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Biopreservation Market Analysis

Report ID: GMI762
Published Date: Sep 2022
Report Format: PDF

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Biopreservation Market Analysis

Biopreservation Market, by Product

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.

Biopreservation Market, by Cell Provider

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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.

Biopreservation Market, by Application

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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.

Biopreservation Market, by Region

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.

Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

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.

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.

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 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.

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.

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.

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.