Bio-preservative is a technique for preserving cells, organs, and tissues outside the natural environment to extend shelf life and to ensure the stability and purity of cells, organ, and tissues. Bio-preservation plays a key role in the numerous clinical application which consists of cell-based technology. The equipment of Biopreservation comprises of the freezers, refrigerators, liquid nitrogen tanks etc. Biobanking is a kind of biopreservation which is commonly used in in medical research like genomics research and for personalized medicine. Increasing investment in research and development activities worldwide will drive the market growth over the estimated timeframe.
The biopreservation market is mainly driven by growing usage of plasma, tissues, stem cells, and DNA for medical research coupled with the surfacing of biomedical research for new therapies and drugs. Besides, advanced biopreservation methods and increasing healthcare expenditure have been one of the biggest drivers of this market. Research organisation and companies are taking efforts to create proficient and powerful products and services for biopreservation. Expanding utilization of biological laboratory specimens in different research and clinical trials should additionally support the biopreservation business development.
On the other hand, developments of technology for room temperature storage paired with economic limitations are major hurdles that might hamper the development of the biopreservation market.
The report analyses the biopreservation market based on type, biospecimen, application, end user and geography.
By type, biopreservation market is categorised into equipment, laboratory information management system (LIMS) and media. Various biopreservation equipment’s includes freezers, refrigerators liquid nitrogen (LN2) Tanks and consumables. The biopreservation media incorporates home-brew media and pre-formulated media. Technological advancements in biological freezers and refrigerators will drive the biopresrvation equipment market growth during the forecast period.
Biopreservation technique is used to preserve various biospecimens including human tissue samples, organs, stem cells etc. The demand of organ biopreservation is on a rise attributed to growing cases of organ failure worldwide, initiatives encouraging organ donation, and increasing elderly population.
Stem cells segment accounted for significant revenue share in and is estimated to witness lucrative growth during the forecast period. The segmental growth can be attributed to rising adoption of mesenchymal stem cells in several research studies and clinical trials. Moreover, ability of the stem cells to differentiate into different cell types such as cartilage cells, bone cells, muscle cells and adipocytes will boost its adoption resulting in segmental growth.
Biopreservation market finds application in therapeutic, research, clinical trials. Increasing number of government initiatives and funding to support research activities for the development of various treatment is key factor that escalates the growth of biopreservation market. Therapeutic segment will witness lucrative growth over the forecast period owing to its increasing adoption in treatment of severe and life-threatening illnesses. Increasing prevalence of chronic diseases leads to organ deformities thereby increasing demand for organ transplantation.
Geographically, the biopreservation market is studied across the countries of key regions such as, North America, Europe, Asia Pacific and rest of the world regions which includes Latin America, and Middle East & Africa. North America holds a prominent position in the global biopreservation market owing to increasing prevalence of lifestyle diseases such as diabetes, obesity and renal diseases, increasing government support in networking of bio-banks and international collaborations for expanding the scope of bio-banking etc. On the other hand, Asia pacific is anticipated to exhibit the fastest growth during the forecast period because owing to the factors such as large number of people suffering from chronic disease and increasing healthcare spending.
The major companies operating in the global biopreservation market include Thermo Fisher Scientific, Inc., Merck KGAA, Avantor, Inc., Thermogenesis Holdings, Inc., Bio-techne Corporation, Biolife Solutions, Inc., Exact Sciences Corporation, Worthington Industries, Inc., Chart Industries, Inc., Princeton Cryotech, Inc., Biocision, LLC, Stemcell Technologies Inc., Helmer Scientific, Inc., PHC Holdings Corporation and AMS Biotechnology (Amsbio) among others.
Global Biopreservation Market is segmented into Type, Biospecimen, Application, End User and Geography. By Type, the market is segmented into equipment, laboratory information management system (LIMS) and media. Various Biopreservation Equipment’s includes Freezers, Refrigerators Liquid Nitrogen (LN2) Tanks and Consumables. The Biopreservation Media incorporates Home-brew Media and Pre-formulated Media. By Biospecimen, the market is classified into Human Tissue Samples, Organs, Stem Cells and other biospecimens. Based on Application, the market is segmented into Therapeutic Applications, Research Applications, Clinical Trials and other applications. By End User, the market is classified into Biobanks, Hospitals and other end users. Geographically, the global Biopreservation market is segmented into North America, Europe, Asia Pacific and Rest of the World.
The major companies operating in the global Biopreservation Market include Thermo Fisher Scientific, Inc., Merck KGAA, Avantor, Inc., Thermogenesis Holdings, Inc., Bio-techne Corporation, Biolife Solutions, Inc., Exact Sciences Corporation, Worthington Industries, Inc., Chart Industries, Inc., Princeton Cryotech, Inc., Biocision, LLC, Stemcell Technologies Inc., Helmer Scientific, Inc., PHC Holdings Corporation and AMS Biotechnology (Amsbio) among others.
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