A quick peek into the report
Table of Contents
1.1 Market Overview
1.2 Regulatory Framework
1.2.1 U.S.
1.2.1.1 Regulatory Requirements for Biobanking Cold Storage Equipment Products Intended as Medical Devices
1.2.2 European Union (EU)
1.2.2.1 Regulatory Requirements for Biobanking Cold Storage Equipment Intended as Medical Devices
1.2.3 Japan
1.2.3.1 Regulatory Requirements for Biobanking Cold Storage Equipment Intended as Medical Devices
1.2.4 China
1.2.4.1 Regulatory Requirements for Biobanking Cold Storage Equipment Intended as Medical Devices
1.2.5 Brazil
1.3 Patent Analysis
1.3.1 Patent Filing Trend (by Country)
1.3.2 Patent Filing Trend (by Year)
1.4 Global Biobanking Cold Storage Equipment Market, Supply/ Value Chain Analysis
1.5 Market Dynamics Overview
1.5.1 Market Drivers
1.5.1.1 Growing Investments and Funding for Biobanks
1.5.1.2 Increasing R&D Activities Using Biospecimens in Precision Medicine
1.5.1.3 Technological Advancements and Automation in Biobanking
1.5.1.4 Increasing Trend in Preservation of Cord Blood Stem Cells from Newborns
1.5.2 Market Restraints
1.5.2.1 Elevated Operational Costs for Biobanks
1.5.2.2 High Legal and Ethical Challenges
1.5.3 Market Opportunities
1.5.3.1 Emerging Economies to Provide Lucrative Opportunities
2.1 By Offering Summary
2.1.1 Equipment
2.1.2 Accessories and Consumables
2.1.3 Software
2.1.4 Service
3.1 By End User Summary
3.1.1 Hospitals and Biobanks
3.1.2 Academic and Research Institutions
3.1.3 Pharmaceutical and Biotechnology Companies
3.1.4 Other End Users
4.1 Regional Summary
4.2 Europe
4.2.1 Regional Overview
4.2.2 Driving Factors for Market Growth
4.2.3 Factors Challenging the Market
4.2.3.1 U.K.
4.2.3.2 Germany
4.2.3.3 France
4.2.3.4 Italy
4.2.3.5 Spain
4.2.3.6 Rest-of-Europe
4.3 North America
4.3.1 Regional Overview
4.3.2 Driving Factors for Market Growth
4.3.3 Factors Challenging the Market
4.3.3.1 U.S.
4.3.3.2 Canada
4.4 Asia-Pacific
4.4.1 Regional Overview
4.4.2 Driving Factors for Market Growth
4.4.3 Factors Challenging the Market
4.4.3.1 China
4.4.3.2 Japan
4.4.3.3 Australia
4.4.3.4 India
4.4.3.5 Singapore
4.4.3.6 Rest-of-Asia-Pacific
4.5 Latin America
4.5.1 Regional Overview
4.5.2 Driving Factors for Market Growth
4.5.3 Factors Challenging the Market
4.5.3.1 Brazil
4.5.3.2 Mexico
4.5.3.3 Rest-of-Latin America
4.6 Middle East and Africa
4.6.1 Regional Overview
4.6.2 Driving Factors for Market Growth
4.6.3 Factors Challenging the Market
5.1 Global Biobanking Cold Storage Equipment Market: Competitive Landscape
5.1.1 Strategic Developments, January 2021- December 2024
5.2 Company Profiles
5.2.1 Thermo Fisher Scientific, Inc.
5.2.1.1 Overview
5.2.1.2 Top Products
5.2.1.3 Top Competitors
5.2.1.4 Target Customers/End Users
5.2.1.5 Analyst View
5.2.2 Azenta, Inc.
5.2.2.1 Overview
5.2.2.2 Top Product Offered
5.2.2.3 Top Competitors
5.2.2.4 Target Customers/End Users
5.2.2.5 Analyst View
5.2.3 PHC Holding Corporation
5.2.3.1 Overview
5.2.3.2 Top Products Offered
5.2.3.3 Top Competitors
5.2.3.4 Target Customers/End Users
5.2.3.5 Analyst View
5.2.4 Haier Biomedical
5.2.4.1 Overview
5.2.4.2 Top Products Offered
5.2.4.3 Top Competitors
5.2.4.4 Target Customers/End Users
5.2.4.5 Analyst View
5.2.5 Eppendorf SE
5.2.5.1 Overview
5.2.5.2 Top Products Offered
5.2.5.3 Top Competitors
5.2.5.4 Target Customers/End Users
5.2.5.5 Analyst View
5.2.6 Trane Technologies plc
5.2.6.1 Overview
5.2.6.2 Top Product Offered
5.2.6.3 Top Competitors
5.2.6.4 Target Customers/End Users
5.2.6.5 Analyst View
5.2.7 MGI Tech Co., Ltd.
5.2.7.1 Overview
5.2.7.2 Top Product Offered
5.2.7.3 Top Competitors
5.2.7.4 Target Customers/End Users
5.2.7.5 Analyst View
5.2.8 Arctiko
5.2.8.1 Overview
5.2.8.2 Top Products Offered
5.2.8.3 Top Competitors
5.2.8.4 Target Customers/End Users
5.2.8.5 Analyst View
5.2.9 Labcold
5.2.9.1 Overview
5.2.9.2 Top Products Offered
5.2.9.3 Top Competitors
5.2.9.4 Target Customers/End Users
