Biopreservation Market Size, Share & Trends

Updated on : September 24, 2024

Overview of the Biopreservation Market

Key entities in the global biopreservation market include major players like Thermo Fisher and Merck. Biopreservation market forecasted to transform from $4.4 billion in 2024 to $7.1 billion by 2029, driven by a CAGR of 9.8%. This expansion is largely driven by increasing healthcare expenditures, particularly in organ transplants and cell therapies, as highlighted by a 4.1% increase in U.S. healthcare spending in 2022. However, high costs associated with advanced storage techniques and logistical challenges in maintaining sample integrity could hinder market growth. Notably, biobanks are emerging as a dominant end-user segment due to government investments and collaborative research efforts. The equipment segment is expected to experience the highest growth, while North America remains the leading region, supported by substantial research funding and the presence of major industry players. With ongoing advancements in biopreservation technologies and increasing demand for biomedical research, the market presents numerous opportunities for stakeholders in healthcare and research sectors.

Biopreservation Market Trends

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Market Dynamics

DRIVER: Growing healthcare expenditure

Innovative medical procedures such as organ transplants, stem cell therapy, and regenerative medicine will be on the rise with the increasing healthcare expenditure. These procedures require frequent preservation of biological samples such as tissues, cells, and organs, which will result in the increased demand for biopreservation products that can effectively retain the vitality of these materials while preserving. According to the American Medical Association (AMA), in 2022, the healthcare expenditure in the US increased by 4.1%, reaching USD 4.4 trillion or USD 13,493 per person.  Similarly, Canada’s total health spending was expected to reach USD 344 billion (12% of GDP) in 2023, or USD 8,740 per Canadian.

RESTRAINT: High cost of advanced techniques

Biopreservation is of outmost importance in the storage of bio samples. This involves the specific use of media and equipment, such as freezers, refrigerators, or cryogenic and other expensive storage equipment. Because of the components involved, the media solutions for organs, as well as for cells and tissues, are expensive to produce. Equipment like liquid nitrogen storage systems and tanks, are a one-time investment for storage and transport in which huge capital is involved in the initial stages of establishing a biopreservation setup. For instance, Thermo Fisher Value Lab Upright freezers cost USD 3,510, TSX Universal ULT Freezer costs range from USD 11,600 to USD 89,400, VWR CryoPro Standard Auto-Fill Systems costs range from USD 30,766 to USD 54,341, VWR CryoPro AFX Auto-Fill Systems costs range from USD 20,847 to USD 23,762, and the MVE Fusion Series Freezers costs range from USD 51,295 to USD 62,528.

OPPORTUNITY: Growing demand for organ transplants and cell & gene therapy

Organs like heart or lung can be kept viable for transplantation for only six hours, pancreas or liver for 12 hours, and a kidney for less than 30 hours. Hence, to maintain a proper condition, it is very important to preserve these organs. The aim of the preservation is to ensure the optimal functionality of the organ after transplantation so that the damage during this time is minimal. Degenerative reactions take place when the organ is removed from the donor, this is because of the alteration of homeostasis of the organ; therefore, it is very crucial to properly preserve the organs. Moreover, the rise in the number of cell and gene therapy products in development will support the demand for biopreservation solutions to store and manage biological materials used in these therapies, which includes cells, tissues, and viral vectors. This is due to increasing investments in cell and gene therapy R&D which has led to the significant growth of the therapy pipeline, with more candidate therapies advancing into clinical trials and commercialization.

CHALLENGE: Storage and transportation logistics

Ensuring the viability and integrity of preserved biological materials is technically challenging. Issues such as ice crystal formation during freezing, contamination risks, and sample degradation over time pose significant hurdles. Maintaining consistent quality control standards is also resource intensive. Furthermore, biological samples often need to be transported at consistent low temperatures to prevent degradation. Any break in the cold chain can compromise sample viability.

Ecosystem/ Market Map

Prominent companies in this market include well-established, financially stable manufacturers of Biopreservation. These companies have been operating in the market for several years and possess diversified state-of-the-art technologies, product portfolios, and strong global sales and marketing networks. Prominent companies in this market include Thermo Fisher Scientific Inc. (US), Merck KGaA (Germany), PHC Holdings Corporation (Japan), and Azenta, Inc. (US).

In 2023, biopreservation equipment segment to observe the highest growth rate of the biopreservation industry, by product.

Based on product, the biopreservation market is segmented into media, equipment, and accessories. The biopreservation media segment accounted for the largest market share in 2023. This is attributed to the frequent and repeated purchase of media when compared to equipment, and the media reflects their versatility and importance in preserving biological samples for diverse purposes.

In 2023, research application segment to dominate the biopreservation industry, by application.

Based on the application, the biopreservation market is segmented into therapeutic applications, research applications, and other applications. The research applications segment accounted for the largest market share in 2023. The growing research investments in biomedical research, personalized medicine, cell-based research, drug discovery, and other related segments will drive the market during the forecast period.

In 2023, biobanks segment to dominate the biopreservation industry, by end user.

Based on the end user, the biopreservation market is segmented into biobanks, gene banks, hospitals, and other end users such as research institutes and universities, pharmaceutical companies, and contract research organizations. The biobanks segment accounted for the largest share of the market in 2023. Advances in biobanks, more number of investments by the government in the biobanking sector, and collaborative research activities are supporting the growth of this end-user segment.

In 2023, North America to dominate in biopreservation industry.

The global biopreservation market is segmented into North America, Europe, Asia Pacific, Latin America, the Middle East & Africa, and GCC. North America is expected to dominate during the forecast period, primarily due to the growing availability of government funding for research activities and healthcare spending, the presence of major players in the US, and increased collaborations and partnerships between biobanks and research institutes.

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The Biopreservation market is dominated by players such as Thermo Fisher Scientific Inc. (US), Merck KGaA (Germany), PHC Holdings Corporation (Japan), Azenta, Inc. (US), Sartorius AG (Germany), Avantor, Inc. (US), ThermoGenesis Holdings, Inc. (US), Bio-Techne Corporation (US), BioLife Solutions Inc. (US), and Cryoport Inc. (US).

Report Scope

Report Segmentation

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa
• GCC

By Product

• Biopreservation Media
• Biopreservation Equipment
• Biopreservation Accessories

By Biospecimen

• Human Tissue Samples
• Organs
• Stem Cell
• Other Biospecimen

BY Application

• Therapeutic Application
• Research Application
• Other Applications

By End User

• Biobanks
• Gene Banks
• Hospitals
• Other End Users

Recent Developments

• In 2024, Merck invested more than USD 321.7 million (EUR 300 million) into a new Bioprocessing Production Center in Daejeon, South Korea. The new site is the largest investment by Merck’s Life Science business sector in the Asia Pacific to date and demonstrates the company’s commitment to expanding its capacities in the fast-growing region. Merck expects the investment to create approximately 300 additional jobs by the end of 2028.
• In 2024, Thermo Fisher Scientific introduced its newest line of high-performance, ultra-low temperature (ULT) freezers. With enhancements to performance, user experience, and energy efficiency, the Thermo Scientific TSX Universal Series ULT Freezers seamlessly adapt to scientists’ workflows across a variety of lab settings, marking a new era in performance, reliability, and sustainability.
• In 2023, Avantor entered into an agreement with Tobin Scientific, a leading provider of biopharma cold chain, ambient storage, and transport & logistics services, to support end-to-end moves for US biopharma customers looking to relocate the labs, research facilities, and samples. This partnership will deal with the growing customer need for complex logistics solutions with temperature-specific requirements.

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