Dublin, Aug. 07, 2023 (GLOBE NEWSWIRE) -- The "Biopreservation Market Size, Share & Trends Analysis Report By Product (Equipment, Media, LIMS), By Application (Regenerative Medicine, Bio-banking, Drug Discovery), By Region, And Segment Forecasts, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.
The global biopreservation market size is projected to reach USD 16.61 billion by 2030, registering a CAGR of 28.30% from 2023 to 2030.
The extensive use of preservation in hospitals and labs, rising funding assistance from government and private partners in healthcare, and an upsurge in research and development are fueling the industry growth.
Currently, there has been an upsurge in demand for the use of biopreservation to develop biological products in R&D of various sectors such as immunotherapies, vaccine production, antibody production, enzyme technology, and biologically produced chemicals. This impact is due to the rising number of chronic disease incidences globally. According to the Centers for Disease Control and Prevention (CDC), the leading cause of disease-related mortality in adults is the rising prevalence of cardiovascular disorders and cancer in the U. S.
Furthermore, government and private sectors have shown interest and supported funding activities in research and development, which has contributed to industry growth. In past years, the growing demand for preserving stem cells and developing biological medicines and products has gained investors' focus on the field. This considerable healthcare spending is expected to grow in the market in the forecast period.
The key players are implementing strategic initiatives such as mergers and acquisitions, product development, and business expansions to penetrate the market. In March 2022, Biolife Solutions announced its expansion plan in USD 400 Billion biostorage service market.
The market witnessed a significant setback due to the COVID-19 pandemic with supply chain disruption, constraints in resource allocation, and hindrances in research activities, among other reasons. However, the pandemic has also accelerated the growth of novel biologics, vaccine technologies, and the production of biology-based medicines, and has highlighted the applications of synthetic biology.
Due to these factors, opportunities for biologics manufacturing and preservation are anticipated to increase, thus generating further demand for bio-preservation.
Companies Mentioned:
- Azenta US, Inc.
- Biomatrica, Inc.
- BioLife Solutions
- MVE Biological Solutions
- LabVantage Solutions, Inc.
- Taylor-Wharton
- Thermo Fisher Scientific, Inc.
- Panasonic Corporation
- X-Therma Inc.
- PrincetonCryo
- Stirling Ultracold
Biopreservation Market Report Highlights
- By product, the equipment segment held the largest revenue share of over 78.75% in 2022 due to the rising demand for bio-banking to preserve stem cells, DNA, plasma, and tissue culture. Increasing demand for modified genetic material in the global market is also fueling the growth
- The bio-banking application segment held the largest revenue share in 2022. This can be attributed to rising awareness regarding stem cell preservation, increasing acceptance of sperm and egg banking, and utilization of assistant reproductive technology in animals
- North America dominated the global market in 2022 due to the advancement in biomedical research, the development of advanced therapies, and the upsurge in research activities related to DNA sequencing and bioinformatics
- Asia Pacific is expected to grow considerably in the future owing to rising investments in Asian countries and increasing partnerships and collaborations with key players
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 180 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $2.18 Billion |
| Forecasted Market Value (USD) by 2030 | $16.61 Billion |
| Compound Annual Growth Rate | 28.3% |
| Regions Covered | Global |
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Market Variables, Trends, & Scope
3.1. Market Lineage Outlook
3.1.1. Parent Market Outlook
3.1.2. Related/Ancillary Market Outlook
3.2. Market Dynamics
3.2.1. Market Driver Analysis
3.2.1.1. Increasing Financial Support For Biobanks
3.2.1.2. Growing Demand For Engineered Tissues
3.2.1.3. Growing Healthcare Expenditure Boosting Development Of Effective Personalized Diagnostic & Cell & Gene Therapies
3.2.2. Market Restraint Analysis
3.2.2.1. Ethical & Legal Limitations
3.2.2.2. Lack Of Contribution From Private Organizations
3.3. Industry Analysis Tools
3.3.1. Porter's Five Forces Analysis
3.3.2. PESTEL Analysis
3.3.3. COVID-19 Impact Analysis
Chapter 4. Product Business Analysis
Chapter 5. Application Business Analysis
Chapter 6. Regional Business Analysis
Chapter 7. Competitive Landscape
For more information about this report visit https://www.researchandmarkets.com/r/252jkr
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