The global biopreservation market size was valued at USD 1.62 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 28.9% from 2022 to 2030. Biopreservation is witnessing growth due to the factors such as 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 are the primary factors for demand growth. For instance, in April 2021, BioLife Solutions launched a new high-capacity controlled freezer to cater to the cell and gene therapy market. This helped the company in expanding its existing product portfolio.
The market witnessed 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 has 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 is the process that maintains the integrity and functionality of biological products such as stem cells, DNA, tissues, and organs under different temperatures to prolong their life without their natural environment. Technology innovations include microarrays or the 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 biopreservation ability to help understand disease progression and suggest suitable diagnostic and treatment measures to follow, specifically for cardiology, gynecology, and point-of-care applications.
In recent years, there has been an upsurge in demand for the 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. According to the Centers for Disease Control and Prevention (CDC), the leading cause of disease-related mortality in adults is the rising prevalence of cardiovascular disorders and cancer in the U.S.
Furthermore, the government and private sectors have shown interest and supported funding activities in research and development, which has led to immense market developments. In past years, the growing demand for preserving stem cells and developing biological medicines and products has gained investors’ focus on the field. This considerable healthcare spending is expected to grow in the market in the forecast period. However, the growing market for biopreservation is associated with the unavailability of skilled professionals and lacking stringent cyber securities. This is due to the high cost associated with training of labor and standardization of software. This can have an impact on overall market growth.
The equipment segment held the largest revenue share of over 75.0% in 2021 due to the rising demand for bio-banking to preserve stem cells, DNA, plasma, and tissue culture. The widespread acceptance and utilization of preservation have led to adequate storage capacity and low maintenance, which is expected to boost market growth.
The media segment is expected to expand at a lucrative CAGR of 30.6% from 2022 to 2030. The segment has the potential to grow as it is a crucial part of the biopreservation process. Media applications offer more features and details, which allow researchers to access and share research data and analyses, thereby improving their ability to research, diagnose, monitor, and treat health disorders, which are anticipated to drive the market in the forecast period.
Tumor cells held the largest revenue share of over 15.0% in 2021. This can be attributed to increasing diagnosis, research, and treatment activities that involve the development of cancer therapies. Tumor cells are utilized for biomarkers in various cancer studies such as prostate, colon, and breast carcinomas. The clinical utility of tumor cells has further supported the segment growth.
The iPSC segment is projected to grow rapidly in the forecast period owing to increasing use in restorative therapy because of its ability to propagate without any limit. It involves a wide range of biomedical research concentrated on cells, associated with disease modeling, drug discovery, organ synthesis, RBCs, and tissue repairs. Rising funding assistance further offers a lucrative opportunity for market growth.
The biobanking segment dominated the global market with a revenue share of over 70.0% in 2021. Rising awareness regarding stem cell preservation, increasing acceptance of sperm and egg banking, and utilization of assistant reproductive technology in animals are fueling the segment growth. Pharmaceutical companies have collaborations with reserve bio-banks and hospitals for tissue preservation.
The regenerative medicine segment is expected to expand at the highest CAGR of 30.3% in the forecast period owing to increasing demand for technologically advanced bio-storage techniques. In addition, the launch of specific preservation techniques is expected to propel the segment growth in the coming years.
North America held the largest revenue share of over 45.0% in 2021. This can be attributed to the advancement in biomedical research and the development of advanced therapies. Furthermore, the rising number of chronic disease incidences that require treatments creates demand for biopreservation in the region, which strengthens its market presence. Such activities are expected to contribute to the expansion of the biopreservation products available in the market, thus fueling growth. The U.S. is projected to observe significant growth in the forecast period 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 activities from the National Institutes of Health (NIH), whereas, the National Cancer Institute (NCI) contributes to managing such bio-banking programs. These biobanks support research and clinical trial programs in the U.S., thereby increasing the demand for biopreservation techniques. In Europe, Germany is expected to witness the fastest growth over the forecast period due to the rising funding support for techniques and services in bio-banking and increasing partnerships and collaborations following biopreservation techniques.
