Biopreservation Market Size Is Anticipated To Attain Around $8.93 Billion By 2022: Grand View Research, Inc.

Grand View Research, Inc. – Market Research And Consulting.

According to a report by Grand View Research, Inc., global biopreservation market is anticipated to value USD 8.93 billion by 2022. Growing requirement for advanced preservation methods and constantly increasing healthcare expenditure is anticipated to propel demand for biopreservation.

Rising adoption of biopreservation technology by biotechnology and pharmaceutical firms for in-house storage of samples can fuel market growth. Increasing R&D investments by major companies and research communities can enhance product development capabilities. This, in turn can augment growth of market. Continual technological advancements including introduction of virtual bio-banks can drive market growth. Advancements can include change in formulation storage solutions, next generation cryopreservation solutions, and design and integration with nanoscale technologies. Such technological upgradations can led to long term preservation and banking of complex organs and tissues of high importance in regenerative medicine and organ transplantation. Rising preference for maintaining repositories for biological specimens, for application in organ transplantation and regenerative medicine can fuel growth. Supportive initiatives from governments across various nations to enhance preservation standards and bio-banking and practices can augment growth of market during the forecast period (2012 to 2022).   

The biopreservation market can be segregated on the basis of product, application, cell provider, and region. Based on product, the market can be categorized into equipment, media, and laboratory information management system (LIMS). In 2014, equipment segment dominated the market and accounted for 80% market share. High demand for bio-banks over recent past and its extensive usage in DNA, stem cell, and tissue research can augment growth of segment.

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Similarly, media segment is anticipated to exhibit steady growth in coming years as it is likely to be essential part of biopreservation process.

Based on application, the market can be classified into regenerative medicine, bio-banking, and drug discovery. In 2014, bio-banking segment dominated the market and accounted for 72% market share. Growing awareness among researchers with respect to benefits of stem cells preservation can fuel growth. In addition, rising number of sperm and egg banks coupled with adoption of assisted reproductive technology are expected to be major growth contributing factors. Around 60% of biopharmaceutical companies are likely to have collaborations with national bio-banks and tissue preservation centers at hospitals. This, in turn can fuel growth of market.

Based on cell provider, the market can be divided into CD34+, CD19+, MSC, iPSC, hESC, Tumor Cells, and others. In 2014, tumor cells segment dominated the market in terms of volume. Wide applications in diagnosis, treatment of various cancers, and research and development can fuel growth of segment. Tumor cells are expected to be promising biomarkers in various types of cancers such as breast, colon, and prostate carcinomas. Clinical utility of tumor cells can include epic sciences, cell research method, and maintrac.

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Similarly, iPSC segment is predicted to grow at rapid pace during the forecast period owing to consequence of high utility in restorative therapy. In addition, wide range of biomedical research is focused on cells and is likely to be associated with drug development and disease modelling, tissue repairs, and red blood cells. The segment can also benefit from rising investments in research and future applications.    

Regional segmentation includes North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. In 2014, North America dominated the market and accounted for 46% attributed to consistent drug developments as well as advent of therapies in field of biomedical research. Growing number of patient base requiring high-end treatment for chronic diseases are expected to be responsible for high demand for bioprescription products and services in the region. In addition, involvement of pharmaceutical companies in commercialization of advanced preservation equipment and their subsequent adoption in research community can fuel growth of market in the region.

In Asia Pacific, the market is estimated to witness growth during the forecast period attributed to consistent rise in number of patients suffering from chronic diseases. In addition, increasing investments from local governments in R&D are likely to broaden scope for adoption of bio-storage, thereby propelling demand across the region.   

Some of the leading companies offering biopreservation are Biomatrica; BioLife Solutions Inc.; BioCision; Atlanta Biologics Inc.; and Chart MVE Biomedical. Most companies are likely to invest in R&D activities to develop technologically advanced biopreservation products to enhance patient outcomes.

Grand View Research has segmented the global biopreservation market on the basis of product, application, cell provider, and region:

Biopreservation Product Outlook (Revenue, USD Million, 2012 – 2022)

• Equipment

  • Freezers

  • Refrigerators

  • Consumables

    • Vials

    • Straws

    • Microtiter Plates

    • Bags

  • Liquid Nitrogen

• Media

  • Pre-formulated

  • Home-brew

• Laboratory Information Management System (LIMS)

Biopreservation Application Outlook (Revenue, USD Million, 2012 – 2022)

• Regenerative Medicine

  • Cell Therapy

  • Gene Therapy

  • Others

• Bio-banking

  • Human Eggs

  • Human Sperm

  • Veterinary IVF

• Drug Discovery

Biopreservation Cell Provider Outlook (Volume, 000’ Units, 2012 – 2022)

• CD34+

• CD19+

• MSC

• iPSC

• hESC

• Tumor Cells

• Others

Biopreservation Regional Outlook (Revenue, USD Million, 2012 – 2022)

• North America

• Europe

• Asia Pacific

• Latin America

• Middle East & Africa

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About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

For more information: www.grandviewresearch.com

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