Press release -
Global biobank market for biopreservation media dominated by home-brew media solutions
Biopreservation is a technique used for the storage of cells and tissues in a hypothermic or chemical environment to preserve biological samples with sustained integrity. Cryopreservation, vitrification and hypothermic storage are the common biopreservation procedures used widely in laboratory and clinical settings. The increase in cell-banking systems like adult stem cell banking, tissue banking, and umbilical cord blood banking has led to an increase in demand for the concept of biopreservation.
The global biobank (biospecimen/ biorepository/biopreservation) market for equipment and media is broadly categorised into two segments, namely, biopreservation media market, and biopreservation equipment market.
These markets have been dominated by the US in 2012, followed by Europe, Asia, and Rest of the World (RoW), due to government investments and tremendous research activities in this geographical region.
The global biopreservation media market is valued at $230 million in 2012; and is expected to reach $463 million by 2017. The global biopreservation equipment market is expected to grow from $1,520.0 million in 2012 to $3,478.7 million by 2017.
The global biopreservation media market is dominated by home-brew media solutions, which account for nearly 71% of the market. Apart from home-brew media solutions, while the global biopreservation equipment market has many well-established players including Thermofisher Scientific, Taylor-Wharton, and VWR International.
Biobanks are getting established rapidly and research for treatment of cell and tissue disorders is on the rise. The main application areas driving the biobank (biospecimen/ biorepository/biopreservation) market for equipment and media are advances in regenerative medicine, biobanking and drug discovery. Despite restraints such as financial, ethical, regulatory and reimbursement issues, the biopreservation market is expected to grow in the next five years.
For more information on the global biobank market, see the latest research: Global Biobank Market
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- Health, Health Care, Pharmaceuticals
- global biobank market
- global biobank industry
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