Bio Preservation Market to Witness Robust Growth through 2025

Rising demand for advanced preservation methods and constantly increasing healthcare spending to drive the growth of global bio preservation market

According to TechSci Research report, “Global Bio Preservation Market By Product (Media, Equipment, Accessories, Alarms & Monitoring System, Incubators, Centrifuges, Other), By Biospecimen (Human Tissue Samples, Stem Cells, Organs, Others), By Cell Providers (CD34+, CD19+, MSC, iPSC, hESC, Tumor Cells), By Application (Therapeutic, Research, Clinical Trials, Others), By End User (Biobanks, Gene Banks, Hospitals, Others), By Region, Forecast & Opportunities, 2025”, global bio preservation market is expected to witness robust CAGR during the forecast period. Rising demand for advanced preservation methods is one of the major factors accounting for the growth of global bio preservation market. Moreover, growing preference for maintaining repositories for biological specimens, for application in regenerative medicine and organ transplantation is expected to bode well for the growth of global bio preservation market through the forecast period. In addition to this, supportive government initiatives in order to enhance bio-banking and preservation standards and practices, is anticipated to positively influence the growth of global bio preservation market in the years to come. Also, this technique primarily increases stability, purity and shelf life of bio specimens, which is making headway for the growth of global bio preservation market across the globe. Along with this, majority of pharmaceutical companies, hospitals and biotechnology firms are progressively accepting these systems for the in-house storage of the samples, thereby positively contributing to the market growth. However, there are some factors such as rising healthcare costs, among others, that might act as major impediment to the growth of global bio preservation market through 2025.

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Global bio preservation market can be segmented based on product, biospecimens, cell providers, application, end user, company, and region. Considering the cell providers, the market is fragmented into CD34+, CD19+, MSC, iPSC, hESC and tumor cells. The tumor cells segment dominated the global bio preservation market in terms of largest market share until 2019 and is further anticipated to hold its dominance during the forecast years as well, which can be accredited to rising preference for tumor cells for treatment of various types of cancers such as colon, breast and prostate cancer. Moreover, utilization of tumor cells for identification of rare cells in body fluid will increase its need for validation of chemotherapy as well as early diagnosis of cancer recurrence, which is anticipated to foster the growth of segment over the next five years. Also, the MSC segment is further expected to register high growth in the years to come. This high growth is attributable to surging use of mesenchymal stem/stromal cells in various research studies and clinical trials. Furthermore, capability of the multipotent mesenchymal stem cells to differentiate into multiple cell types like cartilage cells, bone cells, muscle cells and adipocytes, is resulting in their high adoption, thereby augmenting the demand for the segment.

Thermo Fisher Scientific, Inc., Sigma-Aldrich Corporation, VWR Corporation, Biolife Solutions, Inc., Lifeline Scientific, Inc., Cesca Therapeutics, Inc., BioCision, LLC, Core Dynamics, Ltd., Custom Biogenic Systems, Inc., So-Low Environmental Equipment Co., Inc., Princeton Cryotech, Inc., Chart MVE Biomedical, LabVantage Solutions, Inc., Biomatrica. Inc., Taylor-Wharton Cryogenics LLC, are among others are the leading players operating in global bio preservation market. The leading players are adopting several growth strategies to enhance the market scenario of bio preservation. Other competitive strategies include product launches; mergers & acquisitions; agreements, partnerships, & collaborations; and expansions to diversify their product portfolio in order to strengthen their market position.

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“North America is forecast to dominate the global bio preservation market during the next five years on account of significant rise in patient base requiring high-end treatment for chronic diseases. Furthermore, rising government investment in R&D is also contributing to the growing trend. Additionally, growing instances of lifestyle diseases such as obesity, diabetes, and renal diseases, which lead to organ damage, is fueling the demand for organ transplantation, which is further anticipated to boost the market growth for bio preservation in region over the coming years.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“Global Bio Preservation Market By Product (Media, Equipment, Accessories, Alarms & Monitoring System, Incubators, Centrifuges, Other), By Biospecimen (Human Tissue Samples, Stem Cells, Organs, Others), By Cell Providers (CD34+, CD19+, MSC, iPSC, hESC, Tumor Cells), By Application (Therapeutic, Research, Clinical Trials, Others), By End User (Biobanks, Gene Banks, Hospitals, Others), By Region, Forecast & Opportunities, 2025” has evaluated the future growth potential of global bio preservation market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global bio preservation market.

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