A Look into Biopreservation Industry……Deep Analysis…..



The global biopreservation market size is expected to reach USD 8.93 billion by 2022, according to a new report by Grand View Research, Inc., exhibiting a 17.3% CAGR during the forecast period. Rising demand for advanced preservation methods and constantly increasing healthcare spending is anticipated to fuel growth potential in future. Hospitals, pharmaceutical companies, and biotechnology firms are increasingly adopting systems for in-house storage of samples and this is anticipated to provide a significant boost to the market. Surging R&D investments by major companies and research communities striving to improve product development capabilities is also presenting the market with immense potential.
Biopharmaceutical innovators are at the forefront of the human response to the coronavirus pandemic. A significant number of major biotech firms are in the midst of a race to investigate the Sars-Cov-2 genome and prepare a viable vaccine for the same. As compared to the speed of response to SARS/MERs etc, the biotech entities are investigating SARs-Cov-2 at an unprecedented rate and a considerable amount of funds are being put into the R&D. With multiple candidates in trial, the public and private sectors are anticipated to work in unison for the foreseeable period, until a vaccine is developed for Covid-19. The report will account for Covid19 as a key market contributor.
Technological advancements such as advent of virtual bio-banks, which is predicted to witness a significant upsurge in the application, is also resulting in market progression. In addition, increasing preference for maintaining repositories for biological specimens, for application in organ transplantation and regenerative medicine, has benefited the market. Presence of government initiatives such as International Society of Biological and Environmental Repositories to enhance bio-banking and preservation standards and practices is also broadening the scope for growth over the coming years.
The market is highly competitive, characterized by deployment of sustainability strategies by prominent players such as BioLife Solutions Inc.; BioCision; Biomatrica; and Chart MVE Biomedical. These companies have been focused on strategies such as geographical expansion, new product development initiatives, and mergers and acquisitions to gain competitive advantage. The market is highly competitive, characterized by deployment of sustainability strategies by prominent players such as BioLife Solutions Inc.; BioCision; Biomatrica; and Chart MVE Biomedical. These companies have been focused on strategies such as geographical expansion, new product development initiatives, and mergers and acquisitions to gain competitive advantage.
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https://www.grandviewresearch.com/industry-analysis/biopreservation-market/request/rs1
The global biopreservation market size was estimated at USD 3.53 billion in 2016 and is anticipated to expand at a CAGR of 17.3% during the forecast period. Growing healthcare expenditure is a significant growth contributing factor for this market. This upsurge in healthcare spending is a consequence of rapid economic development across the globe. 
Further key findings from the report suggest:
·         In 2014, equipment captured the dominant share by product owing to growing demand from bio-banks. High preservation costs of biological specimens has also benefited this segment
·         The media segment, on the other hand, is predicted to witness exponential CAGR during the coming years as a result of wide adoption in regenerative medicine
·         In 2014, bio-banking captured a substantial share in terms of application owing to growing number of tissue and organ transplantations and high awareness levels with respect to bio-banking
·         Regenerative medicine, on the other hand, is anticipated to register the highest CAGR owing to major investments by public and private healthcare organizations in research focused on restorative therapy
·         By cell provider, tumor cells captured the largest share in terms of volume in 2014, as a consequence of extensive application in R&D and treatment of cancers with high prevalence
·         In 2014, North America accounted for the largest share in the biopreservation market, which can be attributed to existing government regulations supporting extensive usage of biological samples in regenerative medicine
·         Asia Pacific is anticipated to observe exponential growth throughout the forecast period owing to unmet clinical needs in the region, coupled with continued infrastructure upgradation
·         Key market players are involved in deploying extensive strategies such as new product development, mergers, and acquisitions to gain competitive edge over other players.
Increase in healthcare expenditure further is predicted to improve access to quality healthcare and advanced products, which include biopreservation facilities, thereby broadening growth prospects. In addition, hospitals, gene banks, and bio-banks, which are significant end-users for this market, are encouraging major players to develop technologically advanced biopreservation products to enhance patient outcomes.
Presence of government healthcare initiatives that provide funds, grants, and contracts for research have resulted in providing expedited growth to R&D activities deployed by various companies. This has, in turn, resulted in widening the scope for adoption of advanced bio-preservation services, which is anticipated to fuel penetration rate throughout the forecast period.
Technological advancements in biopreservation processes are also major growth contributing factors to the market. Advancements include change in formulation of hypothermic storage solutions, next-generation cryopreservation solutions, and design and integration with nanoscale technologies. These technological upgradations have led to long-term preservation and banking of complex organs and tissues of high importance in regenerative medicine and organ transplantation.
Increasing R&D investments by companies and research communities to enhance their capabilities and render efficient products and services is predicted to further expand growth prospects. For instance, the establishment of Cooperative Human Tissue Network (CHTN), which addressed the operational dimension of bio-banking, exemplifies consistent efforts by the research community.
Browse Press Release of this report:
https://www.grandviewresearch.com/press-release/global-biopreservation-market-analysis
Grand View Research has segmented the global biopreservation market on the basis of product, application, cell provider, and region:
Biopreservation Product Outlook (Revenue, USD Million, 2012 - 2022)
·         Equipment
o    Freezers
o    Refrigerators
o    Consumables
o  Vials
o  Straws
o  Microtiter Plates
o  Bags
o    Liquid Nitrogen
·         Media
o    Pre-formulated
o    Home-brew
·         Laboratory Information Management System (LIMS)
Biopreservation Application Outlook (Revenue, USD Million, 2012 - 2022)
·         Regenerative Medicine
o    Cell Therapy
o    Gene Therapy
o    Others
·         Bio-banking
o    Human Eggs
o    Human Sperm
o    Veterinary IVF
·         Drug Discovery
Biopreservation Cell Provider Outlook (Volume, 000’ Units, 2012 - 2022)
·         CD34+
·         CD19+
·         MSC
·         iPSC
·         hESC
·         Tumor Cells
·         Others
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.




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