Biopreservation Market
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Biopreservation Market size surpassed USD 4.5 billion in 2021 and is expected to grow at over 8% CAGR between 2022 and 2030. Growing prevalence of chronic diseases will drive the global market expansion.
Biopreservation extends the shelf life of food by adding natural or controlled antimicrobials or microbiota. The surging demand for biopreservatives in the pharmaceutical industry will foster market outlook. The growing number of people diagnosed with chronic diseases, such as diabetes, heart diseases, and ailments affecting the joints, nerves, bones, and more, will amplify the adoption of regenerative therapies. Biopreservation techniques are vital for regenerative medicines in order to maintain their integrity and functionality.
Additionally, the development of next-generation cryopreservation methods, upgradation of hypothermic storage formulation, and integration and design of nanoscale technologies have encouraged pharmaceutical companies, biotechnology firms, and hospitals to adopt in-house systems of the samples, fueling market value.
| Report Attribute | Details |
|---|---|
| Base Year: | 2021 |
| Biopreservation Market size in 2021: | USD 4.5 Billion |
| Forecast Period: | 2022 to 2030 |
| Forecast Period 2023 - 2032 CAGR: | 8 |
| 2023 Value Projection: | USD 9.5 Billion |
| Historical Data for: | 2017 to 2021 |
| No of Pages: | 260 |
| Tables, Charts & Figures: | 426 |
| Segments Covered: | Product, Application, Cell provider, and Region |
| Growth Drivers: |
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| Pitfalls Challenges: |
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Favorable government initiatives and growing adoption of biopreservation techniques from the world's expanding biobanks for the preservation of plasma, cells, tissue, and DNA will also promote biopreservation market growth. The companies in the field are majorly engaging in rigorous research and development activities, along with strategic mergers, acquisitions, and partnerships, to maintain their business standing.
The requirement for room temperature storage technology is a major factor restraining industry landscape. For instance, vaccines save around 3 million lives annually in the U.S., however, vaccines worth around USD 20 million are wasted or discarded annually owing to incorrect refrigeration and storage. Freezing and thawing frequently result in tissue damage or cell harm, which is hampering market revenue. Nonetheless, ongoing research associated with the longevity of products, such as vaccines, genes, and others, preserved using biopreservation techniques, will propel market forecasts.
In terms of product, the biopreservation market is categorized into equipment, media, and laboratory information management system (LIMS). The laboratory information management system segment is set to cross USD 630 million by 2030. The LIMS is used for data management of preserved samples and will witness significant demand due to the soaring number of storage facilities. Moreover, emerging technological advancements, which are leading to efficient biopreservation techniques, will accelerate industry trends.
With respect to cell provider, the biopreservation market is divided into CD34+, CD19+, MSC, iPSC, hESC, and tumor cells. The tumor cells segment is projected to exceed USD 1.5 billion by 2030. This is attributed to the increasing prevalence of cancer across the globe, which requires advanced biopreservation systems to store therapeutic medicines and injections.
In terms of application, the biopreservation market is segregated into regenerative medicine, biobanking, and drug discovery. The biobanking segment will register a share of over 70% in the biopreservation industry by 2030. A prominent factor that is contributing to the growth of the biobanking segment is the escalating number of biobanks around the world for conducting biopreservation techniques.
Asia Pacific biopreservation market anticipated to surpass USD 2 billion by 2030 owing to the expanding population and prevalent unmet healthcare needs. Moreover, the mounting awareness regarding the preservation of umbilical cord cells and snowballing investment in healthcare research activities will spur the business potential.
Another region that may appear as a key revenue hub is Latin America. The strong government research and development support will boost the acceptance of bio-storage, which in turn is estimated to impel regional market expansion. The LATAM biopreservation business is primed to depict strong growth at more than 8.5% CAGR through 2030.
are some of the key players in the biopreservation industry. The companies are focusing on diversifying their product portfolio and introducing new promising developments in the field, along with undertaking strategic acquisitions, to strengthen their industry position.
The COVID-19 pandemic had a negative impact on the biopreservation industry due to the disruption in the supply and demand chains as a result of decreasing product uptake. However, with the easing of restrictions in 2021 due to the decline in coronavirus cases, the demand for vaccine and treatment drugs for COVID-19 increased, thereby fueling the overall business progress.
The biopreservation market report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2018 to 2030 for the following segments:
By Product
By Application
By Cell Provider
The above information is provided for the following regions and countries:
Some of the major manufacturers in the market include Crompton Greaves Consumer Electricals Limited, Grundfos Holding A/S, Weatherford, Flowserve Corporation, Schlumberger Ltd., and Atlas Copco AB.
The market size of high temperature overhead conductor crossed USD 197 million in 2022 with a growth prediction of 5% CAGR between 2023 and 2032, due to surge in energy consumption and increased spending on upgradation or retrofit of aging T&D infrastructure.
APAC high temperature overhead conductor market value is estimated to witness over 6% CAGR from 2023 to 2032, with higher investments in upgrading electricity infrastructure and power generation capacity, especially across emerging economies.
The high tension applications will grow at over 4.5% CAGR through 2032, with ongoing commercial expansion in developing nations and increased renewables integration worldwide.
Asia Pacific biopreservation market is expected to cross USD 2 billion by 2030 on account of snowballing investment in healthcare research activities in the APAC region.
The biobanking application segment is expected to hold a revenue share of around 70% by 2030 owing to the rising number of biobanks worldwide.
Laboratory information management system (LIMS) segment is poised to reach USD 630 million by 2030 as a result of emerging technological advancements that are providing efficient biopreservation techniques.
The global market size for biopreservation accounted for more than USD 4.5 billion in in 2021 and is set to progress at a CAGR of over 8% through 2030.