The size of the global biopreservation market was worth USD 3456 Million in 2019 and is estimated to reach USD 6386 Million by 2024 with a CAGR of 13.07% from the forecast year 2019 to 2024.
Bio-preservation is a process in which preservation of cells, plasma, tissues, DNA and saliva are stores in an environmental state for their servility. The cells or plasma or the tissues helps in future to treat various health issues. Bio-preservation is also used to store human sperms and eggs for fertilization.
Increasing spending on healthcare is stimulating 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 the USD 6.8 million in health and research development in 2020. The growth in the global healthcare expenditure is offering 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 which are driving the market is the development of regenerative medicine which helps in treating and controlling different kinds of diseases such as heart strokes and diabetes.
MAJOR CHALLENGES
The cost in preserving the biological samples is so high that the ordinary people can’t afford due to lack of investments that restrain the global biopreservation market growth. Lack of awareness in people who don’t know or very less knowledge about preservation is also another factor that hinders market growth. Biological samples which 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 |
2018 – 2024 |
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Base Year |
2018 |
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Forecast Period |
2019 – 2024 |
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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 Analysis - By Product type
Based on product type, the Biopreservation Equipment segment is contributing 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 to grow at the highest CAGR of 15.6% during the forecast period.
Biopreservation Market Analysis - By Bio-Specimens
Based on bio-specimens, the stem cells segment has a high share value due to an increase in awareness about preserving the stem cell to treat chronic diseases like cancer and others.
Biopreservation Market Analysis - By Application
Based on 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 Analysis - By End-users
Based on end-users, 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.
Regional Insights
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.
List of key market participants leading the Global Biopreservation Market profiled in this report are:
Major happenings in the biopreservation market in the recent past:
In 2019, Biolife Solutions Company completed the acquisition of SAVSU technologies. With this acquisition, the BioLife has expanded its product and technology portfolio and distribution network of its cell and gene therapy by integrating SAVSU’s cloud-connected shipping containers which can enhance the manufacturing, storage and distribution operations of BioLife solutions. This collaboration is an opportunity for the development of technologically advanced biopreservation and bioproduction techniques.
In 2019, the international crops research for the semi-arid tropics (ICRISAT) had inaugurated a gene bank in Hyderabad, which is entirely powered by solar energy. The facility has the potential to address the food problems in tropical and semi-arid countries in Asia and Africa. Gene banks such as ICRISAT can help in preserving the gene diversity in crops which can aid the farmers in the protection of plants from climate change, pests and insects, and diseases.
On September 19, 2017, Biolife Solutions, Inc. made a public statement that they are supporting Cellular Biomedicine Group for the development of cancer and stem cell therapies for degenerative diseases. This engagement is to strengthen the company’s position in the market.
On January 26, 2016, BioCision expanded its automated cell therapy called ThawStar. This is used for the general purpose of research and also for in-process manufacturing and clinical trials.
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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