Global Biopreservation Market Size & Share to Surpass $23.3 Billion by 2030 | Vantage Market Research

WASHINGTON, Sept. 11, 2023 (GLOBE NEWSWIRE) -- As per Vantage Market Research, the Bio-Preservation sector is undergoing expansion propelled by a range of factors, including its widespread utilization across medical facilities and laboratories, increased financial support from both governmental and private entities in the healthcare domain, a notable surge in research and development activities, and the continuous advancements achieved in terms of product innovation.

According to Vantage Market Research, the Global Biopreservation Market is estimated to be valued at USD 23.3 Billion by 2030 and is expected to exhibit a CAGR of 29.1% from 2023 to 2030. The global Bio-Preservation market grew to USD 3 Billion in 2022.

Bio-Preservation encompasses conserving biological specimens, including cells, tissues, organs, and embryos, through exposure to low temperatures to sustain their viability and operational integrity. Activities within the Bio-Preservation market involve providing products and services essential for effective Bio-Preservation, encompassing storage systems, specialized media, and necessary reagents.

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Key Highlights

• By Product, the Media segment is anticipated to mention the fastest growth of the market during the forecast period.
• By Application, the Regenerative Medicine segment is expected to witness maximum market growth over the projected period.
• North America topped the market in 2022 with a 46.2% sales share.
• The Asia Pacific region is expected to witness top market growth during the forecast period.

Bio-Preservation is a crucial procedure that upholds the structural and functional integrity of biological entities like stem cells, DNA, tissues, and organs, extending their lifespan even when subjected to varying temperatures beyond their natural habitat. Technological advancements in this field encompass innovations like microarrays and the integration of a diverse array of predictive models, including hybrid models and various API algorithms. These innovations streamline the Bio-Preservation process, curbing time, cost, and complexity. Moreover, the emergence of multiplex cellular imaging platforms is poised to elevate Bio-Preservation capabilities. This enhancement aids in comprehending the progression of diseases. It offers valuable insights for suitable diagnostic and treatment strategies, particularly within specialized medical domains such as cardiology, gynecology, and point-of-care applications.

Top Companies in The Global Biopreservation Market

• BioCision LLC (U.S.)
• BioLife Solutions Inc. (U.S.)
• Cesca Therapeutics Inc. (U.S.)
• Core Dynamics Ltd. (U.S.)
• Custom Biogenic Systems Inc. (U.S.)
• Lifeline Scientific Inc. (U.S.)
• Merck KGaA (Germany)
• Princeton CryoTech Inc. (U.S.)
• VWR International (U.S.)
• Azenta US Inc. (U.S.)
• Thermo Fisher Scientific Inc. (U.S.)
• MVE Biological Solutions (U.S.)

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Factors Affecting the Growth of the Biopreservation Industry

The development of the Bio-Preservation sector can be impacted by a number of things. Some of these factors include:

• Increasing Demand for Organ Transplants: The growing prevalence of organ failure and the rise in organ transplant procedures have fueled the demand for Bio-Preservation methods. Bio-Preservation helps to improve the longevity of donated organs and increases the chances of successful transplantation.
• Advancements in Regenerative Medicine: The field of regenerative medicine, which aims to restore, replace, or regenerate damaged tissues and organs, heavily relies on Bio-Preservation techniques. Preserving stem cells, tissue engineering scaffolds, and other regenerative medicine products requires specialized storage conditions, contributing to the growth of the Bio-Preservation market. For instance, according to sources, the need for regenerative medicine is projected to reach $49.41 billion by 2027, indicating a significant demand for Bio-Preservation methods to support research and development in this field.
• Rising Biobanking Activities: Biobanks serve as repositories for biological samples and data crucial for biomedical research and personalized medicine. The demand for Bio-Preservation products and services has grown substantially with the increasing focus on precision medicine and the need for large-scale sample storage.
• Technological Advancements in Cryopreservation: Cryopreservation is a standard method used for Bio-Preservation involving freezing samples at ultra-low temperatures. Recent advancements in cryopreservation techniques, such as vitrification and controlled-rate freezing, have improved biological samples' preservation efficiency and post-thaw viability, driving market growth.

Top Trends in Global Bio-Preservation Market

The Bio-Preservation market has witnessed a surge in demand due to the growing popularity of personalized medicine. Personalized medicine involves tailoring medical treatments based on an individual's genetic makeup and specific health conditions. Bio-Preservation plays a vital role in storing and preserving biological samples for genetic testing, drug discovery, and the development of targeted therapies. For example, biobanks, which hold extensive collections of biological samples, are essential for researching genetic factors contributing to diseases and developing individualized treatment options. The burden of chronic diseases, including diabetes, cancer, and cardiovascular diseases, has been rising dramatically globally. Bio-Preservation techniques are crucial in storing disease-specific samples and biological materials that can be used for diagnostic purposes, biomarker identification, and drug development. For instance, tumor biobanks store cancer specimens, allowing researchers and pharmaceutical companies to study cancer's genetic and molecular aspects to develop effective therapeutics.

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Recent Development of the Global Bio-Preservation Market

• June 2023: Bio-Life Solutions Inc. has unveiled a novel controlled-rate freezer (CRF) with a substantial capacity to enhance and diversify its CRF product range. This recent addition to their lineup is strategically designed to cater to the requirements of both autologous and allogeneic cell and gene therapy (CGT) clients and to bolster the company's capabilities in commercial-scale manufacturing.
• June 2023: PHC Holdings Corporation has officially disclosed its acquisition of the remaining 30% stake in its subsidiary, SciMed (Asia) Pte. Ltd. This strategic move has resulted in SciMed becoming a wholly owned subsidiary of PHCHD. This acquisition is pivotal in the company's endeavor to extend its influence within the life sciences sector throughout the Asia-Pacific region.
• January 2023: Thermo Fisher Scientific Inc. has successfully finalized its merger and acquisition (M&A) arrangement with The Binding Site Group, a renowned global leader in specialty diagnostics. This strategic maneuver was undertaken to augment Thermo Fisher's existing portfolio within specialty diagnostics.
  
