According to the latest report by IMARC Group, titled “Biopreservation Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, the global biopreservation market size reached US$
6.9 Billion in 2022. Bio-preservation refers to a technique that aids in extending the shelf life of food by using natural or controlled microbiota or antimicrobials. A variety of biospecimens, such as cells, plasma, saliva, tissues, and organs, are preserved and banked using natural or controlled antibacterial products. During this process, fermentation products and beneficial bacteria are typically selected to reduce spoilage and render pathogens inactive. The special interest organisms used here can exhibit antimicrobial properties, which help in imparting unique flavor and texture to the food products. Biopreservation is non-toxic and non-immunogenic, with broad bactericidal activities and thermo-resistance properties.
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 the rising usage of biospecimens in medical research and development (R&D) activities for manufacturing novel therapies and drugs. This can be attributed to the escalating demand for regenerative medicines and therapies to restore the normal functioning of damaged tissues. In line with this, the rising occurrences of chronic ailments, including cancer, diabetes, neurological disorders, and degenerative conditions, are providing an impetus to the market. The rising geriatric population that is susceptible to developing these ailments resulting in massive medical expenditure is also creating a positive market outlook for biopreservatives. The market is further propelled by the augmenting prevalence of biobanking, along with continual technological advancements in biopreservation equipment. Some of the other factors contributing to the market include favorable government policies supporting stem cell therapies, increasing product innovations, rapid improvements in medical infrastructure, and considerable growth in the pharmaceutical sector. On account of the aforementioned factors, the market is anticipated to reach a value of US$
13.5 Billion by 2028, exhibiting a CAGR of 11.7% during 2023-2028.
- Based on the product type, the market has been segmented into biopreservation equipment and biopreservation media.
- On the basis of the application, the market has been divided into therapeutic applications, biobank applications, and drug discovery applications.
- On the geographical front, the market has been segregated into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of these players include BioLife Solutions, Inc., Thermo Fisher Scientific Inc., VWR International, LLC, Panasonic Corporation and BioCision LLC.
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