Biopreservation Market Will Reach $9.34 Billion By 2022: Grand View Research, Inc.
The
global biopreservation market is expected to reach USD
9.34 billion by 2022, according to a new report by Grand View Research Inc.
Increasing demand for novel bio-preservation techniques and constantly rising
healthcare expenditure is expected to boost the market growth over the forecast
period. Adoption of in-house sample storage system by hospitals, biotechnology
and pharmaceutical companies is one of the critical success factors for the
growth of the industry over next seven years.
Additionally,
increasing R&D investments by various research organizations and companies
to enhance their capabilities to render efficient and effective products &
services is a high impact rendering driver expected to boost bio-preservation
market growth. Furthermore, as a consequence of technological advancements such
as introduction of virtual bio-banks, bio-preservation is witnessing increased
application in end-use hence boosting the growth of bio-preservation market.
North
America biopreservation market, by product, 2012-2022 (USD Million)
Browse full research report on biopreservation
market: http://www.grandviewresearch.com/industry-analysis/biopreservation-market
Further Key
Findings from the Study Suggest:
- Equipment dominated the overall product segment
in 2014, with the revenue share of over 80%. Key factors attributing to
its large share include rising demand of bio-banks coupled with high cost
for preservation of bio-specimens.
- Media, which encompasses pre-formulated and
home-brew media is expected to witness high growth over the forecast
period as a consequence of their wide usage in regenerative medicines.
- Bio-banking dominated was the key application
segment of bio-preservation in 2014, with lucrative market share owing to
increasing number of organ and tissue transplantations, high patient
awareness levels and rise in healthcare expenditure.
- Regenerative medicine is estimated to grow at a
rate of over 18% as a result of huge investments made by government, and
non government organizations in the field of regenerative cell therapy
research.
- Tumor cells held the largest share in volume
terms in 2014, owing to their wide applications in research &
development, diagnosis, and treatment of highly prevalent cancer.
- North America dominated the overall industry in
2014 with over 45% revenue share majorly due to favorable government
regulations in North America which are supporting the ethical usage and
sharing of biological samples.
- Asia Pacific is expected to grow at substantial
rate during the forecast period as a consequence of high unmet needs
amongst the population in the region coupled with constantly improving
healthcare infrastructure as a result of government initiatives such as
Make In India.
- Key players of the bio-preservation market
include BioCision, Biomatrica, BioLife Solutions Inc., Chart MVE
Biomedical, LabVantage Solutions Inc., Atlanta Biologicals, Panasonic
Biomedical, Thermo Fisher Scientific Inc. and Qiagen. These companies are
involved in various developmental strategies such as mergers and
acquisitions to sustain their market share.
Access
Press Release By Grand View Research: http://www.grandviewresearch.com/press-release/global-biopreservation-market-analysis
About
Grand View Research, Inc:
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, the company offers market intelligence
studies ensuring relevant and fact-based research across a range of industries
including technology, chemicals, materials, healthcare and energy.
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