Biopreservation Market

Market Overview

The global biopreservation market size was valued at USD 2.7 billion in 2023 and is projected to reach  USD 25.7 billion by 2032, registering a CAGR of 28.5% during the forecast period (2024-2032). The rising prevalence of chronic diseases will boost the worldwide biopreservation market share.

Biopreservation keeps biological samples, cells, tissues, or organs stable to maintain their integrity, viability, and functionality over time. This preservation is critical for many applications in science, medicine, and biotechnology, such as biobanking, drug discovery, regenerative medicine, and transplantation. Biopreservation procedures often employ specialized storage settings, such as low temperatures (cryopreservation), chemical additives (cryoprotectants), or controlled environments (hypothermic storage), to prevent degradation, cell death, or microbiological contamination. 

The global biopreservation market growth is primarily driven by the public's increased interest in personalized treatment. Furthermore, governments, academic institutions, and private organizations are expanding their spending on research and development (R&D) activities in life sciences, biotechnology, and healthcare, helping drive the market. Furthermore, as people's knowledge and comprehension of uncommon diseases and genetic abnormalities grew, there was a greater need to conserve biological samples from those affected. These techniques enable the collecting and preserving of these samples to understand disease causes, create diagnostics, and accelerate the development of tailored medicines, contributing to worldwide needs. 

Furthermore, the development of improved cryoprotectants, automated systems, and enhanced storage protocols is broadening the capabilities and applications of biopreservation by ensuring the efficiency, dependability, and safety of preserved biological materials, resulting in a buoyant market outlook.

Highlights

• Equipment accounts for the largest share of the market by product.
• Bio-Banking dominates the market by application.

Market Dynamics

Global Biopreservation Market Drivers

Increasing Demand for Biobanking Services

Biobanks are crucial for preserving and managing biological specimens in research, clinical trials, and demographic studies. For example, the UK Biobank is one of the world's largest population-based biobanks, containing biological samples and health data from more than 500,000 people. This website allows researchers to examine the genetic and environmental factors influencing human health and disease across different groups. Similarly, the All of Us Research Program in the United States seeks to collect health data and biospecimens from one million or more people to speed up precision medicine research and improve healthcare outcomes.

Additionally, new companies wanting to enter the biobanking industry focus on providing solutions to optimize biobanking operations, making the process more efficient and productive. These new biobanking providers are likewise looking to raise new funds to support their R&D efforts and company expansion objectives. In May 2023, Upkara, a biomedical technology startup launched in 2022, revealed that it had raised USD 9 million in Series A funding. The company anticipated using the funds raised to commercialize and market its biopreservation technology.

Furthermore, the expanding use of omics technologies like genomics, proteomics, and metabolomics has increased the demand for high-quality biospecimens housed in biobanks. Researchers use biobank samples for large-scale genomic studies, biomarker identification, and translational research projects. The availability of well-characterized biospecimens from biobanks hastens scientific discoveries and aids in developing new diagnostics and therapies.

Global Biopreservation Market Restraints

High Cost of Biopreservation Technologies

Biopreservation systems frequently require sophisticated equipment, specialized facilities, and consumables, resulting in significant initial and operating expenses. Smaller research institutes, biobanks, and healthcare facilities may find the cost of procuring, maintaining, and running biopreservation systems prohibitively high. The financial burden may limit the use of biopreservation methods, especially in resource-constrained or emerging regions.

Furthermore, Ultra-low temperature (ULT) freezers, also known as laboratory freezers, can range in price from USD 7,000 to USD 35,000, depending on the brand and size. The typical annual cost of running an upright, mechanical ULT freezer ranges between USD 750 and USD 1,000. These high equipment costs might be a financial barrier for companies investing in biopreservation infrastructure. In addition to equipment expenditures, biobanks, and research laboratories have continuous expenses such as building upkeep, energy usage, consumables, and employee pay. The necessity for specialized storage vessels, cryoprotectants, quality control reagents, and sample monitoring systems raises operational costs. 

Moreover, compliance with regulatory regulations, accreditation standards, and quality assurance methods incurs additional expenditures for biobanks and research organizations. Investing in employee training, paperwork, audit preparation, and regulatory submissions incurs financial costs. A small biorepository that stores 50,000 biospecimens can incur startup expenditures of USD 3-5 million in its first year. According to the NCBI, the beginning expenses for population-based biobanks range from USD 2.5 million to USD 212 million. A 2017 assessment of 45 biobanks in France and the Netherlands discovered that yearly running expenditures for a biobank range from 200,000 to 800,000 Euros, with an average of 400,000 Euros per year. This amount excludes research expenses.

