Global Biopreservation Market

Biopreservation Market Size, Share, Growth Analysis, By Product(Equipment, Media, and Laboratory Information Management System (LIMS)), By Application(Regenerative Medicine, Bio-banking, and Drug Discovery), By Region - Industry Forecast 2025-2032

Report ID: SQMIG35I2223 | Region: Global | Published Date: March, 2024
Pages: 219 | Tables: 63 | Figures: 75

Biopreservation Market News

  • In October 2022, Azenta, Inc. bought B Medical Systems S.á r.l. and its affiliated companies, a supplier of temperature-controlled packaging and shipping systems that allow for the global distribution of life-saving medicines.
  • In July 2022, In Chennai, India, Cellutions BioStorage, a research-to-launch Cryogenic preservation Bank, was opened. Cellutions BioStorage is a full-service biomaterial storage and logistics provider that works with biopharmaceutical businesses that are interested in outsourcing all aspects of their supply chain throughout a product's life cycle. The newly opened facility is 25,000 square feet in size and features first-rate infrastructure.
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Biopreservation Market size was valued at USD 2.18 billion in 2022 and is poised to grow from USD 2.80 billion in 2023 to USD 20.54 billion by 2031, growing at a CAGR of 28.30% during the forecast period (2024-2031).

Biopreservation market is capital and innovation extensive hence it is dominated by large multinational companies. There is a higher degree of collaboration between the government and private sector in terms of research and funding. Government regulations are also on the higher side in the market, and they vary for each geography. Hence, companies with wider regional outreach have a competitive edge.  'Thermo Fisher Scientific Inc.', 'Merck KGaA', 'BioLife Solutions, Inc.', 'GE Healthcare', 'VWR International LLC', 'Custom Biogenic Systems, Inc.', 'Chart Industries, Inc.', 'BioCision LLC', 'STEMCELL Technologies Inc.', 'Cesca Therapeutics Inc.', 'Core Dynamics Ltd.', 'Panasonic Healthcare Co., Ltd.', 'Avantor, Inc.', 'Lonza Group Ltd.', 'Brooks Automation, Inc.', 'BioStorage Technologies, Inc.', 'LabVantage Solutions, Inc.', 'Atlanta Biologicals, Inc.', 'Hamilton Company', 'So-Low Environmental Equipment Co.'

Reported chronic diseases cases are on the rise globally. In developed economies such as the US chronic disease was reported annually in more than 30% of the adult population while in developing economies such as India, chronic diseases were reported in more than 23% of the adult population. Chronic diseases have high requirement of diagnosis and other alternate therapies thus boosting the demand for biopreservation. 

Cell therapy and genetic engineering demand is expected to witness more than 30% CAGR during the forecast period. This is attracting investment from biomedical companies for research and development. Cell and gene therapy is transforming the diagnosis and treatment of critical patients and chronic diseases. Government spending on research centers focusing on gene therapy and regenerative treatment is also expected to grow. 

North America dominated the market and accounted for highest Biopreservation Market share in 2023, driven by flourishing healthcare sector and growing budget for pharmaceutical research. US accounts for the largest market for clinical trials of new drugs and is the powerhouse of drug discovery. The presence of research centers of large pharmaceutical companies and world class healthcare providers creates high demand for biopreservation of samples required in treatment and research. In addition, the number of cases of chronic disease is significantly high and acceptance of personalized medication using regenerative techniques is also significantly more mature in North America especially in the US. 

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Global Biopreservation Market

Report ID: SQMIG35I2223

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