A recent report published by Infinium Global Research on biopreservation market provides in-depth analysis of segments and sub-segments in the global as well as regional biopreservation market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional biopreservation market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global biopreservation market. According to the report, the global biopreservation market is projected to grow at a CAGR of 9.1% over the forecast period of 2019-2025.
Bio-preservative is a technique for preserving cells, organs, and tissues outside the native environment. This technique is primarily used for extending the shelf life and to ensure the stability and purity of cells, organ, and tissues. Bio-preservation plays a vital role in the various clinical application which involves cell-based technology. Bio-preservation equipment such as biological freezers and refrigerators are used for proper storage and preservation specimen.
Growing demand for cell-based therapy across the globe promotes the growth of the bio-preservative market. Cryopreservation is a process that involves cooling living cells and tissues to very low temperature in order to protect it from damage. Cryopreservation plays a vital role in the delivery of cell-based therapies such as stem cell regenerative medicine, blood transfusion, fertility preservation, and lymphocyte immunotherapy. Moreover, increasing adoption of regeneration medicine due to the shortage of organ donor transplantation contributes to the growth of the bio-preservative market.
A growing number of government initiatives and funding to support research activities for the development of various treatment is another key factor that escalates the growth of biopreservation market. However, higher costs required for bio-preservation instruments and its maintenance and lack of skilled personnel for handling the bio-preservation process are some factors hampering the growth of the biopreservation market. Furthermore, growth in adoption of bio-banking and development of novel preservative technologies for cells and tissue to support the transplantation of cell-based technologies is creating growth opportunities for the bio-preservative market.
North America region holds the largest share in the biopreservation market. The U.S. region is accounted to be the largest contributor in the bio-preservative market owing to the surging demand for organ transplantation. According to the U.S. Government Information on Organ Donation and Transplantation, 34,770 organ transplants were performed in 2017. Growing incidences of chronic diseases are responsible for the high demand for bio-preservation products North America region. Europe is anticipated to be the second largest region for the biopreservation market owing to the growing number of births rate and with-it constant increase in demand for umbilical cord preservation. Asia Pacific is expected to witness the highest CAGR during the forecast period owing to a number of people are suffering from chronic disease and growing healthcare spending. Moreover, in-house bio-preservation facilities are creating growth opportunities for the bio-preservative market in the Asia Pacific region.
The report on global biopreservation market covers segments such as products, biospecimens, application, and end-users. On the basis of products, the sub-markets include lab information management systems, biopreservation media, equipment. On the basis of biospecimens, the sub-markets include organs, human tissue samples, stem cells, and others. On the basis of application, the sub-markets include clinical trials, therapeutics, drug discovery, regenerative medicine, and bio-banking. On the basis of end-users, the sub-markets include hospitals, biobanks, gene bank, and others.
The report provides profiles of the companies in the market such as VWR International, Princeton CryoTech Inc., Core Dynamics Ltd, Custom Biogenic Systems Inc., BioCision LLC, Thermo Fisher Scientific Inc., Sigma-Aldrich Corporation, Lifeline Scientific Inc., Cesca Therapeutics Inc., and BioLife Solutions Inc.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of biopreservation market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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