Advanced Biobanking and Biotechnology

Market Analysis in Biobanking

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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. Biopreservation is used to ensure the stability, quality and purity of biospecimens. With a CAGR of 23.7%, global market value for cryopreservation equipment used in stem cells industry is anticipated to worth US$2.2 billion by 2015. On a global scale, North America accounts for nearly 35% of the market and will likely witness a higher growth rate in the upcoming years, in comparison with Asia-Pacific. While US accounts for the highest share of the global market value on a country basis, India and China surpasses the US in terms of growth rate anticipated in the near future. As per our analysis, freezers represent more than half of the cryopreservation equipment market value while cropreservative reagents stand for a share of close to 20%. The global biopreservation market is poised for rapid growth between 2015 and 2020. The drivers include increasing healthcare expenditure, growing demand for preserving new-born’s stem cells, increasing R&D spending on research, and increasing adoption of regenerative medicine.