Global Biopreservation Market Forecast Report 2024-2029: Advances in Biobanking and Growing Trend of Conserving … – GlobeNewswire

Dublin, June 03, 2024 (GLOBE NEWSWIRE) -- The "Global Biopreservation Market by Product (Media [Cryopreservation, Hypothermic]), Equipment (Freezers, Refrigerators, Incubators, Centrifuge, Accessories), Biospecimen (Tissues, Organs, Stem Cells), Application (Research, Therapeutic) - Forecast to 2029" report has been added to ResearchAndMarkets.com's offering.

The global Biopreservation market 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 demand for preserving biological materials in healthcare, research, and industrial application, growing prevalence of chronic diseases, and technological advancements. However, technical challenges, quality control, energy consumption and environmental impact could restrain the growth of the Biopreservation market.

Biopreservation Media segment accounted for the highest market share in the Biopreservation market, by product, during the forecast period.

Based on product, the Biopreservation market is segmented into biopreservation media, biopreservation equipment, and accessories. The biopreservation media segment accounted for the largest market share in 2023. This is attributed to the growing advancements in biotechnology and pharmaceutical companies, rise in demand for regenerative medicine, globalization of clinical trials, and expansion of cell & gene therapies.

Human Tissue Samples accounted for the larger market share in the Biopreservation market, by biospecimen, during the forecast period.

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 rise in expansion of biobanking initiatives, growth in personalized medicine, and growing investments in biomedical research.

Biobanks accounted for the highest CAGR during the forecast period.

Based on the end user, the Biopreservation market is segmented 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 biopreservation market in 2023. Growth in clinical research & trials, increasing collaborative research initiatives, and rise in funding from the government are supporting the growth of this end-user segment.

The North America segment accounted for the highest market share in the Biopreservation market, by region, during the forecast period.

Based on the region, the Biopreservation market is divided into North America, Europe, the Asia Pacific, Latin America, the Middle East & Africa, and GCC. North America region accounted for the largest share of the global Biopreservation market in 2023. This large share of North America is due to the strong healthcare system, presence of leading biotech and pharmaceutical companies, and innovation in cryopreservation and cryobanking.

The report provides insights on the following:

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Executive Summary

Premium Insights

Key Market Dynamics

Drivers

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Opportunities

Challenges

Companies Featured

For more information about this report visit https://www.researchandmarkets.com/r/sfoh9k

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Global Biopreservation Market Forecast Report 2024-2029: Advances in Biobanking and Growing Trend of Conserving ... - GlobeNewswire