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Biopreservation Market Future Challenges and Industry Growth Outlook by 2020-2024

Author : Ronak Bora | Published Date : 2020-09-21 

Biopreservation Market report offers in-depth analysis of the industry size, share, major segments, and different geographic regions, forecast for the next five years, key market players, and premium industry trends. It also focuses on the key drivers, restraints, opportunities and industry challenges.

Companies have been pouring in substantial capital in research & development activities across the globe, which is likely to boost the biopreservation business growth over the forthcoming time period. Rising number of initiatives undertaken by private companies and the research community are expected to bring about a spate of innovations in the biopreservation domain. There has been a consistent rise in the deployment of biological laboratory specimens in numerous research and clinical trials. Alongside, rising prevalence of lifestyle disorders in developed and developing countries will positively influence the market growth.

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As per a research report by GMI, biopreservation market is estimated to exceed $9.5 billion valuation by 2024.   

Extensive investment in R&D activities globally, considerable efforts of companies and research organizations to develop effective and efficient products and services will encourage widespread adoption of the technology. The prevalence of erratic lifestyle and organ deformities along with a shortage of organ donors for transplantation in various developing as well as developed countries will escalate the demand for regenerative medicine in the coming years.

Also, the rising demand for biopreservation equipment is due to the growing necessity for appropriate storage and preservation of biological preparations. On the other hand, strict government regulations concerning controlled manufacturing of biopreservation devices and issues associated with temperature maintenance may slow down product evolution.

The escalating usage of media in biopreservation procedure to upgrade post-thaw cell viability, yield and recovery are recognized as the prime factor boosting the segment growth. The media segment was estimated at US$500 million in 2017 and is projected to observe substantial expansion through 2024. Additionally, rising demand for pre-formulated and home-brew biopreservation media will aid in expanding the segment size.

The escalating adoption of human tissues and stem cell models as experimental prototypes for diagnosing drug development will propel the demand for preservation and safe storage of these biologics. On account of extensive investment in R&D activities to develop an effective treatment for chronic disease, biopreservation industry share from the drug discovery segment will witness 13.5% CAGR through 2024.

In patients with type 2 diabetes mellitus, the CD34+ cells from umbilical cord blood (UCD) can be used in the treatment of non-healing and severe wounds. The resounding benefits associated with CD34+ will further foster the revenue size in the coming years. Due to widespread application in research and the ability to differentiate into various cell types, the CD34+ cell segment in the market was estimated to reach 16% of the revenue share in 2017.

The widespread acceptance of regenerative medicine in medical treatment along with technological advancement in the U.S. will escalate the demand for biopreservation products in the region. Reportedly, the U.S. biopreservation market was pegged at US$1.6 billion in 2017 and is projected to experience a similar revenue trend through 2024. Also, considerable healthcare expenditure and the advancement of healthcare infrastructure will open new business opportunities and provide a sustainable market environment.

Notable providers of biopreservation products and services globally are VWR International, Chart MVE Biomedical, Taylor-Wharton Cryogenics, Thermo Fisher Scientific, BioLife Solutions, Custom Biogenic Systems Atlanta Biologics, LabVantage Solutions, Qiagen, Panasonic Biomedical, Biomatrica, and BioCision. These companies are majorly following strategies such as acquisition, merger, partnership, and holistic development of novel products to consolidate their product portfolio and establish a better market position. 

Browse full table of contents (TOC) of this report @ https://www.gminsights.com/toc/detail/biopreservation-market

Partial Chapter of the Table of Content 

Chapter 3. Biopreservation Industry Insights

3.1. Industry segmentation

3.2. Industry landscape, 2013 - 2024

3.3. Industry impact forces

3.3.1.  Growth drivers

3.3.1.1.  Increasing investment in R&D

3.3.1.2.  Rising healthcare expenditure

3.3.1.3.  Advancement in biopreservation applications

3.3.1.4.  Growing demand for regenerative medicine owing to rising prevalence of lifestyle diseases

3.3.2.  Industry pitfalls and challenges

3.3.2.1.  Emergence of room temperature storage technology

3.3.2.2.  Stringent regulations pertaining to biopreservation

3.4. Growth potential analysis

3.4.1.  By product

3.4.2.  By application

3.4.3.  By cell provider

3.5. Porter’s analysis

3.6. Competitive landscape, 2017

3.6.1.  Strategy dashboard

3.7. PESTEL analysis

Chapter 4. Biopreservation Market, By Product

4.1. Key segment trends

4.2. Equipment 

4.2.1.  Market size, by region, 2013-2024 (USD Million)

4.2.2.  Freezers

4.2.2.1. Market size, by region, 2013-2024 (USD Million)

4.2.3.  Refrigerators

4.2.3.1.    Market size, by region, 2013-2024 (USD Million)

4.2.4.  Consumables

4.2.4.1. Market size, by region, 2013-2024 (USD Million)

4.2.4.2.    Vials

4.2.4.2.1. Market size, by region, 2013-2024 (USD Million)

4.2.4.3. Straws

4.2.4.3.1. Market size, by region, 2013-2024 (USD Million)

4.2.4.4. Access products

4.2.4.4.1. Market size, by region, 2013-2024 (USD Million)

4.2.4.5. Concentrates

4.2.4.5.1. Market size, by region, 2013-2024 (USD Million)

4.2.5.  Liquid nitrogen

4.2.5.1. Market size, by region, 2013-2024 (USD Million)

4.3. Media

4.3.1.  Market size, by region, 2013-2024 (USD Million)

4.4. Laboratory information management system (LIMS)

4.4.1.  Market size, by region, 2013-2024 (USD Million)

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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