Growing advancements in Biobanking services across the globe will boost the Biopreservation Market. North America to witness the highest growth
Global Biopreservation Market is expected to witness significant growth by 2027 expanding at a CAGR of XX% during the forecast period (2021-2027). Increasing demand of people towards personalized medicine paired with increasing demand of conserving cord blood stem cells of newborns has stimulated the demand for the biopreservation market across globe. The field of biopreservation has rapidly grown worldwide due to the increasing levels of research & developments to preserve their samples for studies for a longer period of time.
Factors driving the biopreservation market include growing advancements in biobanking and the progression of regenerative medicine for treating and controlling various chronic diseases such as heart failure, diabetes, degenerative conditions affecting the nerves, bones, and joints across the world. Further, increasing necessity for organ transplants is also anticipated to drive the market. For instance, according to the U.S. Health Resource and Services Administration in 2020, an estimated 106,766 number of men, women, and children are on the national transplant waiting list, and more than 17 people each day die waiting for an organ transplant.
The Covid-19 pandemic has led to various challenges and has impacted almost every industry in some or the other way. The biopreservation platformers like biobanks have played a key role in the fight against Covid-19 by allowing researchers to access the samples they needed to study the disease across the world and develop vaccines and treatments. For instance, in March 2020, Columbia University Vagelos College of Physicians and Surgeons, U.S., in partnership with New York-Presbyterian Hospital, established a Covid-19 Biobank as a centralized resource to collect, store, and disseminate biological specimens and clinical data for researchers at Columbia University and elsewhere. Further, the biopreservation of samples plays a critical role in the diagnosis, classification of complex diseases, identification of new biomarkers, and development of treatments for a variety of diseases.
Based on types, the market is bifurcated into biopreservation media, biospecimen equipment, freezers, cryogenic storage systems, thawing equipment, refrigerators. The biospecimen equipment segment grabbed the major market in 2020, owing to the increased investments from private and public organizations for research and development of cell and gene therapies and increasing acceptance of refrigerators, and biological freezers for the preservation of biological specimens. Based on biospecimen, the market is bifurcated into human tissue samples, organs, stem cells, and others. The stem cells segment accounted for the maximum share in 2020 due to the augmenting awareness of people about conserving cord blood stem cells of newborns to treat chronic diseases like cancer and others.
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Based on application, the market is bifurcated into therapeutic applications, research applications, clinical trials, and others. The therapeutic applications segment grabbed the major market in 2020 and accounted for the maximum revenue during the forecast period. The highest growth of this segment is accredited due to the advancements in the fields of regenerative medicine, personalized medicine, and biobanking. Based on end-user, the market is bifurcated into biobanks, gene banks, hospitals, and others. The biobanks segment accounted for the maximum share in 2020 due to the increasing demand for conserving biospecimens, tissues, organs, and stem cells for various research purposes.
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Additionally, the report provides detailed initiatives that are being taken in the field of biopreservation. The market is classified into distinct regions North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World has been conducted. North America constitutes a major market for biopreservation and generated maximum revenue in 2020 owing to the high government funding, robust personal healthcare spending, developed awareness programs, rapid acceptance of new analytical techniques, and the presence of skilled professionals and physicians. Some of the major players operating in the market include Thermo Fisher Scientific Inc., Merck KGaA, ThermoGenesis Holdings, Inc., Bio-Techne Corporation, BioLife Solutions, Inc., Exact Sciences Corporation, Princeton CryoTech, Inc., Stemcell Technologies, Inc., OPS Diagnostics, AMS Biotechnology, etc.
Global Biopreservation Market Segmentation
Market Insight, by Type
- Biopreservation Media
- Biospecimen Equipment
- Cryogenic Storage Systems
- Thawing Equipment
Market Insight, by Biospecimen
- Human Tissue Samples
- Stem Cells
Market Insight, by Application
- Therapeutic Applications
- Research Applications
- Clinical Trials
Market Insight, by End-User
- Gene Banks
Market Insight, by Region
- North America Biopreservation Market
- United States
- Rest of North America
- Europe Biopreservation Market
- United Kingdom
- Rest of Europe
- Asia-Pacific Biopreservation Market
- Rest of Asia-Pacific
- Rest of World Biopreservation Market
Top Company Profiles
- Thermo Fisher Scientific Inc.
- Merck KGaA
- ThermoGenesis Holdings, Inc.
- Bio-Techne Corporation
- BioLife Solutions, Inc.
- Exact Sciences Corporation
- Princeton CryoTech, Inc.
- Stemcell Technologies, Inc.
- OPS Diagnostics
- AMS Biotechnology