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Biobanking Market size is set to grow by USD 1.66 billion from 2024-2028, Growing demand for personalized medicine boost the market, Technavio

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2 years ago

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NEW YORK, July 31, 2024 /PRNewswire/ — The global biobanking market size is estimated to grow by USD 1.66 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of 9.04% during the forecast period. Growing demand for personalized medicine is driving market growth, with a trend towards emergence of stem cells storage in biobanks. However, increasing ethical issues poses a challenge. Key market players include AMS Biotechnology Europe Ltd., ASKION GmbH, Azenta Inc., Bay Biosciences LLC, BioIVT LLC, Boca Biolistics LLC, CTIBiotech, Cureline Inc., Danaher Corp., Firalis SA, GENETICIST Inc., Greiner Bio One International GmbH, Hamilton Co., OraSure Technologies Inc., PHC Holdings Corp., Promega Corp., ProteoGenex Inc., Shanghai Genext Medical Technology Co. Ltd., Thermo Fisher Scientific Inc., and US Biolab Corp. Inc..

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Biobanking Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 9.04%

Market growth 2024-2028

USD 1669.1 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

8.36

Regional analysis

Europe, North America, Asia, and Rest of World (ROW)

Performing market contribution

Europe at 38%

Key countries

US, Germany, Japan, UK, and China

Key companies profiled

AMS Biotechnology Europe Ltd., ASKION GmbH, Azenta Inc., Bay Biosciences LLC, BioIVT LLC, Boca Biolistics LLC, CTIBiotech, Cureline Inc., Danaher Corp., Firalis SA, GENETICIST Inc., Greiner Bio One International GmbH, Hamilton Co., OraSure Technologies Inc., PHC Holdings Corp., Promega Corp., ProteoGenex Inc., Shanghai Genext Medical Technology Co. Ltd., Thermo Fisher Scientific Inc., and US Biolab Corp. Inc.

Market Driver

The biobanking market is experiencing significant growth due to the increasing demand for stem cell storage. Stem cells have the potential to address various medical needs in sectors like cardiology and oncology. New biobanking facilities, such as those launched by the Global Stem Cells Group in Chile, are dedicated to stem cell research to improve access to novel therapeutic resources. Research organizations are also investing in advanced production units to enhance supply chain efficiency and increase production capacities. Technological advancements, like IT in logistics and temperature-controlled solutions, minimize errors and enable large-scale stem cell therapy product manufacturing in a sterile environment. These investments present substantial growth opportunities for the biobanking market. 

The Biobanking Market is witnessing significant growth due to the increasing demand for human samples, particularly in the areas of blood, plasma, serum, urine, tissues, and cells. Disease-oriented biobanks and population-based biobanks are major segments, with cancer, respiratory diseases, and Alzheimer’s disease being key focus areas. Sustainability and financial support from public organizations are crucial for the industry’s growth. Tissue banks, blood banks, and stem cell biobanks are key players. Biobanking plays a vital role in drug development, and the life science segment is a significant consumer. Ethical challenges, regulatory scrutiny, and informed consent are crucial considerations. Technidata Medical Software and academic institutions are important partners. Emerging countries offer opportunities, but cold chain logistics and lab processing require attention. Biobanking technologies are advancing, enabling precision/personalized medicine, genetic testing, and regenerative medicines. 

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Market Challenges

Biobanking, the process of collecting, storing, and managing biological samples for research and diagnostic purposes, faces ethical concerns regarding privacy and consent. Informed consent is crucial to protect individuals’ identities. However, there are debates over the use of biobank data by private companies for their interests. Ethical issues surround the research on biological samples, particularly human embryonic stem cells, including cloning, embryo destruction, and safety concerns. These debates and disagreements may hinder the growth of the global biobanking market, as they impact research and decision-making in various countries.The biobanking market presents both challenges and opportunities for smaller companies with limited financial resources. One major barrier to entry is the high investment required for infrastructure, including automated storage systems and tissue processing facilities. Ongoing maintenance, operational costs, software updates, and repairs add to the financial burden. Training of skilled resources is also essential for effective collection, storage management, sample distribution, and administration. Developed markets offer lucrative opportunities, but high operational costs can be a challenge. New technologies and availability of biospecimens for research present opportunities, but availability and effective collection come with their own set of challenges. The long-term economic situation requires careful consideration of costs associated with in-case collection, tissue processing, and storage management. Low-cost manufacturing advantage can help smaller companies compete, but they must stay updated with the latest technologies to remain competitive.

