Biopreservation Market Global Market Report 2024

The biopreservation market market has grown rapidly in recent years. It will grow from $5.36 billion in 2023 to $5.98 billion in 2024 at a compound annual growth rate (CAGR) of 11.7%. The growth observed during the historic period can be credited to several factors, including the expansion of biobanking initiatives, increased focus on stem cell research, the rise in organ transplantation procedures, advancements in biopharmaceutical production, and the progress made in the field of cell therapy. These elements collectively contributed to the growth and advancement within the respective areas of biobanking, regenerative medicine, and biopharmaceutical development.

The biopreservation market market is expected to see rapid growth in the next few years. It will grow to $9.61 billion in 2028 at a compound annual growth rate (CAGR) of 12.6%. The anticipated growth in the forecasted period is expected to stem from several key factors, notably the escalating demand for regenerative medicine, increased research and development initiatives in personalized medicine, expanding applications of cryopreservation, the evolution of the global biopharmaceutical supply chain, and the emergence of new biobanking endeavors.

The surge in demand for personalized medicine is a significant driving force behind the expanding biopreservation market. Tailored to individual patients, personalized medicine relies on biobanks that store human tissues and cells through biopreservation. For example, in September 2021, the Swedish Government invested SEK 220 million ($1.87 million) in Genomic Medicine Sweden (GMS), enhancing precision medicine integration into Swedish healthcare. This move aims to provide more accurate tests and personalized care, aligning with the rising need for tailored medicines. Hence, the escalating demand for personalized medicine is poised to fuel the growth of the biopreservation market.

The anticipated rise in chronic diseases is expected to be a driving factor in the growth of the biopreservation market. Biopreservation, enabling the storage and upkeep of biological samples such as cells and tissues, plays a crucial role in understanding, diagnosing, and treating chronic illnesses. As per the National Center for Biotechnology Information (NCBI) in January 2023, the projected increase in people aged 50 and above with at least one chronic illness by 2050 is estimated at 99.5%, from 71.522 million in 2020 to 142.66 million. Consequently, the surging prevalence of chronic diseases is propelling the expansion of the biopreservation market.

Technological advancements stand as a key trend shaping the biopreservation market. Major industry players are embracing innovative technologies such as next-generation cryopreservation solutions, nanoscale technology in design and integration, and standardized hypothermic storage for preserving complex tissues and organs. Cryopreservation, safeguarding materials at extremely low temperatures, has witnessed advancements such as STEM-CELLBANKER EX by AMSBIO, launched in September 2021. This next-gen cryopreservation solution eliminates customary washing procedures for creating cell therapy products and exhibits exceptional post-thaw cell viability and recovery.

Major players in the biopreservation market are intensifying their focus on advanced dairy solutions such as Dairy Safe to gain a competitive edge. Dairy Safe, a comprehensive solution, aims to enhance safety and quality in the dairy industry, offering innovative pathogen control and preservation techniques. For instance, Koninklijke DSM N.V. introduced Dairy Safe in July 2021, revolutionizing cheese production by ensuring reliable outcomes, optimizing phage management, and preventing issues such as late blowing and spoilage, thus securing high-quality cheese production, including organic variants.

In May 2021, BioLife Solutions, a biotechnology company headquartered in the US, completed the acquisition of Stirling Ultracold for $35 million. This strategic acquisition was geared towards enhancing BioLife's range of bioproduction tools and services. Stirling Ultracold, also based in the US, specializes in the manufacturing and distribution of environmentally sustainable ultra-low temperature (ULT) freezers. These freezers are crucial for the biopreservation of various temperature-sensitive materials, including biological samples and vaccines.

Major companies operating in the biopreservation market market report are Thermo Fisher Scientific Inc., BioLife Solutions Inc., VWR International LLC, Exact Sciences Corporation, BioCision LLC, Lifeline Scientific Inc., Biomatrica Inc., Custom Biogenic System Inc., QIAGEN NV, ThermoGenesis Holdings Inc., MVE Biological Solutions LLC, Taylor-Wharton America Inc., X-Therma Inc., Cesca Therapeutics Inc., Core Dynamics Ltd., The Merck Group, Azenta US Inc., Avantor Inc., Bio-Techne Corporation, Worthington Industries Inc., Chart Industries Inc., Cryoport Inc., LabVantage Solutions Inc., Brooks Automation Inc., BioVault Technical Ltd., Biomatik Corporation, Biostorage Technologies Inc., Arctiko A/S, Trane Technologies plc, Eppendorf AG, Panasonic Healthcare Co. Ltd., BioSpherix Ltd.

North America was the largest region in the biopreservation market share in 2023. The regions covered in the biopreservation market market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the biopreservation market market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The primary categories of biopreservation include biopreservation equipment and biopreservation media. Biopreservation equipment consists of instruments such as bio-based therapeutics, clinical biomarkers, cells, viruses, diagnostic biochips, and other tools utilized to preserve biospecimens. This preservation technique is applied across various biospecimens, including human tissue samples, organs, stem cells, among others. It finds applications in therapeutic use, research, clinical trials, and is commonly employed by biobanks, gene banks, hospitals, and similar entities.

The biopreservation market research report provides biopreservation market statistics, including biopreservation industry global market size, regional shares, competitors with a biopreservation market share, detailed biopreservation market segments, market trends and opportunities, and any further data you may need to thrive in the biopreservation industry. This biopreservation market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The biopreservation market includes revenues earned by entities by providing freezing services, cryogenic storage system services, thawing equipment, and sample refrigeration services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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