Biopreservation Industry Worth $7.1 billion by 2029, with a CAGR of 9.8%
The report "Biopreservation Market by Product (Media [Cryopreservation, Hypothermic]), Equipment (Freezers, Refrigerators, Incubators, Centrifuge, Accessories), Biospecimen (Tissues, Organs, Stem Cells), Application (Research, Therapeutic) - Global Forecast to 2029", is projected to reach USD 7.1 billion by 2029 from USD 4.4 billion in 2024, at a CAGR of 9.8% during the forecast period. The growth of this market is majorly driven by rise in initiatives and investments for life science research, growth in cell & gene therapy areas, and establishment of new facilities by hospitals which will give rise to more organ donations and preservation.
Browse 361 market data Tables and 53 Figures spread through 300 Pages and in-depth TOC on "Biopreservation Market by Product (Media [Cryopreservation, Hypothermic]), Equipment (Freezers, Refrigerators, Incubators, Centrifuge, Accessories), Biospecimen (Tissues, Organs, Stem Cells), Application (Research, Therapeutic) - Global Forecast to 2029"
View detailed Table of Content here - https://www.marketsandmarkets.com/Market-Reports/biopreservation-media-storage-equipment-market-842.html
The biopreservation media segment is expected to account for the largest share in 2023.
The Biopreservation market, by product, has been segmented into biopreservation media, biopreservation equipment, and biopreservation accessories. The biopreservation media segment accounted for the largest market share in 2023. This is attributed due to the most frequent purchasing of media as compared to equipment and increased stability of biospecimen during the storage and transportation. Biopreservation equipment segment is expected to register highest CAGR during the forecast period.
The Human Tissue Samples segment held the largest market share in the Biopreservation market.
Based on the biospecimen, the Biopreservation market is segmented into human tissue samples, organs, stem cells, and other biospecimens. The human tissue samples segment accounted for the largest market share in 2023. This can be attributed to the ongoing advancements in biomedical research, including genomics, proteomics, and personalized medicine, have increased the need for high-quality human tissue samples for basic and translational research studies.
The research application segment held the largest market share in the Biopreservation market.
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 large share of this segment can be attributed to the growing research activities in in the fields of stem cell technology, cell-based research, genomic research, regenerative medicine, tissue engineering, drug discovery, and organ transplantation.
North America dominates the global Biopreservation market
Based on the region, the Biopreservation market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East & Africa, and GCC. The North America market is driven by availability of technologically advanced products and growing research investments by companies and government. The Asia Pacific segment is projected to register the highest CAGR during the forecast period. Developing healthcare infrastructure, rapid growth in the biotechnology industry, and growing incidence of chronic disorders are some of the major factors driving the growth of this regional market.
Major players in Biopreservation market include Thermo Fisher Scientific Inc. (US), Merck KGaA (Germany), PHC Holdings Corporation (Japan), and Azenta, Inc. (US).
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