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The biopreservation market size is estimated to grow by USD 4.04 billion, at a CAGR of 20.92% between 2023 and 2028. The market is experiencing significant growth due to several key trends. The increasing demand for personalized medicine is driving market growth, as biopreservation plays a crucial role in storing and preserving biological samples for future use in customized treatments. Another trend is the emergence of stem cell storage in biobanks, which offers new opportunities for medical research and therapeutic applications. However, ethical and privacy concerns surrounding the collection, storage, and use of biological samples pose challenges to market growth. Ensuring strict compliance with regulatory guidelines and implementing security measures to protect patient data are essential for market players to mitigate these challenges and maintain trust with their customers.
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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 786.30 million in 2018. 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 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. The market encompasses various applications in egg banking, reproductive technology, regenerative medicine, and biomedical research. Chronic incidences, such as cancer, drive the demand for advanced techniques and storage equipment in biobanks and tissue biobank services. Organ transplants and the use of biological samples in healthcare expenditure necessitate the importance of maintaining the viability of these samples through cryogenic storage. Thermo Fisher Scientific and other leading providers offer biopreservation equipment to mitigate risks of ice crystal formation and contamination during cold chain transportation and storage. Quality control measures ensure the integrity of samples, while advanced techniques in biorepositories, such as Qatar BioBank, facilitate research and personalized medicine. Reproductive technology and regenerative medicine continue to expand the biopreservation market, with a focus on improving the quality and accessibility of biological samples for various applications.
The market is witnessing significant growth due to the increasing demand for biological products, including cells, tissues, vaccines, and biologics, from hospitals and research labs. Controlled freezers are essential for the preservation of these delicate biological materials, ensuring their viability and potency. The market is driven by the rising incidences of chronic diseases such as cardiovascular disorders and cancer, leading to increased healthcare spending on advanced treatments like gene therapy and stem cell research. Biological products, including vaccine production and antibody production, are also gaining popularity due to the advancements in enzyme technology and biologically produced chemicals. The market is further boosted by the growing demand for plasma and tissue culture in various applications. Skilled professionals, cybersecurity measures, labor training, software standardization, and bio-banking are crucial factors influencing the market's growth. Overall, the biopreservation market is expected to experience growth due to the increasing demand for advanced biological solutions in healthcare and research applications.
The surging demand for personalized medicine is propelling market expansion. Meeting the substantial medical need to devise effective therapies for various diseases has spurred the requirement for personalized medicine, thus escalating the necessity for biopreservation. In this landscape, market players may find themselves in a transformative position. Personalized medicine tailors treatments to individual needs and preferences, prompting individuals to increasingly bank their tissues and stem cells for potential future treatments.
Crucially, personalized medicine relies on the availability of individual samples with annotated clinical and pathological data. Research institutions are currently exploring the potential of developing personalized treatments using biosamples. Biobanking, a form of biopreservation, significantly contributes to personalized medicine and genomics research. Consequently, the rising demand for personalized medicine is set to drive global demand for biopreservation, fostering market growth.
The emergence of stem cell storage in biobanks is a primary trend in the 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 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 market during the forecast period.
Ethical issues are a major challenge in a 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 market during the forecast period.
The market research and growth 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 market growth and forecasting report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Customer Landscape
Companies 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 market forecasting report also includes detailed analyses of the competitive landscape of the market and information about 15 market Companies, including:
Qualitative and quantitative analysis of Companies 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 Companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize Companies as dominant, leading, strong, tentative, and weak.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD Billion" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments.
The market is witnessing significant growth due to the increasing demand for biological products, including cells, genes, tissues, organs, and vaccines, in hospitals and research labs. Hospitals and labs are investing heavily in product development and funding assistance to advance biotechnology innovations, such as gene therapy, biologics, and vaccine technologies. These advancements include controlled freezers, microarrays, predictive models, API algorithms, multiplex cellular imaging, and disease progression diagnostic measures. The market is also driven by the rising incidences of chronic diseases, such as cardiovascular disorders and cancer, which require advanced treatment measures like immunotherapies, antibody production, enzyme technology, and biologically produced chemicals.
In addition, healthcare spending on these treatments is expected to increase, leading to further market growth. Moreover, the market is witnessing technology innovations in areas like bio-banking, plasma, tissue culture, and sperm preservation. Skilled professionals and cybersecurity measures are essential to ensure the safety and efficacy of these biological products. Labor training and software standardization are also crucial to maintain the quality and consistency of these advanced technologies.
Market Scope |
|
Report Coverage |
Details |
Page number |
166 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 20.92% |
Market growth 2024-2028 |
USD 4.04 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
16.75 |
Regional analysis |
North America, Asia, Europe, and Rest of World (ROW) |
Performing market contribution |
North America at 40% |
Key countries |
China, Germany, US, Canada, and India |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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 |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, Market growth and Forecasting, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for market forecast period |
Customization purview |
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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 Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
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