Biopreservation Market Size is Estimated to grow at a CAGR of 28.3% during the forecast period
The biopreservation market is
expected to increase at a compound annual growth rate (CAGR) of 28.3% between
2024 and 2034, from its estimated size of USD 2.49 billion in 2023 to USD 38.61
billion by 2034. Preserving different biological materials' integrity and
functionality while extending their life outside of their natural habitat is
the major goal of biopreservation. The market's sustained development and
viability are attributed to its alignment with the biobanking, biotechnology,
pharmaceutical, and healthcare industries.
Biopreservation is the technique of keeping biological
materials—such as stem cells, DNA, tissues, and organs—while removing them from
their native habitats. Biopreservation extends the life of these biological
components by storing them at various temperatures.
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GROWTH DRIVERS
The market for biopreservation is expanding mainly because
of its extensive application in laboratories and hospitals, growing backing
from governmental and private partners in the healthcare industry, expanding
R&D procedures, and noteworthy advancements in product development.
More financing from public and commercial organizations is
driving the development and application of biopreservation technology.
Biopreservation techniques are widely used in healthcare settings for a number
of reasons, such as the preservation and storage of biological materials for
use in research, therapy, and diagnostic applications. It is anticipated that
this will increase demand on the global market. In order to meet the increasing
demand, new and creative biopreservation
methods are being developed, such as high-capacity controlled freezers.
MARKET
SEGMENTATION:
· By
Product – Media, Equipment, Accessories
· By
Application – Therapeutic Applications, Research Applications, Other
Applications
· By
End User – Biobanks, Gene Banks, Hospitals, Other End Users
· By
Region – North America, Europe, Asia Pacific, Latin America, Middle
East & Africa
Global Key
Players:
· BioLife
Solutions
· Azenta
US, Inc.
· MVE
Biological Solutions
· OPS
Diagnostics
· LabVantage
Solutions, Inc.
· Thermo
Fisher Scientific, Inc.
· Taylor-Wharton
· Panasonic
Corporation
· PrincetonCryo
· X-Therma
Inc.
· Stirling
Ultracold
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