Global Biopreservation Market 2017-2021
About Bio Preservation
Bio preservation is a process that uses effective storage techniques to preserve the indigenous functionality and integrity of cells, tissues, and organs at different temperatures for an extended period. Earlier, in the field of tissue engineering, cell and tissue transplantation, and genetic engineering, and preserving of engineered cells and tissues with functional viability in an external environment is a major challenge.
Technavio’s analysts forecast the global bio preservation market to grow at a CAGR of 12.43% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global bio preservation market for 2017-2021. To calculate the market size, the report considers the revenue generated from the sale of bio preservation systems.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Bio Preservation Market 2017-2021
Technavio recognizes the following companies as the key players in the global bio preservation market: BioLife Solutions, Merck Millipore, Thermo Fisher Scientific, and VWR.
Other Prominent Vendors in the market are: BioCision, CESCA THERAPEUTICS, Biomatrica, Brooks Automation, Core Dynamics, CUSTOM BIOGENIC SYSTEMS, Lifeline Scientific, Helmer Scientific, So-Low Environmental Equipment, and Princeton CryoTech.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is growing demand for personalized medicine. The high unmet medical need in the market has driven the demand for personalized medicine, which could offer game-changing opportunities for the vendors. Personalized medicines can offer treatments based on the individual characteristics, needs and preferences.”
According to the report, one driver in the market is increasing expenditure on R&D. The global expenditure on R&D is showing consistent growth from last few years. It went up from $522 billion in 1996 to $1.6 trillion in 2014. In 2016, it was approximately $1.9 trillion. The economies of developing countries are growing faster than that of developed countries, which will result in more research facilities and development of institutes over the next five years. The increase in number of research and testing facilities in the field of biopharmaceutical will result in increase in demand for laboratory equipment such biopreservation systems.
Further, the report states that one challenge in the market is improper Infrastructure. Biological samples like blood, lipid, stem cells and others are sensitive to temperature thereby need a proper environment with stable temperature ideally for storage. In many under-developed and developing countries inadequate financial and infrastructure resources restrain the adoption of purpose-designed biopreserving equipment. Lack of funding as well as healthcare cuts have reduced the opportunity to invest in proper infrastructure that can accommodate biopreservation equipment.
BioLife Solutions, Merck Millipore, Thermo Fisher Scientific, VWR, BioCision, CESCA THERAPEUTICS, Biomatrica, Brooks Automation, Core Dynamics, CUSTOM BIOGENIC SYSTEMS, Lifeline Scientific, Helmer Scientific, So-Low Environmental Equipment, and Princeton CryoTech.
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