According to the Market Statsville Group (MSG), the global bio preservation market size is expected to grow from USD 1.76 billion in 2021 to USD 3.49 billion by 2030, at a CAGR of 8.9% from 2022 to 2030. Bio preservation refers to the use of controlled antibacterial products or natural products to preserve, such as plasma, cells, tissues, saliva, and organs, outside of their native environment. Rising funding from government and private partners in healthcare, increasing R&D investments, growing advancement of product development, and rising investments in regenerative medicine research are the primary factor that drives the growth of the market in this industry. The high cost of advanced methods and tissue injury during the freezing and thawing are affecting or hindering the market growth in this industry all over the globe. The increasing demand for room temperature storage technologies is to further create opportunities for bio preservation all around the globe in the upcoming forecasting period.
Bio preservation refers to the use of controlled antibacterial products or natural products to preserve, such as plasma, cells, tissues, saliva, blood, Agri product, and organs, outside of their native environment. The equipment consists of refrigerators, liquid nitrogen banks, and freezers that ensure the stability and purity of the biological materials. This will increase or extends its shelf life. It also helps in the food sector to extend or to increase the shelf life of the end-product, as it exploits the antimicrobial properties of pathogens on food products. Bio preservation exhibits non-toxic, non-immunogenic, thermo-resistance, and broad bactericidal activity due to its attributes, it is widely used in healthcare facilities to store clinical trial materials, conduct genomic research, perform organ transplants, and conduct studies on cells. The bacteria that are used in food grade Bio preservative are Lactobacillus, Lactococcus, Pedi coccus, Leucon Stoc, Carnobacterium, and Enterococcus. The most commonly used bio-preservatives are essential oils, bacteriocins herbs, spices, fermentation, sugar, salt, and vinegar. They exhibit growth inhibition of various microorganisms that are added at different concentrations to preserve food products.
In the wake of the COVID-19 pandemic, the market was severely hindered by shortages of raw materials, unavailability of raw materials, and a lack of opportunities for research activities and other reasons. The pandemic has also increased the growth of vaccine technologies and novel biologics. This pandemic has posed significant challenges for bio preservation supply chains globally. Multiple lockdowns around the world continue to slow or even temporarily stop the flow of raw materials and finished goods globally.
Bio-preservation is a technique from which the shelf life of food can be extended by using natural or controlled microbiota or antimicrobials. An increase in the work hours of the consumer or population has distinctly changed their lifestyles, and consequently, their eating habits. These changes in their lifestyle are demanding bio preservation food products that provide convenient consumption and longer shelf life of food products without harming their nutrients. Hence the increase in population leads to an increase in demand for bio preservation food in the food & beverage industry. The rising demand for foods with extended shelf life has shown a high impact on the bio preservation industry all around the globe.
The process of bio preservation involves costly processes and equipment, making it one of the most expensive preservation techniques. Bio preservation has a major stability issue with occurrences of tissue injuries during freezing and thawing. There will be a slowdown in the market growth due to the development of cheap and cost-effective preservation techniques like room temperature preservation.
A large amount of public and private money has been invested in new drug development activities, which could potentially help combat chronic diseases that are on the rise. There has been an increase in investments toward the provision of advanced products and high-quality healthcare that includes bio preservation facilities as part of the major surge in investments.
The increase in number of bio-banks, which preserve biospecimens specifically has created massive growth opportunities in the field of bio preservation industry. Governments across the different countries are taking multiple initiatives to support the cell therapies in the treatment of various diseases. Government healthcare initiatives are providing contracts, grants and funds for research work, which has led to increase of expenditure in R&D activities by organizations. All these factors are majorly increased the demand for bio preservation techniques and helps them to create lucrative market opportunities.
The study categorizes the bio preservation market based on component, waste type, method, and application at the regional and global levels.
Based on type, the global bio preservation market is divided into Bio preservation Media, Biospecimen Equipment, Freezers, Cryogenic Storage Systems, Thawing Equipment, Refrigerators. The bio preservation media segment is expected to account the highest CAGR during the forecasting period. Researchers have more access to and share research data and analyses through media applications, which will improve their ability to research, diagnose, monitor, and treat health disorders, which are expected to drive the market.
The equipment segment will be dominating share in the global market and is expected to register a significant revenue during the forecasting period. A growing government initiative combined with increase in investments in research and development will support the treatment of multiple chronic diseases and degenerative conditions with cell and gene therapies.
North America dominates the bio preservation market because the stable drug expansions as well as advanced therapies in the field of biomedical research. As chronic diseases become more prevalent in the region, bio preservation becomes more prevalent. Rising awareness of personalized medicines, growing research activities related to regenerative medicines and growing cases of obesity are the major factors driving the regional market growth.
The Asia-Pacific region is anticipated to accounts the highest CAGR for the forecasting period. Government initiatives, a rise in chronic diseases and degenerative conditions, and increased research investments are major factors that facilitate regional market development.
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