Global Biopreservation Market Size 2024, Forecast To 2033
6 Mar, 2024
The biopreservation market market size has grown rapidly in recent years. It will grow from $5.36 billion in 2023 to $5.98 billion in 2024 at a compound annual growth rate (CAGR) of 11.7%. The growth in the historic period can be attributed to biobanking expansion, rise in stem cell research, growing organ transplantation procedures, biopharmaceutical production, cell therapy advancements. The biopreservation market market size is expected to see rapid growth in the next few years. It will grow to $9.61 billion in 2028 at a compound annual growth rate (CAGR) of 12.6%. The growth in the forecast period can be attributed to increasing demand for regenerative medicine, R&D in personalized medicine, cryopreservation applications, global biopharmaceutical supply chain, emerging biobanking initiatives. Major trends in the forecast period include growing application in stem cell banking, focus on advanced preservation solutions, expansion in drug discovery and development, introduction of portable biopreservation devices, growing importance in organ transplantation.
Global Biopreservation Market Key Driver
Increasing demand for personalized medicine is significantly contributing to the growth of the biopreservation market. Personalized medicine is used to treat patients with diseases specific to them. Personalized medicines are developed with the help of biobanks, which preserve human tissues and cells using biopreservation. For instance, in September 2021, the Swedish Government invested SEK 220 million ($1.87 million) in the Swedish national infrastructure of Genomic Medicine Sweden (GMS) to make it easier to keep integrating precision medicine into Swedish healthcare. It ensures that every person can access more accurate tests and individualized care. Such investments are taking place due to a rise in demand for personalized medicines. Thus, the increasing demand for personalized medicine is expected to propel the biopreservation market growth going forward.
Get A Free Sample Of The Global Biopreservation Market ReportGlobal Biopreservation Market Segments
The biopreservation market market covered in this report is segmented –
1) By Type: Biopreservation Equipment, Biopreservation Media
2) By Biospecimen: Human Tissue Samples, Organs, Stem Cells, Other Biospecimens
3) By Application: Therapeutic Applications, Research Applications, Clinical Trials, Other Applications
4) By End User: Biobanks, Gene Banks, Hospitals, Other End Users
By Geography:The regions covered in the biopreservation market market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
North America was the largest region in the biopreservation market share in 2023. The regions covered in the biopreservation market market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Biopreservation Industry Players
Thermo Fisher Scientific Inc., BioLife Solutions Inc., VWR International LLC, Exact Sciences Corporation, BioCision LLC, Lifeline Scientific Inc., Biomatrica Inc., Custom Biogenic System Inc., QIAGEN NV, ThermoGenesis Holdings Inc., MVE Biological Solutions LLC, Taylor-Wharton America Inc., X-Therma Inc., Cesca Therapeutics Inc., Core Dynamics Ltd., The Merck Group, Azenta US Inc., Avantor Inc., Bio-Techne Corporation, Worthington Industries Inc., Chart Industries Inc., Cryoport Inc., LabVantage Solutions Inc., Brooks Automation Inc., BioVault Technical Ltd., Biomatik Corporation, Biostorage Technologies Inc., Arctiko A/S, Trane Technologies plc, Eppendorf AG, Panasonic Healthcare Co. Ltd., BioSpherix Ltd.
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Biopreservation Market Overview
Biopreservation is defined as the use of microorganisms and their metabolic byproducts to increase food safety and shelf life. It is used to preserve biospecimens for a longer period and shield them from any harm outside their native environment. Biospecimens are samples of materials such as urine, blood, tissue, cells, DNA, and others that are kept in a biorepository for future research or utilized for a lab test.
Biopreservation Global Market Report 2023 provides data on the global biopreservation market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The biopreservation market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.