Dublin, June 03, 2024 (GLOBE NEWSWIRE) -- The "Global Biopreservation Market by Product (Media [Cryopreservation, Hypothermic]), Equipment (Freezers, Refrigerators, Incubators, Centrifuge, Accessories), Biospecimen (Tissues, Organs, Stem Cells), Application (Research, Therapeutic) - Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.
The global Biopreservation market is projected to reach USD 7.1 billion by 2029 from USD 4.4 billion in 2024, at a CAGR of 9.8% during the forecast period. The growth of this market is majorly driven by rise in demand for preserving biological materials in healthcare, research, and industrial application, growing prevalence of chronic diseases, and technological advancements. However, technical challenges, quality control, energy consumption and environmental impact could restrain the growth of the Biopreservation market. 
Biopreservation Media segment accounted for the highest market share in the Biopreservation market, by product, during the forecast period.
Based on product, the Biopreservation market is segmented into biopreservation media, biopreservation equipment, and accessories. The biopreservation media segment accounted for the largest market share in 2023. This is attributed to the growing advancements in biotechnology and pharmaceutical companies, rise in demand for regenerative medicine, globalization of clinical trials, and expansion of cell & gene therapies.
Human Tissue Samples accounted for the larger market share in the Biopreservation market, by biospecimen, during the forecast period.
The Biopreservation market is segmented into human tissue samples, organs, stem cells, and other biospecimens. The human tissue samples segment accounted for the largest market share in 2023. This can be attributed to the rise in expansion of biobanking initiatives, growth in personalized medicine, and growing investments in biomedical research.
Biobanks accounted for the highest CAGR during the forecast period.
Based on the end user, the Biopreservation market is segmented biobanks, gene banks, hospitals, and other end users such as research institutes and universities, pharmaceutical companies, and contract research organizations. The biobanks segment accounted for the largest share of the biopreservation market in 2023. Growth in clinical research & trials, increasing collaborative research initiatives, and rise in funding from the government are supporting the growth of this end-user segment.
The North America segment accounted for the highest market share in the Biopreservation market, by region, during the forecast period.
Based on the region, the Biopreservation market is divided into North America, Europe, the Asia Pacific, Latin America, the Middle East & Africa, and GCC. North America region accounted for the largest share of the global Biopreservation market in 2023. This large share of North America is due to the strong healthcare system, presence of leading biotech and pharmaceutical companies, and innovation in cryopreservation and cryobanking.
The report provides insights on the following:
- Analysis of key drivers (Growing healthcare expenditure, Increasing R&D investments, Advances in biobanking and growing trend of conserving cord blood stem cells of newborns, Rising investments in regenerative medicine research, Increasing demand for personalized medicine), restraints (High cost of advanced techniques, Stability issues due to tissue injury during freezing and thawing, Issues related to biospecimen sample management), opportunities (Asia offers significant growth opportunities, Rising demand for organ transplants and cell & gene therapy), and challenges (Increasing demand for room temperature storage technologies, Storage and transportation logistics) influencing the growth of the Biopreservation market
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the Biopreservation market.
- Market Development: Comprehensive information about lucrative markets - the report analyses the Biopreservation market across varied regions.
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the Biopreservation market
- Competitive Assessment: In-depth assessment of market ranking, growth strategies, and product offerings of leading players like Thermo Fisher Scientific Inc. (US), Merck KGaA (Germany), PHC Holdings Corporation (Japan), Azenta, Inc. (US), among others in the Biopreservation market strategies.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 301 |
| Forecast Period | 2024 - 2029 |
| Estimated Market Value (USD) in 2024 | $4.4 Billion |
| Forecasted Market Value (USD) by 2029 | $7.1 Billion |
| Compound Annual Growth Rate | 9.8% |
| Regions Covered | Global |
Key Topics Covered:
Executive Summary
- Biopreservation Market, by Product, 2024 vs. 2029 (USD Billion)
- Biopreservation Market, by Biospecimen, 2024 vs. 2029 (USD Billion)
- Biopreservation Market, by Application, 2024 vs. 2029 (USD Billion)
- Biopreservation Market, by End-user, 2024 vs. 2029 (USD Billion)
- Geographical Snapshot of Biopreservation Market
Premium Insights
- Biopreservation Market Overview - Rising Investments in Regenerative Medicine Research to Drive Market
- Asia-Pacific: Biopreservation Market, by Biospecimen and Country (2023) - Human Tissue Samples Segment Accounted for Largest Share of Asia-Pacific Biopreservation Market in 2023
- Biopreservation Market: Geographic Growth Opportunities - China to Register Highest Growth Rate During Forecast Period
- Biopreservation Market: Regional Mix - Asia-Pacific Market to Witness Highest Growth from 2024 to 2029
- Biopreservation Market: Developed vs. Developing Markets - Developing Markets to Register Higher Growth During Forecast Period
Key Market Dynamics
Drivers
- Growing Healthcare Expenditure
- Increasing R&D Investments
- Advances in Biobanking and Growing Trend of Conserving Cord Blood Stem Cells of Newborns
- Rising Investments in Regenerative Medicine Research
- Increasing Demand for Personalized Medicine
Restraints
- High Cost of Advanced Techniques
- Stability Issues due to Tissue Injury During Freezing and Thawing
- Issues Related to Biospecimen Sample Management
Opportunities
- Asia Offers Significant Growth Opportunities
- Rising Demand for Organ Transplants and Cell & Gene Therapy
Challenges
- Increasing Demand for Room Temperature Storage Technologies
- Storage and Transportation Logistics
Companies Featured
- Thermo Fisher Scientific Inc.
- Merck KGaA
- PHC Holdings Corporation
- Azenta, Inc.
- Avantor, Inc.
- Sartorius AG
- ThermoGenesis Holdings, Inc.
- Bio-Techne Corporation
- BioLife Solutions Inc.
- Cryoport Inc.
- So-Low Environmental Equipment Co.
- Shanghai Genext Medical Technology Co. Ltd.
- Helmer Scientific Inc.
- Arctiko
- Nippon Genetics Europe
- STEMCELL Technologies, Inc.
- AMSBIO
- OPS Diagnostics
- Askion GmbH
- Dohmeyer
- X-Therma, Inc.
- IC Biomedical, LLC
- Taiyo Nippon Sanso Corporation
- Froilabo
- CellBios Healthcare & LifeSciences Pvt. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/sfoh9k
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