The global biopreservation market size was estimated to be USD 3.25 billion in 2023 and is expected to reach at USD 53.0 billion by 2033 with a CAGR of 28.89% during the forecast period 2023-2033. Rising usage in hospitals, increasing investment from government & private vendors, growing research & development activities, surge in product development, rising healthcare expenditure, increasing adoption of in-house sample storage in hospitals & labs, escalating technological advancements, and increasing release of technologically advanced products are some of the key factors fuelling the market growth.
Increasing release of technologically advanced products is predicted to boost the market growth during the forecast period. For instance, in June 2023, BioLife Solutions, Inc. has introduced a new controlled-rate freezer (CRF) with a larger capacity, further expanding its existing CRF product line that now offers three different sizes. The newly launched IntelliRate i67C tabletop freezer addresses the important demand from customers for increased volume production of cell therapies.
By Products, Equipment was the highest revenue-grossing segment in the global biopreservation market in 2022 owing to increasing demand for bio-banking to preserve stem cells, DNA, plasma, & tissue culture, growing preservation use has benefited from enough storage space & minimal maintenance, surge in technological advancements, and rising launch of innovative products. For instance, in February 2022, Guy's and St Thomas' in the UK have introduced a fertility preservation service specifically for women undergoing cancer treatment, offering ovarian tissue cryopreservation as a means of preserving their fertility. Additionally, media is predicted to grow at fastest CAGR during the forecast period owing to the increasing prevalence of health disorders and rising research & development activities.
By Application, Biobanking was the highest revenue-grossing segment in the global biopreservation market in 2022 owing to increasing awareness for stem cell preservation, rising acceptance of sperm & egg banking, growing utilization assistant reproductive technology with animals, and surge in collaborations within market players, reserve bio-banks & tissue preservation with hospitals. Additionally, Regenerative medicine is predicted to grow at fastest CAGR during the forecast period owing to rising demand for technologically advanced bio-storage techniques, increasing launch of specific preservation techniques, surging demand for regenerative medicine that employs biopreservation to treat life-threatening diseases such as cancer, growing research & development activities, and rising product approvals in regenerative medicines. For instance, in May 2022, The FDA has granted X-Therma Inc. Breakthrough Device classification for its TimeSeal Organ Transport Device and XT-ViVo Preservation Solution. The revolutionary technology utilizes the XT-ViVo solution, an innovative organ preservation solution designed for perfusing and flushing a donor's kidney before or after removal from the donor's body.
By End User, Hospitals was the highest revenue-grossing segment in the global biopreservation market in 2022 owing to growing healthcare infrastructure and increasing adoption of in-house sample storage in hospitals & labs. Additionally, Biobanks is predicted to grow at fastest CAGR during the forecast period owing to the increasing technological advancements and rising initiatives by major market players. For instance, in January 2023, Qatar's Hamad Medical Corporation and Qatar BioBank have collaborated to establish a tissue biobank service in Qatar. The purpose of this service is to offer researchers access to exceptional quality tissue samples for their studies.
North America region is anticipated for the highest revenue share during the forecast period owing to the increasing technological advancements, rising research & clinical trial programs, surge in number of chronic diseases, growing demand for biopreservation techniques within the region, increasing investment by government & private vendors, and rising launch of innovative products. For instance, in February 2022, The CryoStore FLEX Freezing Bag was made available in both the US and Europe by OriGen Biomedical Inc. This innovative bag is specifically designed for the cryopreservation of blood components and provides the convenience of multiple chambers, allowing for flexible storage of small-volume dose solutions. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the rising funding support by key market players, increasing development of technologically advanced products, surge in healthcare infrastructure & expenditure, and growing launch of cryopreservation banks. For instance, in July 2022, Chennai, India, witnessed the inauguration of Cellutions BioStorage, a Cryopreservation Bank catering to research-to-launch requirements. Cellutions BioStorage offers comprehensive biomaterial storage and logistics services, serving as a trusted partner for biopharmaceutical companies seeking to outsource supply chain management for their products at every stage of their lifecycle.
Increasing release of technologically advanced products is predicted to boost the market growth during the forecast period. For instance, in June 2023, BioLife Solutions, Inc. has introduced a new controlled-rate freezer (CRF) with a larger capacity, further expanding its existing CRF product line that now offers three different sizes. The newly launched IntelliRate i67C tabletop freezer addresses the important demand from customers for increased volume production of cell therapies.
By Products, Equipment was the highest revenue-grossing segment in the global biopreservation market in 2022 owing to increasing demand for bio-banking to preserve stem cells, DNA, plasma, & tissue culture, growing preservation use has benefited from enough storage space & minimal maintenance, surge in technological advancements, and rising launch of innovative products. For instance, in February 2022, Guy's and St Thomas' in the UK have introduced a fertility preservation service specifically for women undergoing cancer treatment, offering ovarian tissue cryopreservation as a means of preserving their fertility. Additionally, media is predicted to grow at fastest CAGR during the forecast period owing to the increasing prevalence of health disorders and rising research & development activities.
