Biopreservation Market Size To Reach USD 14.3 Billion By 2032, Growing At A 17.0% CAGR – SNS Insider

(MENAFN- GlobeNewsWire - Nasdaq) The Global Biopreservation Market Growth is driven by advancements in biopreservation technologies, government funding, and increasing applications in regenerative medicine, biobanking, and tissue engineering.

Pune, Dec. 18, 2024 (GLOBE NEWSWIRE) -- Biopreservation Market Size & Growth Analysis:

“According to SNS Insider, the global Biopreservation Market was valued at USD 3.5 billion in 2023 and is projected to grow to USD 14.3 billion by 2032, with a CAGR of 17.0% over the forecast period of 2024-2032.”

Rising demand for the global biopreservation market is attributed to factors such as technological advancements, high demand for reliable preservation of biological samples, and extensive applications in the healthcare and pharmaceutical sectors. Biopreservation, the preservation of cells, tissues, or organs via natural or controlled mechanisms, is one of the principal applications of biobanking, drug development, and clinical research. According to the World Health Organization (WHO) report, over 1,000 global medical research projects over the next 10 years will utilize biobanking, which will increase the need for biopreservation technologies.

The increasing demand for biological samples with improved viability and longer shelf life has driven researchers to adopt biopreservation techniques comprising cryopreservation and biopreservation media. It has proven especially useful in the preservation of stem cells, blood components, and other critical biomedical materials that are used for research and clinical applications. As an example from the U.S., in 2024 the National Institutes of Health (NIH) will provide more than USD 150 million in investment to develop biobanking infrastructure to create more space for storing biological samples for precision medicine. With the increasing interest in stem cell research and regenerative medicine, which are estimated to generate over USD 1.8 billion in revenue by 2030, the necessity for biopreservation is expected to increase globally.

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Governments and regulatory bodies around the world are increasingly recognizing the importance of biopreservation in advancing healthcare outcomes. In 2023, biobanking and biopreservation technologies received more than USD 200 million in funds from the U.S. National Institutes of Health (NIH), which recognizes these technologies as fundamental catalysts for medical developments. In addition, the introduction of new Food and Drug Administration (FDA) biopreservation guidelines for drug manufacturing has also driven the demand for new solutions for innovation in the market.

Biopreservation Market Companies Analysis Listed in this Report are:

• Thermo Fisher Scientific
• Avantor
• Sigma-Aldrich (Merck Group)
• Panasonic Healthcare
• BioCision
• Haier Biomedical
• Sartorius AG
• B Medical Systems
• Nuaire
• VWR International and others

Biopreservation Market Report Scope:

Report Attributes	Details
Market Size in 2023	US$ 3.5 billion
Market Size by 2032	US$ 14.3 billion
CAGR	CAGR of 17.0% From 2024 to 2032
Base Year	2023
Forecast Period	2024-2032
Historical Data	2020-2022
Key Regional Coverage	North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East]), Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia Rest of Latin America)

Segment Analysis

By Product

In 2023, the equipment segment dominated the global biopreservation market and accounted for the highest revenue share of 76%. The demand for biopreservation equipment, such as freezers, cryogenic tanks, and bioreactors, is primarily driven by their critical role in ensuring the safe storage of biological samples. The increasing use of automated storage systems and advanced cryopreservation technologies is also contributing to the growth of this segment.

Moreover, advancements in automated biopreservation equipment are enhancing the efficiency and accuracy of sample storage, which is vital for biobanking applications. The growing adoption of robotic systems and AI-driven monitoring tools for biological sample storage is expected to further expand the market for biopreservation equipment in the coming years.

By Application

The biobanking segment accounted for the largest market share of 69% in 2023. Biobanks play an important role in collecting, storing, and managing biological samples for research, clinical trials, and personalized medicine. The increasing focus on genomic studies, rare disease research, and drug discovery has heightened the need for biobanks, driving the demand for biopreservation solutions. Additionally, the rise in personalized medicine is fueling the need for high-quality biological samples, further boosting the market for biopreservation in biobanking.

The regenerative medicine segment is also experiencing rapid growth, as advances in stem cell research and tissue engineering continue to demand effective preservation methods for biological materials. As more clinical trials focus on personalized therapies and cell-based treatments, biopreservation technologies will continue to play a crucial role in supporting these endeavors.

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Biopreservation Market Segmentation:

By Product

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

By Application

• Regenerative Medicine
  • Cell Therapy
  • Gene Therapy
  • Others
• Bio-banking
  • Human Eggs
  • Human Sperms
  • Veterinary IVF
• Drug Discovery

Regional Analysis

North America led the biopreservation market in 2023, accounting for 42% of the revenue share. The region's dominance can be attributed to the presence of a robust healthcare infrastructure, ongoing advancements in biopreservation technologies, and the growing number of clinical trials and biobanking initiatives. The U.S. remains the largest market for biopreservation equipment and services, thanks to its strong pharmaceutical and biotechnology industries. Government funding for medical research and the growing adoption of regenerative medicine further support the region's leadership in the biopreservation market. In 2023, the U.S. government's NIH allocation for cell-based research and regenerative therapies contributed significantly to the demand for advanced biopreservation solutions. Furthermore, the increasing prevalence of chronic diseases and the aging population are driving the need for more effective biopreservation techniques in North America.

The Asia-Pacific region is expected to be the fastest-growing market for biopreservation, with a significant rise in healthcare investments and the growing adoption of advanced medical technologies. Countries like China and India are witnessing rapid advancements in biobanking infrastructure, driven by government initiatives and increasing investments in research and development. The region's expanding healthcare and pharmaceutical sectors are also expected to contribute to the market growth. The Asian Development Bank (ADB) projects healthcare spending in the region to grow by 40% by 2025, providing a favorable environment for biopreservation market expansion. Recent Developments.

Recent developments

• In January 2024, Thermo Fisher Scientific launched a new line of ultra-low temperature freezers designed to offer enhanced storage capabilities for biological samples, including those used in regenerative medicine and cell-based therapies.
• In March 2024, Becton Dickinson & Company (BD) introduced a new biopreservation media designed to improve the viability and long-term storage of stem cells. This breakthrough is expected to accelerate the development of personalized medicine and biobanking applications.

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Table of Contents – Major Key Points

1. Introduction

2. Executive Summary

3. Research Methodology

4. Market Dynamics Impact Analysis

5. Statistical Insights and Trends Reporting

6. Competitive Landscape

7. Biopreservation Market Segmentation, by Product

8. Biopreservation Market Segmentation, by Application

9. Regional Analysis

10. Company Profiles

11. Use Cases and Best Practices

12. Conclusion

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