Dublin, Jan. 25, 2024 (GLOBE NEWSWIRE) -- The "Global Biopreservation Market Analysis & Forecast to 2023-2033: Market By Product; By Application; By End-user; and By Region" report has been added to ResearchAndMarkets.com's offering.
This report showcases the substantial growth trajectory of the market, projected to expand from USD 3.25 billion in 2023 to a staggering USD 53 billion by 2033. This growth, characterized by a Compound Annual Growth Rate (CAGR) of 28.89%, is driven by multiple factors including technological innovations, increased healthcare spending, and heightened demand across various applications and end-user segments.
At the forefront of this expansion is the Equipment segment, which has been identified as the highest revenue generator due to the growing need for bio-banking of vital biological materials. Another segment forecasted to experience rapid growth is Media, projected to grow at the fastest CAGR owing to heightened health disorder prevalence and research & development investments. Furthermore, a spotlight shines on Innovations such as the IntelliRate i67C tabletop freezer by BioLife Solutions, Inc., designed to meet the critical demand for cell therapy production volume.
Biobanking emerges as the dominant Application segment with substantial revenue share in the market, harnessing the potential of stem cell preservation, sperm, and egg banking. Regenerative Medicine, benefiting from cutting-edge biostorage techniques and FDA breakthrough classifications like that awarded to X-Therma Inc.'s organ preservation technology, is poised for rapid advancement.
In terms of End-users, Hospitals have witnessed a significant market share thanks to robust healthcare infrastructure development and a move toward in-house sample storage. Contrastingly, Biobanks are anticipated to be the fastest-growing End-user segment, underpinned by technological advancements and strategic initiatives by market leaders and institutions such as Qatar's Hamad Medical Corporation.
Geographically, North America claims the highest revenue share within the global biopreservation market. The region's supremacy is attributed to vibrant research activities, technological advancements, and substantial investments in biopreservation. Meanwhile, the Asia Pacific region is predicted to exhibit the fastest CAGR during the forecast period, spurred on by developments such as the establishment of Cellutions BioStorage, a Cryopreservation Bank in Chennai, India.
The segmentation analysis of the Biopreservation Market includes insightful data across Products, Applications, End-users, and Regions:
The Product segment covers:
- Laboratory Information Management System (LIMS)
- Media (Home-brew and Pre-formulated)
- Equipment (Liquid Nitrogen, Refrigerators, Freezers)
- Consumables (Bags, Straws, Vials, Microtiter Plates)
The Application segment covers:
- Drug Discovery
- Bio-banking (Human Eggs, Veterinary IVF, Human Sperms)
- Regenerative Medicine (Gene Therapy, Cell Therapy)
End-user categories include:
- Biobanks
- Hospitals
- Others
Regional prospects span:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
This thorough analysis illustrates the dynamic evolution of the biopreservation market and its impact across various sectors. Complete findings of the market analysis are now accessible for further insights and industrial review.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 145 |
| Forecast Period | 2022-2033 |
| Estimated Market Value (USD) in 2022 | $3.25 Billion |
| Forecasted Market Value (USD) by 2033 | $53 Billion |
| Compound Annual Growth Rate | 28.8% |
| Regions Covered | Global |
Companies Mentioned
- LabVantage Solutions Inc.
- BioCision LLC
- Azenta US Inc.
- Panasonic Corporation
- BioLife Solutions
- Cesca Therapeutics Inc.
- Stirling Ultracold
- Custom Biogenic Systems Inc.
- Biomatrica Inc.
- Lifeline Scientific Inc.
- VWR International
- Merck KGaA
- Taylor-Wharton
- Princeton CryoTech Inc.
- Thermo Fisher Scientific Inc.
- X-Therma Inc.
- MVE Biological Solutions
- Core Dynamics Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/m0eh2h
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