Biopreservation Market (By Product: Equipment, Media, Laboratory Information Management System; By Application: Regenerative Medicine, Bio-banking, Drug Discovery; By Cell Providers Volume: CD19+, CD34+, iPSC, MSC, Tumor Cells, hESC, Others) - Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2024-2033

Biopreservation Market Size & Share Report, 2033

The global biopreservation market size was valued at USD 2.85 billion in 2023 and is anticipated to reach around USD 32.94 billion by 2033, growing at a CAGR of 27.73% from 2024 to 2033.

Biopreservation Market Key Takeaways

• North America was the largest revenue-generating region in the biopreservation market in 2023 and held a share of 46.89%.
• Asia Pacific is expected to be the fastest-growing region with a CAGR of 30.47%.
• The equipment segment held the highest market share of 80.11% in 2023
• The media segment has the potential to grow as it is a crucial part of the biopreservation process. The segment is expected to grow at a CAGR of 29.99% from 2024 to 2033.
• The biobanking segment dominated the global market with a share of 72.65% in 2023
• Regenerative medicine segment is expected to grow at a higher CAGR of 29.68% in the given forecast period

Biopreservation Market Growth 

Biopreservation is experiencing growth due to various factors such as extensive usage in hospitals and labs, rising funding assistance from government and private partners in healthcare, an upsurge in research & development, and growing advancement in terms of product development. For example, in April 2021, BioLife Solutions launched a new high-capacity controlled freezer to cater to the cell and gene therapy market, which helped the company expand its existing product portfolio. The market experienced a major hindrance during the COVID-19 pandemic with supply chain issues, unavailability of raw materials, and hindrances in research activities among other reasons. However, the pandemic also accelerated the growth of novel biologics, and vaccine technologies. Due to these factors, opportunities for biologics manufacturing and preservation are anticipated to increase, thus generating further demand for biopreservation.

Biopreservation is a process that helps maintain the integrity and functionality of biological products such as stem cells, DNA, tissues, and organs under different temperatures, thereby prolonging their lifespan outside their natural environment. Technology innovations include microarrays or incorporation of a wide range of predictive models, such as hybrid models, and various API algorithms which help reduce the time, cost and complexity of the overall process. Furthermore, the advent of multiplex cellular imaging platforms is anticipated to enhance the biopreservation ability to help understand disease progression and suggest suitable diagnostic & treatment measures to follow, specifically for cardiology, gynecology, and point-of-care applications.

In recent years, there has been an upsurge in demand for use of biopreservation to develop biological products in R&D of various sectors such as immunotherapies, vaccine production, antibody production, enzyme technology, and biologically produced chemicals. This impact is due to the rising number of chronic disease incidences globally. For instance, according to the Centers for Disease Control and Prevention, cardiovascular disorders and cancer are among the leading causes of disease-related mortality in adults in the U.S.  

Furthermore, the government and private sectors have shown interest and supported funding activities in research & development, leading to immense market developments. In recent years, the growing demand for preserving stem cells and developing biological medicines and products has gained investors' focus in this field. This considerable healthcare spending is expected to fuel market growth during the forecast period.

However, the growing biopreservation market is associated with challenges such as the unavailability of skilled professionals and the lack of stringent cybersecurity measures. The high cost of labor training and software standardization are some of the contributing factors. These challenges could potentially impact overall market growth.

Biopreservation Market Report Scope

Market Dynamics:

Drivers:

The rising prevalence of chronic illnesses, the advancement of regenerative medicine, and the growth of biospecimen testing are the primary factors driving the market growth.

The increased frequency of obesity and chronic diseases worldwide is one of the primary reasons driving the market growth. Patients with chronic diseases such as diabetes, heart disease, and degenerative illnesses affecting joints, nerves, and bones, among others, are increasing the demand for biopreservation.

The growing number of patients has significantly burdened the healthcare industry with utilizing improved biospecimen preservation techniques. This has resulted in the widespread adoption and use of bio-preservation technology, facilitating market expansion. Regenerative medications manage and treat various chronic illnesses and degenerative ailments.

To maintain the integrity and efficacy of regenerative treatments, biopreservation techniques are widely used. The increasing use of regenerative medicine has directly contributed to the exponential growth in demand for biopreservation. Furthermore, increased testing by the general public due to various health issues has raised the demand for the healthcare industry to retain biospecimens. The increasing preservation workload has directly raised the need for biopreservation approaches.

Restraints:

The high costs of biopreservation activities

Biopreservation is an advanced preservation technology with significant expenses due to the expensive processes and equipment utilized throughout the preservation process. Biopreservation also has significant stability concerns due to tissue damage during freezing and thawing. Furthermore, the introduction of low-cost preservation procedures like processes of room temperature preservation will hinder market growth.

Opportunities:

Increasing investments in research and development of new drugs, increasing biobanks, and government attempts to create profitable market opportunities.

