Global Biopreservation Market expected to reach USD 19.8 billion by 2033, driven by biomedical research advancements.

From GlobeNewswire: 2024-06-10 14:00:00

The Global Biopreservation Market is expected to grow from USD 2.7 billion in 2023 to USD 19.8 billion by 2033, with a CAGR of 22.05%. Biopreservation involves extending the life of biological materials outside their natural habitat, using microorganisms to improve food safety. Biospecimens like tissues and DNA are preserved for medical research, contributing to the market’s rapid growth. The media segment is projected to dominate the market, followed by research and bio-banking applications. North America leads the market due to biomedical research advancements and higher demand for medication. Meanwhile, Asia Pacific is expected to grow rapidly, driven by increased R&D spending and public awareness of benefits. Major players in the market include Thermo Fisher Scientific, Merck KGaA, and BioLife Solutions. Recent developments include Thermo Fisher Scientific’s launch of new ULT freezers and Avantor’s partnership with Tobin Scientific for biopharma storage solutions. The market is segmented by product, application, end-users, and region, with North America, Europe, and Asia Pacific being key regions driving market growth. Other related reports include Global Multi-omics Market Size, Global Nasal Cannula Market Size, and Global Electrical Stimulators Market Size.



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