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Segment Overview 

This biobanking market report extensively covers market segmentation by

Type 1.1 Physical1.2 VirtualProduct 2.1 Equipment2.2 ConsumablesGeography 3.1 Europe3.2 North America3.3 Asia3.4 Rest of World (ROW)

1.1 Physical- The Biobanking Market is a significant industry that focuses on collecting, storing, and managing biological samples for research and diagnostic purposes. Companies in this market provide services such as sample collection, processing, and long-term storage. Key players include Thermo Fisher Scientific, Qiagen, and Corning Incorporated. Market growth is driven by increasing research and development activities in the healthcare sector and advancements in biotechnology. Biobanks play a crucial role in enabling personalized medicine and drug discovery.

For more information on market segmentation with geographical analysis including forecast (2024-2028) and historic data (2017-2021) – Download a Sample Report

Research Analysis

The biobanking market encompasses the collection, processing, storage, and distribution of human samples, including blood, plasma, serum, urine, tissues, and cells, for research and diagnostic purposes. Two main types of biobanks exist: disease-oriented and population-based. Disease-oriented biobanks focus on specific diseases, such as cancer, respiratory diseases, and Alzheimer’s disease, while population-based biobanks collect samples from large and diverse populations. Tissue banks and blood banks are specialized types of biobanks. Biobanking plays a crucial role in drug development, particularly in the fields of regenerative medicines, cancer, and personalized medicine. Sustainability, financial support from public organizations, and ethical challenges, including informed consent and sample storage, are key considerations. Technidata Medical Software and academic institutions also contribute to the biobanking landscape. Stem cell biobanks are a significant segment of the market, with potential applications in regenerative medicine. Ethical challenges, such as ensuring informed consent and maintaining sample integrity, must be addressed to ensure the success and legitimacy of biobanking initiatives.

Market Research Overview

The Biobanking Market encompasses the collection, processing, storage, and distribution of human biological samples, including blood, plasma, serum, urine, tissues, and cells. Biobanks come in various forms such as disease-oriented, population-based, tissue, blood, and stem cell biobanks. The market caters to diverse applications like drug development, cancer, respiratory diseases, Alzheimer’s disease, and regenerative medicines. Sustainability and financial support from public organizations are crucial. Technidata Medical Software and other biobanking technologies facilitate efficient operations. Ethical challenges and emerging countries pose barriers to entry for smaller biobanking companies with limited financial resources. Informed consent, sample storage, and lab processing are key considerations. The Blood segment and Cells & Tissue segment dominate the Life Science segment. Precision/personalized medicine, genetic testing, biomedical research, and genetic studies are significant applications. The Biobanking Industry faces regulatory scrutiny and high operational costs, but also offers lucrative opportunities due to new technologies and low-cost manufacturing advantages. Ongoing maintenance, software updates, repairs, and training are essential for biobanking operations. The funding scenario is dynamic, with investments and funding influencing buying behavior. Newborn biobanks and automated equipment contribute to efficiency and quality. Biobanking operations require skilled resources and adherence to regulatory guidelines. Biospecimens are vital for research, and new technologies aim to improve availability.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

TypePhysicalVirtualProductEquipmentConsumablesGeographyEuropeNorth AmericaAsiaRest Of World (ROW)

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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SOURCE Technavio

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Technology

Flō Networks Announces Intention to Launch Public Tender Offers to Acquire Up to 100% of Controladora Axtel, S.A.B. de C.V. and Axtel, S.A.B. de C.V.

