Biopreservation Market Forecasts to 2028 - Global Analysis By Type (Biopreservation Media and Biopreservation Equipment), By Biospecimen (Human Tissue Samples, Organs, Stem Cells and Other Biospecimens), By Product, By Technology, By Application, By End U

Biopreservation Market Forecasts to 2028 - Global Analysis By Type (Biopreservation Media and Biopreservation Equipment), By Biospecimen (Human Tissue Samples, Organs, Stem Cells and Other Biospecimens), By Product, By Technology, By Application, By End User and By Geography

According to Stratistics MRC, the Global Biopreservation Market is accounted for $2.06 billion in 2022 and is expected to reach $8.59 billion by 2028 growing at a CAGR of 26.9% during the forecast period. In order to preserve biological material, natural flora and its antimicrobial compounds are used in the process of biopreservation. In order to maintain biological material or food products for an extended period of time, biopreservation is crucial in the healthcare and food industries.

According to the US Food and Drug Administration (FDA), The department has approved 16 personalized medicines in the year 2017, which accounts for 20% of total drug approvals.

Market Dynamics:

Driver:

Rise in biobanks

Over the forecast period, an increase in biobanks is anticipated to fuel market expansion for biopreservation. For instance, the New York-Presbyterian Hospital and Columbia University Vagelos College of Physicians and Surgeons in the United States established the COVID-19 Biobank in March 2020 as a centralised repository for the collection, storage, and distribution of biological specimens and clinical data for researchers at Columbia University and elsewhere.

Restraint:

Restricting the storage of biospecimens

The development of media solutions that permit the storage of biospecimens at room temperature is estimated to hamper the expansion of the global biopreservation industry. For instance, room-temperature sample stabilisation media such as DNA Stable and RNA Stable are provided by Biomatrica, Inc. Such alternatives limit market expansion by jeopardising the demand for freezers and refrigerators.

Opportunity:

Availability of adequate funding

Players in the worldwide biopreservation market might anticipate benefiting from attractive expansion potential if sufficient funding is made accessible from venture capitalists, governments, or parent organisations, coupled with patient education. Additionally, players in the global biopreservation market have a huge amount of opportunity in new and fast-growing countries like China, Brazil, India, Eastern Europe, the Middle East, and Latin America. This is because economic growth in these regions has given the population greater purchasing power because disposable incomes have increased.

Threat:

Temperature accuracy may restrain industry progression

The industry landscape is significantly constrained by the need for room temperature storage technologies. In the United States, for instance, vaccines save around 3 million lives a year; however, due to improper refrigeration and storage, vaccines worth about 20 million dollars are damaged or dumped. Tissue or cell damage from freezing and thawing is a common side effect, which is harming the market's sustainability.

Covid-19 Impact:

Due to the expanded efforts in research and development by pharmaceutical and biotech businesses to produce and manufacture a vaccine that required biopreservation, COVID-19 had a significant impact. Due to the disruption in the supply and demand chains caused by the decline in product consumption, the COVID-19 pandemic had a negative impact on the biopreservation business. However, the demand for the COVID-19 vaccine and treatment medicines surged as a result of the limits being removed as a result of the decrease in coronavirus cases, which fueled the growth of the industry across the board.

The regenerative medicines segment is expected to be the largest during the forecast period

During the projection period, regenerative medicines are anticipated to account for the largest share because they can regenerate, replace, and repair tissues and organs that are damaged by disease, injury, or the ageing process. These medications can help cells and tissues function properly and are used to treat a variety of degenerative conditions, including dermatology, neurological diseases, cardiovascular conditions, and orthopaedic situations.

The biopreservation media segment is expected to have the highest CAGR during the forecast period

Because it is an integral part of the biopreservation process, the biopreservation media segment is anticipated to rise at a lucrative CAGR throughout the forecast period. Additionally, the ability to investigate, diagnose, monitor, and treat health disorders—which are expected to drive the market in the forecast period—is improved by media apps' increased features and details that enable researchers to access and exchange research analysis and data.

Region with largest share:

Due to the demand for the preservation of blood and solid tissue specimens, including paraffin-embedded or frozen bio-specimens of tumours and other tissues (like peripheral blood cells, bone marrow, and cord blood and its derivatives), across various research institutes, pathological centres, and hospitals, the demand is expected to increase during the projection period, and the North American region is expected to dominate the market.

Region with highest CAGR:

Because of the rise in biomedical research and the development of cutting-edge therapeutics, North America is predicted to have lucrative growth over the projection period. Additionally, the region's market presence is strengthened by the increased occurrence of chronic diseases that require therapies. Such operations are anticipated to support growth by expanding the variety of biopreservation products accessible on the market. Moreover, the penetration of biopreservation techniques is expected to increase significantly in the U.S. during the projection period as a result of government agencies and other biobanking institutions.

Key players in the market

Some of the key players in Biopreservation market Include Biomatrica, Inc., Azenta Us, Inc., Mve Biological Solutions, Biolife Solutions, Labvantage Solutions, Inc., Taylor-Wharton, Thermo Fisher Scientific, Inc., Panasonic Corporation, Princetoncryo, X-Therma Inc., Stirling Ultracold.

Key Developments:

In October 2022, Azenta, Inc. acquired B Medical Systems S.á r.l and its subsidiaries, a provider of temperature-controlled storage and transportation solutions that enables the delivery of life-saving treatments across the globe.

In July 2022, Cellutions BioStorage, a research-to-launch Cryopreservation Bank, was inaugurated in Chennai, India. It is a full-service biomaterial storage and logistics provider that works with biopharmaceutical firms looking to outsource all aspects of supply chain management throughout the course of a product's life cycle. The recently-launched facility is spread over 25,000 square feet and has top-notch infrastructure.

Types Covered:
• Biopreservation Media
• Biopreservation Equipment

Biospecimens Covered:
• Human Tissue Samples
• Organs
• Stem Cells
• Other Biospecimens

Products Covered:
• Equipment
• Laboratory Information Management System (LIMS)

Technologies Covered:
• Drug Discovery
• Regenerative Medicine

Applications Covered:
• Therapeutic Applications
• Research Applications
• Clinical Trials
• Other Applications

End Users Covered:
• Biobanks
• Hospitals
• Gene Banks
• Other End Users

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements