The global biopreservation market is estimated to reach USD 2223.7 million by the end of 2016. Considering the current market status, growth indicator and expected future trends, the market is estimated to reach USD 3312.9 billion by 2021, growing at a CAGR of 8.3% during the forecast period.
The global biopreservation market study report comprises of worldwide biopreservation market information such as market size, value, and forecasts. It offers an extensive analysis of every segment of the market in major regions across the globe. In addition to the market estimation, the report throws light on the competitive landscape, as well. Moreover, the study documents company profiles of all the major market players, comprising of their business strategy and SWOT analysis, etc. The key offerings and elaborative report structure are specified in the description that follows.
Market Dynamics: Drivers and Restraints
Improving healthcare expenditure around the world, advancements in research and development, adoption of in-house sample storage in hospitals and labs, and investments in bio-banks and personalized medicine are some of the factors driving the market for biopreservation. However, the high cost of instruments and their maintenance and possibility of tissue injury during preservation and thawing are a few major restraining factors hindering the growth of the market.
The global biopreservation market is segmented into:
Type of Products End-User Application Services Geography The product segment is further divided on the basis of biopreservation media (nutrient media, sera, and other supplements) and equipment (temperature maintaining units- freezers, cryogenic storage systems, thawing equipment, refrigerators, and centrifuges). The end-user segment is sub-segmented into biobanks, gene banks, and hospitals. The application segment is divided into therapeutics, research, clinical trials and others. Further, the market is also segmented into various services such as biobanking for individuals (umbilical cord/stem cell banking, ovum/egg banking), and biobanking for institutes (tissue banking, cell banking services, organ banking, and repository services).
Geographically, the market is segmented into North America (the USA, Canada and Mexico), Europe (Germany, the UK, France, Italy, Spain & Portugal, Scandinavia, BENELUX), Asia-Pacific (China, Japan, India, Australia and New Zealand, South Korea), the Middle East and Africa (GCC, South Africa) and Latin America (Brazil and Argentina).
Latin America is expected to experience the highest growth rate during the forecast period; while, regarding market value, the North American region will hold the largest amount during the next five years. Emerging markets are expected to grow at a higher CAGR than industrialized nations during the forecast period of 2016 to 2021, due to growing investments in research, increasing expenditure on healthcare, and rising awareness about biobanking.
Key Players in the Biopreservation Market
Biolife Solutions Inc. Cesca Therapeutics, Inc. Lifeline Scientific, Inc. Sigma-Aldrich Corporation Biocision LLC Custom Biogenic Systems, Inc. Chart Industries, Inc. Hamilton Company Simport Scientific Key Deliverables in the Study:
Market analysis for the global biopreservation market, with region specific assessments and competition analysis. Market definition along with the identification of key drivers, restraints opportunities and challenges. Identification of factors instrumental in changing the market scenario, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale. Extensively researched competitive landscape section with company profiles of key players with the analysis of their current strategic interests and key financial information. Identification and analysis of the macro and micro factors that affect the global biopreservation market. Insights of the market in the regions that have the highest potential for growth and also identify the markets that are still untapped.