Global Biopreservation Market 2024-2031

Biopreservation Market Size, Share & Trends Analysis Report by Product (Equipment, Media and Solution), and by Application (Regenerative Medicine, Biobanking, and Drug Discovery) Forecast Period (2024-2031)

Biopreservation market is anticipated to grow at a CAGR of 15.17% during the forecast period (2024-2031). Biopreservation is a process that extends the life of biological products such as stem cells, DNA, tissues, and organs-outside of their normal habitat by preserving their integrity and functionality at varying temperatures.

Market Dynamics

Fertility Preservation in Female Cancer Patients: The Essential Role of Cryopreservation

Female cancer patients often face a harrowing dilemma Though vital for their survival, life-sustaining therapies such as radiation and chemotherapy can seriously impair their ability to conceive. According to Globocan's 2022 projections indicate that by 2050, there will be over 55% more women globally than in 2022-503,448-with ovarian cancer diagnoses. Additionally, the number of women who die from ovarian cancer annually is expected to rise to 350,956, an almost 70% increase from 2022. The five-year survival rates for ovarian cancer vary by country, with more developed nations currently having rates between 36% and 46%. Fortunately, advances in cryopreservation offer a ray of hope, enabling patients to protect their ability to procreate. Techniques like oocyte cryopreservation, where unfertilized eggs are frozen and stored, offer a valuable option. With advancements in vitrification (rapid freezing), this approach boasts high success rates in preserving egg viability after thawing. Additionally, for women in partnerships, embryo cryopreservation allows the freezing of fertilized eggs, creating a future potential for pregnancy through implantation. The potential for parenthood may not be immediate, but cryopreservation offers a beacon of hope, allowing female cancer patients to prioritize their health while preserving the possibility of building a family in the future.

Beyond Blood Cancer: A Broader View of Biopreservation Drivers

The need for biopreservation is driven by a variety of factors, not only the rising incidence of blood cancer, which is a major public health concern. Developments in cell-based therapies, such as CAR T-cell therapy for different cancers, require effective cell preservation throughout treatment, making biopreservation essential for preserving cell viability and functionality for future use. According to Leukemia and lymphoma society a new case of leukemia, lymphoma, or myeloma is expected to account for 9.4% of the estimated 1,958,310 new cancer cases that will be diagnosed in the US in 2023. Approximately every three minutes, someone in the US is diagnosed with one of these three diseases. In all, 184,720 people in the US are expected to receive a diagnosis of leukemia, lymphoma, or myeloma in 2023. Personalized medicine is becoming more and more popular, which also drives the need for biopreservation, it enables researchers and clinicians to store and use patient-specific cells for customized treatments. Moreover, the growing burden of chronic diseases beyond blood cancer drives the need for biopreservation in a variety of research fields.

Market Segmentation

Our in-depth analysis of the global biopreservation market includes the following segments by type and by application:

• Based by Product, the market is sub-segmented into equipment, media and solution (laboratory information management system).
• Based on application the market is augmented into regenerative medicine, biobanking and drug discovery.

Equipment for bio preservation emerges as the fastest growing Sub-segment

The bio preservation market depends heavily on specialized equipment to achieve the successful preservation of biological materials. According to World Health Organization has estimated that less than 10% of the world's organ transplant demand is met, and the COVID-19 pandemic has made the supply-demand imbalance for human organs even worse. A major contributing factor to the organ shortage is the short safe storage period of 4-36 hours for donated organs, which results in a significant number of healthy organs being discarded after exceeding the preservation time. This includes ultra-low temperature freezers, refrigerators, specialized consumables (like cryovials and cryobags), and liquid nitrogen technologies. These tools are essential for maintaining the viability and functionality of cells, tissues, and biospecimens, ensuring their suitability for a range of applications in research, drug development, and personalized medicine.

