IMARC Group, a leading market research company, has recently releases report titled “Biopreservation Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global biopreservation market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How big is the biopreservation market?
Market Size in 2022
US$ 6.9 Billion
Market Forecast in 2028
US$ 13.5 Billion
Growth rate (2023 to 2028)
CAGR of 11.7%
Base Year of the Analysis
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What is Biopreservation?
Biopreservation involves the utilization of natural or controlled antibacterial substances to preserve and store diverse biospecimen, including cells, plasma, saliva, tissues, and organs, outside of their natural habitat. In this procedure, fermentation products and beneficial bacteria are carefully chosen to minimize spoilage and neutralize harmful pathogens. The selected organisms of particular interest possess antimicrobial properties that enhance the distinct flavor and texture of food products. It relies on specialized equipment like freezers, refrigerators, and liquid nitrogen banks to maintain the integrity and durability of biological materials, thereby prolonging their viability. It exhibits several advantageous qualities, such as being non-toxic, non-immunogenic with broad bactericidal properties, and resistant to high temperatures. It is employed in the food industry to enhance the shelf life of various products due to its ability to combat microbial activity and prevent the growth of pathogens on food items. As a result, biopreservation finds extensive applications in healthcare facilities across the globe for different medical applications, including the storage of clinical trial materials, genomics research, organ transplantation, cell-based studies, and personalized medicine.
What are the growth prospects and trends in the biopreservation industry?
Current Trends Shaping the Biopreservation Market
The global biopreservation market is primarily driven by the increasing utilization of biospecimens in medical research and development (R&D) projects to create innovative therapies and drugs due to the growing demand for regenerative medicines and treatments that aim to restore the normal functionality of damaged tissues. Moreover, the rising incidence of chronic ailments, such as cancer, diabetes, neurological disorders, and degenerative conditions, is positively influencing the market growth. Along with this, the expanding geriatric population, which is more prone to developing such diseases that incur substantial medical expenses, is another major growth-inducing factor.
Additionally, the increasing prevalence of biobanking practices and ongoing technological advancements in biopreservation equipment are propelling the market growth. Besides this, several favorable government policies that support stem cell therapies have accelerated the product adoption rate. Furthermore, there has been a rise in the trend of preserving cord blood stem cells from newborns and an increase in investments in regenerative medicine research. In addition, extensive funding by companies to support biopreservation-based pharmaceutical firms in meeting the augmenting demand for tissue and cell preservation is contributing to the market growth. Apart from this, the rising funding assistance from public and private agencies in healthcare has catalyzed market growth. Other factors, including the continuous introduction of new products, rapid improvements in medical infrastructure, rising adoption of in-house sample storage in hospitals and labs, and significant growth in the pharmaceutical sector, are also anticipated to drive the market further.
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What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Product Type:
- Biopreservation Equipment
- Biopreservation Media
Breakup by Application:
- Therapeutic Applications
- Biobank Applications
- Drug Discovery Applications
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
- BioLife Solutions, Inc.,
- Thermo Fisher Scientific Inc.,
- VWR International, LLC,
- Panasonic Corporation
- BioCision LLC.
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