U.S. Biopreservation Market Size, Share & Trends Analysis Report By Product (Laboratory Information Management Systems), By Application (Regenerative Medicine, Biobanking, Drug Discovery), And Segment ) - Industry Analysis, Size, Share, Growth, Trends, and Forecast 2024-2033

U.S. Biopreservation Market Size and Growth

The U.S. biopreservation market size was valued at USD 1.90 billion in 2023 and is projected to surpass around USD 23.05 billion by 2033, registering a CAGR of 28.35% over the forecast period of 2024 to 2033.

U.S. Biopreservation Market Size, 2024 to 2033

U.S. Biopreservation Market Key Takeaways

  • In 2023, biobanking emerged as the largest application of biopreservation, accounting for a substantial 70.22% of the market revenue share.
  • The regenerative medicine segment is expected to witness the fastest CAGR over the forecast period.
  • Biopreservation equipment occupied the largest share of the market in 2023, accounting for over 75.21% of the revenue generated.
  • Media segment is expected to exhibit the fastest compound annual growth rate (CAGR) between 2024 and 2033

U.S. Biopreservation Market Growth 

The combination of rising demand for biopreservation services, technological advancements, strategic business approaches, government support, and a conducive regulatory environment is driving the market growth significantly.

In 2023, The U.S. accounted for nearly 40% of the global biopreservation market. The increasing incidence of chronic diseases and the growing adoption of regenerative therapies are fueling the demand for biopreservation services in the healthcare sector. Biopreservation techniques play a crucial role in maintaining the integrity and functionality of biological samples used in regenerative medicine, research, and clinical trials. Consequently, pharmaceutical companies, biotechnology firms, and hospitals in the U.S. are adopting advanced biopreservation solutions, driven by developments in next-generation cryopreservation methods, hypothermic storage formulations, and nanoscale technologies.

Market participants are engaging in research and development, strategic mergers, acquisitions, and partnerships to broaden their market presence and enhance profitability. Through active involvement in these initiatives, companies aim to strengthen their market standing, drive growth, and capitalize on emerging opportunities within the industry. Moreover, favorable government initiatives and the increasing adoption of biopreservation techniques from expanding biobanks are contributing to the market growth.

The National Institutes of Health (NIH) and the National Cancer Institute (NCI) provide funding and support for biospecimen collection in biorepositories and biobanks. These institutions contribute to managing bio-banking programs, which in turn support research and clinical trial programs in the United States. This increased demand for biopreservation techniques enhances the efficiency and effectiveness of biobank-related activities, ultimately benefiting the market.

Ongoing research focused on the longevity of products preserved using biopreservation techniques, along with regulatory considerations ensuring quality standards and safety in biopreservation practices, further propels market forecasts. The 2023, Bold Goals for U.S. Biotechnology and Biomanufacturing highlight a rising demand for precision medicine and, consequently, biopreservation firms to aid its progression. Initiatives like the Cancer Genome Atlas and Cancer Moonshot fuel precision medicine advancements. To achieve comprehensive precision medicine at scale, biotechnology and biomanufacturing innovations are crucial, thus emphasizing diverse population representation in biopreservation practices. This makes the U.S. an ideal environment for biopreservation companies to explore new products and services.

U.S. Biopreservation Market Report Scope

Report Attribute Details
Market Size in 2024 USD 2.44 Billion
Market Size by 2033 USD 23.05 Billion
Growth Rate From 2024 to 2033 CAGR of 28.35%
Base Year 2023
Forecast Period 2024 to 2033
Segments Covered Product, application
Market Analysis (Terms Used) Value (US$ Million/Billion) or (Volume/Units)
Report Coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Key Companies Profiled Azenta US, Inc.; Biomatrica, Inc.; BioLife Solutions Inc.; MVE Biological Solutions; LabVantage Solutions, Inc.; Taylor-Wharton; Thermo Fisher Scientific, Inc.; Panasonic Corporation; X-Therma Inc.; PrincetonCryo; BioCision LLC; Lifeline Scientific Inc.; Merck KGaA; VWR International, LLC

U.S. Biopreservation Market By Application Insights

In 2023, biobanking emerged as the largest application of biopreservation, accounting for a substantial 70.22% of the market revenue share. The considerable healthcare expenditure in the country highlights the significance of advanced biopreservation techniques in supporting medical research and development. This importance is further emphasized by government healthcare initiatives that provide funding and support for research contracts, actively promoting the establishment and growth of biobanks within the country.

