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 2024-2031

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 is a method which ensures the preservation of the property and functionality of biomass and biological products in a wide range of temperature and other physical conditions. Biomass and biological products can range from DNA, tissues, and organs to stem cells. Recent technological advancement enables the use of microarrays and the integration of diverse predictive models for biopreservation. Implementation of technology and API algorithms in biopreservation have collectively minimized the time, cost, and complexity associated with the entire process. Additionally, the emergence of multiplex cellular imaging platforms is expected to significantly improve biopreservation capabilities further. Biopreservation finds wider acceptance in cardiology, gynecology, and point-of-care applications. 

Growing prevalence of chronic diseases worldwide is boosting the development of biological products across various research and development sectors, including immunotherapies, vaccine production, antibody generation, enzyme technology, and biologically derived chemicals. In recent years, this trend has largely been attributed to the increase in the demand for biopreservation techniques. The market is witnessing significant collaboration between government and private sectors by providing financial support for research and development initiatives. Increasing demand for stem cell preservation, creation of biological medicines and products is attracting attention of biomedicine companies for biopreservation. The notable growth in healthcare expenditure is anticipated to drive market expansion throughout the forecast period.