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The global biopreservation market reached a value of US$ 6.1 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 12.1 Billion by 2027, exhibiting at a CAGR of 11.9% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
Biopreservation refers to the use of natural or controlled antibacterial products to preserve and bank various biospecimens, such as cells, plasma, saliva, tissues, and organs, outside of its native environment. The equipment comprises freezers, refrigerators, and liquid nitrogen banks that ensures the purity and stability of the biological materials, thereby extending its shelf life. Biopreservation exhibits non-toxic, non-immunogenic, broad bactericidal activity, and thermo-resistance properties due to which, it is being widely adopted in healthcare facilities for various clinical applications, such as storing clinical trial materials, genomics research, organ transplantation, cell-based study, and personalized medicine. Apart from this, it is also employed in the food sector to extend the shelf life of the end-product as it exploits the antimicrobial activities of pathogens on food items.
Biopreservation Market Trends:
The biopreservation market is majorly being driven by the growing use of biospecimens in medical research for developing novel therapies and drugs. In line with this, the rising instances of various chronic diseases, such as cancer and diabetes, degenerative conditions, and neurological disorders, are further facilitating the demand for regenerative medicine, wherein the cellular components of biopreservation are used to restore the normal functioning of damaged tissues. The increasing prevalence of biobanking is also acting as another major growth-inducing factor. Additionally, increasing healthcare expenditure, particularly in emerging economies, along with rapid advancements in biopreservation methods and equipment are further catalyzing the market growth. Moreover, governments of various nations are implementing favorable policies and continuously investing in the research and development (R&D) activities to support stem cell therapies and enhance bio-banking and preservation standards. This, in turn, is creating a positive outlook for the market.
IMARC Group provides an analysis of the key trends in each sub-segment of the global biopreservation market report, along with forecasts for growth at the global and regional level from 2022-2027. Our report has categorized the market based on product type and application.
Breakup by Product Type:
Breakup by Application:
Breakup by Region:
Competitive Landscape:
Some of the major players in the market are BioLife Solutions, Inc., Thermo Fisher Scientific Inc., VWR International, LLC, Panasonic Corporation and BioCision LLC.
The global biopreservation market was valued at US$ 6.1 Billion in 2021.
We expect the global biopreservation market to exhibit a CAGR of 11.9% during 2022-2027.
The growing adoption of biopreservation technology to develop novel therapies and drugs in the field of
medical research, is primarily driving the global biopreservation market.
The sudden outbreak of the COVID-19 pandemic has led to the rising prominence of biopreservation for
preservation of convalescent plasma and formulation of effective drugs against the coronavirus
infection.
Based on the product type, the global biopreservation market has been segmented into biopreservation
equipment and biopreservation media. Currently, biopreservation equipment exhibits a clear
dominance in the market.
Based on the application, the global biopreservation market can be categorized into therapeutic
applications, biobank applications, and drug discovery applications. Among these, biobank applications
currently account for the majority of the total market share.
On a regional level, the market has been classified into North America, Asia Pacific, Europe, Latin
America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global biopreservation market include BioLife Solutions, Inc., Thermo
Fisher Scientific Inc., VWR International, LLC, Panasonic Corporation, and BioCision LLC.
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