By Application, Biobanking was the highest revenue-grossing segment in the global biopreservation market in 2022 owing to increasing awareness for stem cell preservation, rising acceptance of sperm & egg banking, growing utilization assistant reproductive technology with animals, and surge in collaborations within market players, reserve bio-banks & tissue preservation with hospitals. Additionally, Regenerative medicine is predicted to grow at fastest CAGR during the forecast period owing to rising demand for technologically advanced bio-storage techniques, increasing launch of specific preservation techniques, surging demand for regenerative medicine that employs biopreservation to treat life-threatening diseases such as cancer, growing research & development activities, and rising product approvals in regenerative medicines. For instance, in May 2022, The FDA has granted X-Therma Inc. Breakthrough Device classification for its TimeSeal Organ Transport Device and XT-ViVo Preservation Solution. The revolutionary technology utilizes the XT-ViVo solution, an innovative organ preservation solution designed for perfusing and flushing a donor's kidney before or after removal from the donor's body.
By End User, Hospitals was the highest revenue-grossing segment in the global biopreservation market in 2022 owing to growing healthcare infrastructure and increasing adoption of in-house sample storage in hospitals & labs. Additionally, Biobanks is predicted to grow at fastest CAGR during the forecast period owing to the increasing technological advancements and rising initiatives by major market players. For instance, in January 2023, Qatar's Hamad Medical Corporation and Qatar BioBank have collaborated to establish a tissue biobank service in Qatar. The purpose of this service is to offer researchers access to exceptional quality tissue samples for their studies.
North America region is anticipated for the highest revenue share during the forecast period owing to the increasing technological advancements, rising research & clinical trial programs, surge in number of chronic diseases, growing demand for biopreservation techniques within the region, increasing investment by government & private vendors, and rising launch of innovative products. For instance, in February 2022, The CryoStore FLEX Freezing Bag was made available in both the US and Europe by OriGen Biomedical Inc. This innovative bag is specifically designed for the cryopreservation of blood components and provides the convenience of multiple chambers, allowing for flexible storage of small-volume dose solutions. Additionally, Asia Pacific region is predicted to grow at fastest CAGR during the forecast period owing to the rising funding support by key market players, increasing development of technologically advanced products, surge in healthcare infrastructure & expenditure, and growing launch of cryopreservation banks. For instance, in July 2022, Chennai, India, witnessed the inauguration of Cellutions BioStorage, a Cryopreservation Bank catering to research-to-launch requirements. Cellutions BioStorage offers comprehensive biomaterial storage and logistics services, serving as a trusted partner for biopharmaceutical companies seeking to outsource supply chain management for their products at every stage of their lifecycle.
Segmentation: Biopreservation Market Report 2022 - 2033
Biopreservation Market Analysis & Forecast by Product 2022 - 2033 (Revenue USD Bn)
- Laboratory Information Management System (LIMS)
Media
- Home-brew
- Pre-formulated
Equipment
- Liquid Nitrogen
- Refrigerators
- Freezers
- Consumables
- Bags
- Straws
- Vials
- Microtiter Plates
Biopreservation Market Analysis & Forecast by Application 2022 - 2033 (Revenue USD Bn)
- Drug Discovery
Bio-banking
- Human Eggs
- Veterinary IVF
- Human Sperms
Regenerative Medicine
- Gene Therapy
- Cell Therapy
- Others
Biopreservation Market Analysis & Forecast by End-user 2022 - 2033 (Revenue USD Bn)
- Biobanks
- Hospitals
- Others
Biopreservation Market Analysis & Forecast by Region 2022 - 2033 (Revenue USD Bn)
North America
- U.S.
- Canada
Europe
- Germany
- France
- UK
- Spain
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of APAC
Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
Middle East & Africa
- South Africa
- GCC
- Rest of MEA
Table of Contents
1. Research Methodology
2. Introduction
4. Market Environment Analysis
5. Market Dynamics
7. Biopreservation Market: Product Estimates & Trend Analysis
8. Biopreservation Market: Application Estimates & Trend Analysis
9. Biopreservation Market: End-user Estimates & Trend Analysis
10. Regional Market Analysis
11. North America Biopreservation Market
12. Europe Global Biopreservation Market
13. Asia Pacific Global Biopreservation Market
14. Latin America Global Biopreservation Market
15. MEA Global Biopreservation Market
16. Competitor Analysis
17. Company Profiles
Companies Mentioned
- LabVantage Solutions Inc.
- BioCision LLC
- Azenta US Inc.
- Panasonic Corporation
- BioLife Solutions
- Cesca Therapeutics Inc.
- Stirling Ultracold
- Custom Biogenic Systems Inc.
- Biomatrica Inc.
- Lifeline Scientific Inc.
- VWR International
- Merck KGaA
- Taylor-Wharton
- Princeton CryoTech Inc.
- Thermo Fisher Scientific Inc.
- X-Therma Inc.
- MVE Biological Solutions
- Core Dynamics Ltd
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 145 |
| Published | August 2023 |
| Forecast Period | 2022 - 2033 |
| Estimated Market Value ( USD | $ 3.25 Billion |
| Forecasted Market Value ( USD | $ 53 Billion |
| Compound Annual Growth Rate | 28.8% |
| Regions Covered | Global |
| No. of Companies Mentioned | 18 |
