Know More About “Biopreservation Market 2022-2030” Growth Worldwide…..|Grand View Research, Inc.Posted by Mrudula Anil Karmarkar on April 25th, 2023 The global biopreservation market size is projected to reach USD 16.61 billion by 2030, registering a CAGR of 28.9% from 2022 to 2030, according to a new report by Grand View Research, Inc. The extensive use of preservation in hospitals and labs, rising funding assistance from government and private partners in healthcare, and an upsurge in research and development are fueling the industry growth. Currently, there has been an upsurge in demand for the use of biopreservation to develop biological products in R&D of various sectors such as immunotherapies, vaccine production, antibody production, enzyme technology, and biologically produced chemicals. This impact is due to the rising number of chronic disease incidences globally. According to the Centers for Disease Control and Prevention (CDC), the leading cause of disease-related mortality in adults is the rising prevalence of cardiovascular disorders and cancer in the U.S. Furthermore, government and private sectors have shown interest and supported funding activities in research and development, which has contributed to industry growth. In past years, the growing demand for preserving stem cells and developing biological medicines and products has gained investors’ focus on the field. This considerable healthcare spending is expected to grow in the market in the forecast period. The key players are implementing strategic initiatives such as mergers and acquisitions, product development, and business expansions to penetrate the market. In March 2022, Biolife Solutions announced its expansion plan in USD 400 million biostorage service market. In January 2022, Biolife Solutions collaborated with Seattle Children’s to improve viral vector and cell and gene therapy manufacturing. In April 2021, LabVantage announced a partnership with Holo4Med to further expand its healthcare presence in Europe. The market witnessed a significant setback due to the COVID-19 pandemic with supply chain disruption, constraints in resource allocation, and hindrances in research activities, among other reasons. However, the pandemic has also accelerated the growth of novel biologics, vaccine technologies, and the production of biology-based medicines, and has highlighted the applications of synthetic biology. Due to these factors, opportunities for biologics manufacturing and preservation are anticipated to increase, thus generating further demand for bio-preservation. Biopreservation is witnessing growth due to the factors such as extensive usage in hospitals and labs. Rising funding assistance from government and private partners in healthcare, an upsurge in research and development, and growing advancement in terms of product development are the primary factors for demand growth. For instance, in April 2021, BioLife Solutions launched a new high-capacity controlled freezer to cater to the cell and gene therapy market. This helped the company in expanding its existing product portfolio. To Request Sample Copy of this report, click the link: https://www.grandviewresearch.com/industry-analysis/biopreservation-market/request/rs1 The market witnessed a major hindrance during the COVID-19 pandemic with supply chain issues, unavailability of raw materials, and hindrances in research activities, among other reasons. However, the pandemic has also accelerated the growth of novel biologics and vaccine technologies. Due to these factors, opportunities for biologics manufacturing and preservation are anticipated to increase, thus generating further demand for biopreservation. Biopreservation is the process that maintains the integrity and functionality of biological products such as stem cells, DNA, tissues, and organs under different temperatures to prolong their life without their natural environment. Technology innovations include microarrays or the incorporation of a wide range of predictive models, such as hybrid models, and various API algorithms, which help reduce the time, cost, and complexity of the overall process. Furthermore, the advent of multiplex cellular imaging platforms is anticipated to enhance biopreservation ability to help understand disease progression and suggest suitable diagnostic and treatment measures to follow, specifically for cardiology, gynecology, and point-of-care applications. Biopreservation Market Report Highlights
In recent years, there has been an upsurge in demand for the use of biopreservation to develop biological products in R&D of various sectors such as immunotherapies, vaccine production, antibody production, enzyme technology, and biologically produced chemicals. This impact is due to the rising number of chronic disease incidences globally. According to the Centers for Disease Control and Prevention (CDC), the leading cause of disease-related mortality in adults is the rising prevalence of cardiovascular disorders and cancer in the U.S. Furthermore, the government and private sectors have shown interest and supported funding activities in research and development, which has led to immense market developments. In past years, the growing demand for preserving stem cells and developing biological medicines and products has gained investors’ focus on the field. This considerable healthcare spending is expected to grow in the market in the forecast period. However, the growing market for biopreservation is associated with the unavailability of skilled professionals and lacking stringent cyber securities. This is due to the high cost associated with training of labor and standardization of software. This can have an impact on overall market growth. List of Key Players of Biopreservation Market
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