The size of the North America Biopreservation Market is forecasted to worth USD 2239.4 million by 2027 and USD 1285.5 million in 2022, growing at a compound annual growth rate (CAGR) of 11.74% from 2020 to 2025.
The significant increase in the patient population requiring high-end treatment for chronic diseases is also responsible for the high demand for biopreservation goods and services, which would propel the biopreservation market in the area to new levels throughout the forecast period. Furthermore, the presence of government healthcare programs that offer funding, grants, and contracts for research and the use of advanced bio-preservation services has expanded, which is expected to drive penetration rates in the coming years. Developments in hypothermic storage solution composition, next-generation cryopreservation solutions, and design and integration with nanoscale technologies are all examples of advancements. In addition, major pharmaceutical firms are active in the marketing and subsequent acceptance of advanced preservation equipment in the research community. The expanding elderly population, advances in drug discovery and biomedical research, improved healthcare expenditure, an increase in the number of patients needing specialist treatment for lifelong diseases, and the presence of major pharmaceutical and pharmaceutical firms in the region are all important factors.
Increasing R&D spending, advancements in biobanking, and the expanding practice of saving newborns' cord blood stem cells, rising investments in regenerative medicine research, and increased demand for customized treatment are all driving this industry forward. Furthermore, increased healthcare spending is expected to enhance access to high-quality treatment and sophisticated products, such as biopreservation facilities, increasing development opportunities in this region. In addition, the rising need for organ transplants, the growing number of research projects in the field of biopreservation, and the rising demand for room temperature storage methods will all contribute to the biopreservation market's growth in the near future.
The high cost of biopreservation equipment will hamper the North American biopreservation market expansion. During the assessment period, the growing high cost of biopreservation devices and their maintenance, specimen stability concerns, and a shortage of qualified staff to handle the biopreservation process may limit market expansion.
The expensive expense of advanced methods and ongoing worries about tissue harm during freezing and thawing is expected to hinder the North America Biopreservation market's growth in the future years.
This research report on the North America Biopreservation Market has been segmented and sub-segmented into the following categories:
By Product Type:
By Bio samples:
The Biopreservation Market in the North American region was the top revenue-generating geography globally in 2020 and is predicted to dominate the market throughout the forecast period. The growing prevalence of chronic diseases like cardiovascular diseases, cancer, diabetes, and acute respiratory diseases has helped the biopreservation market gain significance. Life Sciences companies have been increasingly using biopreservation media for cell or tissue-related therapies. Recent years have seen the emergence of biopreservation with rising funding from many academic institutions, governments, healthcare establishments, biotechnology companies, and pharmaceutical companies. The rising demand for novel bio-preservative techniques and increasing healthcare expenditure are believed to increase market demand.
Due to the consistent drug developments and the introduction of advanced medicines in biomedical research, North America had the biggest share. The increasing demand for biopreservation goods and services in this region is due to a considerable increase in patients seeking high-end treatment for chronic diseases. In addition, the increase in demand for blood, solid tissue specimens, including paraffin-embedded or frozen bio-specimens of tumors, and other tissues (such as peripheral blood cells and bone marrow) across numerous research institutions, pathology centers, and hospitals, is driving the North American market. The development of regenerative medicine for treating and managing numerous chronic diseases such as heart failure and diabetes and degenerative disorders affecting the nerves, bones, and joints is one of the primary causes driving demand for biopreservation. Because of enhanced technology adoption, a well-established healthcare system, and increased in-house sample storage in hospitals and research institutes, the Americas are expected to lead the biopreservation market.
KEY MARKET PLAYERS:
A few of the noteworthy companies operating in the North America 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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