New York, Sept. 08, 2020 (GLOBE NEWSWIRE) -- The global Biopreservation Market is forecast to reach USD 5.63 Billion by 2027, according to a new report by Reports and Data. A rise in the incidence of chronic diseases, such as renal, cardiac, cancer, and diabetes, will propel the demand for the market.
According to the International Diabetes Federation (IDF), approximately 463 million adults, in 2019, were living with diabetes, and by the year 2045, the number is expected to rise to 700 million. The disease led to 4.2 million deaths and caused the healthcare sector USD 760 billion. Cancer caused almost 9.6 million deaths in 2018. The number of cases is expected to rise to 30 million by 2040 from 18 million in 2018.
Moreover, factors like varying disease patterns, increasing awareness among the population for general wellness and overall healthcare, flexible government policies and regulations together with the applicability of stem cells in research centers focusing on cancer treatment is estimated to escalate the market demand across regions in the upcoming years.
North America dominates the market owing to the increasing number of manufacturers in the region, the spread of infectious diseases, improved healthcare infrastructure, and the development of various new products. Increasing the production of innovative products and the growth of manufacturers in their countries has led Europe to expand its global presence in the industry supported by mergers and acquisitions that are increasing the global presence of European market players.
Get FREE Sample Copy with TOC of the Report to understand the structure of the complete report@ https://www.reportsanddata.com/sample-enquiry-form/3470
The Covid-19 Impact
The market will witness a huge surge as biopharmaceutical innovators are in the front line for the human response to the global COVID-19 pandemic. A significant number of biotech firms are in the middle of the race to investigate the virus's genome and are preparing a viable vaccine. These companies are investigating the virus at an unprecedented rate, and considerable funds are being put into the research. The companies are in trial stage, and the public and private sectors are working continuously for the development of the vaccine. Cash inflow for research in the healthcare sector to find a cure for infectious and autoimmune diseases will aid the market in growth.
Further key findings from the report suggest
- The demand for biospecimen equipment is growing due to its extensive application in plasma, stem cells, DNA, and tissue research. The surge in adoption can also be accredited to certain benefits such as high-cost efficiency, storage capacity, and low maintenance.
- Stem cells are used in regenerative medicine, especially in the field of dermatology. The market for stem cell is witnessing an increased growth owing to the increased number of clinical trials across the globe.
- Successful clinical and commercial applications of biospecimens require practical and robust cryopreservation protocols. Stem cells are notoriously sensitive to cryopreservation, which required specialized protocols to maintain the optimal cell viability and recovery.
- The number of Biopreservation banks is increasing in developing nations, which is further driving the market growth. Also, increasing awareness regarding the storage of stem cells has had a positive effect on the market. The market is still at a nascent stage, but it holds potential in both therapeutic and diagnosis fields.
- North America is expected to account for a significant share of the global Biopreservation market. The United States will be the primary contributor and is likely to witness high growth due to the huge amount of funding by the government and private firms for clinical trials. The region is forecasted to grow with a CAGR of 9.0% during the forecast period.
- Key participants include Merck KGaA, ThermoGenesis Holdings, Inc., Thermo Fisher Scientific Inc., Avantor, Inc., Bio-Techne Corporation, Exact Sciences Corporation, BioLife Solutions, Inc., and Worthington Industries, Inc., BioCision, and Chart Industries, Inc., among others.
To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/biopreservation-market
For the purpose of this report, Reports and Data have segmented into the global Biopreservation market on the basis of the type, biospecimen, application, end-users, and region:
Type Outlook (Revenue, USD Billion; 2017-2027)
- Biospecimen Equipment
- Biopreservation Media
- Cryogenic Storage Systems
- Freezers
- Refrigerators
- Thawing Equipment
Biospecimen Outlook (Revenue, USD Billion; 2017-2027)
- Organs
- Human Tissue Samples
- Stem Cells
- Others
Application Outlook (Revenue, USD Billion; 2017-2027)
- Research Applications
- Therapeutic Applications
- Clinical Trials
- Others
End Users Outlook (Revenue, USD Billion; 2017-2027)
- Gene Banks
- Biobanks
- Hospitals
- Others
BUY NOW (Customized Report Delivered as per Your Specific Requirement)@ https://www.reportsanddata.com/checkout-form/3470
Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- MEA
- Saudi Arabia
- UAE
- Rest of MEA
Take a Look at our Related Reports:
Bioprosthetics Market: The increasing prevalence of rheumatoid heart disease, coronary and peripheral artery diseases, and other cardiovascular diseases have led to the increasing demand for long-term treatment and relief, factors that are anticipated to drive bioprosthetics market growth.
Stone Treatment Devices Market: Factors such as mounting geriatric populace, an expansion in the frequencies of stone formation, upsurge in the recurrence of the stone after a medical procedure, a tendency towards minimally invasive procedures are expected to propel the industry in the coming years.
Automated Insulin Delivery Systems Market: Automated Insulin Delivery Systems is an user friendly technology that regulate blood glucose level with the help of continuous glucose monitoring.
Cerebrospinal Fluid (CSF) Management Market: The unique nature of cerebrospinal fluid dynamics in each patient has challenged neurologists, neurosurgeons, and medical device developers. This has led to cumulative demand for advanced cerebral spinal fluid (CSF) management devices.
Sacral Neuromodulation Market: A rise in the prevalence of overactive bladder & urge continence among masses along with the expansion of the geriatric population base across the globe is the key factor driving the market growth.
Central Venous Catheters Market: Catheters are an efficient delivery mechanism for surgical procedures. These are medical devices, which are used for the treatment of a large number of cardiovascular diseases and other chronic disorders.
About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power, and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.
Reports And Data | Web: www.reportsanddata.com
Direct Line: +1-212-710-1370
E-mail: sales@reportsanddata.com