Bio-preservation Market Size, Share, and Analysis, By Product (Equipment [Freezers, Refrigerators, Liquid Nitrogen, Consumables], Media [Pre-formulated, Home-brew], Laboratory Information Management System); By Application (Regenerative Medicine, Bio-banking, Drug Discovery); By Cell Providers Volume (CD34+, CD19+, MSC, iPSC, HESC, Tumor Cells) and Regional Forecasts, 2022-2032.
The Biopreservation market size was USD 3.17 billion in 2021 and projected to grow from USD 4.2 billion in 2023 to USD 15.6 billion by 2032, exhibiting a CAGR of 15.6 % during the forecast period.
Biopreservation is the process that maintains functionality & integrity of biological products like DNA, stem cells, tissues & organs under various temperatures for prolonging their shelf life without natural environment. Biopreservation is termed as the use of microorganisms and metabolic byproducts for increasing the safety of food and shelf life of products. Biopreservation is used to preserve biospecimens for a longer time periods and to shield them from outside environment. The main types of biopreservation are biopreservation of equipment and media. The biological samples like blood, urine, tissue, DNA, cells etc. are kept in a biological repository for utilizing in research activities for future purpose or utilized for a lab test. Biopreservation equipment include instruments like bio-based therapeutics, cells, clinical biomarkers, viruses, diagnostic biochips etc., that preserve biospecimens.
Biopreservation Market is expected to project a CAGR of 15.6 % during the forecast period, 2022-2032
Biopreservation Market is expected to reach USD 15.6 billion at a CAGR of 15.6 % during forecast period. Biopreservation market is expected to grow due to the extensive use of biopreservation in hospitals and labs. Increasing assistance from government and private organizations in healthcare, and an increasing research and development activities will drive the growth and advancement of Biopreservation Market.Get More Information - Download Free Sample
Equipment segment holds the largest share in the market
Biopreservation Market is classified based on the Product Equipment [Freezers, Refrigerators, Liquid Nitrogen, Consumables], Media [Pre-formulated, Home-brew], Laboratory Information Management System. The Equipment segment held the largest revenue share in 2021 owing to the rising urge for bio-banking to preserve the biological stem cells, DNA etc. The acceptance and utilization of preservation led to enough storage capacity and less maintenance which is expected to drive the market growth.
Tumor cells segment holds the largest share in the market
Biopreservation Market is classified based on the Cell Providers Volume into CD34+, CD19+, MSC, iPSC, hESC, Tumor Cells. Tumor Cells segment holds the largest share in the market and is also expected to grow in the forecast period owing to the increasing research, diagnosis, and treatment activities which are involved in the development of cancer therapies. Tumor cells are used as biomarkers in various studies of cancer like prostate, breast carcinomas etc. The study on tumor cells has led to the growth of this segment in Biopreservation Market.
Increasing Demand for Biopreservation is Expected to Boost the Market Growth
The demand for the use of biopreservation has increased due to the development of biological products in Research and Developments of various sectors like vaccine production, immunotherapies, antibody production, biologically produced chemicals, and enzyme technology. Increasing chronic diseases led to the demand for this market as people are looking forward for better prevention from diseases which is expected to boost the growth of the Biopreservation market.
Rising Government Initiatives is Expected to Boost the Market Growth
The initiatives taken by the government and private sectors have depicted the interest & support towards Biopreservation market. Funding activities in research and development has led to developments in the market and to the demand for preserving stem cells. Developing new biological products and medicines gained focus leading to considerable healthcare spending which is expected to grow in the market in the forecast period.
High Cost of Biopreservation May Hamper the Market Growth
The Market of biopreservation is increasing but the availability of skilled professionals is tough and is lacking stringent cyber securities. This cost associated with training of labor is high which may restrain the market growth. Moreover, the technology for storing the biologics at room temperature has not yet been developed which might result in opposing the growth of market.
Biopreservation Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. North America dominated the Biopreservation Market in 2021 owing to the advancement in therapies related to biomedical research and development and due to the increasing incidence of chronic disease which require certain treatments leading to the demand for biopreservation Market. Asia pacific Market is expected to dominate over the forecast period owing to increasing population, rise in public & private funding and due to the investment in life sciences and research, which are the factors creating demand for market growth. The growing number of biobanks and research centers, high prevalence of chronic diseases, existence of unmet health care needs and awareness about the preservation of umbilical cord cells is expected to create growth opportunity and will drive the Biopreservation Market.
Covid-19 pandemic had adversely affected the global economies due to the disruption in production activities. There has been a huge fluctuation in the demand and supply of good and services. The imposition of lockdown, travel ban, and social distancing norms have disrupted the global supply chains highly and had hampered the product movement. Industries around the world had difficulty in operating activities and some businesses were forced to shut down amid the pandemic. The pandemic had a negative impact on the Biopreservation market as there were no R&D activities during that period. After the pandemic the market is expected to grow owing to the new novel technologies emerging.
Biopreservation Market is further segmented by region into:
Biopreservation Market Segments:
Market size value in 2021
USD 3.17 billion
Revenue forecast in 2032
USD 15.6 billion
CAGR of 15.6 % from 2022 to 2032
Base year for estimation
Revenue in USD billion and CAGR from 2022 to 2032
Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Product, Application, Cell Providers Volume and Region
North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)
Key companies profiled
LabVantage Solutions, Inc, Azenta US, Inc., MVE Biological Solutions, BioLife Solutions, X-Therma Inc., Taylor-Wharton, PrincetonCryo, Thermo Fisher Scientific, Inc., Stirling Ultracold and Other Prominent Players
Biopreservation Market size was estimated at USD 3.17 billion in 2021 and is expected to reach USD 15.6 billion in 2032.
Bio-preservation is the process that maintains functionality & integrity of biological products like DNA, stem cells, tissues & organs under various temperatures for prolonging their shelf life without natural environment. Bio-preservation is termed as the use of microorganisms and metabolic byproducts for increasing the safety of food and shelf life of products.
Equipment and Tumour Cells segment accounted for the largest Bio-preservation market share.
Key players: LabVantage Solutions, Inc, Azenta US, Inc., MVE Biological Solutions, BioLife Solutions, X-Therma Inc., Taylor-Wharton, PrincetonCryo, Thermo Fisher Scientific, Inc., Stirling Ultracold and Other Prominent Players are the key players in the Bio-preservation Market.
Increasing Demand for Bio-preservation and Increasing Government Initiatives are the factors driving the Bio-preservation market.
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