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Global Biopreservation Market to Grow at 11.9% During 2022-2027, Impelled by Increasing Demand for Regenerative Medicines

Published on Dec 20, 2021

According to the latest report by IMARC Group, titled "?Biopreservation?Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,"?the global biopreservation market size reached US$ 6.1 Billion in 2021. Biopreservation refers to the process of preserving products while extending their shelf life. It is generally adopted in a laboratory setup that involves the use of multiple natural substances, including antimicrobials and microbiota, that aids in preventing the growth of pathogenic microbes. It also helps extend the function of biological materials, including plasma, stem cells, tissues, and deoxyribonucleic acid (DNA). As a result, it is extensively utilized by research professionals to retain the integrity and functionality of sperms, eggs, and embryos for research purposes. Apart from this, it also helps in eliminating the need for an organ transplant by restoring the damaged cells via cellular components.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.??? 

Global?Biopreservation?Market Trends:

The global market is primarily driven by significant growth in the healthcare sector. Along with this, the increasing incidences of chronic illnesses among the masses have propelled the demand for regenerative medicines. This, in turn, has provided a boost to the adoption of the biopreservation method across the globe. Moreover, continual advancements in biotechnology have positively influenced the market growth on the global level. For instance, the widespread adoption of nanotechnology in the biopreservation process is acting as a growth-inducing factor. Furthermore, the rising investments by public and private firms to upgrade the existing healthcare infrastructure is acting as one of the key factors driving the market growth. The market is further driven by the emerging clinical needs and the advent of virtual biobanks. Other factors, including continual improvements in bioengineering and molecular biology and extensive research and development (R&D) activities, are also projected to drive the market growth further. On account of the aforementioned factors,?the market is anticipated to grow at a CAGR of?11.9% during the forecast period (2022-2027).?

Market Summary: 

  • On the basis of the product type, the market has been segmented into biopreservation equipment and biopreservation media. Among these, biopreservation equipment represents the largest segment.
  • Based on the application, the market has been categorized into biobanking, therapeutic applications and drug discovery.
  • On the basis of the region, the market has been divided into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
  • The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of these players include BioLife Solutions, Inc., Thermo Fisher Scientific Inc., VWR International, LLC, Panasonic Corporation and BioCision LLC. ?   

 

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