Global Biostorage Service Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029
Biostorage services refer to the storage and management of biological materials such as cells, tissues, blood, DNA, and other biological samples under controlled conditions to maintain their viability, stability, and integrity. These services typically involve the use of specialized equipment and facilities, such as freezers, refrigerators, liquid nitrogen tanks, and temperature monitoring systems, to maintain the samples at specific temperature ranges and conditions. Biostorage services are critical for various research, clinical, and diagnostic applications, where the quality and availability of biological samples are paramount.
Market Overview:The latest research study on the global Biostorage Service market finds that the global Biostorage Service market reached a value of USD 360.54 million in 2022. It’s expected that the market will achieve USD 874.42 million by 2028, exhibiting a CAGR of 15.91% during the forecast period.
Impact of Russia and Ukraine War
The impact of the Russo-Ukraine war on the world economy is mainly manifested in hindering the recovery of the world economy; encouraging the rise of anti-globalization trends; global economic governance is in trouble. The Russia-Ukraine war jeopardizes the recovery of the world economy from the COVID-19 pandemic, and countries around the world are facing many challenges such as inflation, food security, energy security, and supply chain pressure. The global economy is expected to slow further in the coming year as the massive and historic energy shock triggered by Russia’s war of aggression against Ukraine continues to spur inflationary pressures, sapping confidence and household purchasing power and increasing risks worldwide, according to the OECD’s latest Economic Outlook. The OECD predicts that due to the impact of the Russia-Ukraine war, global economic growth will drop by 1.1 percentage points and inflation will rise by 2.5 percentage points.
The impact of the Russia-Ukraine war on the biological storage service industry is that material prices and equipment costs have risen, logistics has been hindered, and downstream demand in the Russia-Ukraine region has been affected.
The Russia-Ukraine war led to a rise in crude oil prices, which in turn led to an overall rise in the prices of metal and chemical bulk commodities. Inflation rates in various countries remain high, prices rise as a whole, and equipment and materials for bio-storage services are also facing price increases. After the outbreak of COVID-19, global transportation has been severely affected. The Russian-Ukrainian conflict has exacerbated the transportation problem, affecting both land, sea and air transportation. Disruption of transportation will affect the safety of the industry's supply chain, and changes in transportation routes will also increase transportation costs. Finally, affected by the Russian-Ukrainian war, medical research and pharmaceutical production in the Russian-Ukrainian region were affected or interrupted, and the number of clinical trials decreased, resulting in reduced demand for biological storage services. In addition, the branches of multinational companies and scientific research institutions in the region are facing closure and business transfer, and downstream demand is affected.
The rise of outsourcing of biostorage services
Outsourcing of biostorage services has become an important trend for pharmaceutical and biotechnology companies, mainly due to the need to reduce costs and improve operational efficiency. Because managing a biobank or biobank can be expensive and resource intensive. By outsourcing these services to specialized third-party suppliers, companies can benefit from the supplier's expertise and economies of scale, resulting in cost savings and increased efficiency. Additionally, outsourcing allows companies to focus on their core competencies, such as drug discovery and development, which can help companies accelerate their drug development timelines and bring their products to market faster. At the same time, outsourcing biostorage services enables access to a wider range of expertise and technology. Third-party providers often have access to the latest technologies and best practices in biostorage, which help ensure the highest quality and standards of stored samples.
Industry competition is becoming increasingly fierce With the increasing demand for personalized medicine and the increasing importance of genetics research, the biological storage service industry has been developing in recent years, and the competition in the industry has become increasingly fierce, with many companies entering the market and providing similar services. The terminal application of biological storage services needs to gain the trust of users such as scientific research institutions, hospitals, and pharmaceutical companies. Mature companies that enter the market first can rely on their own dominant position in the market to squeeze out the living space of new entrants. At the same time, through active supply chain management, after the brand is recognized, recommend other R&D services to customers to expand service categories. New entrants face high barriers to entry when facing mature companies with high brand awareness. To remain competitive in this industry, companies within the industry must address the unique needs of their customers by offering high-quality services, competitive prices, and innovative solutions. Additionally, companies must also stay up-to-date with the latest technological advancements and regulatory requirements in the field. This includes investing in state-of-the-art storage facilities, adopting best practices for sample handling and storage, and ensuring compliance with relevant regulations, such as those set by the FDA and other regulatory bodies.
Region Overview:North America was the largest revenue market with a market share of 40.72% in 2018 and 40.42% in 2023, a decrease of 0.29%. In 2023, Europe market share was 27.36%, ranking second.
