The market for biopreservation was valued at USD 1.94 billion in 2022 and is projected to grow at a compound annual growth rate of 28.8% to reach approximately USD 24.23 billion by 2032.
Biopreservation is the increase in the shelf life and developed safety of foods, using the controlled or natural antimicrobial or microbiota compounds. It is the ecological and harmful method to deal with food preservation problem and is getting the attention in the current years. Growth in the demand for the developed methods of preservation and is continuously increasing the spending on healthcare is expected to boost the biopreservation market.
Pharmaceutical companies, biotechnology firms and hospitals are gradually accepting the systems for the in-house storage of the samples and is projected to offer a substantial growth to the global biopreservation market. Increasing the investments in the R&D activities by the research communities and companies are motivated to develop the capabilities of the product is increasing the biopreservation market with large potential. Developments in the technology like virtual bio-banks are expected to experience a substantial increase in the application, results in the biopreservation market growth. Moreover, rise in the preference of maintaining the repositories of biological specimen in the regenerative medicine and organ transplantation has promoted the biopreservation industry. With the help of initiatives by government like International Society of Biological and Environmental Repositories to augment the standards of preservation, practices and bio-banking is increasing the possibility for the growth of biopreservation market during the forecast period.
Rise in the expenditure for healthcare is expected to develop the healthcare quality and developed products involve the facilities of biopreservation, by widening the growth of biopreservation market. Moreover, gene banks, bio-banks and hospitals are the substantial consumers for biopreservation industry are influencing the manufacturers to produce the technologically developed products of biopreservation to increase the outcomes of patient and enhance the biopreservation market in the coming future.
With the help of several initiatives by government in healthcare are providing the grants, contracts and funds for research results in offering the growth to R&D activities set by several companies. This results in increasing the opportunity for implementing the developed services of bio-preservation, is projected to boost the growth of biopreservation market over the forecast period. Growth in the investments of R&D by research communities and companies to expand their effective products, services and capabilities is anticipated to increase the growth of biopreservation market. For example, formation of Cooperative Human Tissue Network are addressing the measurement of bio-banking, illustrates the continuous efforts by the community of research.
Global biopreservation market is segmented into cell provider outlook, application, product outlook and region. On considering the cell provider outlook, market is divided into tumor cells, hESC, iPSC, MSC, CD19+, CD34+ and more. Based on application, market is divided into drug discovery, bio-banking and regenerative medicine. Bio-banking is further divided into veterinary IVF, human sperm and human eggs whereas regenerative medicine is sub-divided into gene therapy, cell therapy and more. On the basis of product outlook, market is divided into laboratory information management system, media and equipment.
Geographically, regions involved in the development of biopreservation market size are Europe, North America, Latin America, Asia Pacific and Middle East & Africa. U.S biopreservation market is dominating the North America and is propelled to increase the biopreservation industry in the coming years. Asia Pacific is estimated to hold the largest biopreservation market share over the forecast period.
Key players involved in the global biopreservation market are LabVantage Solutions, Thermo-Fischer Scientific, Custom Biogenic Systems, Biomatrica, Qiagen and more.
Biopreservation Market Scope :
|Revenue forecast in 2032
|USD 24.23 billion
|CAGR of 28.8 % during 2022-2032
|By Application, By Cell Provider, Product, Regions
|North America, Europe, Asia Pacific, South America, Middle East and Africa
|Key Players Profiled
|LabVantage Solutions, Thermo-Fischer Scientific, Custom Biogenic Systems, Biomatrica, Qiagen and more.
Key Segments in the “Global Biopreservation Market” are-
By Cell Provider Outlook, market is segmented into:
- Tumor cells
By Application, market is segmented into:
- Drug discovery
- Veterinary IVF
- Human sperm
- Human eggs
- Regenerative medicine
- Gene therapy
- Cell therapy
By Product Outlook, market is segmented into:
- Laboratory information management system
By Regions market is segmented into:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa