The Biopreservation Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Biopreservation Global Market Report 2024, The biopreservation market market size has grown rapidly in recent years. It will grow from $5.36 billion in 2023 to $5.98 billion in 2024 at a compound annual growth rate (CAGR) of 11.7%. The growth in the historic period can be attributed to biobanking expansion, rise in stem cell research, growing organ transplantation procedures, biopharmaceutical production, cell therapy advancements.
The biopreservation market market size is expected to see rapid growth in the next few years. It will grow to $9.61 billion in 2028 at a compound annual growth rate (CAGR) of 12.6%. The growth in the forecast period can be attributed to increasing demand for regenerative medicine, r&d in personalized medicine, cryopreservation applications, global biopharmaceutical supply chain, emerging biobanking initiatives.. Major trends in the forecast period include growing application in stem cell banking, focus on advanced preservation solutions, expansion in drug discovery and development, introduction of portable biopreservation devices, growing importance in organ transplantation.
Increasing demand for personalized medicine is significantly contributing to the growth of the biopreservation market. Personalized medicine is used to treat patients with diseases specific to them. Personalized medicines are developed with the help of biobanks, which preserve human tissues and cells using biopreservation. For instance, in September 2021, the Swedish Government invested SEK 220 million ($1.87 million) in the Swedish national infrastructure of Genomic Medicine Sweden (GMS) to make it easier to keep integrating precision medicine into Swedish healthcare. It ensures that every person can access more accurate tests and individualized care. Such investments are taking place due to a rise in demand for personalized medicines. Thus, the increasing demand for personalized medicine is expected to propel the biopreservation market growth going forward.
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The biopreservation market market covered in this report is segmented –
1) By Type: Biopreservation Equipment, Biopreservation Media
2) By Biospecimen: Human Tissue Samples, Organs, Stem Cells, Other Biospecimens
3) By Application: Therapeutic Applications, Research Applications, Clinical Trials, Other Applications
4) By End User: Biobanks, Gene Banks, Hospitals, Other End Users
Technological innovation is a key trend in the biopreservation market. Major players are adopting new technologies such as next-generation cryopreservation solutions, integration and design with nanoscale technology, and standardization of hypothermic storage for preserving complex tissues and organs over time. Cryopreservation is the process of safeguarding material at an extremely low temperature (196 °C) either very quickly, as in the case of seed storage, or gradually, with simultaneous dehydration, as in tissue culture. For instance, in September 2021, AMSBIO, a US-based provider of quality life science research reagents and services, launched a next-generation cryopreservation product, STEM-CELLBANKER EX. STEM-CELLBANKER EX is a cryopreservation media solution that eliminates the requirement for the customary washing procedures necessary for the creation of cell therapy products. It has demonstrated remarkable post-thaw cell viability and recovery.
The biopreservation market report table of contents includes:
1. Executive Summary
2. Biopreservation Market Characteristics
3. Biopreservation Market Trends And Strategies
4. Biopreservation Market – Macro Economic Scenario
5. Global Biopreservation Market Size and Growth
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26. South America Biopreservation Market
27. Brazil Biopreservation Market
28. Middle East Biopreservation Market
29. Africa Biopreservation Market
30. Biopreservation Market Competitive Landscape And Company Profiles
Top Major Players:
- Thermo Fisher Scientific Inc
- BioLife Solutions Inc
- VWR International LLC
- Exact Sciences Corporation
- BioCision LLC
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