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What is the Expected Growth Trajectory for the Biopreservation Market by 2033?

In recent times, the biopreservation market has witnessed a fast-paced expansion. The market size is predicted to soar from $5.36 billion in 2023 to $5.98 billion in 2024, reflecting a compound annual growth rate (CAGR) of 11.7%. The impressive growth in the past can be credited to several factors such as the amplification of biobanking, surge in stem cell investigation, increasing organ transplant operations, production of biopharmaceuticals, and progress in cell therapy.

The biopreservation sector is predicted to experience a substantial upswing in the coming years, with the market size projected to reach $9.61 billion by 2028, reflecting a compound annual growth rate (CAGR) of 12.6%. Various factors are contributing to this predicted growth during the forecast period, including the rising need for regenerative medicine, personal medicine research and development, cryopreservation applications, global biopharmaceutical supply chain development, and increasing biobanking initiatives. Noteworthy trends during the projection period encompass increased uptake in stem cell banking, a transition towards more advanced preservation solutions, widening of drug discovery and development scopes, the emergence of portable biopreservation appliances, and growing significance in organ transplant procedures.

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What Factors Are Leading to Growth in the biopreservation Market?

The advancement of the biopreservation industry is significantly influenced by the growing need for personalized medicine. This type of treatment is specialized for individuals suffering from specific diseases and it relies heavily on biobanks, institutions that store human tissues and cells through biopreservation. For example, the Swedish Government recently infused SEK 220 million or $1.87 million into the Genomic Medicine Sweden (GMS)’s national infrastructure in September 2021. This move aims to simplify the integration of precision medicine into the Swedish healthcare system, providing more accurate tests and individual-centric care for everyone. The trend of such investments is a reflection of the soaring demand for personalized therapies, thereby fueling the expansion of the biopreservation market in the future.

Which Segments Play a Key Role in Understanding the Biopreservation Market?

1) By Type: Biopreservation Equipment, Biopreservation Media

2) By Biospecimen: Human Tissue Samples, Organs, Stem Cells, Other Biospecimens

3) By Application: Therapeutic Applications, Research Applications, Clinical Trials, Other Applications

4) By End User: Biobanks, Gene Banks, Hospitals, Other End Users

What Trends Are Emerging as Game-Changers in the Biopreservation Market?

Advancements in technology are shaping the biopreservation sector’s landscape, a trend led principally by key participants. These players are adopting novel technologies such as advanced cryopreservation solutions, integration of nanoscale technology, and standardization of hypothermic storage to preserve intricate tissues and organs over time. Cryopreservation, a method of storing substances at an extremely low temperature (-196°C), can occur either rapidly, like in seed storage, or slowly with concurrent dehydration, like in tissue culture. For instance, AMSBIO, a leading provider of high-quality life science research reagents and services, based in the USA, introduced an advanced cryopreservation product, STEM-CELLBANKER EX, in September 2021. This media solution for cryopreservation eradicates the need for the conventional washing processes that are essential during the production of cell therapy products and has showcased outstanding cell viability and recovery rates post-thaw.

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Which Regions Are Setting the Pace for Biopreservation Market Growth?

North America was the largest region in the biopreservation market share in 2023. The regions covered in the biopreservation market market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The Biopreservation Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the biopreservation market, its market share, and analyzes key competitors along with their market positions.

The Table Of Content For The Biopreservation Market Include

1. Biopreservation Market Executive Summary

2. Biopreservation Market Segments

3. Biopreservation Market Size And Template Market Growth Rate

4. Key Biopreservation Market Trends

5. Major Biopreservation Market Drivers

……

25. Key Mergers And Acquisitions In The Biopreservation Market

26. Top Biopreservation Companies

27. Biopreservation Market Opportunities And Strategies

28. Biopreservation Market, Conclusions And Recommendations

29. Appendix

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