SAN FRANCISCO, June 14, 2018 /PRNewswire/ --
The global biopreservation market size is expected to reach USD 8.93 billion by 2022, according to a new report by Grand View Research, Inc., exhibiting a 17.3% CAGR during the forecast period. Rising demand for advanced preservation methods and constantly increasing healthcare spending is anticipated to fuel growth potential in future. Hospitals, pharmaceutical companies, and biotechnology firms are increasingly adopting systems for in-house storage of samples and this is anticipated to provide a significant boost to the market. Surging R&D investments by major companies and research communities striving to improve product development capabilities is also presenting the market with immense potential.
Technological advancements such as advent of virtual bio-banks, which is predicted to witness a significant upsurge in the application, is also resulting in market progression. In addition, increasing preference for maintaining repositories for biological specimens, for application in organ transplantation and regenerative medicine, has benefited the market. Presence of government initiatives such as International Society of Biological and Environmental Repositories to enhance bio-banking and preservation standards and practices is also broadening the scope for growth over the coming years.
Browse full research report with TOC on "Biopreservation Market Size, Share & Trends Analysis Report By Product (Equipment, Media, LIMS), By Application (Regenerative Medicine, Bio-banking, Drug Discovery), By Cell Provider, And Segment Forecasts, 2012 - 2022" at: https://www.grandviewresearch.com/industry-analysis/biopreservation-market
Further Key Findings From the Report Suggest:
- In 2014, equipment captured the dominant share by product owing to growing demand from bio-banks. High preservation costs of biological specimens has also benefited this segment
- The media segment, on the other hand, is predicted to witness exponential CAGR during the coming years as a result of wide adoption in regenerative medicine
- In 2014, bio-banking captured a substantial share in terms of application owing to growing number of tissue and organ transplantations and high awareness levels with respect to bio-banking
- Regenerative medicine, on the other hand, is anticipated to register the highest CAGR owing to major investments by public and private healthcare organizations in research focused on restorative therapy
- By cell provider, tumor cells captured the largest share in terms of volume in 2014, as a consequence of extensive application in R&D and treatment of cancers with high prevalence
- In 2014, North America accounted for the largest share in the biopreservation market, which can be attributed to existing government regulations supporting extensive usage of biological samples in regenerative medicine
- Asia Pacific is anticipated to observe exponential growth throughout the forecast period owing to unmet clinical needs in the region, coupled with continued infrastructure upgradation
- Key market players are involved in deploying extensive strategies such as new product development, mergers, and acquisitions to gain competitive edge over other players.
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Grand View Research has segmented the global biopreservation market on the basis of product, application, cell provider, and region:
- Biopreservation Product Outlook (Revenue, USD Million, 2012 - 2022)
- Microtiter Plates
- Liquid Nitrogen
- Laboratory Information Management System (LIMS)
- Biopreservation Application Outlook (Revenue, USD Million, 2012 - 2022)
- Regenerative Medicine
- Cell Therapy
- Gene Therapy
- Human Eggs
- Human Sperm
- Veterinary IVF
- Drug Discovery
- Regenerative Medicine
- Biopreservation Cell Provider Outlook (Volume, 000' Units, 2012 - 2022)
- Tumor Cells
- Biopreservation Regional Outlook (Revenue, USD Million, 2012 - 2022)
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
- South Africa
- North America
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About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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