Global Biopreservation Market Opportunity

Expansion of Cell and Gene Therapy

Cell and gene therapy has expanded dramatically recently, with multiple clinical triumphs and regulatory approvals. One notable example is the discovery and commercialization of chimeric antigen receptor (CAR) T-cell treatments for hematologic cancers. As of April 2023, six CAR T cell treatments had been approved. CT103A, a third CAR-T-cell product for treating multiple myeloma, was approved by the National Medical Products Administration in June 2023. In April 2024, the FDA authorized cilia-cel (Carvykti™) and ide-cel (Abecma®) to treat MM. Furthermore, in late 2023, NexCAR19 became the first CAR T-cell therapy designed and approved in India. It was created in collaboration between IIT Bombay and the Tata Memorial Centre to target cancer cells with the CD19 protein, a cancer cell marker. 

Additionally, the rising pipeline of cell and gene therapy candidates demonstrates the increasing interest and investment in this therapeutic area. As of January 2023, there were over 2,000 clinical trials for cell and gene therapies, including 200 in Phase III. The Alliance for Regenerative Medicine predicts that at least ten new cell and gene therapy products will be licensed in the United States and Europe by 2023, including five cell treatments, four gene therapies, and one gene-editing therapy. These studies include investigational treatments that target different cell types (e.g., T cells, stem cells) and use a variety of gene editing and delivery techniques.

Furthermore, the United States Food and Drug Administration (FDA) will approve seven innovative cell and gene therapies in 2023—for example, Omidubicel. Approved on April 17, 2023, this allogeneic cell treatment lowers the risk of infection in patients aged 12 and up receiving stem cell transplantation for hematologic malignancies. It is administered as a single intravenous infusion of patient-specific human allogeneic cord blood-derived stem cells. 

Likewise, Lyfgenia- a cell-based gene therapy approved on December 8, 2023, is for individuals aged 12 and up with sickle cell disease and a history of vaso-occlusive episodes. It genetically alters a patient's blood stem cells to create HbAT87Q, a gene therapy-derived hemoglobin that lowers the risk of sickling and obstructing blood flow. As the field advances, biopreservation methods will become increasingly crucial in guaranteeing the efficacy, safety, and accessibility of cell and gene-based treatments for patients worldwide. 

Regional Analysis

The global biopreservation market analysis is conducted in North America, Europe, Asia-Pacific, the Middle East and Africa, and Latin America.

North America Dominates the Global Market

North America is the most significant global biopreservation market shareholder and is estimated to grow at a CAGR of 28.2% over the forecast period. North America generated the most revenue in the biopreservation market, accounting for 40% of the total. The North American market is primarily driven by an increase in demand for the preservation of blood, solid tissue specimens, including paraffin-embedded or frozen tumor biospecimens, and other tissues (such as peripheral blood cells, bone marrow, and stem cell-derived cord blood and its derivatives) across multiple research institutes, pathological centers, and hospitals.

Furthermore, the increased government investment in drug development is expected to increase the utility of biopreservation for the ex-vivo preservation of cells, tissues, and organs for storage, shipment, and transportation purposes. For example, the Canadian government funded USD 45 million in the Stem Cell Network this year and for the next three years to promote stem cell and regenerative medicine research. Such expenditures are expected to increase the usefulness and demand for biopreservation in the region, driving market expansion during the forecast period.

Additionally, technological developments, increased product approvals, alliances, and acquisitions by important companies all contribute to market expansion. For example, in February 2022, OriGen Biomedical Inc., a global medical device manufacturer of cryopreservation, cell culture, and respiratory devices, introduced the CryoStore FLEX Freezing Bag in the United States and Europe. The CryoStore FLEX Bag is intended for the cryopreservation of blood components and provides multi-chamber flexibility for small-volume dosage solutions. 

Asia-Pacific is anticipated to exhibit a CAGR of 28.8% over the forecast period due to increased financing support for biobanking techniques and services and expanded partnerships and collaborations based on biopreservation methods. According to a January 2023 study based on the Longitudinal Ageing Study in India (LASI), 32.1% of older individuals in India have many morbidities, compared to 30.3% who had only one. As a result of the increasing prevalence of chronic diseases in the country, the region's biopreservation industry will rise in the future. Increased hospital use and the massive construction of new biobanks are driving the expansion of the biopreservation market.

