Flourishing Biopreservation Market: Current State, Key Companies, Future Directions
Published Date: 26 Jun 2023
The Global Biopreservation Market has witnessed noteworthy growth in recent years and is set to record around 17.48% CAGR during 2023-28, on the back of the mounting demand for the efficient preservation of biological samples, significant advancements in regenerative medicine, increasing biobanking activities, and the rising prominence of personalized medicine. Many governments and funding organizations worldwide are actively supporting biopreservation research & infrastructure development through substantial financial support in order to promote advancements in healthcare, personalized medicine, & regenerative therapies and promote the adoption of biopreservation solutions.
The emergence of advanced biopreservation technologies like automated storage systems, liquid nitrogen-based cryopreservation, & novel cryoprotectants has enhanced the efficiency & effectiveness of sample preservation, which is another notable aspect fueling the growth of the global biopreservation market. Several key companies have emerged as leaders in this industry and are offering innovative solutions for the storage & preservation of biological specimens. Let's delve into some of the major companies operating in the market and their recent developments.
- Thermo Fisher Scientific is a well-renowned player in the biopreservation industry and offers a wide range of products & services for sample storage & management. It provides a comprehensive portfolio of biopreservation media, cryopreservation reagents, and laboratory equipment. In recent years, Thermo Fisher Scientific has focused on expanding its product portfolio through strategic acquisitions, such as the acquisition of Becton, Dickinson and Company's Advanced Bioprocessing business. This move has strengthened Thermo Fisher Scientific's position in the biopreservation market and expanded its capabilities in cell & gene therapy.
- BioLife Solutions specializes in providing biopreservation media and automated cell thawing systems. Its proprietary biopreservation media, such as HypoThermosol & CryoStor, are widely used in the storage & transportation of cells, tissues, & organs. The company has been actively involved in collaborations & partnerships to enhance its product offerings. In recent years, BioLife Solutions has partnered with leading cell & gene therapy companies, including Takeda Pharmaceutical Company and Lonza Group, to develop customized biopreservation solutions. Moreover, it also acquired SAVSU Technologies, a company specializing in advanced cold chain management systems, to strengthen its capabilities in temperature-controlled storage & transportation solutions.
- Panasonic Healthcare Holdings, a subsidiary of Panasonic Corporation, provides a range of biopreservation solutions, including ultra-low temperature freezers, CO2 incubators, and laboratory equipment. The company focuses on developing energy-efficient and environmentally friendly solutions for sample storage and preservation. Panasonic Healthcare Holdings has recently introduced advanced features in their freezers, such as touch screen interfaces and remote monitoring capabilities.
- X-Therma is a renowned & innovative company in the biopreservation industry, and with its cutting-edge solutions, it is revolutionizing the field of biopreservation by providing advanced technologies for the storage & transport of biological materials. In recent years, X-Therma has made significant strides in advancing its technology and expanding its presence in the global biopreservation market. The company has successfully secured substantial funding from investors and formed strategic partnerships with leading organizations & research institutions. It has also introduced new solutions tailored to specific applications, including regenerative medicine, cell therapy, & organ transplantation. The company's commitment to continuous innovation and dedication to solving the challenges of biopreservation has positioned it as a prominent player in the global market.
- VWR International, a leading global distributor of laboratory supplies and equipment, also offers a range of biopreservation products. They provide a wide selection of cryogenic storage systems, sample containers, and protective packaging solutions. VWR International has been working closely with manufacturers and suppliers to ensure a reliable supply chain for biopreservation products. They have also invested in digital solutions and e-commerce platforms to streamline the procurement process for customers.
The global biopreservation market is highly competitive and constantly evolving with developments in technology & research. Many companies are heavily investing in R&D to introduce innovative solutions for sample storage, transportation, & preservation. In addition, they are also involved actively in collaborations, partnerships, & acquisitions to expand their product portfolios and gain a competitive edge in the market.
The world continues to witness advancements in regenerative medicines that offer promising solutions to treat & cure chronic diseases like cardiovascular disorders, neurodegenerative conditions, & orthopedic injuries by leveraging the regenerative properties of cells, tissues, & organs. Moreover, as biopreservation technologies enable the long-term storage of these samples and facilitate ongoing studies along with the development of targeted therapies, there's a rising focus on rare diseases & orphan drugs, i.e., necessitating the preservation of biological samples from patients for R&D purposes and, consequently, spurring growth in the market.