Global Biopreservation Market By Product (Equipment (Freezers, Refrigerators, and Consumables {Vials, Straws, Microtiter, Bags}, and Liquid Nitrogen), Media (Pre-formulated and Home-brew), and Laboratory Information Management System [LIMS]), By Application (Regenerative Medicine (Cell Therapy, Gene Therapy, and Others), Biobanking (Human Eggs, Human Sperm, and Veterinary IVF), and Drug Discovery), By Cell Provider (CD34+, CD19+, MSC, iPSC, hESC, Tumor Cells, and Others), Region and Companies – Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2024-2033

Report Overview

The Global Biopreservation Market size is expected to be worth around USD 35.3 billion by 2033 from USD 2.9 billion in 2023, growing at a CAGR of 28.4% during the forecast period 2024 to 2033

Biopreservation is experiencing growth driven by several factors, including its widespread use in hospitals and laboratories, increased funding from government and private healthcare partners, and advancements in product development and research. For example, in April 2021, BioLife Solutions introduced a high-capacity controlled freezer tailored for the cell and gene therapy market, expanding its product portfolio.

Despite facing significant challenges during the COVID-19 pandemic, such as supply chain disruptions and shortages of raw materials, the pandemic also accelerated the development of novel biologics and vaccine technologies. This has created new opportunities for biologics manufacturing and preservation, increasing demand for biopreservation. Biopreservation is crucial for maintaining the integrity and functionality of biological products like stem cells, DNA, tissues, and organs by preserving them under various temperatures, thus extending their viability outside their natural environment.

Technological innovations, including predictive models, microarrays, and advanced API algorithms, have streamlined the biopreservation process, reducing time, cost, and complexity. The emergence of multiplex cellular imaging platforms is expected to further enhance biopreservation capabilities, aiding in disease understanding and the development of diagnostic and treatment measures, particularly in gynecology, cardiology, and point-of-care applications.

The rising incidence of chronic diseases globally has driven demand for biopreservation in the research and development of immunotherapies, enzyme technology, vaccine production, antibody production, and biologically produced chemicals. For instance, the Centers for Disease Control and Prevention identifies cardiovascular disorders and cancer as leading causes of disease-related mortality among adults in the U.S.

Key Takeaways

• Market Size: Global Biopreservation Market size is expected to be worth around USD 35.3 billion by 2033 from USD 2.9 billion in 2023.
• Market Growth: The market growing at a CAGR of 28.4% during the forecast period 2024 to 2033.
• Product Analysis: The equipment segment led in 2023, claiming a market share of 44.4%.
• Application Analysis: The biobanking held a significant share of 50.0% in 2023.
• Cell Provider Analysis: The tumor cells segment had a tremendous growth rate, with a revenue share of 38.5% in 2023.
• Regional Analysis: North America dominated the market with the highest revenue share of 42.2% in 2023.
• Regulatory Impact: Stringent regulations regarding the handling and storage of biological samples influence market dynamics and compliance requirements.
• Research and Development: Increased investment in research activities by biopharmaceutical companies supports the demand for biopreservation for sample storage.

By Product Analysis

The equipment segment led in 2023, claiming a market share of 44.4% owing to advancements in cryopreservation systems, refrigerators, and freezers designed to store biological samples at optimal conditions. The increasing demand for advanced storage equipment arises from the expansion of cell and gene therapy research, which requires precise temperature control for sample preservation. Additionally, the adoption of automated preservation devices and the integration of innovative technologies in laboratory equipment, including LIMS, is expected to enhance efficiency and reliability in sample management.

The rising focus on personalized medicine and regenerative therapies further fuels the demand for sophisticated biopreservation tools. The surge in the number of biobanks and research organizations, coupled with growing government funding, likely drives the expansion of this segment.

By Application Analysis

The biobanking held a significant share of 50.0% due to the increasing demand for long-term storage of biological samples for future research, clinical trials, and personalized medicine. The rising prevalence of chronic diseases such as cancer and cardiovascular disorders has spurred the need for preserving biospecimens for diagnostics and treatment development. As precision medicine gains momentum, biobanks are playing a crucial role in providing high-quality samples for genomic research, drug discovery, and biomarker validation.

Government initiatives and collaborations between research institutions and pharmaceutical companies are also anticipated to support the growth of biobanking, particularly in emerging markets. Furthermore, advances in cryogenic technologies and automation solutions are expected to enhance biobanking processes, driving segment expansion.

By Cell Provider Analysis

The tumor cells segment had a tremendous growth rate, with a revenue share of 38.5% owing to the increasing focus on cancer research and personalized oncology treatments. Tumor cells serve as crucial samples for developing targeted therapies, testing novel drugs, and conducting cancer genomics studies. The rising incidence of cancer globally has fueled demand for the preservation of tumor cells for future research and clinical trials.

