New York, United States , June 10, 2024 (GLOBE NEWSWIRE) -- The Global Biopreservation Market Size is to Grow from USD 2.7 Billion in 2023 to USD 19.8 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 22.05% during the projected period.
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Biopreservation is a technique that extends the life of biological materials—such as tissues, stem cells, DNA, and organs—away from their native habitats by preserving the materials' integrity and use throughout a range of temperature environments. Biopreservation uses microorganisms and their byproducts of metabolism to improve food safety and extend its shelf life. It allows biospecimens to remain alive longer and safeguards them from harm beyond their natural environment. Biospecimens are material samples such as urine, tissue, blood, DNA, cells, and others that are kept in a bio repository for future studies or use in lab testing. Due to biospecimen technology has several uses in DNA, tissue, stem cell, and plasma research, there is a greater need for it. Some of the characteristics that have contributed to the rapid uptake include their great cost-effectiveness, storage capacity, and low maintenance requirements. Additionally, as healthcare cutting-edge medical technologies such as organ transplants, stem cell therapy, and regenerative medicine will become increasingly commonplace. Biopreservation solutions that can effectively sustain the ongoing existence of these materials while conserving them are in high demand as a result of these methods' requirement for the regular preservation of biological samples, such as tissues, cells, and organs. However, it is anticipated that advancements in media solutions that allow biospecimens to be kept at room temperature would impede the growth of the global biopreservation industry. For example, Biomatrica, Inc. provides the temperature of the room sample stabilization medium solutions, such as DNA stable and RNA stable. These solutions put customer demand at risk, that restricts the market's growth for freezers and refrigerators.
Browse key industry insights spread across 200 pages with 110 Market data tables and figures & charts from the report on the "Global Biopreservation Market Size, Share, and COVID-19 Impact Analysis, By Product (Media, Equipment, and Accessories), By Application (Research, and Therapeutic), By End Users (Regenerative Medicine, Bio- Banking, Gene Bank, Hospitals, and Drug Discovery), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The media segment is anticipated to hold the largest share of the global biopreservation market during the projected timeframe.
Based on the product, the global biopreservation market is divided into media, equipment, and accessories. Among these, the media segment is anticipated to hold the largest share of the global biopreservation market during the projected timeframe. Media plays an essential role for conserving biological specimens, overtaking equipment acquisitions in value.
The research segment is anticipated to dominate the global biopreservation market during the projected time frame.
Based on the application, the global biopreservation market is divided into research, therapeutic. Among these, the research segment is anticipated to dominate the global biopreservation market during the projected time frame. Rising investment and research spending in biomedical research, cell-based research is anticipated to boost market in estimated time frame.
The bio-banking segment anticipated to dominate the global biopreservation market during the projected time frame.
Based on the end users, the global biopreservation market is divided into regenerative medicine, bio- banking, gene bank, hospitals, and drug discovery. Among these, the bio-banking segment anticipated to dominate the global biopreservation market during the projected time frame. The increased need for biospecimens, notably in genomics and personalized health research, promotes the biobanking market's growth.
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North America is expected to dominate the global biopreservation market over the forecast period.
North America is expected to dominate the global biopreservation market over the forecast period. This is due to improvements in biomedical research and the creation of more effective medicinal products. Furthermore, the growing number of chronic diseases requiring medication drives up demand for biopreservation in the region, strengthening its market position. Such measures are expected to help expand the biopreservation services available in the market and drive growth. The biopreservation market in the North America is anticipated to raise significantly due to the presence of government agencies and various biobanking institutions that promotes the use of biopreservation techniques. These biobanks assist the country's clinical trial and research programs, which increases the demand for biopreservation techniques. The use of bio-storage will rise as a result of significant government support for research and development, which is anticipated to propel market expansion in the region.
Asia Pacific is predicted to grow at the fastest pace in the global biopreservation market during the projected timeframe. Asia Pacific has dominated the industry in R&D spending due to this significant expenditure. They use skills and cutting-edge technologies to bolster the market. Moreover, increased funding for medical research initiatives and greater public awareness of the need to preserve umbilical cord cells will boost economic possibilities. It is anticipated that patient awareness and the availability of sufficient funding from governments, parent organizations, or investors would offer lucrative growth opportunities for businesses operating in the global biopreservation market. The region's expanding population, growing consciousness regarding the preservation of stem cells, and continuous progress in the medical field, mostly as a result of government funding.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global biopreservation market include Thermo Fisher Scientific Inc., Merck KGaA, Avantor, Inc., ThermoGenesis Holdings, Inc., Bio-Techne Corporation, BioLife Solutions, Inc., Exact Sciences Corporation, Worthington Industries, Inc., Chart Industries, Inc., STEMCELL Technologies, Helmer Scientific Inc., So-Low Environmental Equipment Co., PrincetonCryo, AMS Biotechnology (AMSBIO), and OPS Diagnostics and others.
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Recent Developments
- In April 2024, Thermo Fisher Scientific has unveiled its new line of high-performance, ultra-low temperature (ULT) freezers. With improvements to performance, user experience, and energy economy, the Thermo Scientific TSX Universal Series ULT Freezers easily adapt to scientists' workflows in a range of lab environments, ushering in a new era of performance, dependability, and sustainability.
- In September 2023, Avantor has signed a deal with Tobin Scientific, a major provider of biopharma cold chain, ambient storage, and transport and logistics services, to assist end-to-end movements for US biopharma customers wishing to relocate their labs, research facilities, and samples. This alliance will address the growing customer need for complicated logistics solutions with temperature-specific requirements.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global biopreservation market based on the below-mentioned segments:
Global Biopreservation Market, By Product
- Media
- Equipment
- Accessories
Global Biopreservation Market, By Application
- Research
- Therapeutic
Global Biopreservation Market, By End Users
- Regenerative medicine
- Bio- banking
- Gene bank
- Hospitals
- Drug discovery
Global Biopreservation Market, By Regional
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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