Biopreservation Market Size By Product (Equipment, Media, Laboratory Information Management System), By Application (Regenerative Medicine, Biobanking, Drug Discovery), Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, Japan, China, Brazil, Mexico, South Africa), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024
Published Date: September 2016 | 85 Pages | Report ID: GMI762 Report Format: PDF
Biopreservation Market size was valued at more than USD 3 billion in 2015 and will surpass USD 9.7 billion with 13.4% CAGR from 2016 to 2024.
U.S. Biopreservation Market size, by product, 2012- 2024 (USD Million)
Major drivers contributing to industry growth include increasing R&D expenditure, rising demand for preserving new-born stem cells, growing number of sperm and egg banks, use of assisted reproductive technology (ART) in animals, growing awareness among people and technological advancements in healthcare.
A large population base affected with lifestyle related disorders as well as with chronic illnesses such as cardiovascular disease (CVD), cancer and hypertension will boost industry growth. Increasing public and private expenditure on medical goods and services, increasing disposable income, rising demand of regenerative medicines and extensive application of biobanking for preserving cells, tissues and organs will also fuel global biopreservation market size expansion over the forecast timeframe.
Biobanking application was the highest revenue generating segment in 2015 and it will retain its position during the coming years due to sanction of new biobanking projects in developing countries. However, lack of stringent regulations and ethics, lack of funding, and restrictions on medical data export will restrain segment growth.
Biopreservation Market, By Product
Global biopreservation market share comprises of media, equipment and laboratory information management system (LIMS). Equipment segment comprises of cryo bags, vials, tubes, gloves, refrigerators, freezers, liquid nitrogen (LN2) tanks and other consumables. This segment dominated the industry in 2015, holding around 80% of industry revenue share. Growing application of bio-preservation equipment in DNA, stem cell, plasma, and tissue research sectors will accelerate segment growth.
Biopreservation media market size will also witness steady growth attributed to the advancements in regenerative medicine and tissue engineering. Regenerative medicine will be the fastest growing segment owing to the rising demand for efficient bio-storage techniques. Huge public and private investments in regenerative cell therapy research and rising number of biobanks will increase segment size. LIMS is used for the data management of preserved samples and will show significant growth due to growing number of storage facilities.
Cell providers market includes CD19+, CD34+, iPSC, MSC, hESC, tumor cells, and other cells. Tumor cells dominate the overall share in 2015 due to their extensive use in R&D, diagnosis, and treatment of cancer. iPSC industry will witness the fastest growth owing to their mounting utility in regenerative medicines.
Biopreservation Market, By Application
Major biopreservation application divisions are biobanking, drug discovery and regenerative medicines. Biobanking division seized the overall market share in 2015 owing to its extensive application in veterinary IVF, human sperms and human eggs. Regenerative medicine will show a lucrative growth during the forecast timeframe due to increase in demand for effective bio-storage procedures.
Biopreservation Market, By Region
U.S. biopreservation market share dominates the industry holding about 45% of revenue due to increased demand for diagnosis of chronic diseases, government regulations supporting ethical usage of biological samples and development of novel drugs and therapies in healthcare research.
Asia Pacific, driven by China and India biopreservation market size, will show a sustainable growth during the forecast period owing to rising population, increasing prevalence of chronic illness, unmet healthcare needs, rising awareness about preservation of umbilical cord cells and rising investment in healthcare research.
Competitive Market Share
The primary strategies adopted by major companies include mergers and acquisitions, employing effective services and launching of new product in order to sustain biopreservation market share. Key industry participants are Thermo Fisher, Qiagen, Biolife Solutions, Cesca therapeutics, Atlanta Biologicals, Lifeline Scientific, LabVantage Solutions and VWR International.
Thermo Fisher Scientific and BioCision were leading industry participants in 2015 due to their wide regional presence and broad product portfolio particularly relating to media, freezers, refrigerators and consumables.
Biopreservation Industry Background
Government initiatives in the form of grants, funds, contracts and other funding systems have accelerated R&D in healthcare. Asia Pacific industry will register fastest growth over the forecast period. The Asian Pharmacoepidemiology Network (AsPEN), International Cancer Genome Consortium (ICGC), Asian Cohort Consortium (ACC), Asian Cancer Research Group (ACRG), Korea Bio-bank Project (KBP), China Kadoorie Bio-bank (CKB), and the Bio-bank Japan Project are some projects on bio-banking and bio-preservation in Asia Pacific. Furthermore, improving healthcare infrastructure, rising awareness about cell or tissue biopreservation, increasing population base coupled with growing prevalence of cancer in APAC will open up great opportunities for biopreservation market growth. The regulatory bodies such as FDA, WHO and International Society for Biological and Environmental Repositories (ISBER) formulate approval process for bio-preservative facilities. These facilities are required to comply with the guidelines of Good Tissue Practices (GTP), Good Storage Practices (GSP) and ISBER guidelines for preservation of bio specimens.
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