James Smith
by on February 27, 2024
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IMARC Group's report titled "Biopreservation Market Report by Product Type (Biopreservation Equipment, Biopreservation Media), Application (Therapeutic Applications, Biobank Applications, Drug Discovery Applications), and Region 2024-2032". The global biopreservation market size reached US$ 7.7 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 19.3 Billion by 2032, exhibiting a growth rate (CAGR) of 10.4% during 2024-2032.

Factors Affecting the Growth of the Biopreservation Industry:

  • Technological advancements:

Technological advancements play a pivotal role in driving the growth of the biopreservation market. The advent of advanced biopreservation technologies, such as cryopreservation and vitrification enhancing the storage and transportation of biological samples is strengthening the market growth. Cryopreservation involves freezing biological samples at extremely low temperatures, effectively preserving their cellular structures and functionalities. Vitrification, on the other hand, involves the conversion of biological samples into a glass-like state without the formation of ice crystals, minimizing damage during preservation. These technologies have revolutionized the biopreservation industry, enabling long-term storage of a wide range of biological materials including cells, tissues, and organs, thereby driving the market growth.

  • Increasing demand for personalized medicine:

The rising demand for personalized medicine is another significant factor propelling the growth of the biopreservation market. Personalized medicine relies on the use of individual patient data to tailor medical treatments and interventions to specific genetic, environmental, and lifestyle factors. This approach requires the collection and storage of diverse biological samples for analysis and experimentation. Biopreservation plays a crucial role in this process by ensuring the integrity and viability of biological samples over extended periods. As personalized medicine continues to gain traction across various therapeutic areas, including oncology, neurology, and regenerative medicine, the demand for biopreservation solutions is expected to surge, bolstering the market growth.

  • Expanding biobanking sector:

Biobanks serve as repositories for storing and managing large collections of biological samples sourced from diverse populations. These samples are invaluable resources for biomedical research, drug discovery, and clinical trials. With the growing emphasis on precision medicine and translational research, the demand for well-characterized, high-quality biological specimens is escalating. Biobanks are investing in state-of-the-art biopreservation technologies to ensure the long-term viability and usability of stored samples. Moreover, the proliferation of collaborative initiatives and consortia aimed at sharing biological resources for research purposes is further driving the need for robust biopreservation solutions.

Leading Companies Operating in the Global Biopreservation Industry:

  • BioLife Solutions, Inc.
  • Thermo Fisher Scientific Inc.
  • VWR International, LLC
  • Panasonic Corporation
  • BioCision LLC

For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/biopreservation-market/requestsample

Biopreservation Market Report Segmentation:

By Product Type:

  • Biopreservation Equipment
  • Biopreservation Media

Biopreservation equipment represents the largest segment by product type due to the increasing demand for advanced storage and transportation solutions for biological samples.

By Application:

  • Therapeutic Applications
  • Biobank Applications
  • Drug Discovery Applications

Biobank applications account for the majority of the market share owing to the expanding need for well-characterized biological specimens in biomedical research and drug development.

Market Breakup by Region:

  • North America (United States, Canada)
  • Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
  • Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
  • Latin America (Brazil, Mexico, Others)
  • Middle East and Africa

Global Biopreservation Market Trends:

The growing emphasis on environmental sustainability and ethical considerations within the healthcare industry leading to a surge in demand for eco-friendly biopreservation technologies and practices is contributing to the market growth. Besides this, the flourishing expansion in the field of regenerative medicine and tissue engineering has heightened the demand for advanced preservation techniques to maintain the integrity and functionality of engineered tissues and organs for therapeutic applications, aiding in market expansion. Furthermore, the rise of decentralized clinical trials and remote patient monitoring spurring the need for efficient sample collection, transportation, and storage solutions is propelling the market forward.

Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARCs information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the companys expertise.

Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.

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