5.2.9.5 Analyst View
5.2.10 Esco Micro Pte. Ltd.
5.2.10.1 Overview
5.2.10.2 Top Products Offered
5.2.10.3 Top Competitors
5.2.10.4 Target Customers/End Users
5.2.10.5 Analyst View
5.2.11 Avantor, Inc.
5.2.11.1 Overview
5.2.11.2 Top Products Offered
5.2.11.3 Top Competitors
5.2.11.4 Target Customers/End Users
5.2.11.5 Analyst View
5.2.12 BioLife Solutions, Inc.
5.2.12.1 Overview
5.2.12.2 Top Products Offered
5.2.12.3 Top Competitors
5.2.12.4 Target Customers/End Users
5.2.12.5 Analyst View
5.2.13 Hamilton Company
5.2.13.1 Overview
5.2.13.2 Top Products Offered
5.2.13.3 Top Competitors
5.2.13.4 Target Customers/End Users
5.2.13.5 Analyst View
5.2.14 IC Biomedical, LLC
5.2.14.1 Overview
5.2.14.2 Top Products Offered
5.2.14.3 Top Competitors
5.2.14.4 Target Customers/End Users
5.2.14.5 Analyst View
6.1 Data Sources
6.1.1 Primary Data Sources
6.1.2 Secondary Data Sources
6.1.3 Data Triangulation
6.2 Market Estimation and Forecast
Table 1: Market Snapshot
Table 2: Global Biobanking Cold Storage Equipment Market Opportunities
Table 3: Impact Analysis of Market Navigating Factors, 2022-2033
Table 4: Operational and Direct Labor Costs
Table 5: Global Biobanking Cold Storage Equipment Market (by Offering), $Million, 2022-2033
Table 6: Global Biobanking Cold Storage Equipment Market (by Equipment), $Million, 2022-2033
Table 7: Global Biobanking Cold Storage Equipment Market (by End User), $Million, 2022-2033
Table 8: Global Biobanking Cold Storage Equipment Market (by Region), $Million, 2022-2033
Table 9: BBMRI-ERIC Biobanking Projects and Grants Across Europe
Table 10: Europe Biobanking Cold Storage Equipment Market (by Country), $Million, 2022-2033
Table 11: North America Biobanking Cold Storage Equipment Market (by Country), $Million, 2022-2033
Table 12: Asia-Pacific Biobanking Cold Storage Equipment Market (by Country), $Million, 2022-2033
Table 13: Latin America Biobanking Cold Storage Equipment Market (by Country), $Million, 2022-2033
Figure 1: Global Biobanking Cold Storage Equipment Market, $Million, 2024, 2028, and 2033
Figure 2: Global Biobanking Cold Storage Equipment Market (by Region), $Million, 2023, 2027, and 2033
Figure 3: Global Biobanking Cold Storage Equipment Market (by Offering), $Million, 2023, 2027, and 2033
Figure 4: Global Biobanking Cold Storage Equipment Market (by Equipment), $Million, 2023, 2027, and 2033
Figure 5: Global Biobanking Cold Storage Equipment Market (by End User), $Million, 2023, 2027, and 2033
Figure 6: Number of Patents in Biobanking Cold Storage Equipment Market (by Country), January 2019-May 2024
Figure 7: Number of Patent in Biobanking Cold Storage Equipment Market (by Year), January 2011-December 2024
Figure 8: Supply/ Value Chain Analysis: Global Biobanking Cold Storage Equipment Market
Figure 9: Legal and Ethical Challenges in Biobanking
Figure 10: U.K. Biobanking Cold Storage Equipment Market, $Million, 2022-2033
Figure 11: Germany Biobanking Cold Storage Equipment Market, $Million, 2022-2033
Figure 12: France Biobanking Cold Storage Equipment Market, $Million, 2022-2033
Figure 13: Italy Biobanking Cold Storage Equipment Market, $Million, 2022-2033
Figure 14: Spain biobanking cold storage equipment Market, $Million, 2022-2023
Figure 15: Rest of Europe Biobanking Cold Storage Equipment Market, $Million, 2022-2033
Figure 16: U.S. Biobanking Cold Storage Equipment Market, $Million, 2022-2033
Figure 17: Canada Biobanking Cold Storage Equipment Market, $Million, 2022-2033
Figure 18: China Biobanking Cold Storage Equipment Market, $Million, 2022-2033
Figure 19: Japan Biobanking Cold Storage Equipment Market, $Million, 2022-2033
Figure 20: Australia Biobanking Cold Storage Equipment Market, $Million, 2022-2033
Figure 21: India Biobanking Cold Storage Equipment Market, $Million, 2022-2033
Figure 22: Singapore Biobanking Cold Storage Equipment Market, $Million, 2022-2033