Major investments have been made by private and public organizations in research and development efforts connected to the creation of new medications, which could potentially assist in fighting the growing number of chronic diseases. The significant increase in expenditure is intended to provide access to superior medical care and advanced products, including biopreservation facilities.

The growing number of biobanks that especially maintain biospecimens has provided significant potential opportunities for the biopreservation market. Governments throughout the world are adopting a variety of steps to encourage cell therapies for the cure of different diseases. Government healthcare efforts provide grants, contracts, and cash for research work, resulting in increased R&D expenditure by organizations.

Product Insights

The equipment segment held the highest market share of 80.11% in 2023 due to rising demand for bio-banking to preserve stem cells, DNA, plasma and tissue culture. The widespread acceptance and utilization of preservation have benefited adequate storage capacity and low maintenance is expected to boost the market.

The media segment has the potential to grow as it is a crucial part of the biopreservation process. The segment is expected to grow at a CAGR of 29.99% from 2024 to 2033. Media applications offer more features and details, allowing researchers to access and share research data and analyses, thereby improving their ability to research, diagnose, monitor, and treat health disorders. This trend is anticipated to drive market growth during the forecast period.

Application Insights

The biobanking segment dominated the global market with a share of 72.65% in 2023. Rising awareness for stem cell preservation, increasing acceptance of sperm and egg banking, and utilizing assistant reproductive technology with animals. Pharmaceutical companies have collaborations with reserve bio-banks and tissue preservation with hospitals.

Regenerative medicine segment is expected to grow at a higher CAGR of 29.68% in the given forecast period owing to increasing demand for technologically advanced bio-storage techniques. In addition, launch of specific preservation techniques is expected to propel the segment growth in coming years.

Regional Insights

North America was the largest revenue-generating region in the biopreservation market in 2023 and held a share of 46.89%. This can be attributed to the presence of advancement in biomedical research and the development of advanced therapies. Furthermore, the rising number of chronic incidences that require treatments creates demand for biopreservation in the region which strengthens its market presence. Such activities are expected to contribute toward expanding the biopreservation product available in the market and drive growth.

The U.S has been projected to have significant growth in the biopreservation market owing to government organizations and various bio-banking institutes that contribute to the penetration of biopreservation techniques. For instance, the biospecimen collection in biorepositories and biobanks is supported by funding actives from the National Institutes of Health (NIH) whereas, National Cancer Institute (NCI) contributes to managing such bio-banking programs. These biobanks support research and clinical trial programs in the country thereby increasing the demand for biopreservation techniques.

Asia Pacific is expected to be the fastest-growing region with a CAGR of 30.47% due to the rising funding support for techniques and services in bio-banking, and increasing partnerships and collaborations following biopreservation techniques.

Recent Developments:

• In May 2022, BioLife Solutions, Inc. signed a co-marketing contract with Coriell Institute of Medical Research. Under the terms of the agreement, BioLife will promote Coriell's biospecimen processing services under the SciSafe® brand, while Coriell will market BioLife's services of biologic storage to the biopharma and scientific research markets. The revenue generated by these co-marketing initiatives will be split between the parties.
• In March 2022, Biolife Solutions declared its goal to expand in the USD 400 m bio storage service industry. Biolife Solutions and Seattle Children's Hospital will collaborate in January 2022 to improve viral vector and gene and cell therapy manufacturing.
• In December 2021, X-Therma Inc., a biotechnology company developing regenerative medicine and organ preservation technology, finished a Series A investment round of US$13 million with Graphene Ventures, LOREA AG, Zen11 Holdings, Methuselah Foundation, V.U. Venture Partners, and some other investment firms.

Biopreservation Market Top Key Companies:

• Biomatrica, Inc.
• Azenta US, Inc.
• MVE Biological Solutions
• BioLife Solutions
• LabVantage Solutions, Inc.
• Thermo Fisher Scientific, Inc.
• Taylor-Wharton
• Panasonic Corporation
• PrincetonCryo
• X-Therma Inc.
• Stirling Ultracold

Biopreservation Market Report Segmentation

This report forecasts revenue growth at country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2033. For this study, Nova one advisor, Inc. has segmented the Biopreservation market.

By Product

• Equipment
  • Refrigerators
  • Freezers
  • Consumables
    • Straws
    • Vials
    • Microtiter Plates
    • Bags
  • Liquid Nitrogen
• Media
  • Home-brew
  • Pre-formulated
• Laboratory Information Management System (LIMS)

By Application

• Regenerative Medicine
  • Gene Therapy
  • Cell Therapy
  • Others
• Bio-banking
  • Human Sperms
  • Human Eggs
  • Veterinary IVF
• Drug Discovery

By Cell Providers Volume

• CD19+
• CD34+
• iPSC
• MSC
• Tumor Cells
• hESC
• Others

By Region

• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East & Africa (MEA)