Biopreservation Market to Reach Market Valuation of USD 20.54 Billion by 2031 | SkyQuest Technology
Biopreservation Market size was valued at USD 2.18 billion in 2022 and is poised to grow from USD 2.80 billion in 2023 to USD 20.54 billion by 2031, growing at a CAGR of 28.30% during the forecast period (2024-2031)
Westford, USA, Oct. 16, 2024 (GLOBE NEWSWIRE) — SkyQuest projects that the Global Biopreservation Market will reach a value of USD 20.54 Billion by 2031, with a CAGR of 28.30% during the forecast period (2024-2031). Biopreservation market comprises the use of controlled or natural microbiota and by-products to improve the safety and shelf-life of pharmaceuticals and food. The market is driven by growing food safety concerns, a shift towards clean-labeled products, and rising demand for natural preservatives. Moreover, heavy investments in R&D and improvements in biotechnology are notably impacting the growth of the market.
Browse in-depth TOC on the “Biopreservation Market”
Pages – 219
Tables – 63
Figures – 75
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Biopreservation Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | USD 2.80 Billion |
| Estimated Value by 2031 | USD 20.54 Billion |
| Growth Rate | Poised to grow at a CAGR of 28.30% |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product, Application, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, Middle East & Africa, Latin America |
| Report Highlights | Growing number of patent filings by major market players |
| Key Market Opportunities | Growth of Vaccination Technologies and Innovative Biologics |
| Key Market Drivers | Improvements in Biopreservation Applications |
Biopreservation Market Segmental Analysis
The global biopreservation market is segmented based on product, application, and region.
In terms of product, the market is segmented into equipment, media, and laboratory information management system (LIMS).
Based on application, the market is segmented into regenerative medicine, bio-banking, drug discovery.
Region wise, the global biopreservation market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Equipment Segment to Dominate Market Owing to Notable Advancements and Demand for Automation
By product, the equipment segment registered major share of the Biopreservation market in 2023 and is projected to lead over the estimated period as well owing to advancements in technologies like improved monitoring systems, and rising demand for automation. Improvements in preservation techniques like advanced refrigeration and monitoring solutions enhance reliability and efficacy of biopreservation techniques. Moreover, the rising demand for automation in pharmaceutical production and food processing is increasing the need for maintaining product safety and integrity, thus the segment’s growth.
On the other hand, the media segment is expected to grow at a considerable rate owing to its importance in microbial growth and better customization offered. Biopreservation is mostly dependent on certain media to aid the growth of healthy microorganisms, increasing its importance in preservation techniques. Moreover, improvements in media formulation enable customized solutions that improve biopreservation’s efficacy, catering to unique preservation needs and food types, thus impacting segmental growth.
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Heavy Demand for Biological Specimens and Research Improvements to Drive Bio-Banking Segment
By application, the bio-banking segment led the Biopreservation market in 2023 and is expected to continue dominating in future as well owing to the rising focus on genomics and personalized medicine. This ultimately increases the demand for prolonged storage of diverse biological samples, impacting the growth of bio-banking segment. Also, growth of research in diagnostics, pharmaceuticals, and biotechnology depends majorly on bio-banked samples, propelling their demand.
Nonetheless, the regenerative medicine segment is expected to grow at a faster pace owing to the growing demand for stem cell therapy and improvements in biotechnology. The rising emphasis on stem cell therapies and research increased the demand for efficient and reliable preservation methods to maintain functionality and viability. Also, developments in regenerative medicines like gene therapy and tissue engineering need effective biopreservation techniques for better integrity of biological elements.
Increased Awareness for Advantages of Natural Biopreservatives to Fuel Market in North America
Geographically, North America held a majority share in 2023 and will continue to dominate in the future as well owing to strong R&D and increased consumer awareness. North America holds a strong research and development infrastructure and key investments in pharmaceutical and biotechnology research. This ultimately drives the demand for reliable biopreservation techniques. Also, rising consumer awareness for the benefits of natural preservatives and food safety is driving the need for biopreservation in the food sector.
Asia-Pacific is projected to grow as the fastest growing region owing to the speedy economic growth and growing concerns for food safety. The region’s progressing economies are fueling the demand for healthcare products and processed foods. This fuels the demand for reliable and effective biopreservation techniques. Also, rising food safety concerns coupled with regulatory initiatives are driving the adoption of biopreservation methods in the food sector. Regional growth is also impacted by the growth of biotechnology and pharmaceutical industry in China and India.
Biopreservation Market Insight
Drivers:
- Growing Demand for Natural Preservatives
- Rising Food Safety Concerns
- Innovations in Microbiology and Biotechnology
Restraints:
- Low Consumer Awareness for Biopreservation Techniques
- Significant Development Costs of Biopreservation Methods
- Fluctuations in Efficiency
Top Player’s Company Profiles in Biopreservation Market
- Thermo Fisher Scientific Inc.
- Merck KGaA
- BioLife Solutions, Inc.
- GE Healthcare
- VWR International LLC
- Custom Biogenic Systems, Inc.
- Chart Industries, Inc.
- BioCision LLC
- STEMCELL Technologies Inc.
- Cesca Therapeutics Inc.
- Core Dynamics Ltd.
- Panasonic Healthcare Co., Ltd.
- Avantor, Inc.
- Lonza Group Ltd.
- Brooks Automation, Inc.
- BioStorage Technologies, Inc.
- LabVantage Solutions, Inc.
- Atlanta Biologicals, Inc.
- Hamilton Company
- So-Low Environmental Equipment Co.
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Key Questions Answered in Global Biopreservation Market Report
- What is the projected growth size of the Global Biopreservation Market, according to SkyQuest Technology?
- Which segment is leading by application in the Biopreservation Market, and why?
- What are the commonly adopted growth strategies by the leading players in the Biopreservation Market?
This report provides the following insights:
Analysis of key drivers (growing sustainability trends, rise of processed food sector, rising pharmaceutical applications), restraints (limitations in shelf-life, heavy competition from synthetic preservatives, regulatory challenges), opportunities (growing demand for clean-labelled products, advances in biopreservation methods, integration with food processing), and challenges (sceptical consumer acceptance, issues in supply chains, poor research funding) influencing the growth of biopreservation market
- Market Penetration: Comprehensive information on the product portfolios offered by the top players in the biopreservation market
- Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the biopreservation market
- Market Development: Comprehensive information on lucrative emerging regions
- Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the market
- Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.
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