Global Biopreservation Market is Expected to Reach USD 3,731.03 Million by 2020

Date: 2015-08-31

“The global biopreservation market is expected to reach USD 3,731.03 million by 2020 from USD 2,150.48 million in 2015, growing at a CAGR of 11.65% between 2015 and 2020. The product segments included in this report are biopreservation media & biopreservation equipment. The biopreservation media segment is further divided on the basis of type into nutrient media, sera and growth factors & supplements. Biopreservation equipment segment is further divided into temperature control systems, incubators, centrifuges, alarms & monitoring systems, accessories and other equipments. Temperature control systems segment is further classified into freezers, refrigerators, cryogenic storage systems, thawing equipment. On the basis of biospecimens, the report is segmented into human tissue samples, stem cells, organs and other biospecimens. On the basis of applications; the report is segmented into therapeutic applications, research applications, clinical trials and other applications. The therapeutic applications had the largest share of the biopreservation market in 2015. The research application is expected to be one of the fastest growing applications between 2015 and 2020. 

The key driver for this market is increased healthcare expenditures. Furthermore, growing demand for preserving new-born’s stem cells, increasing R&D spending on research, and increasing demand for regenerative medicine will aid the growth of the global biopreservation media & equipment market. 

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