Biopreservation Market Size is Projected to Grow at a CAGR of 9.2% by 2026 | Valuates Reports

BANGALORE, India, June 29, 2021 /PRNewswire/ -- The Global Biopreservation Market is Segmented by Type (Biopreservation Media, Biospecimen Equipment, Freezers, Cryogenic Storage, Thawing Equipment, and Refrigerator), Application (Therapeutic, Research, Clinical Trials), End-user, and Geography – Industry Forecast to 2026. This report is published on Valuates Reports in the Pharmaceuticals & Biotech Category.

The Biopreservation Market is projected to grow at a rate of 9.2% CAGR by 2026.

Major factors driving the growth of the Biopreservation market are:

• The rising incidence of chronic diseases, including cardiac, renal diseases, diabetes, and obesity will propel the biopreservation market growth.
• Furthermore, government initiatives to encourage stem cell therapies to treat the disease will propel market growth.
• Rising investments in regenerative medicine research and the increasing demand for personalized medicine are also expected to drive the Biopreservation market growth.
• Need to increase the shelf life of food is expected to drive the growth of the Biopreservation market size.

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TRENDS INFLUENCING THE GROWTH OF THE BIOPRESERVATION MARKET

The presence of government healthcare initiatives that provide funds, grants, and contracts for research has resulted in providing expedited growth to R&D activities deployed by various companies. This has, in turn, resulted in widening the scope for adoption of advanced Biopreservation services, which is anticipated to drive the growth of the Biopreservation market.

The expanding use of plasma, tissues, stem cells, and DNA for medical research, as well as the rise of scientific research for new cures and pharmaceuticals, are driving the biopreservation market.

In addition, one of the key drivers of this industry has been enhanced biopreservation procedures and rising healthcare spending. Biopreservation goods and services are being developed by research organizations and businesses. Increasing the use of biological laboratory specimens in various research and clinical trials should also help the biopreservation market growth.

Technological advancements in Biopreservation processes are also major factors driving the growth of the Biopreservation market. These technological upgrades in Biopreservation have led to long-term preservation and banking of complex organs and tissues of high importance in regenerative medicine and organ transplantation.

The growing awareness of the risks of foodborne disease transmission through vegetable foods, combined with customer desires for foods that are fresh-tasting and minimally preserved, has fueled a growing interest in using biopreservation concepts for preserving food. Biopreservation uses natural or controlled microbiota or antimicrobials as a way of preserving food and extending its shelf life. Beneficial bacteria or the fermentation products produced by these bacteria are used in biopreservation to control spoilage and render pathogens inactive in food.

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BIOPRESERVATION MARKET SHARE ANALYSIS

Based on type, the biopreservation media segment is expected to be the most lucrative segment during the forecast period. The rising need for biobanking for tissues and stem cells to aid in life science research is a major factor driving this section of the biopreservation market forward.

Based on application, the therapeutic segment is expected to drive the biopreservation market. Because of improvements in regenerative medicine and personalized medicine, an increase in cord blood banking, and the increased incidence of chronic diseases, biopreservation is predominantly used in therapeutics.

Based on end-users, the biobanks category is likely to account for a significant portion of the market. The growing demand for the preservation of stem cells, as well as the growing number of sperm and egg banks, are the major factors driving the growth of this segment. 

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BIOPRESERVATION MARKET SEGMENTS

By Type

• Biopreservation Media
• Nutrient Media
• Sera
• Growth Factors & Supplements
• Biospecimen Equipment
• Temperature Control Systems
• Freezers
• Cryogenic Storage Systems
• Thawing Equipment
• Refrigerators
• Accessories
• Alarms & Monitoring systems
• Incubators
• Centrifuges
• Other Equipment.

By Application

• Therapeutic Applications
• Research Applications
• Clinical Trials
• Other Applications.

By End-User

• Biobanks
• Gene Banks
• Hospitals
• Other End Users.

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SIMILAR REPORTS :

-  Biopreservation Thawing Equipment Market is segmented by Type Human Tissue, Organs, Stem Cells, by Application Therapeutic Research, Clinical Trials and by various regions.

-  Biopreservation Refrigerator Market is segmented by Type Incubator, Centrifuge, by Application Academic Research, Medical Service, Commercial and by various regions.

-  Cryogenic Storage Systems Market is segmented by Type 463L Cryogenic Storage Systems, 797L Cryogenic Storage Systems, by Application Laboratory, Hospital, Food Industry and by various regions.

-  Clinical Trials Market is segmented by Application Interventional, Observational, Expanded Access and by various regions.

-  The global Regenerative Medicine market size is projected to reach USD 116810 Million by 2026, from USD 33730 Million in 2019, at a CAGR of 19.4% during 2021-2026. The USA is the largest market of regenerative medicine, occupying 51.09 percent of global regenerative medicine market share in 2015. It is followed by the EU, which has around 16.66 percent of the global total industry. Other main regions which take an important part in this industry include Japan and China.

-  The global biobanking market was valued at USD 42,104.30 Million in 2020, and is estimated to reach USD 69,518.70 Million by 2028, growing at a CAGR of 6.20% from 2021 to 2028.

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