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10 minutes ago

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September 1, 2026

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MEXICO CITY and EL PASO, Texas, Sept. 1, 2026 /CNW/ — Transtelco Holding, Inc. (doing business as Flō Networks, or “Flō”), a U.S.-based, independent digital infrastructure provider operating its own fiber-optic network across Mexico, the Southwestern United States and Latin America, today announced its intention to launch concurrent public tender offers (ofertas públicas de adquisición, or the “Offers”) to acquire up to 100% of the outstanding shares of Controladora Axtel, S.A.B. de C.V. (“Controladora Axtel”) and up to 100% of the outstanding CPOs of Axtel, S.A.B. de C.V. (“Axtel,” and together with Controladora Axtel, the “Axtel Companies”).

Flō has received preliminary approval from the Boards of Directors of both Axtel Companies to continue the process

Flō has received preliminary approval from the Boards of Directors of both Axtel Companies to continue the process toward launching the Offers, and is working to obtain the required regulatory approvals.

The commencement of the Offers remains subject to authorization by the Comisión Nacional Bancaria y de Valores, clearance by the Comisión Nacional Antimonopolio, the receipt of any other required regulatory approvals, and the satisfaction of the applicable contractual and corporate conditions. Subject to the satisfaction of these requirements, Flō is prepared to move promptly toward commencement of the Offers. The terms and conditions of the Offers, including the applicable offering documents, will be published in accordance with Mexican securities laws and the regulations of the Bolsa Mexicana de Valores at the appropriate time.

“This is an important step in our long-term vision for Flō and for the digital infrastructure that will support Mexico’s continued economic and technological development,” said Miguel Fernandez, Chief Executive Officer of Flō Networks. “By bringing together the complementary networks, capabilities and talent of Flō and Axtel, we have an opportunity to create a stronger digital infrastructure platform with greater scale, reach and capacity to serve customers across Mexico and beyond. We believe that stronger infrastructure enables stronger businesses, greater innovation and new opportunities for the communities and economies we connect.”

The proposed acquisition would combine complementary assets and expertise to strengthen Flō’s ability to invest in network resilience, expand its portfolio of digital services and deliver greater value to businesses operating in Mexico and across the region. Flō believes the combination would create meaningful operational and commercial synergies while supporting continued investment in the infrastructure required for critical technologies for productivity and competitiveness. The transaction would also create opportunities for long-term value creation for customers, employees, shareholders, partners and the communities the companies serve.

About Flō Networks

Founded as Transtelco in 2001, Flō Networks is a leading digital infrastructure provider connecting companies on both sides of the U.S.-Mexico border and across the Americas. Flō provides comprehensive connectivity solutions and advanced cloud infrastructure to Fortune 500 companies, telecommunications providers and cable operators through a fiber-optic network spanning more than 30,000 route miles across the Southwestern United States and Mexico, with connectivity across fifteen countries throughout the Americas. For more information, visit flo.net.

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SOURCE Flō Networks

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Technology

Arista Demand Hires Jordanna Howard to Strengthen the Company’s Continued Growth

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10 minutes ago

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September 1, 2026

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SAN FRANCISCO, Sept. 1, 2026 /PRNewswire/ — Arista Demand, a leading provider of B2B demand generation solutions, is pleased to announce Jordanna Howard has joined the company as VP, Global Integrated Sales, effective September 1, 2026.

Prior to joining Arista Demand, Jordanna spent five years at Veritas Media Group, serving as VP of Client Services. Jordanna played a key part in growing VMG’s client portfolio and driving net-new revenue through new business partnerships, while also expanding and strengthening existing client relationships. She was instrumental in championing VMG’s reputation for white-glove service, exceptional client experiences, and long-term client success.

Jordanna joins Arista Demand as the organization continues to expand its capabilities, strengthen and build client partnerships, and help B2B organizations connect with the right prospects through results-driven demand generation and media initiatives.

“We are thrilled to welcome Jordanna to Arista Demand,” said Managing Director, Jennifer Sand. “She brings tremendous experience, energy, and a client-focused approach that aligns perfectly with how we work. Jordanna will be an important part of our continued growth, and we’re excited to have her on the team.”

