Global bio-preservation market is expected to witness a lucrative growth rate over the forecast period owing to expansion of both bio-preservation media market and the bio-preservation equipment market. The major reason contributing to this booming industry is the rising new drug developments and therapies in the biomedical research and the biomedical industry diagnostic segments, biotech, medical devices, and pharmaceuticals. The rise in the treatment of acute and chronic illnesses is leading a positive growth for this market. The common bio-preservation procedures include hypothermic storage, cryopreservation, and vitrification. Another driver which has led to high demand of this concept is the increase in the cell-banking system like umbilical cord blood-banking, adult stem banking, and umbilical cell-banking. The stem cell-banking, which is preserved by cryopreservation, has increased demand for this concept. The growing funding for stem cell-banking, increased research and study of stem cell, funding by the government, and advanced technologies, are anticipated to increase the demand for cryopreservation. Maximum children in the U.S. suffer from spinal muscular atrophy and this complication was cured by the stem cell-based drugs. Hypothermic storage used for storing organ before transplantation is also a contributing factor. The increase in demand for organ transplantation due to aging population, rising incidence rate of lifestyle diseases owing to consumption of alcohol, fast food centers, and smoking leading to organ failure, and the advances in the organ preservation solutions are projected to propel the bio-preservation market demand.
The bio-preservation market is categorized into product, application, and technology. Media including pre-formulated media and home-brew media, LIMS and equipment including refrigerators, Liquid Nitrogen (LN2) tanks, and consumables are the product segments of the bio-preservation market. The application segments of the market include drug discovery, regenerative medicine, and biobanking. The bio-preservation equipment held one of the largest shares in terms of revenue in 2014. This is due to the demand for biobanks, increased cost of preservation for the biotechnology, and pharmaceutical products. The equipment demand is expected to witness a lucrative growth in the future due to the need for increase in sample size, which will ultimately lead to the need for expansion of capacity. In accordance with the fastest growing market, the bio-preservative consumables segment is the fastest growing product segment of the market. However, increasing transnational activities and research is one of the major drivers for growing demand in the media solutions. The home-brew industry had the largest share in the bio-preservative media market. In consideration with the equipment market, freezers had the maximum demand followed by cryopreservation reagents. The organ preservation solution globally has been segmented into nine types including Hypothermosol, Celsior Solution, HBS Solution, Phosphate-buffered Sucrose Solution, TranSend, and siRNA Transplant Solution and others (Ross-Marshall Citrate Solutions, Viaspan, HetaFreeze, MaPersol and CryoStor, Perfadex, Custodiol HTK, Renograf, Lifor, and ET-Kyoto). Viaspan and Custodial both accounted for the highest share with Custodial being the fastest growing segment. The consumable market consists of cryogenic boxes, cryogenic tongs, cryo claws, cryo tongs, micro-pates, bags, cryo vials, and freezer racks.
The cryopreservation equipment has its presence in North America, where it has shown significant growth, followed by Asia Pacific. In terms of value, the U.S. led the market in 2014, however, in terms of future growth, India and China are expected to grow at a rapid pace in the near future due to the increasing research activities and biobanking projects. With respect to European market, the bio-preservative market has also shown its mark owing to the improving regulatory guidelines, developing infrastructure, and biobanking projects, which are more prevalent in the Eastern Europe.
Some players of the bio-preservation market are BioCision LLC, VWR International LLC, Biomatrica Inc., Thermo Fisher Scientific Inc., Panasonic Corporation, Labvantage Solutions Inc., BioLife Solutions Inc., and Qiagen. The market is technology-driven, wherein the competitors are involved in rigorous R&D to launch more effective and efficient products to capture a large part of the market revenue. For instance, in July 2009, BioCision LLC launched a new portable benchtop tool which helps in clinical research and diagnostics for temperature-sensitive biomedical. The U.S. Patent and Trademark Office (USPTO), has approved the patent Biomatrica, advancement in bio-preservation without the need of cryopreservation. Biomatrica has come up with biostable and dissolvable matrices, which eliminates the need for cryopreservation. Recently, Thermo Fischer came up with new technologies, which include Thermo Scientific HyPerforma Single-Use Fermentor (S.U.F), the pioneer for single-use system microbial fermentation and Gibco Efficient A+, B+, C+ supplements, which provides cell culture optimization by feeding supplements three times more as compared to traditional feeding.
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