Bio Preservation Market to Witness Robust Growth through 2025
Rising demand for advanced preservation methods and
constantly increasing healthcare spending to drive the growth of global bio
preservation market
According
to TechSci Research report, “Global
Bio
Preservation Market By Product (Media, Equipment,
Accessories, Alarms & Monitoring System, Incubators, Centrifuges, Other),
By Biospecimen (Human Tissue Samples, Stem Cells, Organs, Others), By Cell
Providers (CD34+, CD19+, MSC, iPSC, hESC, Tumor Cells), By Application
(Therapeutic, Research, Clinical Trials, Others), By End User (Biobanks, Gene
Banks, Hospitals, Others), By Region, Forecast & Opportunities, 2025”, global
bio preservation market is expected to witness robust CAGR during the forecast
period. Rising demand for advanced preservation methods is one of the major factors accounting
for the growth of global bio preservation market. Moreover, growing
preference for maintaining repositories for biological specimens, for
application in regenerative medicine and organ transplantation is expected to
bode well for the growth of global bio preservation market through the forecast
period. In addition to this, supportive government initiatives in order to enhance
bio-banking and preservation standards and practices, is anticipated to positively
influence the growth of global bio preservation market in the years to come.
Also, this technique primarily increases stability, purity and shelf life of
bio specimens, which is making headway for the growth of global bio
preservation market across the globe. Along with this, majority of pharmaceutical
companies, hospitals and biotechnology firms are progressively accepting these
systems for the in-house storage of the samples, thereby positively
contributing to the market growth. However, there are some factors such as rising
healthcare costs, among others, that might act as major impediment to the
growth of global bio preservation market through 2025.
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Global
bio preservation market can be segmented based on product, biospecimens, cell
providers, application, end user, company, and region. Considering the cell
providers, the market is fragmented into CD34+, CD19+, MSC, iPSC, hESC and tumor
cells. The tumor cells segment dominated the global bio preservation market in
terms of largest market share until 2019 and is further anticipated to hold its
dominance during the forecast years as well, which can be accredited to rising
preference for tumor cells for treatment of various types of cancers such as
colon, breast and prostate cancer. Moreover, utilization of tumor cells for
identification of rare cells in body fluid will increase its need for
validation of chemotherapy as well as early diagnosis of cancer recurrence, which
is anticipated to foster the growth of segment over the next five years. Also,
the MSC segment is further expected to register high growth in the years to
come. This high growth is attributable to surging use of mesenchymal
stem/stromal cells in various research studies and clinical trials. Furthermore,
capability of the multipotent mesenchymal stem cells to differentiate into multiple
cell types like cartilage cells, bone cells, muscle cells and adipocytes, is
resulting in their high adoption, thereby augmenting the demand for the
segment.
Thermo Fisher Scientific, Inc.,
Sigma-Aldrich Corporation, VWR Corporation, Biolife Solutions, Inc., Lifeline
Scientific, Inc., Cesca Therapeutics, Inc., BioCision, LLC, Core Dynamics,
Ltd., Custom Biogenic Systems, Inc., So-Low Environmental Equipment Co., Inc.,
Princeton Cryotech, Inc., Chart MVE Biomedical, LabVantage Solutions, Inc.,
Biomatrica. Inc., Taylor-Wharton Cryogenics LLC, are among others
are the leading players operating in global bio preservation market. The leading players are adopting several growth strategies
to enhance the market scenario of bio preservation. Other competitive
strategies include product launches; mergers & acquisitions; agreements,
partnerships, & collaborations; and expansions to diversify their product
portfolio in order to strengthen their market position.
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“North America is
forecast to dominate the global bio preservation market during the next five
years on account of significant rise in patient base requiring high-end
treatment for chronic diseases. Furthermore, rising government investment in
R&D is also contributing to the growing trend. Additionally, growing
instances of lifestyle diseases such as obesity, diabetes, and renal diseases,
which lead to organ damage, is fueling the demand for organ transplantation,
which is further anticipated to boost the market growth for bio preservation in
region over the coming years.”, said Mr. Karan Chechi, Research Director with
TechSci Research, a research based global management consulting firm.
“Global Bio Preservation Market By Product (Media,
Equipment, Accessories, Alarms & Monitoring System, Incubators,
Centrifuges, Other), By Biospecimen (Human Tissue Samples, Stem Cells, Organs,
Others), By Cell Providers (CD34+, CD19+, MSC, iPSC, hESC, Tumor Cells), By Application
(Therapeutic, Research, Clinical Trials, Others), By End User (Biobanks, Gene
Banks, Hospitals, Others), By Region, Forecast & Opportunities, 2025” has evaluated the future growth potential of global bio
preservation market and provides statistics & information on market size,
structure and future market growth. The report intends to provide cutting-edge
market intelligence and help decision makers take sound investment decisions.
Besides, the report also identifies and analyzes the emerging trends along with
essential drivers, challenges and opportunities in global bio preservation market.
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