In her new role, Jordanna will focus on client development, partnerships, and sales. Her experience in digital and non-traditional media will further strengthen Arista Demand’s ability to deliver innovative and integrated, measurable solutions, beyond lead gen, for clients.

“I’m excited to join Arista Demand and become part of a team that is so focused on its clients and their success,” said Howard. “I look forward to contributing to the company’s growth and helping our clients achieve meaningful results.”

Jordanna lives in Napa, California, with her partner, Jeff, and daughter, Mackie. Outside of work, she loves spending time with family and friends and is passionate about giving back.

She serves on UCSF’s Board of Directors for “All May See” vision foundation as well as sfBIG’s Board, supporting and connecting the Bay Area advertising community. Jordanna is also actively involved in her daughter’s school and is the troop leader for her local Girl Scouts Brownie troop.

About Arista Demand

Arista Demand helps B2B organizations accelerate revenue through intent targeted demand generation programs designed to connect brands with their respective audience that matter most. Through a combination of intent, 1st party data, strategy, technology, and client-focused execution, Arista Demand helps marketers build pipeline and drive measurable business results. Arista Demand brings buyers and sellers together around the globe. 

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SOURCE Arista Demand

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Technology

Reducto Unveils a Frontier Parsing Model That Makes the World’s Hardest Documents AI-Ready for 1¢ a Page

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10 minutes ago

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September 1, 2026

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The new r-1 model is the first in a family of document intelligence models that reduces parsing errors by up to 20% while replacing complex, multi-tool pipelines with a single model that costs up to 6× less.

SAN FRANCISCO, Sept. 1, 2026 /PRNewswire/ — Reducto today introduced r-1, a frontier document parsing model that turns complex PDFs, scans, spreadsheets, and other files into accurate, structured data for AI systems.

Reducto has already established itself as a leader in document parsing by handling the long tail of complex files that break conventional tools. Available today in preview, r-1 extends that lead—reducing errors by up to 20%, improving latency at high volumes, and bringing the all-in cost down to 1¢ per page.

Before an AI system can reason over a document, it must first understand what is on the page. That becomes difficult when meaning is encoded not only in text, but also in tables, handwriting, reading order, formatting, checkboxes, strikethroughs, and the position of content. A parser that misreads a financial table can give an AI agent the wrong numbers. One that drops a strikethrough can reverse the meaning of a contract.

Established services such as Amazon Textract and Azure Document Intelligence helped make cloud document processing widely available. But organizations working with complex documents often still combine multiple tools, models, and layers of post-processing to achieve the accuracy they need. In Reducto’s evaluations, r-1 outperformed commonly used hyper-scaler products and large LLMs on complex documents while providing a complete parse at one all-in price.

Built from the ground up and trained on some of the most challenging document data in the world, r-1 combines layout detection, reading order, tables, formatting, grounding, and granular citations in a single model. It is designed for the long tail of documents where simpler parsers break down, including dense tables, unusual layouts, low-quality scans, handwriting, watermarked content, and files that do not follow predictable templates.

By combining these capabilities, r-1 can handle an organization’s full document workload without requiring teams to route files among providers or maintain separate pipelines for different document types. Its flat price of 1¢ per page includes the complete parse, without additional model charges or feature-based multipliers.

r-1 is the first in a broader family of Reducto parsing models designed for different points on the accuracy, latency, and cost curve. Planned additions include r-1 mini, a smaller model for speed- and cost-sensitive workloads, and automatic routing that selects the right model for each page.

Organizations using another parser can receive up to $5,000 in credits to test r-1 on their most difficult documents, along with hands-on benchmarking support, at reducto.ai/migrate. r-1 is also available today in preview through a configuration flag in the Reducto Parse API.

About Reducto

Reducto is an agentic document platform that turns complex, real-world documents into structured data for AI agents and document-intensive workflows. The company has raised more than $108 million from investors including Andreessen Horowitz and First Round Capital and has processed more than a billion pages a month. Its customers include Harvey, Scale AI, Vanta, Airtable, Toast, and Fortune 10 enterprises.

 

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SOURCE Reducto

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