The regenerative medicine segment is expected to witness the fastest CAGR over the forecast period. Regenerative medicine offers innovative treatment options for various conditions, complementing traditional methods. Thus, the segment growth is fueled by rapid advancements in stem cell research, including discovering new stem cell sources and enhancing safety and efficacy through improved manipulation techniques. As regenerative medicine often relies on preserving biological materials like stem cells for research and treatment, there is a growing need for advanced biopreservation technologies to support the progress of regenerative medicine.

U.S. Biopreservation Market By Product Insights

Biopreservation equipment occupied the largest share of the market in 2023, accounting for over 75.21% of the revenue generated. This growth is attributable to the escalating demand for bio-banking and preservation of valuable biological materials such as stem cells, DNA, plasma, and tissue culture. The widespread acceptance and utilization of biopreservation techniques have significantly contributed to the growth of this market segment. Adequate storage capacity and the low maintenance requirements associated with biopreservation equipment are expected to further boost its market dominance in the coming years.

U.S. Biopreservation Market Share, By Product, 2023 (%)

Media segment is expected to exhibit the fastest compound annual growth rate (CAGR) between 2024 and 2033, the biopreservation media segment is poised to significantly contribute to the overall market expansion. This rapid growth can be attributed to the increasing adoption of media applications in research, which provide enhanced features and detailed information. These advanced applications enable researchers to access and share research data and analyses more effectively, ultimately improving their ability to investigate, diagnose, monitor, and treat various health disorders. This trend is expected to drive the growth of the biopreservation media segment and the market as a whole during the forecast period.

U.S. Biopreservation Market Recent Developments

  • In September 2023, Merck became the first CTDMO to offer fully integrated services for all stages of mRNA development, manufacturing, and commercialization. With new sites in Darmstadt and Hamburg, Merck’s recent expansion is expected to aid the U.S. market with pre-clinical as well as commercial offerings.
  • In June 2023, BioLife Solutions launched the IntelliRate i67C, a large-capacity controlled-rate freezer that catered to the growing need for higher volume production of cell therapies, expanding its product line to three form factors.
  • In March 2023, BioLife Solutions introduced Ultraguard, a groundbreaking non-toxic, non-hazardous, and non-flammable −70°C phase change material for ultra-low temperature protection. This innovation serves two primary applications: providing temperature holdover support during power outages in ULT freezers and offering a safer, more cost-effective alternative to dry ice for benchtop biologic material storage
  • In February 2022, OriGen Biomedical Inc. introduced the FLEX Freezing Bag from CryoStore in both Europe and the U.S. This innovative product, contributing to advancements in cell culture, cryopreservation, and respiratory devices, showcases the company’s commitment to driving progress in these fields.

Key U.S. Biopreservation Company Insights

The U.S. biopreservation market exhibits consolidation, characterized by continuous strategic collaborations and mergers & acquisitions. Companies actively pursue these moves to gain a competitive edge by seizing untapped opportunities in the market. Azenta US, Inc.; Biomatrica, Inc.; BioLife Solutions Inc.; MVE Biological Solutions; LabVantage Solutions, Inc.; Taylor-Wharton; and Thermo Fisher Scientific, Inc. are some key companies operating in the U.S. biopreservation market.

Companies in the U.S. biopreservation market are strongly motivated to broaden their service offerings, penetrate new markets, benefit from economies of scale, and fortify their competitive positions. These objectives drive their expansion strategies and contribute to the industry’s growth and diversification.

For instance, in January 2022, Ori Biotech Ltd., a CGT manufacturing technology leader, secured over USD 100 million in an oversubscribed Series B funding round, led by Novalis LifeSciences with Puhua Capital and Chimera Abu Dhabi as new investors. This platform, designed for automation and standardization, enhanced CGT manufacturing efficiency, quality, and cost-effectiveness.

U.S. Biopreservation Market Top Key Companies:

  • Azenta US, Inc.
  • Biomatrica, Inc.
  • BioLife Solutions Inc.
  • MVE Biological Solutions
  • LabVantage Solutions, Inc.
  • Taylor-Wharton
  • Thermo Fisher Scientific, Inc.
  • Panasonic Corporation
  • X-Therma Inc.
  • PrincetonCryo
  • BioCision LLC
  • Lifeline Scientific Inc.
  • Merck KGaA
  • VWR International, LLC

U.S. 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 U.S. Biopreservation market.

By Product 

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

By Application 

  • Regenerative Medicine
  • Cell Therapy
  • Gene Therapy
  • Others
  • Biobanking
  • Human Eggs
  • Human Sperm
  • Veterinary IVF
  • Drug Discovery

Frequently Asked Questions

The combination of rising demand for biopreservation services, technological advancements, strategic business approaches, government support, and a conducive regulatory environment is driving the U.S. Biopreservation market growth significantly.

