DUBLIN--(BUSINESS WIRE)--The "Biopreservation Market by Type (Media (Sera), Equipment (Thawing Equipment, Alarms, Freezers)), Biospecimen (Human Tissue, Stem Cells, Organs), Application (Therapeutic, Research, Clinical Trials), End User (Hospitals, Biobank) - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The biopreservation media and equipment market is projected to reach USD 4.9 billion by 2025 from USD 3.1 billion in 2020, at a CAGR of 9.1% between 2020 and 2025.
Increasing R&D investments, advances in biobanking and the growing trend of conserving cord blood stem cells of newborns, rising investments in regenerative medicine research, and the increasing demand for personalized medicine are the major factors driving the growth of the biopreservation media and equipment market. Emerging economies are likely to create significant growth opportunities for players in the market. However, the high cost of biopreservation equipment will challenge market growth.
By type, biopreservation equipment segment is expected to grow at the highest CAGR during the forecast period.
Based on type, the biopreservation media and equipment market is segmented into biopreservation media and biopreservation equipment. While the biopreservation media segment accounted for the largest market share in 2019, biopreservation equipment segment is expected to register the highest growth during the forecast period. The high growth rate of this segment is attributed to the increasing research activities in the field of regenerative medicine, increasing the number of organ transplants and the growing number of biobanks worldwide.
By biospecimen, the human tissue samples segment dominated the global biopreservation media and equipment market in 2019.
Based on biospecimen, the biopreservation media and equipment market is segmented into human tissue samples, organs, stem cells and other biospecimens. Human tissue samples segment accounted for the largest share of the global biopreservation media and equipment market in 2019, increasing the number of biobanks and growth in R&D spending for life science research.
The Asia Pacific biopreservation media and equipment market is expected to witness the highest growth during the forecast period.
The Asia Pacific market is estimated to grow at the highest CAGR during the forecast period, primarily due to increasing public and private investments in life sciences research, a growing number of biobanks and research centres and high prevalence of chronic diseases.
- Increasing R&D Investments
- Advances in Biobanking and the Growing Trend of Conserving Cord Blood Stem Cells of Newborns
- Rising Investments in Regenerative Medicine Research
- Increasing Demand for Personalized Medicine
- High Cost of Advanced Techniques
- Stability Issues Due to Tissue Injury During Freezing and Thawing
- Asia Offers Significant Growth Opportunities
- Rising Demand for Organ Transplants
- Growing Number of Research Studies in the Field of Biopreservation
- Increasing Demand for Room Temperature Storage Technologies
Disruption of Research Activities and Clinical Trials Due to the Covid-19 Pandemic
- Thermo Fisher Scientific, Inc.
- Merck Kgaa
- Avantor, Inc.
- Thermogenesis Holdings, Inc.
- Bio-Techne Corporation
- Biolife Solutions, Inc.
- Exact Sciences Corporation
- Worthington Industries, Inc.
- Chart Industries, Inc.
- So-Low Environmental Equipment Co., Inc.
- Princeton Cryotech, Inc.
- Biocision, Llc.
- Shanghai Genext Medical Technology Co., Ltd.
- Phc Holdings Corporation
- Helmer Scientific, Inc.
- Nippon Genetics Europe
- Stemcell Technologies, Inc.
- Ams Biotechnology (Amsbio)
- Ops Diagnostics
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