Global Biopreservation Market Size, Segmentation, Trends and Growth Analysis Forecast by 2031

Biopreservation Market Analysis and Size:   

The Biopreservation Market is currently valued at USD 5.8 billion in 2022 and is expected to register a CAGR of 7.5% over the forecast period 2022-2031.

Bio-preservation is a technique of extending the shelf life of food by using natural or controlled microbiota or antimicrobials. The fermentation products as well as beneficial bacteria are generally selected in this process to control spoilage and render pathogens inactive.

The Biopreservation Market is expected to register significant growth due to the extensive usage in hospitals and labs, rising funding assistance from government and private partners in healthcare, an upsurge in research and development, and growing advancement in terms of product development.

Biopreservation Market Latest Trends:

The increasing prevalence of cancer, diabetes, degenerative conditions, and neurological disorders is increasing the demand for biopreservation. Furthermore, this technique extends the shelf life of food by using natural or controlled microbiota or antimicrobials. The fermentation products as well as beneficial bacteria are generally selected in this process to control spoilage and render pathogens inactive.

Segmentation :

The Biopreservation Market is segmented

By Product :

• Biopreservation Media Equipment
• Temperature Maintaining Units
• Consumables
• Other

Application :

• Biobanking
• Regenerative Medicine
• Drug Discovery
• Other 

End User :

• Biobanks
• Hospitals
• Other

Geography :

• North America
• Europe
• Asia-Pacific
• Middle East
• Africa
• South America

The report offers the value (in USD million) for the above segments.

Driver Improving Healthcare Expenditure and Increasing R&D Expenditure

The pharmaceutical industry globally developing a wide variety of new drugs that provide valuable medical benefits. Many of those drugs are expensive and contribute to rising healthcare costs for the private sector and the federal government. For instance, an article published by the Congress Budget Office in April 2021, reported that average, pharmaceutical companies spent about one-quarter of their revenues (net of expenses and buyer rebates) on R&D expenses in 2019, which is almost twice as large a share of revenues as they spent in 2000. Thus, such instances show an increase in the number of drugs and other therapeutic products, as a result, the demand for biobanks may increase due to an increase in drug storage and thus the market is expected to witness growth over the forecast period.

Biopreservation Market Adoption of In-house Sample Storage in Hospitals and Labs

Furthermore, technological advancement is increasing product approvals, partnerships, and acquisitions by key players, which are helping in the market growth. For instance, in February 2022, Guy’s and St Thomas’, United Kingdom, launched a fertility preservation service for ovarian tissue cryopreservation for women undergoing cancer treatment. Growing technological advancements and launches in biopreservation, along with the cost-effectiveness of these instruments, are expected to create lucrative opportunities for the target market growth in the given timeframe

Restraints :

High Cost of the Instruments and its Maintenance and Possibility of Tissue Injury During Preservation

These sophisticated equipment and instruments are expensive and may slow down the growth of the studied market. For instance, an article titled, “Decarbonization in Biobanking: A Potential New Scientific Area” published in October 2022, reported that biobanking relates to the use of liquid nitrogen (LN2) LN2 is used widely both in industrial manufacturing and healthcare fields, and consumption has grown steadily over the last two decades, costing USD 30,000/year for large biobanks. Thus, the cost of preservation increases, thereby impeding the studied market growth. Moreover, possible tissue injury during biopreservation may slow down the studied market growth over the forecast period.

COVID-19 Impact on The bio-preservation Market

The bio-preservation market witnessed significant growth during the COVID-19 pandemic due to the benefits offered by them. For instance, an article published by the National Center for Biotechnology Information (NCBI) in October 2021, reported that biobanks had provided an opportunity through which insights can be gained into the diagnosis of diseases. They are also important for providing long-term storage of biological samples and biobank specimens could be used to conduct population-wide genetic sequencing research, which can identify severe acute respiratory syndrome coronavirus 2 mutation patterns among the population. Thus, such instances showed that the demand for biobanks significantly increased during the COVID-19 pandemic. In the current scenario, it is estimated that with the increasing use of biobanks and the launch of new products, the market is expected to witness significant growth over the forecast period. For instance, 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.