Additionally, the adoption of immunotherapies and cell-based cancer treatments is projected to drive the need for preserved tumor cells. Collaborations between biopharmaceutical companies and academic institutions, alongside government funding for cancer research, are likely to contribute to the expansion of this segment. The integration of advanced preservation techniques also ensures the long-term viability of tumor cells, further supporting growth.

Key Market Segments

By Product

• Equipment
  • Freezers
  • Refrigerators
  • Consumables
    • Vials
    • Straws
    • Microtiter
    • Bags
  • Liquid Nitrogen
• Media
  • Pre-formulated
  • Home-brew
• Laboratory Information Management System [LIMS]

By Application

• Regenerative Medicine
  • Cell Therapy
  • Gene Therapy
  • Others
• Biobanking
  • Human Eggs
  • Human Sperm
  • Veterinary IVF
• Drug Discovery

By Cell Provider

• CD34+
• CD19+
• MSC
• iPSC
• hESC
• Tumor Cells
• Others

Drivers

Increasing Healthcare Expenditure

Increasing healthcare expenditure continues to fuel the demand for biopreservation technologies, as healthcare systems prioritize long-term storage of biological materials to support advanced therapies and research. In the United States, healthcare expenditure rose by 4.1% in 2022, reaching USD 4.4 trillion, or USD 13,493 per person, according to the American Medical Association (AMA). Similarly, Canada’s health spending was expected to reach USD 344 billion in 2023, representing 12% of GDP, or USD 8,740 per Canadian.

These rising investments in healthcare are projected to drive the adoption of advanced preservation techniques, such as cell and tissue banking, essential for precision medicine and regenerative therapies. As a result, the biopreservation market is anticipated to experience significant growth in response to these increased financial allocations.

Restraints

Surging Cost of Advanced Techniques

Rising costs associated with advanced preservation techniques are anticipated to hamper the expansion of the biopreservation market. High upfront investments required for acquiring state-of-the-art equipment, such as freezers and cryopreservation systems, act as barriers to entry for many smaller healthcare and research organizations.

For instance, Thermo Fisher Value Lab Upright freezers cost around USD 3,510, while advanced units such as the TSX Universal ULT Freezer can range between USD 11,600 and USD 89,400. Similarly, VWR CryoPro Auto-Fill Systems cost between USD 20,847 and USD 54,341, and the MVE Fusion Series Freezers range from USD 51,295 to USD 62,528. Such high price points are likely to impede broader adoption, particularly in regions or institutions facing budget constraints, potentially slowing market growth.

Opportunities

Growing Popularity of Cryopreservation

Growing interest in cryopreservation techniques offers a significant opportunity for the biopreservation market, as industries increasingly rely on these methods for long-term storage of biological materials. Cryopreservation’s application in regenerative medicine, cell therapy, and organ preservation is projected to enhance the adoption of related technologies. In June 2023, SCTbio collaborated with Cyto-carein to enhance the quality of cryopreservation for cell therapy manufacturing across Europe.

Such strategic partnerships, alongside the rising demand for advanced cryogenic storage solutions, are likely to boost market growth, creating new avenues for innovation in biopreservation technologies. The increasing emphasis on enhancing cryopreservation for clinical and research purposes further underscores the expanding market potential.

Impact of Macroeconomic / Geopolitical Factors

Macroeconomic factors such as inflation, currency fluctuations, and global economic slowdowns create both challenges and opportunities for the biopreservation market. Rising operational costs due to inflation increase the expense of materials and equipment, squeezing profit margins. Currency fluctuations further impact international trade, making it difficult for companies to manage supply chains efficiently. Geopolitical tensions, such as trade wars or regulatory changes, disrupt the flow of critical supplies and hinder market expansion.

However, governments of developed nations continue to allocate significant budgets toward healthcare advancements, driving demand for preservation technologies in sectors like regenerative medicine. Increasing global focus on healthcare infrastructure and rising demand for innovative therapies contribute to steady long-term market growth, fostering innovation and investment in advanced preservation techniques.

Latest Trends

Market Expansion Due to Advancements in Cancer Research

Rising advancements in cancer research are anticipated to propel market growth, as researchers increasingly rely on cryopreservation to maintain the viability of cellular therapies. These techniques are becoming critical to improving product efficacy and shelf life. For instance, Kite Pharma enhanced the stability of its primary oncological product, axacabtagene ciloleucel, by transitioning to a cryopreserved state, extending stability from 18 hours to 2 weeks. This transition eased production limitations and provided logistical flexibility at a lower overall cost.

