Biopreservation is an important
aspect of biobanking. The duration for preservation of biological samples may
either short or long-term, depending on the demand for the specific specimen.
In order to encourage sample donation for research activities, it is very
essential to maintain the functionality and stability of samples throughout
their preservation period apart from securing the donor information.
The global Biopreservation
Market is estimated to account for US$ 6,646.2 Mn in terms of value in 2020
and is expected to reach US$ 19,748.6 Mn by the end of 2027.
Global Biopreservation Market:
Drivers
Increasing prevalence of chronic
disorders is expected to propel growth of the global biopreservation market
over the forecast period. For instance, according to the American Cancer
Society, in 2019, there will be an estimated 1,762,450 new cancer cases
diagnosed and 606,880 cancer deaths in the U.S.
Global Biopreservation Market:
Opportunities
Development of networks for the
access of biospecimens and research data is expected to offer lucrative growth
opportunities for players in the global biopreservation market. Success in
biomedical research can be achieved faster through collaborations and creating
networks for the access of biospecimens and research data globally. The
implementation of global accessibility model will result in rise in the
transnational activity. This in turn will generate demand for media for
maintaining sample stability while transporting the biospecimen to a
destination.
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Global Biopreservation Market:
Restraints
Expenses incurred for the
maintenance and sustenance of biobanks are a concern for the global
biopreservation market. A small biobank requires huge capital to store and
process biospecimens throughout the preserving period.
Key Takeaways:
The global biopreservation market
was valued at US$ 5,692.8 Mn in 2019 and is forecast to reach a value of US$
19,748.6 Mn by 2027 at a CAGR of 16.8% between 2020 and 2027. Major factor
driving the growth of global biopreservation market during the forecast period
include increasing number of biobanks, and emergence of COVID-19.
Equipment held dominant position
in the global biopreservation market in 2019, accounting for 82.0% share in
terms of value, followed by culture media.
Market Trends
Increasing cell therapy
manufacturing activities are expected to propel growth of the global
biopreservation market. For instance, in August 2020, IsoPlexis collaborated
with Lonza Group under which IsoLight automated proteomics platform will be
used for functional quality analytics for products produced on Lonza’s Cocoon
automated cell manufacturing system.
However, stringent regulatory
scenario for gene therapy is expected to limit adoption for biopreservation in
the healthcare sector, thereby hindering growth of the market. For instance, in
August 2020, the U.S. Food and Drug Administration rejected a one-time gene
therapy for hemophilia A.
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Global Biopreservation Market:
Competitive Landscape
Major players operating in the
global biopreservation market include, BioCision, LLC, BioLife Solutions, Inc.,
Biomatrica, Inc., CHART MVE BIOMEDICAL, Dometic Group, Panasonic Corporation,
VWR International, LLC, Thermo Fisher Scientific, Inc., Simport Scientific,
ThermoGenesis Holdings, Inc., Atlanta Biologics, Lifeline Scientific,
LabVantage Solutions, Inc., Hamilton Company, and Core Dynamics Ltd.
Global Biopreservation Market:
Key Developments
Major players in the global
biopreservation market are focused on adopting M&A strategies to expand
their product portfolio. For instance, in March 2020, Thermo Fisher Scientific
Inc. announced to acquire QIAGEN N.V., a provider of molecular diagnostics and
sample preparation technologies.
Major players in the market are
also focused on R&D of new products to expand their product portfolio. For
instance, in July 2018, Biomatrica, Inc. announced the grant of new U.S. patent
for the stabilization and storage of nucleic acids and proteins for blood
collection.
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