Visiongain Publishes Biopreservation Market Report 2023-2033
27 February 2023
Visiongain has published a new report entitled Biopreservation Market Report 2023-2033: Forecasts by Product (Equipment, Media, Laboratory Information Management Systems (LIMS)), by Application (Regenerative Medicine, Biobanking, Drug Discovery), by Cell Providers Volume (CD34+, CD19+, MSC, iPSC, hESC, Tumour Cells, Others) AND Regional and Leading National Market Analysis PLUS Analysis of Leading Companies AND COVID-19 Impact and Recovery Pattern Analysis.
The biopreservation market was valued at US$5,379.5 million in 2022 and is projected to grow at a CAGR of 9.86% during the forecast period 2023-2033.
Applications of Biopreservation in Regenerative Medicine
Biopreservation involves the preservation and storage of cells, tissues, organ and other biological materials to maintain their viability and functionality. In regenerative medicine, biopreservation plays a crucial role in the preservation of cells and tissues for later use in transplantation and regenerative therapies. Several companies are joining ties and launching their services to the sector. For instance, Essent Biologics in January 2021, announced its commitment to provide the human-derived biological materials and 3D biology data to its clinical partners and regenerative medicine research community. The business has the capacity to function as a partner in biomanufacturing, producing a sizable supply of unique products. In addition to that, cells and tissues are preserved using biopreservation procedures for use in regenerative medicine in the future. This makes it possible for medical professionals to have access to high-quality tissues and cells for use in transplants and regenerative treatments. Stem cells are crucial elements of regenerative medicine, and they are preserved via biopreservation procedures for use in regenerative therapies in the future. Researchers' perspectives on regenerative medicine have undergone a revolutionary change as a result of technological developments in stem cell-based therapeutics. The advancement of regenerative medicine has accelerated due to advancements in stem cell therapy.
How has COVID-19 had a Moderately Negative Impact on the Biopreservation Market?
The COVID-19 had a moderately negative impact on the biopreservation industry. The pandemic increased the demand for biopreservation as healthcare institutions and researchers race to develop vaccines and treatments for COVID-19. This resulted in increased demand for biopreservation techniques to store and preserve biological materials for future use. The development of COVID-19 vaccines increased the demand for biopreservation techniques to store and preserve these vaccines. Biopreservation provides a way to ensure the viability and safety of vaccines, which is critical in the fight against COVID-19. The pandemic caused disruptions in the supply chain and logistics of drugs and medical devices causing shortages and delays in the supply of biopreservation products and services. This has had a negative impact on the market, as healthcare institutions and researchers struggle to obtain the biopreservation products they need. The pandemic has led to a decrease in funding for biopreservation research, as governments and private organizations underwent economic crisis all throughout the world.
How will this Report Benefit you?
Visiongain’s 276-page report provides 115 tables and 174 charts/graphs. Our new study is suitable for anyone requiring commercial, in-depth analyses for the Biopreservation Market, along with detailed segment analysis in the market. Our new study will help you evaluate the overall global and regional Biopreservation market. Get financial analysis of the overall market and different segments including product, application, cell provider and capture higher market share. We believe that there are strong opportunities in this fast-growing Biopreservation Market. See how to use the existing and upcoming opportunities in this market to gain revenue benefits in the near future. Moreover, the report will help you to improve your strategic decision-making, allowing you to frame growth strategies, reinforce the analysis of other market players, and maximise the productivity of the company.
What are the Current Market Drivers?
Increasing Mergers and Acquisitions Driving Market Growth
The increasing number of mergers and acquisitions is driving the biopreservation market growth. For instance, the IndivuServ business unit of Indivumed GmbH will be acquired by Crown Bioscience, a multinational contract research organisation (CRO) and a JSR Life Sciences firm, according to a January 2023 announcement. The highly curated and characterized biobank with approximately one million samples and related clinical data is included in Crown Bioscience's proposed acquisition of Indivumed Services, along with a vast network of more than 60 clinical divisions in the US, Europe, and Asia. The rising acquisition initiatives push the demand for biopreservation tools and techniques, thus driving the market growth.
Prominent Players Expansion Strategies
Several companies are expanding their footprint in the market to sustain in the industry. For instance, a new lab for Sampled SMART Labs, formerly Infinity BiologiX LLC, opened in Glasgow, UK, in June 2022. The facility, which is headquartered in Glasgow, United Kingdom, is a cutting-edge 3000 square foot biosample research and analysis lab dedicated to providing Sampled Smart Labs service options to European clients. The facility was established in BioCity, Scotland's life sciences incubator, and is surrounded by cutting-edge technology in the fields of genomics and bioprocessing. Thus, such measures drive the market growth.
Where are the Market Opportunities?
Rise in Fertility Preservation Programmes
The rise in awareness created by the associations related to fertility preservation techniques, comprising of oocyte preservation, human sperm preservation, will lead to an increase in biopreservation techniques demand. For instance, a new fertility preservation programme for ovarian tissue for cancer patients started in January 2022 at Guy's and St. Thomas' in the UK. One of the pioneering programmes in the UK, the comprehensive programme gives patients access to every method of fertility preservation that is currently available, including standard egg and embryo freezing and the freezing of ovarian tissue. Ovarian tissue cryopreservation (OTC) has been added to the services offered by one of the oldest and largest fertility preservation companies in the world. It gives fertile women the opportunity to keep having children while getting chemotherapy or stem cell treatments.
Increased Focus on Biobanking Sector
The rising focus on biobanking sector of biopreservation fuels the demand for the equipment, tools, techniques, and services. For instance, in October 2021, the South African Department of Science and Innovation (DSI) launched the Biobanks South Africa (BBSA) as part of its South African Research Infrastructure Roadmap. It was put into effect in 2021 with the intention of formalising the South African network of biodiversity biobanks. In addition to that, in June 2022, six biobanks joined the German Biobank Alliance (GBA). Thus, such rising focus on biobanking expansion strategies, coupled with the joint venturing is likely to create lucrative opportunities in the biopreservation market.
The major players operating in the biopreservation market are Arctiko, Azenta, BioLife Solutions Inc., Biomatrica, Cryoport Systems, LLC, Eppendorf SE, Helmer Scientific Inc., Merck KGaA, PHC Holdings Corporation, Qiagen, Taylor-Wharton Cryogenics LLC, Thermo Fisher Scientific Inc., and VWR International, among others. To increase their market position, major players in the industry are choosing strategic initiatives such geographic expansion, alliances, and mergers and acquisitions.
• In May 2022, BioLife Solutions, Inc. executed a co-marketing agreement with Coriell Institute of Medical Research. Under the terms of the agreement, BioLife, under its SciSafe® brand, will promote Coriell's biospecimen processing services and Coriell will promote BioLife's biologic storage services to the scientific research and biopharma markets. The parties will share revenue generated from these co-marketing activities.
• In December 2021, X-Therma Inc., a biotechnology company developing technology for regenerative medicine and organ preservation completed a US$13 million Series A investment round with LOREA AG, Graphene Ventures, Methuselah Foundation, Zen11 Holdings, VU Venture Partners, and a few other investment firms were in charge of the fund-raising program.
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