The global biopreservation market size was worth USD 3456 Million in 2020 and is estimated to reach USD 6386 Million by 2025, with a CAGR of 13.07% between 2020 to 2025.
Bio-preservation is a process in which preservation cells, plasma, tissues, DNA, and saliva are stores in an environmental state for their servility. The cells or plasma or the tissues help in the future to treat various health issues. Bio-preservation is also used to store human sperms and eggs for fertilization.
MARKET DRIVERS:
Increasing spending on healthcare is stimulating the global biopreservation market extension.
As per the World Health Organization (WHO), the global healthcare expenditure was worth USD 7.8 trillion in 2017 and USD 7.6 trillion in 2016. In 2017, the average healthcare spending on a person was USD 41 in low-income countries, which was USD 2937 in high-income countries. As per Deloitte, global healthcare spending is growing at a CAGR of 5% from 2019 to 2023. The government of the United Kingdom is likely to invest USD 6.8 million in health and research development in 2020. The growth in the global healthcare expenditure is offering a proportionate increase to the biopreservation market.
Additionally, growing research and development investments for the preservation of biological samples is a significant factor fueling the demand of the global biopreservation market. The governments have taken some initiatives and came forward to bring awareness among people for bio-preservation of samples, and this is likely to bolster the growth rate of the market. One of the other vital factors driving the market is the development of regenerative medicine, which helps treat and control different kinds of diseases such as heart strokes and diabetes.
MAJOR CHALLENGES
The cost of preserving the biological samples is so high that ordinary people can’t afford due to a lack of investments that restrain the global biopreservation market growth. Lack of awareness in people who don’t know or significantly less knowledge about preservation is another factor that hinders market growth. Biological samples that put in refrigerators for freezing become warm or turn into liquid state or soft due to lack of proper knowledge is limiting the demand of the global biopreservation market.
REPORT COVERAGE:
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REPORT METRIC |
DETAILS |
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Market Size Available |
2019 to 2025 |
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Base Year |
2019 |
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Forecast Period |
2020 to 2025 |
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Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, Drivers, Restraints, Opportunities, Challenges, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
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Segments Analysed |
By Product Type, Biospecimens, Application, End User, and Region |
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Regions Analysed |
North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
This research report on the global biopreservation market has been segmented and sub-segmented into product type, bio-specimens, application, end-user, and region.
Biopreservation Market - By Product type:
Based on product type, the biopreservation Equipment segment contributes a significant share of revenues to the market. It is likely to witness growth over the outlook period owing to the factors such as increased investments from private and public organizations for research and development of cell and gene therapies, rise in adoption of refrigerators, and biological freezers for the preservation of biological specimen.
On the other end, the LIMS segment grew at the highest CAGR of 15.6% during the forecast period.
Biopreservation Market - By Bio-Specimens:
Based on bio-specimens, the stem cells segment has a high share value due to increased awareness about preserving the stem cell to treat chronic diseases like cancer and others.
Biopreservation Market - By Application:
Based on the application, the therapeutic applications are ruling with dominant shares of the market with the increasing elderly population and growing prevalence for better treatment procedures.
Biopreservation Market - By End-users:
Based on end-users, the Biobanking segment is dominating by contributing the largest share of revenues to the Global Biopreservation market and is expected to expand further during the forecast period owing to the factors such as increasing adoption of the rate of Biobanking due to various researches and rise in demand for biospecimens.
Biopreservation Market - By Region:
Geographically, the North American biopreservation market is dominating the growth of the global biopreservation market. It is due to the factors like collaborations between critical players that majorly on the expansion of bio-banking and development of biobank network owing to the influx of government funding. The United States is the most dominating country and occupied dominating shares in the global market in 2019.
Germany to play a promising role in the European Market. Our analysts expect the biopreservation market in Germany to showcase a CAGR of 10.2% from 2019 to 2024.
The Asia Pacific is growing at a high pace and contributes a significant share of revenues during the forecast period owing to the factors such as the increasing prevalence of conservation of stem cells of newly born infants, increased costs of healthcare in the region, and increased funding by governments for research and developments in regenerative medicine and biobanks.
NOTABLE COMPANIES IN THIS MARKET
Some of the key market participants leading the global biopreservation market profiled in this report are BioLife Solutions, Inc., Thermo Fisher Scientific, Inc., Sigma-Aldrich Corporation, BioCision LLC, VWR Corporation, Cesca Therapeutics Inc., Taylor-Wharton, So-Low Environmental Equipment Co, Panasonic Corporation, and Lifeline Scientific Inc.
MAJOR HAPPENINGS IN THE BIOPRESERVATION MARKET IN THE RECENT PAST:
1.Introduction
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3. Overview
3.1 Executive Summary
3.2 Key Inferences
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 By Product Type
5.1.1 Biopreservation Media
5.1.2 Biopreservation equipment
5.1.3 Lab Information System Management
5.2 By Bio-Specimens
5.2.1 Human tissue samples
5.2.2 Organs
5.2.3 Stem cells
5.2.4 Other bio-specimens
5.3 By Application
5.3.1 Therapeutic applications
5.3.2 Research applications
5.3.3 Clinical trials
5.3.4 Other applications
5.4 By End-User
5.4.1 Biobanks
5.4.2 Gene Banks
5.4.3 Hospitals
5.4.4 Others
6. Geographical Analysis
6.1 North America
6.1.1 Introduction
6.1.2 United States
6.1.3 Canada
6.2 Europe
6.2.1 Introduction
6.2.2 U.K
6.2.3 Spain
6.2.4 Germany
6.2.5 Italy
6.2.6 France
6.3 Asia-Pacific
6.3.1 Introduction
6.3.2 China
6.3.3 India
6.3.4 Japan
6.3.5 South Korea
6.3.6 Australia
6.4 Latin America
6.4.1 Introduction
6.4.2 Brazil
6.4.3 Argentina
6.4.4 Mexico
6.5 Middle East & Africa
6.5.1 Introduction
6.5.2 Middle-East
6.5.3 Africa
7.Strategic Analysis
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8.Market Leaders' Analysis
8.1BioLife Solutions
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Thermo Fisher Scientific
8.3 Sigma-Aldrich Corporation
8.4 BioCision LLC
8.5 VWR Corporation
8.6 Cesca Therapeutics
8.7 Taylor-Wharton
8.8 So-Low Environmental Equipment
8.9 Panasonic Corporation
8.10 Lifeline Scientific
9.Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10.Market Outlook and Investment Opportunities
Appendix
a) List of Tables
b) List of Figures
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