The global Biopreservation market is forecasted to reach USD 5.63 Billion by 2027, according to a new report by Reports and Data. A rise in the incidence of chronic diseases, such as renal, cardiac, cancer, and Diabetes, will propel the demand for the market.
According to the International Diabetes Federation (IDF), approximately 463 million adults, in 2019, were living with Diabetes, and by the year 2045, the number is expected to rise to 700 million. The disease led to 4.2 million deaths and caused the healthcare sector USD 760 billion. Cancer caused almost 9.6 million deaths in 2018. The number of cases is expected to rise to 30 million by 2040 from 18 million in 2018.
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Moreover, factors like varying disease patterns, increasing awareness among the population for general wellness and overall healthcare, flexible government policies and regulations together with the applicability of stem cells in research centers focusing on cancer treatment is estimated to escalate the market demand across regions in the upcoming years.
North America dominates the market owing to the increasing number of manufacturers, the spread of infectious diseases, improved health care infrastructure, and the development of various new products. Increasing the production of innovative products and the growth of manufacturers in their countries has led Europe to progress its global presence in the industry supported by mergers and acquisitions that are increasing the global presence of European markets.
Further key findings from the report suggest:
- The demand for biospecimen equipment is growing due to its extensive application in plasma, stem cells, DNA, and tissue research. The surge in adoption can also be accredited to certain benefits such as high-cost efficiency, storage capacity, and low maintenance.
- Stem cells are used in regenerative medicine, especially in the field of dermatology. The market for stem cell is witnessing an increased growth owing to the increased number of clinical trials across the globe.
- Successful clinical and commercial applications of biospecimens require practical and robust cryopreservation protocols. Stem cells are notoriously sensitive to cryopreservation, which required specialized protocols to maintain the optimal cell viability and recovery.
- The number of Biopreservation banks is increasing in developing nations, which is further driving the market growth. Also, increasing awareness regarding the storage of stem cells has had a positive effect on the market. The market is still at a nascent stage, but it holds potential in both therapeutic and diagnosis fields.
- North America is expected to account for a significant share of the global cell expansion market. The United States will be the primary contributor and is likely to witness high growth due to the huge amount of funding by the government and private firms for clinical trials. The region is forecasted to grow with a CAGR of 9.0% during the forecast period.
Competitive Landscape:
The report also focuses on details of each market player including its global position, financial standing, revenue generation, company overview, product & service portfolio. The Biopreservation market is extremely competitive and consists of several key players at regional and global level. Key players are focused on adopting various strategies such as new product launches, mergers and acquisitions, investments in R&D, partnerships, joint ventures and collaborations to strengthen their market position and enhance product portfolio.
Leading companies operating in the market are:
Merck KGaA, ThermoGenesis Holdings, Inc., Thermo Fisher Scientific Inc., Avantor, Inc., Bio-Techne Corporation, Exact Sciences Corporation, BioLife Solutions, Inc., and Worthington Industries, Inc., BioCision, and Chart Industries, Inc., among others.
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The report also offers detailed insights about market segmentation based on type, application and regional bifurcation:
Biopreservation Market Segmentation:
Type Outlook (Revenue, USD Billion; 2017-2027)
- Biospecimen Equipment
- Biopreservation Media
- Cryogenic Storage Systems
- Freezers
- Refrigerators
- Thawing Equipment
Biospecimen Outlook (Revenue, USD Billion; 2017-2027)
- Organs
- Human Tissue Samples
- Stem Cells
- Others
Application Outlook (Revenue, USD Billion; 2017-2027)
- Research Applications
- Therapeutic Applications
- Clinical Trials
- Others
Geographic Segment Covered in the Report:
The Biopreservation report provides information about the market area, which is further subdivided into sub-regions and countries/regions. In addition to the market share in each country and sub-region, this chapter of this report also contains information on profit opportunities. This chapter of the report mentions the market share and growth rate of each region, country, and sub-region during the estimated period.
• North America (the USA and Canada)
• Europe (UK, Germany, France, and the rest of Europe)
• Asia Pacific (China, Japan, India, and the rest of the Asia Pacific region)
• Latin America (Brazil, Mexico, and the rest of Latin America)
• the Middle East and Africa (GCC and the rest of the Middle East and Africa)
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Key market aspects are illuminated in the report:
- Executive Summary: It covers a summary of the most vital studies, the Global Biopreservation market increasing rate, modest circumstances, market trends, drivers and problems as well as macroscopic pointers.
- Study Analysis: Covers major companies, vital market segments, the scope of the products offered in the Global Biopreservation market, the years measured, and the study points.
- Company Profile: Each Firm well-defined in this segment is screened based on a products, value, SWOT analysis, their ability and other significant features.
- Manufacture by Region: This Global Biopreservation report offers data on imports and exports, sales, production and key companies in all studied regional markets.
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