Military Aviation Holds a Considerable Market Share

The biopreservation market holds a significant and rapidly growing share within the life sciences industry. According to Bioeconomy Report in July 2022, outlining the expansion of the biotechnology industry and its various applications. The report projects that the biotechnology sector might reach a potential market value of US$300 billion by 2030. Moreover, the global biobanking market is projected to grow to $69 Billion by 2028. This flourishing market is fueled by various factors, including the rising prevalence of chronic diseases necessitating sample preservation for research, advancements in biobanking leading to increased demand for effective solutions, and the surge in R&D activities within pharmaceutical and biotech companies requiring well-preserved samples. Furthermore, continuous advancements in biopreservation technologies, encompassing novel biocompatible preservatives and improved cryopreservation methods, are further propelling market growth. As the demand for well-preserved biological samples continues to rise and biopreservation technologies evolve, this market segment is poised to play an increasingly critical role in driving scientific breakthroughs and transforming healthcare in the years to come.

Regional Outlook

The global Biopreservation market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia), and the Rest of the World (the Middle East & Africa, and Latin America).

North America: A Leader in the Biopreservation Market

• Strong Foundation in Biomedical Research: The United States boasts a long and distinguished history in biomedical research, fostering an environment conducive to the development and adoption of advanced biopreservation technologies. According to National Center for Science and Engineering Statistics R&D expenditures in the year 2022 biological and biomedical sciences ($18.2 billion total, $1.6 billion increase from year 2021).
• As the number of cancer patients in the US rises, there will be a greater need for biopreservation. According to The American Cancer Society projects that in 2023, almost 1.9 million people will receive a cancer diagnosis. Numerous patients may require blood transfusions on a regular basis while undergoing chemotherapy.

Global Biopreservation Market Growth by Region 2024-2031

Source: OMR Analysis

Biopreservation Booms in Asia Pacific: Expanding Biobanks and Technological Advancements Drive Market Growth

The Asia Pacific region is experiencing a surge in biopreservation adoption, driven by two key factors. First, the need is being driven by growing biobanking activities. The preservation of biological samples for diverse research objectives is required by government backing, such as India's the Rashtriya Gokul Mission (RGM) has been undertaken to develop and conserve indigenous bovine breeds India targets to achieve artificial inseminations 110 million in 2023 of livestock and to spend US$ 292.54 million from year 2021 to 2026 to improve milk production in India and the region's developing life sciences sector with its increasing R&D spending. Second, cost-effectiveness and technology improvements are quite important. These technologies are becoming more widely available thanks to emerging biopreservation techniques that provide prolonged sample viability and cost-competitive alternatives from Asian businesses. For instance, The Tokyo metropolitan government will provide up to ¥300,000 in incentives to women who want to cryopreserve their eggs in anticipation of future pregnancies and deliveries. The women will complete questionnaires from the metropolitan government during the April-March fiscal year in which the cryopreservation of eggs takes place, answering questions about why they chose to freeze their eggs in exchange for a maximum payout of ¥200,000. They will then get ¥20,000 when they reply to surveys regarding the cryopreservation status of the eggs in each of the ensuing fiscal years, for a maximum of five years. These elements are anticipated to hasten the biopreservation industry's acceptance in the Asia Pacific area, together with the region's expanding emphasis on personalized treatment.

Market Players Outlook

Note: Major Players Sorted in No Particular Order.

The major companies serving the global Biopreservation market include Azenta US, Inc, BioLife Solutions Inc, Merck KGaA, ThermoGenesis Holdings, Inc. and VWR International LLC among others. The market players are increasingly focusing on business expansion and product development by applying strategies such as collaborations, mergers, and acquisitions to stay competitive in the market. For instance, in February 2022, Merck, announced the closing of the transaction to acquire Exelead, for roughly USD 780 million in cash, subject to regulatory clearances and the satisfaction of other usual closing requirements. Merck's Life Science business segment should be able to offer its clients full end-to-end contract development and manufacturing organization (CDMO) services along the mRNA value chain as a result of the company combination. Over the next ten years, Merck intends to invest an additional €500 million to scale up Exelead's technology. This will help to expand end-to-end services across mRNA value chain.

The Report Covers:

• Market value data analysis of 2023 and forecast to 2031.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global Biopreservation market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying 'who-stands-where' in the market.