Figure 23: Rest-of-Asia-Pacific Biobanking Cold Storage Equipment Market, $Million, 2022-2033
Figure 24: Brazil Biobanking Cold Storage Equipment Market, $Million, 2022-2033
Figure 25: Mexico Biobanking Cold Storage Equipment Market, $Million, 2022-2033
Figure 26: Rest-of-Latin America Biobanking Cold Storage Equipment Market, $Million, 2022-2033
Figure 27: Middle East and Africa Biobanking Cold Storage Equipment Market, $Million, 2022-2033
Figure 28: Strategic Developments, January 2021- December 2024
Figure 29: Data Triangulation
Figure 30: Top-Down and Bottom-Up Approach
Figure 31: Assumptions and Limitations
Biobanking Cold Storage Equipment Market Report Coverage
|
Biobanking Cold Storage Equipment Market |
|||
|
Base Year |
2024 |
Market Size in 2024 |
$1,500.9 Million |
|
Forecast Period |
2024-2033 |
Value Projection and Estimation by 2033 |
$2,889.9 Million |
|
CAGR During Forecast Period |
7.55% |
Number of Pages |
102 |
|
Number of Tables |
13 | Number of Figures | 31 |
Key Market Players and Competition Synopsis
The competitive landscape of the global biobanking cold storage equipment market is dominated by several key players, each offering cutting-edge technologies to meet the growing demand for reliable cold storage solutions. Leading companies such as Thermo Fisher Scientific, Inc., Azenta, Inc., and PHC Holding Corporation are at the forefront, providing a wide range of equipment including freezers, cryogenic storage systems, and refrigerators that cater to diverse biobanking needs. Other prominent players like Haier Biomedical, Eppendorf SE, and Trane Technologies plc offer specialized cold storage systems designed to meet the rigorous demands of biobanks. The market is highly competitive, with these players continually advancing their product portfolios by integrating digital technologies like cloud-based monitoring and automation. Companies such as MGI Tech Co., Ltd, Arctiko, Labcold, Esco Micro Pte. Ltd, Avantor, Inc., BioLife Solutions, Inc., Hamilton Company, and IC Biomedical, LLC also contribute to the market through innovation and strategic partnerships, positioning themselves as strong contenders in this growing industry.
Some prominent names established in the global biobanking cold storage equipment market are:
• Thermo Fisher Scientific, Inc.
• Azenta, Inc.
• PHC Holding Corporation
• Haier Biomedical
• Eppendorf SE
• Trane Technologies plc
• MGI Tech Co., Ltd
• Labcold
• Avantor, Inc.
• BioLife Solutions, Inc.
• Hamilton Company
• IC Biomedical, LLC
How can this report add value to an organization?
Product/Innovation Strategy: This report provides valuable insights into the latest advancements in biobanking cold storage equipment, including innovations in temperature control, automation, and cloud-based monitoring systems. Organizations can use these insights to identify opportunities for product differentiation, develop next-generation cold storage solutions, and integrate cutting-edge technologies to meet the growing demands of biobanks and personalized medicine.
Growth/Marketing Strategy: The report offers detailed regional and market segment insights, enabling organizations to target high-growth markets such as Asia-Pacific, where demand for biobanking infrastructure is rapidly expanding. By understanding market trends and regional dynamics, companies can align their marketing strategies to effectively position their products in fast-growing regions like North America and Europe, capitalizing on the increasing need for advanced cold storage solutions.
Competitive Strategy: By analyzing market share, key players, and industry trends, this report allows organizations to evaluate competitive dynamics, identify market leaders, and develop strategies to gain a competitive edge. This can include forming strategic partnerships, entering new markets, and developing innovative product offerings to meet the evolving needs of biobanks and research institutions.
