Biopreservation market is growing significantly in the near future. Biopreservation is a technique primarily used for the preservation of a wide range of products including organs, tissues, and cells outside their native environment. The method of biopreservation extends the shelf life of various products also ensures the purity and stability of organs, tissues, and cells that are preserved. Biopreservation has found many applications in a various clinical process that involves cell-based technology. Types of equipment such as biological freezers, refrigerators, temperature maintaining units, and other vials or microtiter plates are used for the storage and preservation method.
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Market - Global Industry Share, Growth, Competitive Analysis and Forecast,
2019-2025 at
Factors such as growing demand for the preservation of newborn baby’s stem cell, increasing spending on R&D and rapid adoption of regenerative medicine are considered as major drivers of biopreservation market. According to the National Diabetes Statistic report in 2017, approximately 30 million people that account for 9.4% of the US population had diabetes. Diabetic people are not good for organ donation and hence the shortage in the number of donors will increase the demand for regenerative medicines, in turn, escalating the biopreservation industry. The increasing growth rate in combination with the substantial size of healthcare spending will drive the hospitals, biobanks, and gene banks that are considered as major end-user of the market.
Increasing healthcare expenditure across the globe is driving the growth of the biopreservation market. According to the WHO’s latest analysis, there is a swift growth in healthcare expenditure which is increasing at a faster pace than the rest of the economy. Particularly, low- and medium-income countries show growth with a rate of 6% annually compared to high-income countries where the growth rate is 4% annually on average. Behind this trend, there is a new norm government health expenditure is central and is increasing with economic growth as well as general government spending. In lower-middle-income countries, government expenditure on health has become double since the year 2000 making it on the average spending of 60$ per capita. This increase in expenditure by both lower-middle-income countries as well as higher-income countries will lead to a rise in the demand for quality healthcare and will be an important driver for the growth of biopreservation market.
Global Biopreservation Market- Segmentation
By Product
o Freezers
o Refrigerators
o Temperature Maintaining Units
o Other (Vials, Microtiter Plates)
o Nutrient Media
o Sera
By Application
By Cell Provider
By End-User
Global Biopreservation Market- Segment by Region
North America
Europe
Asia-Pacific
Rest of the World
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