Europe is likely the most appealing section of the market over the forecast period. Germany is expected to see the fastest growth in Europe throughout the forecast period due to increased funding support for biobanking techniques and services and increased partnerships and collaborations from bio-preservation approaches. Increased government financing for biobank networking, such as the UK Biobank, and international alliances to expand biobanking's reach have rapidly expanded the biopreservation sector.

Latin America might also emerge as an essential income hub. Government assistance for research and development is expected to increase the acceptability of bio-storage and drive regional market growth. The Latin American biopreservation market will expand significantly throughout the forecast period.

The Middle East and Africa market is predicted to have a minor proportion of the global biopreservation market due to an underdeveloped healthcare sector, a lack of technological understanding, and inadequate medical facilities. 

Segmental Analysis

The global biopreservation market is segmented based on product and application.

The market by product is further segmented into Equipment, Media, and Laboratory Information Management Systems (LIMS).

The equipment sector had the largest market share of 70% in 2023, owing to an increased need for bio-banking to preserve stem cells, DNA, plasma, and tissue culture. Biopreservation equipment is a collection of apparatus and tools to store, handle, and treat biological samples. This includes ultra-low-temperature freezers, cryogenic storage tanks, automated sample handling systems, and thawing equipment. Ultra-low temperature freezers keep samples below -80°C, or even -150°C, assuring long-term preservation. 

Cryogenic storage tanks use liquid nitrogen or other cryoprotectants to keep samples at extremely low temperatures for long periods. Automated sample handling systems simplify sample preparation, inventory management, and retrieval, improving efficiency and integrity. Thawing devices allow for the quick and controlled thawing of cryopreserved materials while minimizing cell damage. The widespread adoption and use of preservation has benefited from substantial storage capacity and minimal maintenance, which is projected to drive the industry. 

The media segment has the potential to expand because it is an essential component of the biopreservation process. Biopreservation media are specific formulations that protect cells, tissues, and organs throughout storage and transit. These media contain cryoprotectants, antioxidants, osmotic agents, and buffering components to keep cells alive and functional. Cryopreservation media reduce ice crystal formation, osmotic stress, and cellular damage during freezing and thawing. 

Moreover, media apps provide more features and details, allowing researchers to access and share research data and analysis, enhancing their ability to explore, diagnose, monitor, and treat health issues. This tendency is expected to fuel market expansion throughout the forecast period.

The market can be bifurcated by application into Regenerative Medicine, Bio-banking, and Drug Discovery.

The biobanking category dominated the global market, accounting for 75%. Biobanking is collecting, processing, storing, and disseminating biological specimens for research, clinical trials, and demographic studies, such as blood, serum, plasma, tissues, and genetic materials. Biobanks store a wide range of human samples and data, allowing researchers to study illness molecular pathways, identify biomarkers, and develop new diagnostics and therapies. Biopreservation technologies assure biobank samples' long-term stability and integrity, preserving their molecular signatures and clinical utility. Biobanks serve various purposes, including cancer research, pharmacogenomics, epidemiology, and customized treatment.

Additionally, stem cell preservation is gaining popularity, as is sperm and egg banking and assisted reproductive technology with animals. Pharmaceutical corporations collaborate with reserve biobanks and hospitals to preserve tissues.

The regenerative medicine category is predicted to develop at a higher CAGR over the forecast period due to rising demand for technologically sophisticated bio-storage techniques. Biopreservation is crucial in regenerative medicine because it preserves cells, tissues, and bioengineered constructions employed in therapeutic applications. Stem cells, progenitor cells, and tissue-engineered grafts are kept under controlled conditions in regenerative medicine to ensure their viability, functioning, and potency. These preserved materials are helpful for cell-based therapeutics, tissue engineering, and organ regeneration. In addition, introducing specific preservation procedures is projected to drive category growth in the following years.

Recent Developments

• February 2024- Azenta introduced BioArc™ Ultra, an automated solution for efficient, eco-friendly ultracold sample management.
• February 2024- LabVantage introduced a digitally native ecosystem to boost speed and success in R&D laboratories.
• April 2024- Thermo Fisher Scientific introduced new ENERGY STAR Certified TSX Universal Series ULT Freezers for Improved Temperature Control and Faster Recovery Times.