U.S. Biopreservation Market (By Product: Laboratory Information Management Systems; By Application: Regenerative Medicine, Biobanking, Drug Discovery) - Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook and Forecast 2024-2033

U.S. Biopreservation Market Size and Trends

The U.S. biopreservation market size was estimated at around USD 1.15 billion in 2023 and it is projected to hit around USD 12.39 billion by 2033, growing at a CAGR of 26.83% from 2024 to 2033.

Key Pointers

• By Application, the biobanking segment held the largest revenue share of 71% in 2023.
• By Application, the regenerative medicine segment is expected to expand at the highest CAGR from 2024 to 2033.
• By Product, the biopreservation equipment generated the maximum market share of 76% in 2023.
• By Product, the media segment is expected to exhibit the fastest compound annual growth rate (CAGR) between 2024 and 2033.

U.S. Biopreservation Market Overview

The U.S. biopreservation market is experiencing significant growth, driven by advancements in biotechnology and increasing demand for effective storage solutions for biological samples. Biopreservation involves the use of natural or synthetic processes to maintain the integrity and functionality of cells, tissues, and organs for extended periods. This market is critical for various sectors, including healthcare, pharmaceuticals, and research institutions.

U.S. Biopreservation Market Growth Factors

The U.S. biopreservation market is witnessing robust growth due to several key factors. Advancements in regenerative medicine, including stem cell and gene therapy, have significantly increased the demand for effective biopreservation techniques to maintain the viability of biological materials. Additionally, the rising prevalence of chronic diseases such as cancer and diabetes has fueled the need for extensive research, necessitating high-quality biopreservation solutions for biological samples. Increased investment in biobanks and biobanking infrastructure also plays a critical role, providing the necessary resources and technology to enhance storage capabilities.

U.S. Biopreservation Market Trends:

• Advancement in Cryopreservation Techniques: Innovations in cryopreservation, including improved cryoprotectants and controlled-rate freezing technologies, are enhancing the viability and longevity of preserved biological samples.
• Growth of Biobanking: The expansion of biobanking facilities, supported by increased funding and technological advancements, is significantly boosting the biopreservation market.
• Integration of Automation and AI: The adoption of automated systems and artificial intelligence in biopreservation processes is improving efficiency, accuracy, and scalability, making it easier to manage large volumes of biological samples.
• Personalized Medicine: The rising focus on personalized medicine is driving demand for precise biopreservation methods to support the development of individualized treatments and therapies.
• Increased Research and Development: Heightened R&D activities in the fields of regenerative medicine, pharmaceuticals, and biotechnology are creating a higher demand for reliable biopreservation solutions.

U.S. Biopreservation Market Restraints:

• High Costs: The initial investment and ongoing maintenance expenses for biopreservation equipment and facilities are substantial, limiting access for smaller institutions and research facilities.
• Storage Capacity Limitations: Despite advancements, there are still limitations in storage capacity, particularly for large-scale biobanks, which can restrict the ability to preserve extensive collections of biological samples.
• Risk of Contamination and Degradation: Ensuring the integrity and sterility of biological samples over long periods remains a challenge, with risks of contamination and degradation posing significant hurdles.
• Variable Quality of Biological Samples: The quality of biological samples can vary, affecting their suitability for preservation and subsequent use in research and therapeutic applications.
• Economic Factors: Economic downturns and budget constraints in healthcare and research funding can impact the availability of resources for investing in biopreservation infrastructure and technologies.

Application Insights

In 2023, biobanking emerged as the largest application of biopreservation, capturing a significant 71% of the market revenue share. The substantial healthcare expenditure in the U.S. underscores the importance of advanced biopreservation techniques in supporting medical research and development. This significance is further reinforced by government healthcare initiatives that provide funding and support for research contracts, actively encouraging the establishment and expansion of biobanks across the country.

The regenerative medicine segment is anticipated to experience the fastest CAGR over the forecast period. Regenerative medicine offers innovative treatment options for various conditions, complementing traditional methods. The segment's growth is driven by rapid advancements in stem cell research, including the discovery of new stem cell sources and improvements in manipulation techniques to enhance safety and efficacy. As regenerative medicine often depends on the preservation of biological materials like stem cells for research and treatment, the demand for advanced biopreservation technologies is increasing to support the progress in this field.

Product Insights

In 2023, biopreservation equipment held the largest market share, accounting for over 76% of the revenue generated. This growth is driven by the rising demand for biobanking and the preservation of valuable biological materials such as stem cells, DNA, plasma, and tissue cultures. The broad acceptance and utilization of biopreservation techniques have significantly fueled the expansion of this market segment. The substantial storage capacity and low maintenance requirements of biopreservation equipment are expected to further enhance its market dominance in the coming years.

The media segment is expected to exhibit the fastest compound annual growth rate (CAGR) between 2024 and 2033. This rapid growth can be attributed to the increasing adoption of media applications in research, which offer enhanced features and detailed information. These advanced applications allow researchers to access and share research data and analyses more effectively, improving their ability to investigate, diagnose, monitor, and treat various health disorders. Consequently, this trend is expected to drive the growth of the biopreservation media segment and contribute to the overall market expansion during the forecast period.

U.S. Biopreservation Market Key Companies

• Azenta US, Inc.
• Biomatrica, Inc.
• BioLife Solutions Inc.
• MVE Biological Solutions
• LabVantage Solutions, Inc.
• Taylor-Wharton
• Thermo Fisher Scientific, Inc.
• Panasonic Corporation
• X-Therma Inc.
• PrincetonCryo
• BioCision LLC
• Lifeline Scientific Inc.
• Merck KGaA
• VWR International, LLC

Recent Developments

• In June 2023, BioLife Solutions launched the IntelliRate i67C, a large-capacity controlled-rate freezer designed to meet the growing demand for higher volume production of cell therapies, thereby expanding its product line to three form factors.
• In March 2023, BioLife Solutions introduced Ultraguard, a groundbreaking phase change material that is non-toxic, non-hazardous, and non-flammable, offering ultra-low temperature protection at −70°C. This innovation serves two main purposes: providing temperature holdover support during power outages in ultra-low temperature (ULT) freezers, and offering a safer, more cost-effective alternative to dry ice for benchtop storage of biological materials.
• In February 2022, OriGen Biomedical Inc. launched the FLEX Freezing Bag from CryoStore in both Europe and the U.S. This innovative product advances cell culture, cryopreservation, and respiratory devices, demonstrating the company's commitment to driving progress in these fields.

U.S. Biopreservation Market Segmentation:

By Product

• Equipment
  • Freezers
  • Refrigerators
  • Consumables
    • Vials
    • Straws
    • Microtiter
    • Bags
  • Liquid Nitrogen
• Media
  • Pre-formulated
  • Home-brew
• Laboratory Information Management Systems (LIMS)

By Application

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