Biopreservation Market is Expected to Witness Rapid Growth 2014 - 2025.

The major application analyzed in the study comprised drug discovery, bio-banking, and regenerative medicines. Moreover, the further segmentation of bio-banking includes veterinary IVF, human sperm, and human eggs. The Bio-banking segment held the largest share of 72.5% in 2014. Rising awareness related to the preservation of stem cells, the use of assisted technology for reproduction in animals, and the increasing number of sperm and egg banks are anticipated to drive the growth. Additionally, the expected rise in the revenue share of the segment can be attributed to the advent of new techniques used for the preservation of cells for a longer period. Regenerative medicine is considered to be the fastest-growing segment owing to the high demand for efficient and specialized techniques for bio-storage. Moreover, a huge amount of investments by non-government or government organizations in the field of regenerative cell therapy research is projected to boost the growth of the overall market.

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Regional Insights

The key market in 2014 was North American having a revenue share of more than 45% owing to the innovative drug developments and therapies for biomedical research. Also, the continuous rise in the population base with chronic and acute disorders requiring treatment and diagnosis in the region is further driving revenue generation. Asia Pacific region is expected to show a considerable growth rate over the forecast period owing to the rise in population base suffering from life-threatening disorders. Moreover, increasing investments by the government in R&D is leading to an urgent need for bio-storage, therefore providing a boost to the regional market.

Market Share Insights

The key players holding a significant share of the biopreservation market include Qiagen, Thermo Fisher Scientific Inc, Panasonic Biomedical, Atlanta Biologicals, LabVantage Solutions Inc., Chart MVE Biomedical, BioLife Solutions Inc., Biomatrica, and BioCision. The strategic initiatives by the company including acquisitions, mergers, and new product launches are done to maintain and gain a competitive edge. For instance, ATCC and BioCision in May 2013 agreed to distribute and develop a line of CoolProducts having a wide array of applications in wielding procedures and biomaterials storage.

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