The latest market report published by Credence Research, Inc. “Global Biopreservation Market: Growth, Future Prospects, and Competitive Analysis, 2016 – 2028”. The global biopreservation market is anticipated to grow at a substantial CAGR of 27.8% in the upcoming years. The global Biopreservation industry was estimated to be worth USD 2 billion in 2022 and is expected to be USD 11.1 billion by 2030.
Biopreservation relies on various techniques and storage solutions, such as cryopreservation (freezing biological samples at extremely low temperatures, often using liquid nitrogen), lyophilisation (freeze-drying), and the use of chemical preservatives. It also requires specialized equipment, including cryogenic storage systems, refrigerators, freezers, and liquid nitrogen storage tanks.
North America dominated the global biopreservation market in 2022. North America has a well-established healthcare infrastructure and a strong presence of research institutions and biotechnology companies, which drives the demand for biopreservation solutions. Additionally, the region has favorable government initiatives and policies supporting research and development in the life sciences sector, further fostering the growth of the biopreservation market. Moreover, North America has a high prevalence of chronic diseases, increasing the need to preserve biological samples for diagnostic and therapeutic purposes. The presence of advanced healthcare facilities and a robust regulatory framework also contribute to the dominance of North America in the biopreservation market.
The global Biopreservation Market is bifurcated into Application, Product and Geography. Based on End-users the market is categorized into Regenerative Medicine, Cell Therapy, Gene Therapy, Bio-banking, Human Eggs & Human Sperms. Based on Product the market is categorized into Equipment, Freezers, Refrigerators, Consumables, Liquid Nitrogen & Media. Based on geography, the market is categorized as North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
The Biopreservation Market Drivers are a set of factors that have significantly contributed to the growth and development of the biopreservation industry. One key driver is the increasing demand for personalized medicine, which requires the use of preserved biological materials such as stem cells, tissues and organs. In addition, advancements in technology and research have led to better preservation techniques, enabling prolonged storage periods without compromising on quality or functionality. Another important factor is the rising need for drug discovery and development, where biopreservation plays a crucial role in maintaining pharmaceuticals’ potency throughout their lifespan.
Biopreservation Market Top Report Findings:
- Market Growth: The biopreservation market has been experiencing steady growth due to the increasing demand for biobanking, regenerative medicine, and personalized medicine. The market is driven by factors such as the rising prevalence of chronic diseases, advancements in biobanking techniques, and growing investments in healthcare infrastructure.
- Biobanking Segment: Biobanking, which involves the storage and preservation of biological samples, represents a significant portion of the biopreservation market. Biobanks are crucial for medical research, drug discovery, and personalized medicine. The increasing focus on precision medicine and genetic research has fueled the growth of the biobanking segment.
- Technological Advancements: Technological advancements have played a vital role in the development of biopreservation techniques. Innovations such as automated storage systems, advanced cryopreservation methods, and improved thawing techniques have enhanced sample integrity and viability, thus driving market growth.
- Rising Demand for Stem Cell Preservation: The demand for stem cell preservation has been increasing significantly. Stem cells have immense potential in regenerative medicine, and their preservation is crucial for future therapeutic applications. Biopreservation techniques ensure the long-term storage and viability of stem cells for research and clinical purposes.
- Growing Awareness and Government Support: Increasing awareness regarding the benefits of biopreservation, coupled with government initiatives to promote biobanking and research, have positively influenced market growth. Supportive regulations, funding for biobanks, and collaborations between academic institutions and industry players have contributed to market expansion.
- Challenges: Despite the positive growth prospects, the biopreservation market faces certain challenges. These include the high cost of advanced preservation techniques, ethical and legal considerations associated with sample storage and use, and the lack of standardization in biobanking practices.
- Regional Market Trends: North America has traditionally held a significant market share in the biopreservation industry, driven by a strong presence of pharmaceutical and biotechnology companies, robust research infrastructure, and government support. However, the market is also witnessing growth in regions like Europe, Asia Pacific, and Latin America due to increasing investments in healthcare and rising awareness about personalized medicine.
Why to Buy This Report-
- The report provides a qualitative as well as quantitative analysis of the global Biopreservation Market by segments, current trends, drivers, restraints, opportunities, challenges, and market dynamics with the historical period from 2016-2020, the base year- 2021, and the projection period 2022-2028.
- The report includes information on the competitive landscape, such as how the market’s top competitors operate at the global, regional, and country levels.
- In-depth analysis of the global market segmentation on the basis of Application and Product
- Major nations in each region with their import/export statistics
- The global Biopreservation Market report also includes the analysis of the market at a global, regional, and country-level along with key market trends, major players analysis, market growth strategies, and key application areas.
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