Biopreservation Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

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. Looking forward, IMARC Group expects the market to reach US$ 13.5 Billion by 2028, exhibiting a growth rate (CAGR) of 11.7% during 2023-2028.

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.

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global biopreservation market report, along with forecasts at the global and regional level from 2023-2028. Our report has categorized the market based on product type and application.

Breakup by Product Type:

Biopreservation Equipment
Biopreservation Media

Breakup by Application:

Therapeutic Applications
Biobank Applications
Drug Discovery Applications

Breakup by Region:

North America
Asia Pacific
Europe
Latin America
Middle East and Africa

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.

Key Questions Answered in This Report
1. What was the size of the global biopreservation market in 2022?
2. What is the expected growth rate of the global biopreservation market during 2023-2028?
3. What are the key factors driving the global biopreservation market?
4. What has been the impact of COVID-19 on the global biopreservation market?
5. What is the breakup of the global biopreservation market based on the product type?
6. What is the breakup of the global biopreservation market based on the application?
7. What are the key regions in the global biopreservation market?
8. Who are the key players/companies in the global biopreservation market?