Biopreservation Market

The global Biopreservation Market is valued at USD 3 Billion in 2022 and is projected to reach a value of USD 23.3 Billion by 2030 at a CAGR (Compound Annual Growth Rate) of 29.1% between 2023 and 2030.

Premium Insights

Biopreservation plays a pivotal role in safeguarding biological samples, ensuring their continued availability for research and experimentation. A publication in the Stem Cells Translational Medicine Journal highlighted that as a result of the pandemic, the USFDA granted Emergency Use Authorization (EUA) for three mRNA vaccines—Pfizer-BioNTech's in December 2020, Moderna's in December 2020, and Janssen's in February 2022. The specific shipping and storage requisites for these vaccines, ranging from ultra-cold to refrigerated conditions, underscored the need for advanced bioprocessing methods. Consequently, the growing emphasis on research and development initiatives is propelling the demand for highly effective Biopreservation techniques, thereby fostering substantial expansion within the market.

• The swift advancement of cell and gene therapies has heightened the call for Biopreservation technologies. As an illustration, Ori Biotech introduced a cell and gene therapy platform in January 2022, after acquiring more than USD 100 million through Series B funding.
• The North American region generated more than 46.2% of revenue share in 2022.
• The Asia Pacific region is expected to grow quickly from 2023 to 2030.
• The Equipment segment accounted for the most significant market growth and contributed over 71.6% of the total revenue share in 2022.
• The Bio-Banking segment revealed the most important market growth, contributing more than 68.4% of the total revenue share in 2022.

Top Market Trends

• Growing biobanking applications: Biobanks preserve biological materials for research and clinical purposes. The market for Biopreservation is expanding due to biobanks' development and the growing desire for customized medicine and genomic breakthroughs.
• Advancements in regenerative medicine: Regenerative medicine involves using living cells, tissues, and biomaterials to repair or replace damaged tissues in the body. Proper preservation of these materials is crucial for successful transplantation. Biopreservation technologies are evolving to meet the specific requirements of regenerative medicine, driving the market's growth.
• Rise in stem cell banking: Stem cells have significant therapeutic potential, leading to the establishing of stem cell banks. These banks require efficient Biopreservation techniques to maintain the viability and functionality of stem cells. The rising incidence of degenerative diseases and the potential therapeutic value of stem cells fuel the development of stem cell banking, expanding the Biopreservation market.
• Increasing demand for personalized medicine: According to each patient's biological profile, personalized medicine seeks to customize their medical care. This approach requires the preservation of biological materials for genetic testing and analysis. The growing popularity and adoption of personalized medicine fuel the demand for Biopreservation techniques and technologies.
• Technological advancements in Biopreservation: The Biopreservation market is witnessing continuous technological advances to improve preservation techniques and increase the shelf life of biological materials. Innovations include the development of cryopreservation methods, storage media, Biopreservation equipment, and automated systems. These advancements are expected to enhance the efficiency and viability of preserved biological materials.
• Growing investment in research and development: The Biopreservation market attracts significant investment in research and development activities. Various government and private organizations fund research programs to develop advanced Biopreservation methods. This investment is expected to drive further growth and innovation in the market.
• Increasing adoption of cell-based therapies: Cell-based therapies, such as CAR-T cell therapy, are emerging as promising treatments for various diseases, including cancer. These therapies require the preservation of cells for transportation, storage, and infusion. The rising adoption of cell-based therapies is expected to drive the demand for Biopreservation techniques, boosting market growth.

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Economic Insights

Economic changes, such as increased healthcare expenditure and investments in life sciences, influence the Biopreservation market. The entire worldwide supply chain, from sample collection and processing to storage and delivery, is also significantly impacted. Furthermore, Biopreservation contributes to medical research, personalized medicine, and global health initiatives, making it an essential component of the world's healthcare infrastructure. In addition, rapid advancements in Biopreservation technologies, such as cryopreservation and freeze-drying, have fueled the growth of this market. Economic changes that support research and development in this field further accelerate the adoption of innovative Biopreservation techniques.

Market Segmentation

The Global Biopreservation Market is bifurcated by segmentation mentioned below:

The global Biopreservation market can be categorized into Products, Application, Region. The Biopreservation market can be categorized into Equipment, Media, Laboratory Information Management System (LIMS) based on Products. The Biopreservation market can be categorized into Regenerative Medicine, Regenerative Medicine, Bio-banking, Drug Discovery based on Application. The Biopreservation market can be categorized into North America, Europe, Asia Pacific, Latin America, Middle East and Africa based on Region.

Based on Product

The Equipmentholds the largest share in the Projected Period

The equipment segment in the Biopreservation market has experienced significant growth in recent years. Numerous factors can be credited for this increase, including the rising demand for Biopreservation methods across various industries, including pharmaceuticals, biotechnology, and healthcare. Biopreservation is preserving biological samples, cells, tissues, and organs at low temperatures to maintain structural integrity, viability, and functionality. This preservation is crucial for various applications, such as research, drug discovery, stem cell therapy, and regenerative medicine.

Based on Application

Bio-banking Led the market in the Projected Period

The Bio-Banking segment in the Biopreservation market has witnessed significant growth in 2022. Bio-banking refers to collecting, processing, storing, and distributing biological specimens, such as tissues, blood, organs, and cells, for various purposes, including research, clinical trials, and personalized medicine. In addition, the number of people with chronic illnesses is rising, and more expenditures are being made on healthcare infrastructure, which has helped the bio-banking market expand. Biological samples must be stored and preserved for an extended period for research and the development of new therapies for chronic illnesses, such as cancer, cardiovascular diseases, and neurological disorders. As a result, healthcare organizations and research institutions are establishing bio-banks to store these valuable specimens.

Based on Region

North America will Lead the Market in the Projected Period

North America accounted for the potential growth of the market in 2022. The North American market is predominantly propelled by the escalating need for preserving blood solid tissue specimens, including paraffin-embedded or frozen bio-specimens of tumors and various other tissues in numerous research institutions, pathology centers, and medical facilities. The upsurge in government investments in drug discovery is predicted to amplify the role of Biopreservation in safeguarding ex-vivo cells, tissues, and organs for storage, shipping, and transportation purposes. For instance, the Canadian government has given the Stem Cell Network USD 45 million over the next three years to encourage stem cell and regenerative medicine research. These investments are poised to enhance the relevance and demand for Biopreservation within the region, consequently fostering market growth throughout the projected timeframe.

Competitive Landscape

Prominent participants in the market are strategically pursuing avenues such as funding mechanisms to facilitate geographical expansion, forging partnerships, and executing mergers and acquisitions in pivotal regions. An illustrative example is the collaboration between Hamad Medical Corporation and Qatar BioBank, who, in January 2023, introduced a novel tissue biobank service within Qatar. This initiative aims to offer researchers access to top-tier tissue samples, emphasizing the commitment to advancing scientific exploration through enhanced resource availability.

The players in the global Biopreservation market include 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.) among others.

Recent Market Developments

• In June 2023, BioLife Solutions, Inc. 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.
• In January 2023, Thermo Fisher Scientific Inc. 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.
• In June 2023, PHC Holdings Corporation officially stated that it purchased the final 30% of 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.

Segmentation of the Global Biopreservation Market