The Global Biopreservation Market is forecasted to grow at a rate of 8.9% from USD 2.84 Billion in 2021 to USD 5.63 Billion in 2030. Growth in investment in research and development will impact market development. An upsurge in the number of bio-banks for the storage of biological products, which can be used in different types of medical research, will also encourage the market demand.
Biopreservation is used to preserve biospecimens of plasma, saliva, and purified DNA. This technique enhances shelf life and ensures the purity and stability of the biospecimens. It also acts as a storage for tissues, organs, and cells. Initiatives by the government to support the market will further drive its demand. Growing demand for Biopreservation in food industry is also fostering market demand.
The restraints faced by the global Biopreservation market are the rigid guidelines for clinical trials, operational costs associated with the manufacturing process; regulatory challenges related to approvals inhibit the growth of the market. The market is quite fragmented and includes a large number of pharmaceutical giants as well as emerging players. Additionally, the emerging players have a good opportunity to enter the industry, owing to the availability of research funding and immense government support to combat prevalent diseases. Usage of Biopreservation techniques will propel the market demand.
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The rising trend for the preservation of sperm and human egg growth in preserving newborn stem cells is growing due to the long-term benefits such as fighting against cancer, autism, and other diseases. Furthermore, a rise in personalized medicine and the increasing incidence of lifestyle-related diseases are driving the market demand.
Biopreservation Media held a significant share owing to the growing demand for the market products. It is a crucial indispensable part of the preservation process. The rise in demand for stem cells and tissue bio-banking and growing research in life science will augment the demand for the product.
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.
Human embryonic stem cells (ESC) have unlimited capacity and plasticity for self-renewal, and the therapies have been proposed for regenerative medicine and tissue replacement after disease or injury. However, ESC is not limited to cell/tissue engineering. Current research is focusing on differentiating ESC for cell replacement therapies. It has been differentiated into dopamine-producing cells with the hope that the neurons can be used in the therapies of Parkinson\’s disease. ESCs are also being used in the field of toxicology and as cellular screens to discover new chemical entities that can be developed as small molecule drugs. The possibilities for exploration of the preserved stem cell is driving the demand for the Biopreservation.
End Users Outlook:
Biobanking is a process in which samples of body tissue and fluid are collected for research to enhance the knowledge of health and diseases. The samples can be kept indefinitely, depending on the duration of the studies. In developing regions, biobanking can prove to be an important tool to study the varied, rich heritage of the people and understand the origin and functioning of certain diseases. It is also beneficial for scientists to replicate the study and findings from the sample. Biobanks have advanced quality assurance, and they take measures to stop the misuse of the samples.
The statistics from the HFEA’s Fertility treatment 2022: trends and figures report show that egg freezing has become the fastest growing fertility treatment with a 10% increase in cycles in the year 2022. It also shows that only 410 cycles were recorded in 2012 as compared to 1,462 in 2022. The number of patients returning to thaw their eggs has also witnessed an increase from 159 cycles in 2012 to 581 in 2022.
The North American market is mainly driven by the increasing demand for preservation of tissue specimens, blood, including the frozen bio-specimen of a tumor. Favorable government regulations are also fostering the demand for the product. The region has access to the latest advanced technologies, strong economic growth, and substantial investment by the public and private sectors. Other factors driving the market in the region are easy approval for clinical trials, an increase in research and development initiatives to develop therapeutic options for chronic diseases, and the availability of state-of-the-art research infrastructure.
- The European region is witnessing an increase owing to a growth in the number of births and a rise in the preservation of the umbilical cord. Additionally, a growing number of egg and sperm banks are contributing to the growth of the market in the region.
- Stem cell offers several benefits over many orthopedic surgical options, such as it stimulates the natural healing response by using the patient\’s cells instead of a prosthetic replacement or artificial implants. It eliminated the possible need for surgery and avoided post-treatment complications or risks that can occur with surgery.
- 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.
- Asia Pacific region has the highest prevalence rate for Cancer, which is creating a demand for stem cell therapies in the region. The region is anticipated to hold 23.4% of the market share by the year 2030. For instance, Australia has the highest age-standardized incidence rate of multiple myeloma, followed by high-income North America and Western Europe.
- The process of freezing and thawing often damages the tissue and injures the cells. This hinders market growth. Tissue cryopreservation is a very complicated process and difficult than cell preservation. However, advancement in technology will help overcome this problem.
Companies considered and profiled in this market study
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., have been profiled in the report. They are the major manufacturers of the product.
The players operating in the market have undertaken several strategies related to the market in the period 2018-2020. The key highlight is:
- In October 2019, Thermo Fisher launched Gibco BenchStable Media, which provides an alternative for biological researchers that has the ability to save energy. The product is shipped in sustainable packaging.
The industry offers numerous growth opportunities, and thereby, several emerging start-ups providing innovative products, formulations, insights, or agricultural techniques have been entering the market. These start-ups have been profiled in the report, and their promising innovations have proven to be the potential drivers of this market. One of them includes AF-Tech.
Mergers and Acquisitions are an integral part of the Biopreservation industry. Along with the companies operating in the industry, other key industry players have also been entering the industry.
- In March 2019, Merck was planning to expand its biotech manufacturing facility in Switzerland. The expansion will cost the company USD 165.85 million over a five-year duration.
Reports and Data forecast promising developments for increased adoption of Biopreservation technology. According to industrial experts, demand relating to the technology will increase. Furthermore, new manufacturers are contemplated to enter the market, which is likely to provide platform-centric solutions for production applications. Startups infiltrating the industry would focus on innovating and manufacturing new products through advanced technologies, thereby reducing complexity and lowering the overall total cost of operation. Experts also believe that increase in the adoption of science for research in emerging nations would be a key development area for the industry.
Segments Covered in the report
This report forecasts revenue growth at a global, regional & country level, and provides an analysis of the market trends in each of the sub-segments from 2021 to 2030. The scope of the report can be defined as:
Type Outlook (Revenue, USD Billion; 2022-2030)
- Biospecimen Equipment
- Biopreservation Media
- Cryogenic Storage Systems
- Thawing Equipment
Biospecimen Outlook (Revenue, USD Billion; 2022-2030)
- Human Tissue Samples
- Stem Cells
Application Outlook (Revenue, USD Billion; 2022-2030)
- Research Applications
- Therapeutic Applications
- Clinical Trials
End Users Outlook (Revenue, USD Billion; 2022-2030)
- Gene Banks
Regional Outlook (Revenue, USD Billion; 2022-2030)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Saudi Arabia
- Rest of MEA
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