The key players in U.S. biopreservation market include Azenta US, Inc.; Biomatrica, Inc.; BioLife Solutions Inc.; MVE Biological Solutions; LabVantage Solutions, Inc.; Taylor-Wharton; Thermo Fisher Scientific, Inc.; Panasonic Corporation; X-Therma Inc.; PrincetonCryo; BioCision LLC; Lifeline Scientific Inc.; Merck KGaA; VWR International, LLC

The U.S. biopreservation market size was valued at USD 1.90 billion in 2023 and is projected to surpass around USD 23.05 billion by 2033

The U.S. biopreservation market is expected to grow at a compound annual growth rate of 28.35% from 2024

Chapter 1. Methodology and Scope
                   1.1. Market Segmentation & Scope
                   1.2. Segment Definitions
                       1.2.1. Product
                       1.2.2. Application
                       1.2.3. Estimates and forecasts timeline
                   1.3. Research Methodology
                   1.4. Information Procurement
                       1.4.1. Purchased database
                       1.4.2. nova one advisor’s internal database
                       1.4.3. Secondary sources
                       1.4.4. Primary research
                       1.4.5. Details of primary research
                   1.5. Information or Data Analysis
                       1.5.1. Data analysis models
                   1.6. Market Formulation & Validation
                   1.7. Model Details
                       1.7.1. Commodity flow analysis (Model 1)
                       1.7.2. Approach 1: Commodity flow approach
                       1.7.3. Volume price analysis (Model 2)
                       1.7.4. Approach 2: Volume price analysis
                   1.8. List of Secondary Sources
                   1.9. List of Primary Sources
                   1.10. Objectives
Chapter 2. Executive Summary
                   2.1. Market Outlook
                   2.2. Segment Outlook
                       2.2.1. Product Outlook
                       2.2.2. Application Outlook
                   2.3. Competitive Insights
Chapter 3. U.S. Biopreservation Market Variables, Trends & Scope
                   3.1. Market Lineage Outlook
                       3.1.1. Parent market outlook
                       3.1.2. Related/ancillary market outlook
                   3.2. Market Dynamics
                       3.2.1. Market driver analysis
                       3.2.2. Market restraint analysis
                       3.2.3. Market opportunity analysis
                   3.3. U.S. Biopreservation Market Analysis Tools
                       3.3.1. Industry Analysis - Porter’s
                           3.3.1.1. Supplier power
                           3.3.1.2. Buyer power
                           3.3.1.3. Substitution threat
                           3.3.1.4. Threat of new entrant
                           3.3.1.5. Competitive rivalry
                       3.3.2. PESTEL Analysis
                           3.3.2.1. Political landscape
                           3.3.2.2. Technological landscape
                           3.3.2.3. Economic landscape
Chapter 4. U.S. Biopreservation Market: Product Estimates & Trend Analysis
                   4.1. U.S. Biopreservation Market: Product Dashboard
                   4.2. U.S. Biopreservation Market: Product Movement Analysis
                   4.3. U.S. Biopreservation Market Size & Forecasts and Trend Analyses, 2018 to 2030 for the following
                   4.4. Equipment
                       4.4.1. Market estimates and forecasts 2021 to 2033
                       4.4.2. Freezers
                           4.4.2.1. Market estimates and forecasts 2021 to 2033
                       4.4.3. Refrigerators
                           4.4.3.1. Market estimates and forecasts 2021 to 2033
                       4.4.4. Consumables
                           4.4.4.1. Market estimates and forecasts 2021 to 2033
                           4.4.4.2. Vials
                               4.4.4.2.1. Market estimates and forecasts 2021 to 2033
                           4.4.4.3. Straws
                               4.4.4.3.1. Market estimates and forecasts 2021 to 2033
                           4.4.4.4. Microtiter
                               4.4.4.4.1. Market estimates and forecasts 2021 to 2033
                           4.4.4.5. Bags
                               4.4.4.5.1. Market estimates and forecasts 2021 to 2033
                       4.4.5. Liquid Nitrogen
                           4.4.5.1. Market estimates and forecasts 2021 to 2033
                   4.5. Media
                       4.5.1. Market estimates and forecasts 2021 to 2033
                       4.5.2. Pre-formulated
                           4.5.2.1. Market estimates and forecasts 2021 to 2033
                       4.5.3. Home-brew
                           4.5.3.1. Market estimates and forecasts 2021 to 2033
                   4.6. Laboratory Information Management System (LIMS)
                       4.6.1. Market estimates and forecasts 2021 to 2033
Chapter 5. U.S. Biopreservation Market: Application Estimates & Trend Analysis
                   5.1. U.S. Biopreservation Market: Application Dashboard
                   5.2. U.S. Biopreservation Market: Application Movement Analysis
                   5.3. U.S. Biopreservation Market Size & Forecasts and Trend Analyses, 2018 to 2030 for the following
