Global Biopreservation Market Share
The biopreservation market was valued at US$ 4.2 billion in 2020 and is projected to grow at a compound annual growth rate (CAGR) of 10.5% to reach US$ 11.35 billion by 2030. The biopreservation market in the region is divided into five segments: Latin America, North America, Europe, Asia Pacific, and the Middle East and Africa. The increased need for the preservation of blood, solid tissue specimens—such as frozen or paraffin-embedded bio-specimens of tumors—and other tissues—such as bone marrow and peripheral blood cells—as well as cord blood-derived from stem cells and its derivatives—across numerous research institutions, pathological centers, and hospitals, is driving the market in North America. Favorable government policies that facilitate the exchange of biological samples have also been noted in this area.