Biopreservation Market

Global Biopreservation Market Size (2022 to 2027)

The global biopreservation market is estimated to reach USD 9.61 Billion by 2027 from USD 2.47 Billion in 2022, growing at a CAGR of 31.24% during the forecast period.

Biopreservation Market Share Insights:

• Based on product type, the biopreservation equipment segment held the largest share of the global biopreservation market in 2021 and is expected to dominate during the forecast period.
• Based on bio-specimens, the stem cell segment is expected to grow with a healthy CAGR during the forecast period.
• Based on the Application, the therapeutic Application led the market in 2021 and is expected to maintain the same pace during the forecast period.
• The North American Biopreservation market is expected to be worth USD 3.18 billion by 2027
• The Asia Pacific Biopreservation market showcased the fastest CAGR of 33.62% from 2022-2027

Bio-preservation is a process in which the preservation of cells, plasma, tissues, DNA, and saliva are stored in an environmental state for servility. The cells or plasma or the tissues help treat various health issues in the future. Bio-preservation is also used to store human sperm and eggs for fertilization.

MARKET DRIVERS:

Rising healthcare spending is accelerating the global biopreservation market growth.

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 and USD 2937 in high-income countries. As per Deloitte, global healthcare spending is growing at a CAGR of 5% from 2019 to 2023. The United Kingdom government is likely to invest USD 6.8 million in health and research development in 2020. The growth in global healthcare expenditure is offering a proportionate increase to the biopreservation market.

Additionally, growing research and development investments to preserve biological samples are a significant factor fuelling the demand of the global biopreservation market. Biobanks and biopreservation are essential in research infrastructures for basic, preclinical, translational, and clinical research. For example, during the pandemic, this biopreservation stores different samples for testing and clinical purposes. By increasing research on these samples, researchers can find better vaccines or drugs for prevention. In addition, the governments have taken some initiatives to bring awareness among people for the bio-preservation of samples, likely boosting the market's growth rate. One of the other vital factors driving the market is developing regenerative medicine, which helps treat and control diseases such as heart strokes and diabetes.

MARKET RESTRAINS:

The high costs associated with preserving biological samples are expected to restrain the global biopreservation market growth.

 Lack of awareness in people about biopreservation is another factor hindering market growth. Biological samples in refrigerators for freezing become warm, liquid, or soft due to a lack of proper knowledge limiting the demand of the global biopreservation market.

Impact of COVID-19 on the global biopreservation market:

COVID-19 has created a positive impact on the biopreservation market growth. However, due to the sudden outbreak of the SARS-COV-2 pandemic, a nationwide lockdown has been implemented to disrupt the virus transmission between the countries. In addition, during the pandemic period, a ban on transportation was implemented. As a result, the supply chain was completely closed as it affected all economical sectors and enforced massive market dynamics changes.

Biopreservation plays a vital role in the diagnosis and development of treatments for various types of diseases. Desperate international efforts to develop vaccines for SARS-COV-2.

Patient sample collection, processing, and analysis of the tests performed in the emergency. The specimens have to be preserved for a more extended period to identify the disease structure. Through sample analysis of the infection, disease effects and vaccines can be discovered.

COVID-19 shows some different issues in biopreservation. In this situation, it is expected that this pandemic will be a significant concern for the world. The U.S. CDC has published guidelines for managing COVID-19 samples. Laboratories are likely to be handling until the vaccine arrives, such as biopreservation, which helps store the COVID-19 sample for an extensive period.

REPORT COVERAGE:

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:

• Biopreservation Media
• Biopreservation Equipment
• Lab Information System Management

Based on product type, the biopreservation equipment segment is estimated to account for a significant share of the global biopreservation market during the forecast period. Furthermore, 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 and a rise in the adoption of refrigerators and biological freezers for the preservation of biological specimens.

Conversely, the LIMS segment is estimated to grow at the highest CAGR of 15.6% during the forecast period.

Biopreservation Market - By Bio-Specimens:

• Human Tissue Samples
• Organs
• Stem Cells
• Other Bio-specimens

Based on bio-specimens, the stem cell segment registers a promising CAGR during the forecast period due to increased awareness about preserving the stem cell to treat chronic diseases like cancer and others. Stem cell-based therapies are used primarily to preserve healthy young stem cells, collected and stored for future use. The main aim of stem cell preservation is to be used for future regenerative medicine treatment options for successful treatment. Adult stem cell banking has increased the market share due to increasing research for personalized medicine and advanced options for the storage of cells.

The organ biopreservation segment also shares the market share due to increasing organ donation and transplantation procedures. Organ places a significant role in some lives. Most organs have a short life span after they are taken from the donor body. To travel or store these organs for the transplantation procedure, this biopreservation is used to store the organ undamaged for a certain period.