                   5.4. Regenerative Medicine
                       5.4.1. Market estimates and forecasts 2021 to 2033
                       5.4.2. Cell Therapy
                           5.4.2.1. Market estimates and forecasts 2021 to 2033
                       5.4.3. Gene Therapy
                           5.4.3.1. Market estimates and forecasts 2021 to 2033
                       5.4.4. Others
                           5.4.4.1. Market estimates and forecasts 2021 to 2033
                   5.5. Biobanking
                       5.5.1. Market estimates and forecasts 2021 to 2033
                       5.5.2. Human eggs
                           5.5.2.1. Market estimates and forecasts 2021 to 2033
                       5.5.3. Human sperm
                           5.5.3.1. Market estimates and forecasts 2021 to 2033
                       5.5.4. Veterinary IVF
                           5.5.4.1. Market estimates and forecasts 2021 to 2033
                   5.6. Drug Discovery
                       5.6.1. Market estimates and forecasts 2021 to 2033
Chapter 6. Competitive Landscape
                   6.1. Recent Developments & Impact Analysis, By Key Market Participants
                   6.2. Company/Competition Categorization
                   6.3. Vendor Landscape
                       6.3.1. List of key distributors and channel partners
                       6.3.2. Key customers
                       6.3.3. Key company market share analysis, 2023
                       6.3.4. Azenta US, Inc.
                           6.3.4.1. Company overview
                           6.3.4.2. Financial performance
                           6.3.4.3. Product benchmarking
                           6.3.4.4. Strategic initiatives
                       6.3.5. Biomatrica, Inc.
                           6.3.5.1. Company overview
                           6.3.5.2. Financial performance
                           6.3.5.3. Product benchmarking
                           6.3.5.4. Strategic initiatives
                       6.3.6. BioLife Solutions Inc.
                           6.3.6.1. Company overview
                           6.3.6.2. Financial performance
                           6.3.6.3. Product benchmarking
                           6.3.6.4. Strategic initiatives
                       6.3.7. MVE Biological Solutions
                           6.3.7.1. Company overview
                           6.3.7.2. Financial performance
                           6.3.7.3. Product benchmarking
                           6.3.7.4. Strategic initiatives
                       6.3.8. LabVantage Solutions, Inc.
                           6.3.8.1. Company overview
                           6.3.8.2. Financial performance
                           6.3.8.3. Product benchmarking
                           6.3.8.4. Strategic initiatives
                       6.3.9. Taylor-Wharton
                           6.3.9.1. Company overview
                           6.3.9.2. Financial performance
                           6.3.9.3. Product benchmarking
                           6.3.9.4. Strategic initiatives
                       6.3.10. Thermo Fisher Scientific, Inc.
                           6.3.10.1. Company overview
                           6.3.10.2. Financial performance
                           6.3.10.3. Product benchmarking
                           6.3.10.4. Strategic initiatives
                       6.3.11. Panasonic Corporation
                           6.3.11.1. Company overview
                           6.3.11.2. Financial performance
                           6.3.11.3. Product benchmarking
                           6.3.11.4. Strategic initiatives
                       6.3.12. X-Therma Inc.
                           6.3.12.1. Company overview
                           6.3.12.2. Financial performance
                           6.3.12.3. Product benchmarking
                           6.3.12.4. Strategic initiatives
                       6.3.13. PrincetonCryo
                           6.3.13.1. Company overview
                           6.3.13.2. Financial performance
                           6.3.13.3. Product benchmarking
                           6.3.13.4. Strategic initiatives
                       6.3.14. BioCision LLC
                           6.3.14.1. Company overview
                           6.3.14.2. Financial performance
                           6.3.14.3. Product benchmarking
                           6.3.14.4. Strategic initiatives
                       6.3.15. Lifeline Scientific Inc.
                           6.3.15.1. Company overview
                           6.3.15.2. Financial performance
                           6.3.15.3. Product benchmarking
                           6.3.15.4. Strategic initiatives
                       6.3.16. Merck KGaA
                           6.3.16.1. Company overview
                           6.3.16.2. Financial performance
                           6.3.16.3. Product benchmarking
                           6.3.16.4. Strategic initiatives
                       6.3.17. VWR International, LLC
                           6.3.17.1. Company overview
                           6.3.17.2. Financial performance
                           6.3.17.3. Product benchmarking
                           6.3.17.4. Strategic initiatives

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