Segmental Analysis:

Biopreservation Media Segment is Expected to Witness Significant growth Over the Forecast Period

Biopreservation media is used to suppress the biochemical process of aging and preserve those physiological functions, which lend cells and tissue their scientific and therapeutic value. Some of the biopreservation media like T-Liven PR is a GMP-ready human platelet lysate for closed system bioprocessing with release against a T-Cell growth release assay for optimal immune cell quality. Thus, to benefits offered by these media solutions is driving the growth of this segment.

Drug Discovery Segment is Expected to Witness Significant Growth Over the Forecast Period

The biopharmaceutical industry has increasingly used tissue studies to improve success in drug discovery. Biopreservation plays an important role in for preservation of these tissues and thus segment is expected to witness significant growth over the forecast period.

Biobank Segment is Expected to Witness Significant Growth Over the Forecast Period.

A biobank is a type of biorepository that stores biological samples for use in research. Biobanks have become an important resource in medical research, supporting many types of contemporary research like genomics and personalized medicine. Furthermore, the launch of new biobanks is driving the growth of the studied segment. Furthermore, the launch of new biobanks is driving the growth of the studied segment. For instance, in May 2023, The Medicines and Healthcare Products Regulatory Agency (MHRA) aims to launch a pilot genetic biobank that will gather patient data to associate drug-related adverse events with their genetic makeup. The Yellow Card biobank will launch as a joint venture with the UK-government-funded entity Genomics England. Thus, such developments are driving the studied segment growth.

North America is Expected to Dominate the Biopreservation Market over the Forecast Period

The North American market is primarily driven by the rise in demand for the preservation of blood, solid tissue specimens, including paraffin-embedded or frozen bio-specimen of tumours, and other tissues (like peripheral blood cells, bone marrow, and stem cells-derived cord blood and its derivatives), across multiple research institutes, pathological centres, and hospitals. Additionally, advancements in technology, increasing product approvals, partnerships, and acquisitions by key players are helping in the market growth. For instance, in February 2022, OriGen Biomedical Inc., a global medical device manufacturer of cryopreservation, cell culture, and respiratory products, launched CryoStore FLEX Freezing Bag in the United States and Europe. The CryoStore FLEX Bag is designed for the cryopreservation of blood components and offers the multi-chamber flexibility of small-volume dose solutions.

The bio-preservation Market Competitive Landscape

The biopreservation market is slightly fragmented due to the presence of a few companies operating globally and regionally. The competitive landscape includes an analysis of a few international and local companies that hold market shares and are well known. 

Key Players :

• BioCision LLC
• BioLife Solutions
• Cesca Therapeutics Inc.
• Core Dynamics Ltd
• Custom Biogenic Systems Inc.
• Lifeline Scientific Inc.
• Merck KGaA
• Princeton CryoTech Inc
• Azenta US Inc  
• Thermo Fisher Scientific Inc.
• MVE Biological Solutions
• VWR International
• Others.

Recent Development

• In December 2022: Saudi Arabia launched the National Biobank to Enhance the Public Health System. The purpose of this biobank is to enhance national health security, raise the efficiency of control programs, and control communicable and non-communicable diseases and will contribute effectively to supporting the research, development, and innovation agenda in the Kingdom.
• In April 2022: Monash University launched Australia’s first industry-focused storage facility for biological material to support medical research and commercialization opportunities. Biobanking Victoria is a state-of-the-art facility that provides a valuable link between researchers and industry, generously supported by the Victorian Government.

Frequently Asked Questions (FAQ) :

Q1. What is the market size of the Biopreservation Market ?

Q2. What segments are covered in the Biopreservation Market Report?

Q3. Which factor is Limiting the growth of Biopreservation Market ?

Q4. What are the latest Trends in the Biopreservation Market ?