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Biopreservation Market Size

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

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Biopreservation Market Size

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.

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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.

Biopreservation Market Report Attributes
Report Attribute	Details
Base Year:	2021
Biopreservation Market Size in 2021:	USD 4.5 Billion
Forecast Period:	2022 to 2030
Forecast Period 2022 to 2030 CAGR:	8%
2030 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:	Increasing investment in R&D Rising healthcare expenditure Advancement in biopreservation applications Growing necessity for regenerative medicine owing to rising prevalence of lifestyle diseases
Pitfalls & Challenges:	Requirement of room temperature storage technology Stringent regulations pertaining to biopreservation

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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.

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.