Such innovations encourage the development of cost-effective preservation media, allowing stakeholders to introduce improved and economically viable solutions. As personalized cancer treatments continue to grow, the biopreservation industry is projected to benefit from sustained demand, fostering technological advancements and driving its expansion.

Regional Analysis

North America is leading the Biopreservation Market

North America dominated the market with the highest revenue share of 42.2% owing to advancements in biobanking, regenerative medicine, and personalized medicine. The rising demand for organ transplants, cell therapies, and vaccines has fueled the need for advanced preservation technologies, such as cryopreservation and hypothermic storage. Additionally, key players in the market have secured significant investments to support innovation and expansion.

For instance, in November 2023, BioLife Solutions raised USD 10.4 million through private placement by Casdin Capital to enhance its biopreservation media and related offerings. This capital injection has allowed the company to scale operations and meet the growing demand for biopreservation solutions across the healthcare sector. Increasing research activities in the biotechnology and pharmaceutical industries further contribute to the sector’s expansion in the region.

The Asia Pacific region is expected to experience the highest CAGR during the forecast period

Asia Pacific is expected to grow with the fastest CAGR owing to rising investments in biopharmaceutical infrastructure and increasing demand for cell therapies. Countries like China, Japan, and South Korea are anticipated to lead the market, with notable investments boosting their respective life sciences sectors. In 2024, Merck invested over USD 321.7 million in a new Bioprocessing Production Center in Daejeon, South Korea, the largest investment by Merck’s Life Science business sector in the Asia Pacific region to date.

This move signals a robust expansion in the region’s biopreservation capabilities, as the facility is expected to support cutting-edge bioprocessing technologies and create approximately 300 additional jobs by 2028. The growing focus on regenerative medicine and biobanking is likely to accelerate market growth in this dynamic region.

Key Regions and Countries

North America

• US
• Canada

Europe

• Germany
• France
• The UK
• Spain
• Italy
• Russia
• Netherland
• Rest of Europe

Asia Pacific

• China
• Japan
• South Korea
• India
• Australia
• New Zealand
• Singapore
• Thailand
• Vietnam
• Rest of APAC

Latin America

• Brazil
• Mexico
• Rest of Latin America

Middle East & Africa

• South Africa
• Saudi Arabia
• UAE
• Rest of MEA

Key Players Analysis

The major players in the Biopreservation market are actively engaged in the development and introduction of innovative products, as well as implementing strategic initiatives aimed at enhancing their competitive positioning. Key players in the biopreservation industry focus on expanding their product portfolios through research and development, aiming to introduce innovative solutions for cell, tissue, and organ preservation.

They collaborate with academic institutions and biotechnology companies to enhance product efficacy and reach new markets. Strategic mergers and acquisitions allow these companies to strengthen their market presence and access advanced technologies. Companies also prioritize scaling their manufacturing capabilities to meet rising demand in regenerative medicine and biobanking. In addition, they invest in regulatory approvals to ensure compliance and expand their global footprint.

Top Key Players

• X-Therma Inc.
• Thermo Fisher Scientific, Inc.
• Taylor-Wharton.
• Stirling Ultracold
• PrincetonCryo.
• Panasonic Corporation
• MVE Biological Solutions
• OriGen
• Biomatrica, Inc.
• BioLife Solutions
• Avantor

Recent Developments

• In 2024, Thermo Fisher Scientific introduced its latest line of ultra-low temperature (ULT) freezers, the Thermo Scientific TSX Universal Series. With advancements in performance, user experience, and energy efficiency, this product line caters to scientists’ needs across a range of laboratory environments. This development signals the growing focus on high-performance, energy-efficient equipment, a critical factor driving the biopreservation market as demand for reliable, sustainable storage solutions continues to rise.
• In 2023, Avantor entered into a strategic partnership with Tobin Scientific, a prominent provider of biopharma cold chain, storage, and transport logistics services. This collaboration aims to provide end-to-end relocation solutions for U.S. biopharma customers, addressing the increasing need for temperature-specific logistics in laboratory and research facility relocations. The rise in demand for such specialized logistics services underscores the expanding complexity of the biopreservation market, where precise temperature control is vital.
• In February 2022, OriGen obtained CE mark approval for its CryoStore FLEX Freezing Bag product line, followed by the product’s global launch. This innovation in freezing technology supports the preservation of biological materials at ultra-low temperatures. The introduction of the CryoStore FLEX bags enhances the availability of advanced biopreservation tools, contributing to the market’s growth as the demand for high-quality, scalable storage solutions expands globally.

Report Scope