Methodology
Key Considerations and Assumptions in Market Engineering and Validation
• The base year considered for the calculation of the market size is 2023. A historical year analysis has been done for the period FY2021-FY2022. The market size has been estimated for FY2023 and projected for the period FY2024-FY2033.
• The scope of this report has been carefully derived based on interactions with experts in different companies worldwide.
• The global biobanking cold storage equipment market contribution of biobanking cold storage equipment anticipated to be launched in the future has been calculated based on the historical analysis of the drugs.
• Revenues of the companies have been referenced from their annual reports for FY2023 and FY2023. For private companies, revenues have been estimated based on factors such as inputs obtained from primary research, funding history, market collaborations, and operational history.
• The global biobanking cold storage equipment market has been mapped based on the available biobanking cold storage equipment. This report has considered and profiled all the key companies with significant offerings in this field.
• The report excludes products and services not directly related to cold storage and preservation, such as equipment, accessories, consumables, software, and services used for sample analysis (e.g., biochemical or molecular testing tools).
• It also excludes products related to sample processing (e.g., preparation and centrifugation equipment) and sample transport (e.g., portable coolers and transport kits) specifically designed for moving biological samples.
Primary Research:
The primary sources involve industry experts in biobanking cold storage equipment, including the market players offering biobanking cold storage equipment. Resources such as CEOs, vice presidents, marketing directors, and salespersons have been interviewed to obtain and verify both qualitative and quantitative aspects of this research study.
The key data points taken from the primary sources include:
• Validation and triangulation of all the numbers and graphs
• Validation of the report’s segmentation and key qualitative findings
• Understanding the competitive landscape and business model
• Current and proposed production values of a product by market players
• Percentage split of individual markets for regional analysis
Secondary Research
Open Sources
• Certified publications, articles from recognized authors, white papers, directories, and major databases, among others
• Annual reports, SEC filings, and investor presentations of the leading market players
• Company websites and detailed study of their product portfolio
• Gold standard magazines, journals, white papers, press releases, and news articles
• Paid databases
The key data points taken from the secondary sources include:
• Segmentations and percentage shares
• Data for market value
• Key industry trends of the top players of the market
• Qualitative insights into various aspects of the market, key trends, and emerging areas of innovation
• Quantitative data for mathematical and statistical calculations
Global Biobanking Cold Storage Equipment Market Industry Overview
Introduction of Biobanking Cold Storage Equipment Market
The global biobanking cold storage equipment market, valued at $1,410.6 million in 2023, is on a robust growth trajectory and is anticipated to reach $2,889.9 million by 2033. This market is expected to expand at a compound annual growth rate (CAGR) of 7.55% between 2024 and 2033. The global biobanking cold storage equipment market is experiencing robust growth due to the increasing demand for the long-term preservation of biological samples, such as human tissues, blood, and DNA. These samples are pivotal in research areas such as genomics, pharmaceuticals, and biotechnology, fueling the need for advanced cold storage solutions. The market is segmented by offerings, including equipment, accessories and consumables, software, and services. Among these, the equipment segment dominates, with freezers, cryogenic storage systems, and refrigerators being essential components in biobanks. Technological advancements in temperature control systems, along with the growing trend towards personalized medicine, have heightened the need for high-quality and reliable cold storage solutions. Furthermore, as regulatory requirements for biobanks become more stringent, the demand for robust and secure cold storage equipment is expected to rise. The increasing investment in research and development of precision medicine further contributes to the market's expansion.
Regional Segmentation:
• North America
o U.S.
o Canada
• Europe
o U.K.
o Germany
o France
o Italy
o Spain
o Rest-of-Europe
• Asia-Pacific
o China
o Japan
o Australia
o India
o Singapore
o Rest-of-Asia-Pacific
• Latin America
o Brazil
o Mexico
o Rest of Latin America
• Middle East and Africa
Europe
Europe remains the leading region in the global biobanking cold storage equipment market. The region is home to the highest number of biobanks, driven by a robust healthcare infrastructure, a strong focus on research and development, and government support for life sciences initiatives. Countries like the U.K, Germany, France, and the Netherlands are key contributors, with substantial investments in precision medicine, genomics, and biomedical research. Additionally, Europe’s strict regulatory environment for biobanks ensures the demand for high-quality cold storage solutions, further boosting market growth. The presence of major players and research institutions also strengthens Europe’s dominant position in the market.
