Biopreservation Market Growing at a CAGR 14% From 2021 to 2027 - Exclusive Report by UnivDatos Market Insights
The demand for biopreservation is witnessing an uptick on account of the increasing demand for conserving cord blood stem cells of newborns, rising investments in regenerative medicine research, and growing advancements in biobanking across the globe. For instance, in June 2021, the New Genetic Biobank will hold the key to preventing Sudden Infant Death Syndrome (SIDS), potentially saving the lives of hundreds of babies who die from the devastating condition each year.
Furthermore, the increasing acceptance of in-vitro fertilization for the conservation of at-risk species resulting in a need for the preservation of different samples is a leading factor contributing to the growth of the market of biopreservation. In 2019, the international crop research for the semi-arid tropics (ICRISAT) inaugurated a Hyderabad gene bank, which is entirely powered by solar energy. The facility can address the food problems in tropical and semi-arid countries in Asia and Africa. Gene banks can help preserve the gene diversity in crops, which can help the farmers protect plants from climate change, pests and insects, and diseases.
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The Covid-19 pandemic had created a major economic impact on almost all the sectors, including biopreservation. The biopreservation market has shown a positive impact during Covid-19. As to run successful and effective Covid-19 immunization campaigns, the governments and organizations around the world need to ensure a reliable vaccine cold chain for safe storage and transport of vaccines is set up to protect the doses from temperature variations that could result in losing their potency. For instance, B Medical Systems, a global leader in vaccine cold chain solutions and a manufacturer of medical refrigeration equipment has been supporting governments, health institutions, and NGOs around the globe to ensure that the Covid-19 vaccine doses are safely stored at the right temperatures and are transported in reliable transport boxes until the last mile.
?According to UnivDatos Market Insights (UMI)’ research report “Global Biopreservation Market, 2020”, the global biopreservation market is projected to grow at a CAGR of XX% during 2021-27F. The increasing mergers, acquisitions, and collaborations between key industry players across the world are surging the demand. For Instance, in October 2019, ThermoGenesis Holdings, Inc. entered into a definitive joint venture agreement with HealthBanks Biotech (USA) Inc., a stem cell bank network, to commercialize its proprietary cell processing platform, CAR-TXpress, for use in immune cell banking as well as for cell-based contract development and manufacturing services.
Based on biospecimen, the stem cells segment accounted for major share in 2020, credited to the augmenting awareness of people about conserving cord blood stem cells of newborns to treat chronic diseases like cancer and others. For instance, in January 2020, a brand-new service, unique to Cells4Life, placenta banking was launched. This ground-breaking offering gives parents-to-be the chance to bank amnion and chorionic villi cells from their placenta, giving them exclusive access to a further two sources of powerful perinatal cells alongside cord blood and cord tissue at birth.
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Biobank to Witness Robust growth
Based on end-user, the biobanks segment ruled the market and accounted for the maximum share in 2020 due to the increasing demand for conserving biospecimens, tissues, organs, and stem cells for various research purposes. For instance, in May 2021, the International Society for Biological and Environmental Repositories (ISBER), announced that the Australian company?Bluechiip’s BoxTracker has won the 2021 Outstanding New Product Award. The Bluechiip BoxTracker and accompanying Handheld Reader are part of Bluechiip’s Advanced Sample Management Solution. It track and monitor samples being handled outside long-term storage, recording, and linking sample identification to time and technician, while continually monitoring temperature at the cryobox level during critical transport and handling.
North America to Grab Lion’s Share, and witness Explicit Growth
Based on the analysis, North America dominated the Global Biopreservation Market in 2020. The region is projected to maintain its dominance during the forecasted period, credited to high government funding, robust personal healthcare spending, developed awareness programs, rapid acceptance of new analytical techniques. In addition, the prevalence of chronic diseases such as Cancer, Cardiovascular diseases, diabetes, including Covid-19 is boosting the biopreservation market. According to the World Health Organization, an estimated 17.9 million people died from CVDs in 2019, representing 32% of all global deaths. Of these deaths, 85% were due to heart attack and stroke. The increasing burden of chronic diseases affects individuals and their families at schools, workplaces, neighborhoods, cities, and skyrockets the demand for nutrigenomics acceptance across the globe, as stated in UnivDatos Market Insights (UMI)’ research report “Global Biopreservation Market Analysis, 2020”.?
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According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the Global Biopreservation Market are Thermo Fisher Scientific Inc., Merck KGaA, ThermoGenesis Holdings, Inc., Bio-Techne Corporation, BioLife Solutions, Inc., Exact Sciences Corporation, Princeton CryoTech, Inc., Stemcell Technologies, Inc., OPS Diagnostics, AMS Biotechnology, among others. The players are focused on launching new products for gaining customers' traction and expanding their geographical reach to get a competitive edge in the industry. Some of the instances are:
§?In October 2019, Merck announced its plans to establish a Sustainability Centre in Dubai. The center comprises diverse programs that address and accelerate solutions for sustainable challenges through the application of advanced science and technology.
§?In February 2019, the international crop research for the semi-arid tropics (ICRISAT) had inaugurated a Hyderabad gene bank, which is entirely powered by solar energy. The facility can address the food problems in tropical and semi-arid countries in Asia and Africa. Gene banks such as ICRISAT can help preserve the gene diversity in crops, which can help the farmers protect plants from climate change, pests and insects, and diseases.
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“Global Biopreservation Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for biopreservation solution providers across the globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.?????
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Market Segmentation:
1.?????By type (Biopreservation Media, Biospecimen Equipment, Freezers, Cryogenic storage Systems, Thawing Equipment, and Refrigerators)
2.?????By Biospecimen (Human Tissue Samples, Organs, Stem Cells, and Others)
3.?????By Applications (Therapeutic Applications, Research Applications, Clinical Trials, and Others)
4.?????By Region (North America, Europe, Asia-Pacific, and Rest of the World)
5.?????By Company (Thermo Fisher Scientific Inc., Merck KGaA, ThermoGenesis Holdings, Inc., Bio-Techne Corporation, BioLife Solutions, Inc., Exact Sciences Corporation, Princeton CryoTech, Inc., Stemcell Technologies, Inc., OPS Diagnostics, AMS Biotechnology, etc.)
Key questions answered in the study:
1.?????What are the current and future trends of the Global Biopreservation industry?
2.?????How the industry has been evolving in terms of consumer demand and application areas?
3.?????How the competition has been shaping across the countries followed by their comparative factorial indexing?
4.?????What are the key growth drivers and challenges for the biopreservation industry?
5.?????What are the customer orientation, purchase behavior, and expectations from the biopreservation firms across various regions??