Company Overview:Azenta
Brooks Life Sciences Services and Products business is renamed Azenta Life Sciences. Azenta is dedicated to helping life sciences organizations around the world bring impactful breakthroughs and therapeutics to market faster.
Azenta Life Sciences embodies the company's commitment to helping customers reach new heights in the pursuit of scientific advancement. By integrating Azenta's industry-leading capabilities, the Azenta Life Sciences enterprise-wide sample discovery and management solution will accelerate discovery, development and delivery with greater speed and precision. Azenta is constantly elevating each other, our clients' work and Azenta's industry - building a healthier world for people everywhere.
Cryoport
Cryoport is the life sciences industry’s most trusted provider of temperature-controlled supply chain solutions, serving biopharmaceutical, IVF and surrogacy, and animal health organizations around the world. Cryoport’s proprietary Cryoport Express® liquid nitrogen dry vapor shippers, innovative C3™ 2-8°C solution, Cryoportal® logistics management platform, leading-edge Smartpak II® condition monitoring system and geo-sensing technology paired with unparalleled cold chain expertise, and 24/7/365 customer support, make Cryoport the end-to-end supply chain partner that customer can trust.
Biostorage Service companies are mainly from United States; the industry concentrate rate is relatively high. The market share of the top three companies in 2022 was 34.76%. The top three companies are Azenta, Cryoport and Avantor, with the revenue market share of 15.81%, 11.14% and 7.81% in 2022.
Segmentation Overview:Biostorage services can be classified based on the temperature range and conditions under which the biological materials are stored.
Ambient Storage
This refers to the storage of biological materials at room temperature (15-25°C) under normal atmospheric conditions. Ambient storage is suitable for samples that are stable at room temperature, such as dried blood spots, serum, plasma, and urine samples.
Refrigerated and Frozen Storage
Refrigerated Storage refers to the storage of biological materials at a temperature range of 2-8°C. Refrigerated storage is suitable for samples that require cooling to maintain their stability and prevent degradation, such as blood components, vaccines, and some cell lines.
Frozen Storage refers to the storage of biological materials at sub-zero temperatures, typically ranging from -15°C to -25°C. Frozen storage is suitable for samples that require deep freezing to maintain their viability and stability, such as tissues, cells, and DNA.
Ultra-low Storage
This refers to the storage of biological materials at ultra-low temperatures, typically below -70°C. Ultra-low storage is suitable for samples that require long-term storage and maximum stability, such as stem cells, primary cells, and some virus strains.
By type, Refrigerated and Frozen Storage segment accounted for the largest share of market in 2022.
Application Overview:Life Sciences and Medicine
Biostorage services are critical to companies involved in biomedical research and drug development. Biostorage services are used to store various biological materials, such as cells, tissues, blood, DNA, and other biomolecules, for research and diagnostic purposes. These samples are often used in studies related to cancer, infectious diseases, genetic disorders, and regenerative medicine.
Hospital
Biostorage services are used in hospitals and clinics to store patient samples, such as blood, urine, and tissue, for diagnostic and therapeutic purposes. These samples are critical for diagnosing various diseases and monitoring the progress of treatment.
Government and Scientific Research Institutions
Government and Scientific Research Institutions: Biostorage services are used by government and scientific research institutions to store various biological materials for research and development purposes. These institutions often maintain biobanks, which contain large collections of biological samples for use in research studies.
Chemical Industry
Biostorage services are used in the chemical industry to store various biological materials, such as enzymes and microorganisms, for use in industrial processes, such as fermentation and bioreactor operations.
Others
Biostorage services also have applications in other industries, such as agriculture, environmental sciences, and food sciences, where the storage and preservation of biological materials are critical for research and development purposes.
By application, the Life Sciences and Medicine segment occupied the biggest share from 2018 to 2022.
Key Companies in the global Biostorage Service market covered in Chapter 3:MilliporeSigma
Avantor
SciSafe (BioLife Solutions)
Kryosphere
Cryoport
Tescor
Vigilant Bioservices
Versiti Clinical Trials
BioStorage, LLC
Masy BioServices (Alcami)
Precision Stability Storage
Precision for Medicine
Azenta
In Chapter 4 and Chapter 14.2, on the basis of types, the Biostorage Service market from 2018 to 2029 is primarily split into:Ambient Storage
Refrigerated and Frozen Storage
Ultra-low Storage
Others
In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Biostorage Service market from 2018 to 2029 covers:Life Sciences and Medicine
Hospital
Government and Scientific Research Institutions
Chemical Industry
Others
Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)