Bio-preservation Market

Biopreservation Market Research, 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 used for a lab test. Biopreservation equipment includes instruments like bio-based therapeutics, cells, clinical biomarkers, viruses, diagnostic biochips etc., that preserve biospecimens.

Market Highlights

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.

Biopreservation Market Segmentation:

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 urgency for bio-banking to preserve the biological stem cells, DNA etc. The acceptance and utilization of preservation led to sufficient 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.             

Market Dynamics:

Growth Drivers

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 such as 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 represented 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.

Restraint

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. Furthermore, the technology for storing the biologics at room temperature has not yet been developed which might result in opposing the growth of market.

Recent Developments:

• In September 2021, the Regenerative Medicine Catalyst Project was launched along with seven partners for monitoring regenerative medicine R&D and funding in the country as the demand for regenerative medicine increased, which employs biopreservation to treat life-threatening diseases like cancer.
• In April 2021, a new high-capacity controlled freezer was launched by BioLife Solutions to cater to the gene & cell therapy market assisting in expanding company's existing product portfolio.

Biopreservation Market Key Players Covered:

• LabVantage Solutions, Inc
• Azenta US, Inc.
• MVE Biological Solutions
• BioLife Solutions
• X-Therma Inc.
• Taylor-Wharton
• PrincetonCryo
• Thermo Fisher Scientific, Inc.
• Stirling Ultracold 
• Other Prominent Players ( Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis)

Regional Analysis

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 requires 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.

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Impact of Covid-19 on 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 greatly 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 emerging technologies.

Biopreservation Market is further segmented by region into:

• North America Market Size, Share, Trends, Opportunities, YoY Growth, CAGR – United States and Canada
• Latin America Market Size, Share, Trends, Opportunities, YoY Growth, CAGR – Mexico, Argentina, Brazil and Rest of Latin America
• Europe Market Size, Share, Trends, Opportunities, YoY Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
• Asia Pacific Market Size, Share, Trends, Opportunities, YoY Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia and Rest of APAC
• Middle East and Africa Market Size, Share, Trends, Opportunities, YoY Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA

Biopreservation Market report also contains analysis on:

Biopreservation Market Segments:

• By Product 
  • Equipment [Freezers, Refrigerators, Liquid Nitrogen, Consumables]
  • Medium [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
• Biopreservation Market Dynamics
• Biopreservation Market Size
• Supply & Demand
• Current Trends/Issues/Challenges
• Competition & Companies Involved in the Market
• Value Chain of the Market
• Market Drivers and Restrictions

Biopreservation Market Report Scope and Segmentation

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