Biopreservation Market size to exceed $9.5bn by 2030

Biopreservation Market size is anticipated to surpass USD 9.5 billion by 2030, as per a new research report announced by Global Market Insights Inc.
 

Increasing investment in research & development operations and advancements in biopreservatives as the chief drivers of the biopreservation industry. For instance, in July 2021, Merck declared the construction of a brand-new biotech research and development facility in Switzerland. For this purpose, the corporation invested USD 282.5 million and aimed to expand its product range of biopreservation in proteins.
 

Mounting number of clinical trials to increase media biopreservation industry share

Media segment is set to grow at a CAGR of over 8.5% through the review period. The escalating number of clinical trials as a result of the rising number of new diseases, such as COVID-19, monkeypox, Ebola, etc., will fuel the demand for media biopreservation in the upcoming years.
 

Surging cases of malignant cancer to push CD19+ segment revenues

CD19+ segment will capture a 13% share in the biopreservation market by 2030, due to growing predominance of malignant cancer. The immunoglobulin-induced activation of B cells and the generation of B cells independent of antigen are both induced through CD19+, which is also propelling segment expansion.
 

Browse key industry insights spread across 260 pages with 413 market data tables & 13 figures & charts from the report, “Biopreservation Market Analysis By Product (Equipment {Freezers, Refrigerators, Consumables [Vials, Straws, Microtiter, Bags], Liquid Nitrogen}, Media {Pre-formulated, Home-brew}, Laboratory Information Management System [LIMS]), By Application (Regenerative Medicine {Cell Therapy, Gene Therapy}, Biobanking {Human Eggs, Human Sperm, Veterinary IVF}, Drug Discovery), By Cell Provider (CD34+, CD19+, MSC, iPSC, hESC, Tumor Cells), Industry Analysis Report, Regional Outlook Growth Potential, Competitive Market Share & Forecast, 2022 – 2030” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/biopreservation-market
 

Expanding awareness about stem cells to augment industry outlook

Biopreservation market size from the drug discovery application segment surpassed USD 380 million in 2021. Increasing awareness regarding stem cell preservation will stimulate product adoption. The segment development will further be driven by the strong penetration of biopreservation in animal-assisted reproduction technology.
 

Europe emerges as a prominent revenue pocket for industry progress

Europe biopreservation market is poised to reach a USD 2 billion by 2030. The region may emerge as a major hub for this industry owing to favorable government investment toward healthcare advancements. In addition, escalating financial support for biobanking methods and services, coupled with notable partnerships and collaborations among market players based on biopreservation methods in the region, will foster regional market outlook.
 

Research and development to remain a key growth strategy

Some of the key players profiled in the biopreservation industry report include Arctiko A/S, Thermo Fisher Scientific Inc, PHC Holdings Corporation, Cryport, Inc, Eppendorf AG, Helmer Scientific, VWR International (Avantor, Inc.), Biolife solutions, Azenta, and Merck KGaA.
 

In August 2022, Azenta, a life sciences firm, announced the acquisition of B Medical Systems and its other subsidiary operating in temperature-controlled storage and transportation solutions. This acquisition was foreseen to help the company enhance its cold chain capabilities and maintain its position in the market.