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. ...