Selbyville, Delaware, Sept. 26, 2022 (GLOBE NEWSWIRE) —
The biopreservation market value is anticipated to cross USD 9.5 billion in revenue by 2030, according to a new research report by Global Market Insights Inc.
Increasing demand for regeneration medicines due to rising occurrences of lifestyle diseases will drive the industry trends. Growing need for effective healthcare systems, along with prominent healthcare expenditure, will increase the demand for biopreservatives. The soaring cases of chronic diseases among the elderly population have encouraged government agencies to spend massively on healthcare, pushing gene banks, bio banks and hospitals to focus on biopreservation.
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Wide applicability in research laboratories to push the industry landscape
Biopreservation market from equipment segment was valued at over USD 3.5 billion in 2021, due to the growing demand for biopreservation equipment to preserve blood, vaccines, and more, in hospitals and laboratories. The equipment includes freezers, refrigerators, consumables, and liquid nitrogen and are widely utilized in DNA, stem cell, plasma, and tissue research sectors.
CD34+ cell provider segment to foster market expansion
The CD34+ segment was worth more than USD 810 million in 2021. This is attributed to the prevalent use of cell surface marker CD34+ for the diagnosis of hematopoietic stem cells that can differentiate into multiple lineages. Blood from newborns’ umbilical cords is a crucial source of these cells. Notable advancements in stem cell research will stimulate product penetration.
Browse key industry insights spread across 260 pages with 413 market data tables & 13 figures & charts from the report, “Biopreservation Market Analysis By Product (Equipment {Freezers, Refrigerators, Consumables [Vials, Straws, Microtiter, Bags], Liquid Nitrogen}, Media {Pre-formulated, Home-brew}, Laboratory Information Management System [LIMS]), By Application (Regenerative Medicine {Cell Therapy, Gene Therapy}, Biobanking {Human Eggs, Human Sperm, Veterinary IVF}, Drug Discovery), By Cell Provider (CD34+, CD19+, MSC, iPSC, hESC, Tumor Cells), Industry Analysis Report, Regional Outlook Growth Potential, Competitive Market Share & Forecast, 2022 – 2030” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/biopreservation-market
High demand for advanced storage facility to boost industry size
Biopreservation market from regenerative medicine segment accounted USD 1 billion in 2021. owing to the rising demand for advanced bio storage facilities. Intensifying demand for regenerative therapies that require regenerative medicines will propel the demand for effective bio-storage procedures. For instance, in September 2022, CIRM provided around $2.7 million to UCI to establish a regenerative medicine training program to spread awareness regarding its benefits.
North America to emerge as a prominent regional market due to surging incidences of chronic diseases
North America biopreservation market held a substantial industry share of more than 45% in 2021 and is slated to depict significant growth over the assessment timeframe. Exponential demand for diagnosis of chronic diseases may be a key factor pushing regional market revenue. In addition, government guidelines supporting ethical usage of biological samples and the development of novel drugs & therapies in the healthcare space will foster the North America industry outlook.
Effective expansion plans to remain a vital development strategy for industry players
The competitive landscape of the biopreservation market is inclusive of Arctiko A/S, Thermo Fisher Scientific Inc, PHC Holdings Corporation, Cryport, Inc, Eppendorf AG, Helmer Scientific, VWR International (Avantor, Inc.), Biolife Solutions, Azenta, and Merck KGaA. These companies primarily focus on research and development and enter into strategic mergers and collaborations to proliferate their market position.
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About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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