The exponential increase in human population depicted by the recent population trend shows that every 15 years the world population would increase by at least 1 billion. Consequently, there is a large increase in the use of human biospecimens for academic and pharmaceutical research. The global demand for human biospecimen is estimated to be worth $700 million and projected to increase 20%-30% annually. Biospecimens and associated data sharing are essential for biomedical research findings, discovery of disease markers, and improving patients' health care. One of the most prevalent chronic diseases worldwide that involves extensive interdisciplinary research-based studies is diabetes. In this review, we emphasized the need and importance of biobanks in diabetes, which will serve as a resource to promote research in understanding disease link, and mechanisms related to molecular pathways, protein and drug targets, and also in improving health outcomes.