollout on a global scale.
• Poor Consumer Awareness: Low-level understanding and skepticism against bioengineered ingredients hamper acceptance.
• Issues of Scalability: Hinder production upscale while maintaining cost efficiency to keep the application high.
• Fierce Traditional Competition: Supply chains with well-established and traditional products offered at relatively low prices hinder market penetration.

Opportunities:

• Making Plant-Based Proteins: With increasing consumer preferences for animal-free proteins.
• Environment-Friendly Ingredient Generation: This is an alternative to resource-intensive agriculture.
• Price-Wise Through AI: Commodity-wise price can be sold using AI and automation.
• Regulatory Winds at the Back: Supportive policies can help promote adoption, and their recognition by governments will surely go a long way.
• Innovation at Speed: Around focused R&D efforts, AI-based innovations can bloom across sectors.

Recent Developments in the U.S. Biobanking Market:

• In October 2024, NABL launches the Biobanking Accreditation Programme, aligning with ISO 20387:2018, marking a significant milestone for India's biobanking sector, with attendance from QCI and NABL.
• In December 2024, India launches the first-ever diabetes biobank in Chennai, enhancing understanding, research, and treatment of the disease, a collaborative effort between ICMR and MDRF.