The global biopreservation market size is estimated to grow USD 7222 million by 2027 and USD 3907.7 million in 2022, growing at a CAGR of 13.07% during the forecast period.
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 sperm and eggs for fertilization.
MARKET DRIVERS:
Growing R&D activities, Y-O-Y growth in regenerative medicine, and rising healthcare spending are 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, 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 the global healthcare expenditure is offering a proportionate increase to the biopreservation market.
Additionally, growing research and development investments to preserve biological samples is a significant factor fuelling the demand of the global biopreservation market. The governments have taken some initiatives and came forward to bring awareness among people for the bio-preservation of samples, which is likely to bolster the market's growth rate. One of the other vital factors driving the market is developing regenerative medicine, which helps treat and control different diseases such as heart strokes and diabetes.
MARKET RESTRAINTS:
The high costs associated with preserving the biological samples are expected to restrain the global biopreservation market growth. Lack of awareness in people about biopreservation is another factor that hinders market growth. Biological samples put in refrigerators for freezing become warm or turn into liquid state or soft due to lack of proper knowledge limiting the demand of the global biopreservation market.
Impact of COVID-19 on the global biopreservation market:
The COVID-19 has been created a positive impact on the biopreservation market growth. Due to the sudden outbreak of the SARS-COV-2 pandemic, a nationwide lockdown has been implemented to disrupt the transmission of the virus between the countries. During the pandemic period, a ban on transportation was implemented. The supply chain had been completely closed as it affected all sectors of the economy and enforced massive changes in the market dynamics.
Biopreservation plays a vital role in the diagnosis and development of treatments for various types of diseases. Desperate international efforts to develop vaccines for the 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 the 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:
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REPORT METRIC |
DETAILS |
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Market Size Available |
2021 to 2027 |
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Base Year |
2021 |
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Forecast Period |
2022 to 2027 |
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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 is estimated to account for a significant share in 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, rise in adoption of refrigerators, and biological freezers for the preservation of biological specimens.
On the other end, the LIMS segment is estimated to grow at the highest CAGR of 15.6% during the forecast period.
Biopreservation Market - By 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.
Biopreservation Market - By Application:
Based on the application, the therapeutic application is the most lucrative segment and forecasted to display a healthy growth rate during the forecast period, increasing the elderly population and growing prevalence for better treatment procedures.
Biopreservation Market - By End-users:
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 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 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.
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.
The Asia Pacific biopreservation market is 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.
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.
The MEA biopreservation market is expected to register a steady growth rate during the forecast period.
KEY MARKET PLAYERS:
Some of the notable 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.
RECENT MARKET DEVELOPMENTS:
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
11. Appendix
a) List of Tables
b) List of Figures
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