The Middle East and Africa Biopreservation Market size are currently estimated to be a 163.82 Million USD market in 2022. It is forecasted to worth 270.25 million USD by 2027, growing at a significant CAGR of 10.53% from 2022 to 2027.
Factors such as the increasing prevalence of chronic diseases and the advancements in regenerative medicine for treating and managing these chronic diseases are accelerating the market growth. Growing research and development activities, increasing healthcare expenses, and rising technological advancements, which escalates the healthcare sector, are considered to drive additional growth for the MEA biopreservation market. Active support from the government and non-government organizations in the form of funds and investments in developing the market with the latest technologies and infrastructure is favorable.
Rapid economic development in the healthcare domain and the expansion of many biobanks for the storage of cells further help the market grow. An increase in the birth rate in this region and growing demand for the storage of umbilical cord and rising trend for the storage of sperm, eggs, stem cell of newborn for fighting against the diseases like cancer and other diseases and expansion of lifestyle-related diseases are bolstering the bio-preservation market growth.
However, the lack of strict rules for using bio-preservation and ethical issues strongly impedes industry growth. High costs associated with the biopreservation may impede the growth rate of the market to a small extent.
This research report on the Middle East and Africa Biopreservation Market has been segmented and sub-segmented into the following categories:
By Product Type:
By Bio samples:
In the Next 5 years timeline, the biopreservation market in the MEA region is expected to witness notable growth. This regional market is driven by COVID-19, a rise in population base, and unsatisfied healthcare requirements. Growing funds for supporting stem cell therapies, superior quality treatment, and increasing demand for organ transplantation in Middle East & Africa are likely to accelerate the business growth. UAE is expected to have the highest share and strong market growth. The UAE government has taken several measures to improve healthcare. The increase in patient count suffering from chronic disorders and regularity in approvals for the launch of preserving systems into the market with FDA guidelines boost the industry growth.
Some of the notable companies operating in the Middle East and Africa Biopreservation Market are Thermo Fisher Scientific, Inc., BioLife Solutions, Inc., Sigma-Aldrich Corporation, VWR Corporation, BioCision LLC, Cesca Therapeutics Inc., So-Low Environmental Equipment Co, Taylor-Wharton, Panasonic Corporation, and Lifeline Scientific Inc.
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