Biopreservation Market Expected to Expand at a Steady 2021-2028 | Novartis AG, Pfizer, Inc., Teva Pharmaceutical Industries Ltd.

Biopreservation Market

Overview:

Biopreservation is important in biobanking. Depending on the demand for the specific specimen, the preservation period of biological samples could be long or short. Maintaining the stability and functionality of samples during 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.

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Drivers:

Rising cases of chronic diseases are expected to boost growth of the global biopreservation market through the forecast period. For instance, in 2019, the American Cancer Society estimated that cancer affected 1,762,450 people and caused 606,880 deaths in the U.S.

Rising activities of cell therapy production are likely to boost growth of the global biopreservation market. For instance, in August 2020, IsoPlexis partnered with Lonza Group to use the IsoLight automated proteomics platform for functional quality analytics for products manufactured on Cocoon automated cell manufacturing system of Lonza.

Opportunities:

Network development for accessing biospecimens and research data is projected to create beneficial growth opportunities for competitors in the global biopreservation market. With collaborations and networks to get access of research data and biospecimens, successful biomedical researches are attainable. The demand for media to maintain sample stability during transporting the biospecimen will increase with implementation of global accessibility model resulting into growing transnational activity.

Restraints:

Strict regulations for gene therapy is expected to restrict use of bbiopreservation in healthcare sector hampering the growth of the biopreservation market. For instance, in August 2020, the U.S. FDA did not approve a one-time gene therapy for haemophilia A.

High cost of maintenance and sustenance of biobanks are likely to hinder growth of the global biopreservation market. A large capital is needed for a small biobank to store and process biospecimens during the preservation period.

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Market taxonomy:

• By Product Type
o Equipment
o Freezers
o Refrigerators
o Liquid Nitrogen Tanks
o Consumables
o LIMS
o Media
o Home-brew
o Pre-formulated

• By Application
o Regenerative Medicine
o Biobanking
o Drug Discovery

• By Region
o North America
o Latin America
o Europe
o Asia Pacific
o Middle East
o Africa

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.

Key players:

Key players functioning in the global biopreservation market are, Biomatrica, Inc., Dometic Group, VWR International, LLC, Simport Scientific, Lifeline Scientific, Hamilton Company, BioCision LLC, BioLife Solutions, Inc., CHART MVE BIOMEDICAL, Panasonic Corporation, Thermo Fisher Scientific, Inc., ThermoGenesis Holdings, Inc., Atlanta Biologics, LabVantage Solutions, Inc., and Core Dynamics Ltd.

Key Developments:

Key players in the market are adopting different strategic moves such as Merger and Acquisition and R&D of novel products to strengthen their product portfolio. For instance, in March 2020, Thermo Fisher Scientific Inc. acquired QIAGEN N.V., who supplies molecular diagnostics and sample preparation technologies. Moreover, in July 2018, Biomatrica, Inc. was assigned new U.S. patent for storage and stabilization of nucleic acids and proteins for blood collection.

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1. Overview and Scope

1.1. Research goal & scope

1.2. Research assumptions

1.3. Research methodology

1.3.1. Primary data sources

1.3.2. Secondary data sources

1.4. Key takeaway

1.5. Stakeholders

2. Executive Summary

2.1. Market definition

2.2. Market segmentation

3. Biopreservation Market Insights

3.1. Biopreservation - Industry snapshot

3.1.1. Leading Companies

3.1.2. Key Companies to Watch

3.2. Biopreservation - Ecosystem analysis

3.2.1. Market overview

3.2.2. Commercial Landscape

3.3. Biopreservation Market Dynamics

3.3.1. Market Forces

3.3.1.1. Market Driver Analysis

3.3.1.2. Market Restraint/Challenges analysis

3.3.1.3. Market Opportunity Analysis

3.4. Industry analysis – Porter’s five forces

3.4.1. Bargaining power of supplier

3.4.2. Bargaining power of the buyer

3.4.3. Threat of substitute

3.4.4. The threat of new entrant

3.4.5. Degree of competition

3.5. Market PEST Analysis

3.6. Market Value Chain Analysis

3.7. Industry Trends

3.8. Competitive Ranking Analysis

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