Biopreservation Market Analysis

Biopreservation Market Analysis

In terms of product, the biopreservation market is categorized into equipment, media, and laboratory information management system (LIMS). The laboratory information management system segment is set to cross USD 630 million by 2030. The LIMS is used for data management of preserved samples and will witness significant demand due to the soaring number of storage facilities. Moreover, emerging technological advancements, which are leading to efficient biopreservation techniques, will accelerate industry trends.
 

With respect to cell provider, the biopreservation market is divided into CD34+, CD19+, MSC, iPSC, hESC, and tumor cells. The tumor cells segment is projected to exceed USD 1.5 billion by 2030. This is attributed to the increasing prevalence of cancer across the globe, which requires advanced biopreservation systems to store therapeutic medicines and injections. 
 

In terms of application, the biopreservation market is segregated into regenerative medicine, biobanking, and drug discovery. The biobanking segment will register a share of over 70% in the biopreservation industry by 2030. A prominent factor that is contributing to the growth of the biobanking segment is the escalating number of biobanks around the world for conducting biopreservation techniques.
 

Asia Pacific biopreservation market anticipated to surpass USD 2 billion by 2030 owing to the expanding population and prevalent unmet healthcare needs. Moreover, the mounting awareness regarding the preservation of umbilical cord cells and snowballing investment in healthcare research activities will spur the business potential.
 

Another region that may appear as a key revenue hub is Latin America. The strong government research and development support will boost the acceptance of bio-storage, which in turn is estimated to impel regional market expansion. The LATAM biopreservation business is primed to depict strong growth at more than 8.5% CAGR through 2030.