Biopreservation Market size to grow by USD 2.40 billion from 2022 to 2027 | The growing demand for personalized medicine drives the market - Technavio

NEW YORK, Aug. 18, 2023 /PRNewswire/ -- The biopreservation market size is to increase by USD 2,406.21 million from 2022 to 2027, at a CAGR of 15.88%, according to the recent market study by Technavio. The growth of the market will be driven by the growing demand for personalized medicine, the increasing number of biobanks, and the rise in the prevalence of chronic diseases worldwide. Charts & data tables about market and segment sizes for a historic period of five (2017-2021) years have been covered in this report. Download The Sample Report

Technavio has extensively analyzed 15 major vendors, including AMS Biotechnology Europe Ltd., ARCTIKO AS, Avantor Inc., Bio-Techne Corp., BioLife Solutions Inc., Chart Industries Inc., Exact Sciences Corp., IC Biomedical LLC, Merck KGaA, NIPPON Genetics EUROPE GmbH, OPS Diagnostics LLC, PHC Holdings Corp., QIAGEN NV, Shanghai Genext Medical Technology Co. Ltd., So Low Environmental Equipment Co. Inc., STEMCELL Technologies Inc., Thermo Fisher Scientific Inc., ThermoGenesis Holdings Inc., Thomas Scientific LLC, and Trane Technologies Plc.

Key Benefits for Industry Players & Stakeholders – 

• The report offers information on the criticality of vendor inputs, including R&D, CAPEX, and technology.
• It also provides detailed analyses of the market's competitive landscape and vendors' product offerings.
• The report also provides a qualitative and quantitative analysis of vendors to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.

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Customer Landscape - Analysis of Price Sensitivity, Adoption Lifecycle, Customer Purchase Basket, Adoption Rates, and Purchase Criteria by Technavio

• One of the core components of the customer landscape is price sensitivity, an analysis of which will help companies refine marketing strategies to gain a competitive advantage. 
• Another key aspect is price sensitivity drivers (purchases are undifferentiated, the purchase is a key cost to buyers, and quality is not important), which range between LOW and HIGH.
• Furthermore, market adoption rates for all regions have been covered.

Get a holistic overview of the biopreservation market by industry experts to evaluate and develop growth strategies. Download the Sample

Biopreservation Market - Segmentation Assessment

The market is segmented by end-user (Life sciences and healthcare facilities, Research laboratories, and Others),  application (Biobanks, Regenerative medicine, and Drug discovery), and geography (North America, Asia, Europe, and Rest of World (ROW))

• The life science and healthcare facilities segment is estimated to witness significant growth during the forecast period. The increasing global prevalence of obesity and chronic illnesses is a key driver for the growth of the life sciences and healthcare facilities sector. The escalating count of patients grappling with chronic conditions such as heart diseases, diabetes, and degenerative nerve, bone, and joint disorders is propelling the need for biopreservation in this sector. Furthermore, the significant shortage of organ donors for transplantation is spurring the global demand for regenerative medicine, subsequently fueling the requirement for biopreservation. This trend is expected to directly propel the expansion of the life sciences and healthcare facilities segment within the global biopreservation market during the forecast period. 

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Market Dynamics

Driver 

The growing demand for personalized medicine is driving market growth. The substantial, unmet medical necessity to create effective therapies for various illnesses and conditions has stimulated the request for personalized medicine, consequently spurring the necessity for biopreservation. Market participants could potentially find themselves in a transformative position within this context. Personalized medicine refers to treatments tailored to individual needs and preferences. More and more individuals are preserving their tissues and stem cells for potential future treatments. The availability of personal samples, along with annotated clinical and pathological data, is a crucial prerequisite for personalized medicine. Research institutions are currently investigating the potential of utilizing biosamples to develop customized treatments. Biobanking, a form of biopreservation, assumes a significant role in personalized medicine and genomic research. As a result, the increasing requirement for personalized medicine will stoke the global demand for biopreservation, consequently propelling market expansion.

Trend - The emergence of stem cell storage in biobanks is a primary trend in the biopreservation market. 

Challenge - Ethical issues are a major challenge hindering market growth.

What are the key data covered in this Biopreservation Market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the biopreservation market  between 2023 and 2027
• Precise estimation of the biopreservation market  size and its contribution to the market in focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behaviour
• Growth of the biopreservation market across North America, Asia, Europe, and the Rest of the World (ROW)
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of the biopreservation market vendors

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Table of contents

Executive Summary

Market Landscape

Market Sizing

Historic Market Size

Five Forces Analysis

Market Segmentation by End-user

Market Segmentation by Application

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, and Trends

Vendor Landscape

Vendor Analysis

Appendix

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