  

Market Drivers

The global market is experiencing a noteworthy impact due to the escalating demand for biobanking. Biobanks are repositories designed to securely house diverse biological samples, encompassing cells, tissues, blood, DNA, and other biomaterials, all earmarked for research and diagnostic applications. These biobanking techniques are pivotal in upholding these samples' integrity, viability, and operational functionality, ensuring their sustained preservation and utility over extended periods. The mounting requirement for expansive population-based studies, clinical trials, and research initiatives necessitating access to a wide range of meticulously preserved biological specimens is profoundly influencing the overarching biobanking sector on a global scale. Furthermore, the amplified emphasis on precision medicine and personalized healthcare has significantly underscored the importance of biobanks. These repositories provide a comprehensive assortment of samples that serve as invaluable resources for activities such as genomic testing, the exploration of biomarkers, and the development of tailored therapeutic interventions, thus aligning with the evolving landscape of medical advancements.

Market Restraints
The Bio-Preservation process involves sophisticated equipment, specialized storage facilities, and skilled professionals, making it expensive. The high cost of Bio-Preservation can limit its adoption, especially in developing countries with limited financial resources. In addition, there needs to be standardized protocols for Bio-Preservation, which can lead to inconsistencies in preserving biological samples. The variability in preservation protocols can impact the quality and viability of preserved specimens, affecting their potential use in research and clinical applications.

Market Opportunities
Bio-Preservation stands as a pivotal factor in the progression of regenerative medicine. The escalation in financial investments made by companies to support pharmaceutical enterprises centered around Bio-Preservation, catering to the burgeoning need for preserving tissues and cells, is expected to be a driving force behind the market expansion. An illustrative instance of this trend was seen in December 2021 when X-Therma Inc., a biotechnology startup focused on developing regenerative medicine and organ preservation technology, successfully concluded an oversubscribed Series A funding round, raising USD 13 million. LOREA AG, an investment firm driven by entrepreneurs, led this funding endeavor. It attracted participation from distinguished returning angel investors and entities like Zen11 Holdings, Graphene Ventures, VU Venture Partners, Methuselah Foundation, and others.

Browse market data Tables and Figures spread through 144 Pages and in-depth TOC on Biopreservation Market Forecast Report (2023-2030).                     

Report Segmentation of the Global Bio-Preservation Market

Product Analysis
The media segment is predicted to hold the market's most significant growth during the forecast period. Media applications provide enhanced functionalities and comprehensive insights, enabling researchers to conveniently access and exchange research data and analyses. This advancement significantly bolsters their capacity to engage in research, facilitate diagnoses, monitor conditions, and implement effective treatments for various health disorders. This prevailing trend is poised to exert a considerable influence on the expansion of the market throughout the projected forecast period.

Application Analysis
Regenerative Medicine is expected to express the maximum growth of the market during the forecast period, primarily attributed to the mounting need for cutting-edge Bio-Preservation techniques. Global collaborations within the field of regenerative medicine aimed at enhancing research and development efforts are forecasted to contribute to the expansion of this segment significantly. The September 2021 Regenerative Medicine Catalyst Project launch is an illustrative case, a collaborative effort involving seven partners. This initiative was established to oversee and advance regenerative medicine research and funding within the nation across three years. Furthermore, the need for regenerative medicine applications that employ Bio-Preservation methods to treat fatal diseases like cancer is predicted to expand, which will ultimately fuel this market's expansion.

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Market Segmentation

By Product

• Equipment (Dominating 71.6%)
  • Freezers
  • Refrigerators
  • Consumables
    • Vials
    • Straws
    • Microtiter Plates
    • Bags
  • Liquid Nitrogen
• Media (Forecast)
  • Pre-formulated
  • Home-brew
• Laboratory Information Management System (LIMS)
  
  

By Application

• Regenerative Medicine (Forecast)
  • Cell Therapy
  • Gene Therapy
  • Other Regenerative Medicines
• Bio-banking (Dominating 68.4%)
  • Human Eggs
  • Human Sperms
  • Veterinary IVF
• Drug Discovery
  
  

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa
  
  

Scope of the Report:    

Regional Analysis

North America was the largest revenue-generating region in the Bio-Preservation market in 2022. This prominence can be attributed to the region's notable advancements in biomedical research and the continual progress in advanced therapies. Additionally, the increasing prevalence of chronic conditions necessitating treatment has spurred the demand for Bio-Preservation in the area, solidifying its market position. These activities are anticipated to be pivotal in expanding the available Bio-Preservation products within the market, ultimately propelling its growth trajectory. The United States, in particular, is projected to experience substantial growth in the Bio-Preservation market. This projection stems from the involvement of governmental organizations and various bio-banking institutes, contributing to the widespread adoption of Bio-Preservation techniques. For instance, the collection of biospecimens in biorepositories and biobanks benefits from funding initiatives led by the National Institutes of Health (NIH). At the same time, the National Cancer Institute (NCI) actively manages such bio-banking programs. These established biobanks support the country's research and clinical trial endeavors, thus driving an increased demand for advanced Bio-Preservation techniques.

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