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The biopreservation market size is estimated to grow at a CAGR of 15.88% between 2022 and 2027. The market size is forecast to increase by USD 2,406.21 million. The growth of the market depends on several factors, including the growing demand for personalized medicine, the increasing number of biobanks, and the rise in the prevalence of chronic diseases worldwide.
This biopreservation market report extensively covers market segmentation by end-user (life sciences and healthcare facilities, research laboratories, and others), application (biobanks, regenerative medicine, and drug discovery), and geography (North America, Asia, Europe, and Rest of World (ROW)). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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Our researchers analyzed the data with 2022 as the base year and the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The growing demand for personalized medicine is driving growth in the biopreservation market. The high unmet medical need to develop effective therapies for different diseases and conditions has driven the demand for personalized medicine, which, in turn, has driven the need for biopreservation. Market players might find themselves in a game-changing position under this scenario. Personalized medicine is a treatment that takes into account each person's needs and preferences. Individuals are increasingly banking their tissues and stem cells for future treatments if needed.
The availability of individual samples, with annotated clinical and pathological data for individuals, is a critical requirement in personalized medicine. The possibility of developing personalized treatments by using biosamples is currently being explored by research organizations. Biobanking, which is a type of biopreservation, plays an important role in research into personalized medicine and genomics. Therefore, the growing demand for personalized medicine will fuel the demand for biopreservation worldwide and lead to market growth.
The emergence of stem cell storage in biobanks is a primary trend in the biopreservation market. The demand for stem cell storage in biobanks is growing phenomenally and is expected to have a positive impact on the growth of the global biopreservation market during the forecast period. In areas like cardiology and oncology, scientists believe stem cells have the potential to respond to a wide range of needs that are not met. Therefore, the market is witnessing many new biobanking facilities that are particularly dedicated to stem cell research.
Moreover, research organizations are focusing on establishing advanced production or manufacturing units to improve supply chain efficiency, thereby boosting production capacities. For example, the adoption of IT in logistics to ease the monitoring of biobanking services and the development of temperature-controlled logistics solutions, such as cryopreservation, will help minimize manual errors besides producing large batches of stem cell therapy products in a closed, sterile environment. Such factors are likely to lead to substantial growth opportunities for the global biopreservation market during the forecast period.
Ethical issues are a major challenge in a biopreservation market. Issues regarding privacy while accessing biological samples remain a major ethical issue with biopreservation, where protecting the identity of individuals is a major concern. The first step in the process of protection is the need for informed consent. Moreover, for private companies active on the market, the use of biobank information could be attempted in their own interests. Ethical questions concerning the preservation of biological samples have been under constant discussion for many years. In a number of countries, research carried out in the field of biological specimens like tissues and stem cells is also disputed.
Some of the ethical issues worth mentioning here include the cloning of embryonic stem cells and the destruction of embryos to create cell lines. Moreover, there is still a debate on safety concerns, scientific purity, and acceptance of the use of Human Embryo Stem Cell Lines in research. These factors may act as a hindrance to the growth of the global biopreservation market during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Biopreservation Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
AMS Biotechnology Europe Ltd. - The company offers biopreservation such as AMSbio CryoStor.
The research report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The life science and healthcare facilities segment is estimated to witness significant growth during the forecast period. The key factor that drives the growth of the life sciences and healthcare facilities segment is the growing prevalence of obesity and chronic diseases globally. The rising number of patients diagnosed with chronic diseases, such as cardiac ailments, diabetes, and degenerative conditions affecting the nerves, bones, and joints, is driving the demand for biopreservation in the life sciences and healthcare facilities segment.
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The life science and healthcare facilities segment was the largest segment and was valued at USD 697.02 million in 2017. A major shortage of donors for organ transplants has increased the demand for regenerative medicine all over the world. Regenerative medicine is used for treating and controlling various degenerative conditions and chronic diseases. Regenerative medicine broadly requires biopreservation techniques to keep the functionality and integrity of cells, tissues, or organs undamaged. The growing usage of regenerative medicines is directly increasing the demand for biopreservation, which thereby will drive the growth of the life sciences and healthcare facilities segment of the global biopreservation market during the forecast period.
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North America is estimated to contribute 40% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. In North America, biopreservation has emerged as an important feature of the research landscape over the past 15 years. Increasing funding from healthcare organizations, such as the National Institutes of Health (NIH), has fueled market growth in the region. The NIH continues to be the major source of funding and facilitator for biopreservation in the US. It is also focused on the biopreservation efforts in major healthcare institutions, such as the National Cancer Institute.
The outbreak of COVID-19 in 2020 affected all countries in North America, especially the US. However, as the preservation of biospecimen is intended to be used in a variety of applications such as biobanks and regenerative medicine, it has been demonstrated that the treatment of COVID-19 may make use of biopreservation. The development of chronic diseases will therefore trigger the growth of the region's market over the forecast period.
The biopreservation market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Technavio categorizes the Biopreservation Market as a part of the global life sciences tools and services market. The parent, global life sciences tools and services market covers products and companies engaged in research and development (R&D) of a variety of product categories, including capital equipment, instruments, accessories, and consumables that are used for (R&D) on pharmaceuticals and biotechnology products and laboratory diagnosis of various diseases. It also covers life sciences-related services, including contract research, contract manufacturing, and contract sales. Our market research report has extensively covered external factors influencing the parent market growth during the forecast period.
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Biopreservation Market Scope |
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Report Coverage |
Details |
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Page number |
153 |
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Base year |
2022 |
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Historic period |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 15.88% |
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Market growth 2023-2027 |
USD 2,406.21 million |
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Market structure |
Fragmented |
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YoY growth 2022-2023(%) |
15.34 |
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Regional analysis |
North America, Asia, Europe, and Rest of the World (ROW) |
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Performing market contribution |
North America at 40% |
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Key countries |
US, Germany, France, China, and Japan |
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Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
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Key companies profiled |
AMS Biotechnology Europe Ltd., ARCTIKO AS, Avantor Inc., Bio Techne Corp., BioLife Solutions Inc., Chart Industries Inc., Exact Sciences Corp., IC Biomedical LLC, Merck KGaA, NIPPON Genetics EUROPE GmbH, OPS Diagnostics LLC, PHC Holdings Corp., QIAGEN NV, Shanghai Genext Medical Technology Co. Ltd., So Low Environmental Equipment Co. Inc., STEMCELL Technologies Inc., Thermo Fisher Scientific Inc., ThermoGenesis Holdings Inc., Thomas Scientific LLC, and Trane Technologies Plc |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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