North America
North America, particularly the U.S., holds a significant share of the global biobanking cold storage equipment market. The region benefits from advanced technological capabilities, a strong pharmaceutical industry, and substantial investments in life sciences research. The growing trend toward personalized medicine, alongside major healthcare organizations and academic research institutions, drives demand for reliable cold storage equipment. The region also benefits from favorable government policies that encourage the establishment of biobanks, thus contributing to market growth.
Asia-Pacific
The Asia-Pacific region is the fastest-growing market for biobanking cold storage equipment. Rapid advancements in biotechnology and pharmaceuticals, coupled with increasing research investments, drive the growth of biobanks in countries like China, Japan, India, and South Korea. These countries are expanding their biobanking infrastructure to support the growing demand for genomics research, diagnostics, and precision medicine. The rise in healthcare expenditures and the increasing number of clinical trials in the region also stimulate demand for advanced cold storage solutions. As the region continues to invest in biobanking capabilities, the demand for efficient and scalable cold storage equipment will continue to rise.
Middle East & Africa
The Middle East and Africa (MEA) region is a developing market for biobanking cold storage equipment. While currently holding a smaller market share, countries like the UAE and Saudi Arabia are advancing their biobanking infrastructure, supported by growing investments in biotechnology and genomics. Increasing research collaborations and awareness about the importance of biobanks in medical research are driving demand for cold storage solutions in the region.
Latin America
Latin America is experiencing steady growth in the biobanking cold storage equipment market, particularly in countries like Brazil, Mexico, and Argentina. Government initiatives and a growing biotechnology sector are contributing to market expansion. However, economic challenges and lower research investments in some countries limit growth, though demand for cold storage solutions is expected to rise as the region develops its healthcare and research infrastructure.
Recent Developments in the Global Biobanking Cold Storage Equipment Market
• In August 2024: Thermo Fisher Scientific has opened a new clinical and commercial ultra-cold storage facility in Bleiswijk, Netherlands, expanding its European clinical trial network to address the increasing demand for ultra-cold storage solutions critical for advanced therapies like cell and gene therapies.
• In August 2024: Thermo Fisher Scientific has introduced the TSX Universal Series ULT Freezers, offering tighter temperature control, faster recovery times, and enhanced energy efficiency.
• In February 2024: Azenta, Inc. has launched the BioArc Ultra, an eco-friendly automated ultracold sample management solution, designed to improve performance in large-scale biorepositories.
• In February 2024: PHC Corporation of North America has launched the new model of PHCbi brand VIP ECO SMART ultra-low temperature freezer series, for use in facilities including pharmaceutical companies, medical institutions, and universities.
Analyst’s Thoughts
According to Akash Mhaskar, Principal Analyst – BIS Research, the global biobanking cold storage equipment market is set for significant growth, driven by the increasing demand for long-term preservation of biological samples and the expansion of precision medicine. Europe remains the dominant market, supported by a high number of biobanks and strong research infrastructure. However, Asia-Pacific is emerging as the fastest-growing region, fueled by rapid advancements in biotechnology, government initiatives, and rising healthcare investments. North America will continue to hold a substantial market share, bolstered by its advanced healthcare system and research capabilities. The growing emphasis on genomic research and personalized medicine will further accelerate the demand for reliable and high-performance cold storage solutions.
Biobanking Cold Storage Equipment Market - A Global and Regional Analysis
Focus on Offering, End User, and Region - Analysis and Forecast, 2024-2033
Frequently Asked Questions
The global biobanking cold storage equipment market involves the provision of specialized cold storage solutions, including freezers, cryogenic storage systems, refrigerators, and other equipment, designed to preserve biological samples for research, diagnostics, and personalized medicine. The market is driven by the growing demand for precision medicine, advancements in genomics, and the increasing number of biobanks worldwide.
Market players are adopting strategies such as technological innovations in automation, cloud-based monitoring systems, and energy-efficient solutions. Companies are also focusing on strategic partnerships, acquisitions, and expanding product portfolios to meet evolving demands, particularly in emerging markets like Asia-Pacific.
The following are the USPs of this report:
• In-depth market analysis with detailed segmentation across equipment types, offerings, end-users, and key regions.
• Comprehensive competitive landscape, providing insights into both established and emerging players in the biobanking cold storage equipment market.
• Expert perspectives on current trends, technological advancements, and future growth opportunities in biobanking and cold storage.
• Strategic insights into market developments, including regulatory changes, innovations in cold storage technologies, and the impact of precision medicine on equipment demand.
This report is ideal for biobank operators, healthcare providers, pharmaceutical companies, equipment manufacturers, investors, and regulatory bodies looking to understand market dynamics and opportunities in the biobanking cold storage sector. It is also valuable for R&D managers, product developers, and marketing strategists seeking insights into emerging technologies and regional trends.