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Biopreservation Market - Global Analysis, Geographical Segmentation, and Industry Growth by Technavio

Technavio Research
Posted on: 26 Jul 17

The global biopreservation marketis expected to grow at a CAGR of more than 12% during the forecast period, according to Technavio’s latest report.

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Technavio has published a new report on the global biopreservation market from 2017-2021. (Photo: Business Wire)

In this report, Technavio covers the market outlook and growth prospects of the global biopreservation marketfor 2017-2021. The market is segmented based on application, which includes drug discovery, regenerative medicine, and biobanks. The market is further segmented by end-user, which includes life science and healthcare facilities and research laboratories.

The global biopreservation market is growing at a rapid rate, owing to the continuous introduction of new methods and preservation technologies by manufacturers to keep the biosamples viable and stable for a long period. The manufacturers are focusing on innovative solutions for storage and developing in-house sample testing to reduce the storage costs. In addition, the emergence of innovative technologies such as room temperature storage technology has boosted the growth of the market in the past and will continue during the forecast period.

Technavio’s research analysts categorize the global biopreservation market into the following segments by regions:

  • Americas
  • EMEA
  • APAC

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Americas: largest biopreservation market

“An increase in the number of hospitals providing advanced treatments has resulted in an increased demand for biopreservation systems to store samples for future use. This is encouraging manufacturers to devise cutting-edge biopreservation technologies, to provide optimum storage capacity for biological samples at different temperatures such as ambient temperature or room temperature,” says Amber Chourasia, a lead analyst at Technavio for research on lab equipment.

The biopreservation market in the Americas is driven by the growing interest in research on regenerative medicine and drug discovery. This has resulted in an increase in pharma industries, biotechnology industries, and research laboratories demanding for laboratory equipment such as biopreservation systems.

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Biopreservation market in EMEA

“At present, Europe has more than 110 small biotech firms and more than 50 cell therapy companies. Most of the companies have set up their hubs in countries such as the UK, France, and Germany. The companies are extensively conducting research, which enabled them to launch new therapies,” adds Amber.

The rising demand for advanced treatment in European countries such as Germany, France, the UK, and Spain has resulted in an increased research in stem cells, cell line development, tissue engineering, and organ transplant, thus increasing the demand for the biopreservation systems in the region.

Biopreservation market in APAC

The major contributors to biopreservation systems market in APAC comprise Japan, India, China, and South Korea. The growth of biopreservation market in APAC is propelled by rising healthcare needs, in-house biopreservation, and the number of biopreservation projects in countries such as China, Japan, and South Korea.

The developments in stem cell therapy in APAC and rising medical tourism in the region will benefit the market in future. For instance, in Japan, the Pharmaceutical Affairs Law in Japan amended Pharmaceutical and Medical Devices Law in 2014 under which rapid approval for regenerative medicine including stem cell therapy will be provided for new product category. This amendment has widened the opportunity for many vendors in the stem cell therapy market who are conducting clinical trials for product approvals.

The top vendors in the global biopreservation market highlighted in the report are:

  • BioLife Solutions
  • Merck Millipore
  • Thermo Fisher Scientific
  • VWR

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About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team at media@technavio.com.

View source version on businesswire.com: http://www.businesswire.com/news/home/20170725005715/en/

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Last updated on: 26/07/2017

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