Key players in the market are opting for strategic initiatives such as geographical expansion, partnerships, and mergers and acquisitions to strengthen their market presence. For instance, in March 2022, Biolife Solutions announced its expansion plan in the USD 400 million bio storage service market. In January 2022, Biolife Solutions collaborated with Seattle Children’s to improve viral vector and cell and gene therapy manufacturing. Some prominent players in the global 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
Report Attribute |
Details |
Market size value in 2022 |
USD 2.18 billion |
Revenue forecast in 2030 |
USD 16.61 billion |
Growth rate |
CAGR of 28.9% from 2022 to 2030 |
Base year for estimation |
2021 |
Historical data |
2018 - 2020 |
Forecast period |
2022 - 2030 |
Quantitative units |
Revenue in USD million and CAGR from 2022 to 2030 |
Report coverage |
Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Segments covered |
Product, application, cell providers volume, region |
Regional scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
Country scope |
U.S.; Canada; Germany; U.K.; France; Spain; Italy; Japan; China; India; South Korea; Brazil; Mexico; South Africa; Saudi Arabia; UAE |
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 |
Customization scope |
Free report customization (equivalent up to 8 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope. |
Pricing and purchase options |
Avail of customized purchase options to meet your exact research needs. Explore purchase options |
This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2018 to 2030. For the purpose of this report, Grand View Research has segmented the global biopreservation market report on the basis of product, application, cell providers volume, and region:
Product Outlook (Revenue, USD Million, 2018 - 2030)
Equipment
Freezers
Refrigerators
Consumables
Vials
Straws
Microtiter Plates
Bags
Liquid Nitrogen
Media
Pre-formulated
Home-brew
Laboratory Information Management System (LIMS)
Application Outlook (Revenue, USD Million, 2018 - 2030)
Regenerative Medicine
Cell Therapy
Gene Therapy
Others
Bio-banking
Human Eggs
Human Sperms
Veterinary IVF
Drug Discovery
Cell Providers Volume Outlook (Revenue, USD Million, 2018 - 2030)
CD34+
CD19+
MSC
iPSC
hESC
Tumor Cells
Others
Regional Outlook (Revenue, USD Million, 2018 - 2030)
North America
U.S.
Canada
Europe
Germany
U.K.
France
Italy
Spain
Asia Pacific
China
Japan
India
South Korea
Latin America
Brazil
Mexico
Middle East and Africa (MEA)
South Africa
Saudi Arabia
UAE
b. The global biopreservation market size was estimated at USD 1.62 billion in 2021 and is expected to reach USD 2.18 billion in 2022.
b. The global biopreservation market is expected to grow at a compound annual growth rate of 28.9% from 2022 to 2030 to reach USD 16.61 billion by 2030.
b. North America dominated the biopreservation market with a share of 45.25% in 2021. This is attributable to consistent drug developments and the advent of advanced therapies in the field of biomedical research.
b. Some key players operating in the biopreservation market include BioLife Solutions Inc.; BioCision; Biomatrica; Chart MVE Biomedical; LabVantage Solutions, Inc.; Atlanta Biologics Inc.; Taylor-Wharton Cryogenics LLC; Panasonic Corporation; Thermo Fisher Scientific, Inc.; Qiagen N.V.; VWR International, LLC; and BIOGENICS.
b. Key factors that are driving the market growth include growing healthcare expenditure, the presence of government healthcare initiatives that provide funds, grants, and contracts for research, technological advancements in biopreservation processes, and increasing R&D investments by companies and research communities to enhance their capabilities and render efficient products and services.
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Biopharmaceutical innovators are at the forefront of the human response to the coronavirus pandemic. A significant number of major biotech firms are in the midst of a race to investigate the Sars-Cov-2 genome and prepare a viable vaccine for the same. As compared to the speed of response to SARS/MERs etc, the biotech entities are investigating SARs-Cov-2 at an unprecedented rate and a considerable amount of funds are being put into the R&D. With multiple candidates in trial, the public and private sectors are anticipated to work in unison for the foreseeable period, until a vaccine is developed for Covid-19. The report will account for Covid19 as a key market contributor.
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