Biopreservation Market - By Application:

• Therapeutic Applications
• Research Applications
• Clinical Trials
• Other Application

Based on the Application, the therapeutic Application is the most lucrative segment. It is forecasted to display a healthy growth rate during the forecast period, increasing the elderly population and growing prevalence of better treatment procedures. Stem cell and gene-based therapies (CGTs) play a significant role in developing novel therapeutic applications that are useful to treat chronic, age-related clinical indications and provide a treatment option for medical needs.

Biopreservation Market - By End-users:

• Biobanks
• Gene banks
• Hospitals
• Others

Based on end-users, the biobanking segment is expected to expand at a healthy growth rate during the forecast period due to the factors such as increasing adoption of Biobanking due to various research and the rise in demand for biospecimens. Human biobanks are the most popular segment due to the increasing storage of biosamples of the person for further evaluation of the treatment or any other research. Biobanks consist of large numbers of samples and data, which are used for treating and identifying the factors that cause the disease.

Gene banks are the next segment that drives the market forward. These banks are used to store genetic material. These samples are used for further research and development activities. These samples in the gene bank are used for the vaccine development and study of the endangered species. These gene banks are used for human, animal, and plant species to develop the genes further. One of the actual uses of these gene banks is the development of a vaccine for chronic diseases. Many new infectious diseases are expected to affect people in the coming years, and developing new vaccines against these diseases is the primary approach for their control and prevention. Due to the increase in population, these infectious diseases are increasing; by taking samples of the infected person, researchers learn about the infectious agents in the body and develop a vaccine that fights against the disease. Considering all these factors drives the gene segment forward.

Biopreservation Market - By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• The Middle East and Africa

Geographically, the North American biopreservation market is dominating the growth of the global biopreservation market due to collaborations between critical players that majorly on the expansion of bio-banking and biobank networks' development to the influx of government funding. The United States is the most dominating country and occupied dominating shares in the global market in 2020. Recently in the United States, several companies have been making advertisements for the service providing the isolation and storage of different biomaterials, including cord blood and tissue, dental pulp, peripheral blood, adipose tissue, and placental tissue, driving the market growth in this Region.

The European biopreservation market is expected to register a CAGR of 12.15% between 2021 to 2026. Hence, Germany plays a promising role in the European Market. Our analysts expect the biopreservation market in Germany to showcase a CAGR of 10.2% from 2021 to 2026. In recent years investments have been made by the European Union and individual European countries in developing biobanking networks.

The APAC biopreservation market is anticipated to be growing at a high pace. It contributes a significant share of revenues during the forecast period due to 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. In China, there has been significant progress in adopting biopreservation over the last 15 years for developing human pluripotent stem cell (hPSC)-derived products due to chronic and severe diseases. Biobanking plays an essential role in providing safe and regulatory-compliant cell therapies. In China, market players have focused on the recently launched National Stem Cell Resource Centre. To protect cells from damage and demise caused by the freezing temperatures used in biopreservation, BioLife Solutions, Inc., a leading developer for storing cells, tissues, and organs, has been granted a Japanese patent. In India, biopreservation is mainly used for blood storage. This biopreservation process helps maintain the integrity and functionality of cells in the outside environment when it is held for extended storage times.

The Latin American biopreservation market is expected to register a CAGR of 10.53% during the forecast period. Brail to lead the Latin American market during the forecast period. In Brazil and Latin America, cancer is the leading cause of death. To find the correct treatment for this cancer, tutor banks are used to store the samples for further evaluation, which drives the biopreservation market in this Region. Clinical and translational research aimed at developing and improving cancer prevention and treatment in this Region. Recent studies show that human body responses to drug administration are understood using the human genome. For this development, access to biological samples in Latin America is essential for further understanding the presence of genes that may be associated with adverse effects and can know the improvements of new treatments. As a result, in Latin America, biobanks for research purposes have only less development.

The MEA biopreservation market is expected to register a steady growth rate during the forecast period. Research in this Region is working on this biopreservation for the biomedical researcher. The Ugandan Ministry of Health and Uganda National Council for Science and Technology (UNCST) have grated the cross-border exchange of biospecimens.

KEY MARKET PLAYERS:

Some of the notable market participants in this report who lead the global biopreservation market 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.

RECENT MARKET DEVELOPMENTS:

• In 2022, BioLife Solutions, Inc. partnered with Seattle Children's Therapeutics, a venture at Seattle Children's for bringing advanced technologies and therapies to defeat pediatric cancer and other diseases that affect children.
• In 2019, Gibco BenchStable Media was the advanced Gibco product from Thermo Fisher Scientific, which provides a good supplement for biological researchers.
• In 2020, The Merck Biotech Development Center invested in biotech development and manufacturing for clinical studies. In addition, this center is also used to develop new biological products and address the increasing manufacturing complexity of the next generations of biotech compounds.