Biopreservation Market Size, Share & Trends Analysis Report By Product (Equipment, Media, LIMS), By Application (Regenerative Medicine, Bio-banking, Drug Discovery), By Region, And Segment Forecasts, 2023 - 2032

The global biopreservation market size was exhibited at USD 2.19 billion in 2022 and is projected to hit around USD 26.49 billion by 2032, growing at a CAGR of 28.31% during the forecast period 2023 to 2032. Biopreservation is experiencing growth due to various factors such as extensive usage in hospitals and labs, rising funding assistance from government and private partners in healthcare, an upsurge in research & development, and growing advancement in terms of product development. For example, in April 2021, BioLife Solutions launched a new high-capacity controlled freezer to cater to the cell and gene therapy market, which helped the company expand its existing product portfolio. The market experienced a major hindrance during the COVID-19 pandemic with supply chain issues, unavailability of raw materials, and hindrances in research activities among other reasons. However, the pandemic also accelerated the growth of novel biologics, and vaccine technologies. Due to these factors, opportunities for biologics manufacturing and preservation are anticipated to increase, thus generating further demand for biopreservation.

Biopreservation Market Size 2023 To 2032

Key Takeaways:

  • The equipment segment held the highest market share of 78.75% in 2022
  • The biobanking segment dominated the global market with a share of 70.65% in 2022. 
  • North America was the largest revenue-generating region in the biopreservation market in 2022 and held a share of 45.00%.

Biopreservation Market Report Scope

 Report Coverage  Details
Market Size in 2023 USD 2.19 Billion
Market Size by 2032 USD 26.49 Billion
Growth Rate From 2023 to 2032 CAGR of 28.31%
Base Year 2022
Forecast Period 2023-2032
Segments Covered Product, Application, Region
Market Analysis (Terms Used) Value (US$ Million/Billion) or (Volume/Units)
Regional Scope North America; Europe; Asia Pacific; Central and South America; the Middle East and Africa
Key Companies Profiled Azenta US, Inc.; Biomatrica, Inc.; BioLife Solutions; MVE Biological Solutions; LabVantage Solutions, Inc.; Taylor-Wharton; Thermo Fisher Scientific, Inc.; Panasonic Corporation; X-Therma Inc.; PrincetonCryo.; Stirling Ultracold

 

Biopreservation is a process that helps maintain the integrity and functionality of biological products such as stem cells, DNA, tissues, and organs under different temperatures, thereby prolonging their lifespan outside their natural environment. Technology innovations include microarrays or incorporation of a wide range of predictive models, such as hybrid models, and various API algorithms which help reduce the time, cost and complexity of the overall process. Furthermore, the advent of multiplex cellular imaging platforms is anticipated to enhance the biopreservation ability to help understand disease progression and suggest suitable diagnostic & treatment measures to follow, specifically for cardiology, gynecology, and point-of-care applications.

In recent years, there has been an upsurge in demand for use of biopreservation to develop biological products in R&D of various sectors such as immunotherapies, vaccine production, antibody production, enzyme technology, and biologically produced chemicals. This impact is due to the rising number of chronic disease incidences globally. For instance, according to the Centers for Disease Control and Prevention, cardiovascular disorders and cancer are among the leading causes of disease-related mortality in adults in the U.S. 

Furthermore, the government and private sectors have shown interest and supported funding activities in research & development, leading to immense market developments. In recent years, the growing demand for preserving stem cells and developing biological medicines and products has gained investors' focus in this field. This considerable healthcare spending is expected to fuel market growth during the forecast period.

However, the growing biopreservation market is associated with challenges such as the unavailability of skilled professionals and the lack of stringent cybersecurity measures. The high cost of labor training and software standardization are some of the contributing factors. These challenges could potentially impact overall market growth.

Product Insights

The equipment segment held the highest market share of 78.75% in 2022 due to rising demand for bio-banking to preserve stem cells, DNA, plasma and tissue culture. The widespread acceptance and utilization of preservation have benefited adequate storage capacity and low maintenance is expected to boost the market.

The media segment has the potential to grow as it is a crucial part of the biopreservation process. The segment is expected to grow at a CAGR of 29.99% from 2023 to 2032. Media applications offer more features and details, allowing researchers to access and share research data and analyses, thereby improving their ability to research, diagnose, monitor, and treat health disorders. This trend is anticipated to drive market growth during the forecast period.

Application Insights

The biobanking segment dominated the global market with a share of 70.65% in 2022. Rising awareness for stem cell preservation, increasing acceptance of sperm and egg banking, and utilizing assistant reproductive technology with animals. Pharmaceutical companies have collaborations with reserve bio-banks and tissue preservation with hospitals.

Regenerative medicine segment is expected to grow at a higher CAGR of 29.68% in the given forecast period owing to increasing demand for technologically advanced bio-storage techniques. In addition, launch of specific preservation techniques is expected to propel the segment growth in coming years.

Regional Insights

North America was the largest revenue-generating region in the biopreservation market in 2022 and held a share of 45.00%. This can be attributed to the presence of advancement in biomedical research and the development of advanced therapies. Furthermore, the rising number of chronic incidences that require treatments creates demand for biopreservation in the region which strengthens its market presence. Such activities are expected to contribute toward expanding the biopreservation product available in the market and drive growth.

The U.S has been projected to have significant growth in the biopreservation market owing to government organizations and various bio-banking institutes that contribute to the penetration of biopreservation techniques. For instance, the biospecimen collection in biorepositories and biobanks is supported by funding actives from the National Institutes of Health (NIH) whereas, National Cancer Institute (NCI) contributes to managing such bio-banking programs. These biobanks support research and clinical trial programs in the country thereby increasing the demand for biopreservation techniques.

Asia Pacific is expected to be the fastest-growing region with a CAGR of 30.47% due to the rising funding support for techniques and services in bio-banking, and increasing partnerships and collaborations following biopreservation techniques.

Some of the prominent players in the Biopreservation Market include:

  • Azenta US, Inc.
  • Biomatrica, Inc.
  • BioLife Solutions
  • MVE Biological Solutions
  • LabVantage Solutions, Inc.
  • Taylor-Wharton.
  • Thermo Fisher Scientific, Inc.
  • Panasonic Corporation
  • X-Therma Inc.
  • PrincetonCryo.
  • Stirling Ultracold 

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2020 to 2032. For this study, Nova one advisor, Inc. has segmented the global Biopreservation market.

Product

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

Application

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

By Region

  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East & Africa (MEA)

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