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The biobanking ecosystem is witnessing significant transformation. Emergence of one-stop shops and virtual biobanks, rise in services offered to sustain and improve positioning, and precision medicine are characterizing this transformative environment. The biobanking market is expected to reach a size of ~$71.2 billion by 2026, registering a compound annual growth rate (CAGR) of ~5.2% from 2020. While Europe is the highest contributor to the total market, Asia-Pacific (APAC) is expected to witness the highest growth during the forecast period (2020 to 2026) of this research. This market will be driven further by innovation in targeted therapeutic applications, high sample utilization of tissue/stem cells, and the increasing demand for bio-data for enabling patient stratification. Significant growth opportunities for biobanks are in the areas of companion diagnostics (CDx) co-development, large-scale genome sequencing projects, immuno-oncology clinical development, digital pathology services, and real-world evidence (RWE) studies.