Cell & Tissue Preservation Market Size will Observe Lucrative Surge by the End 2031 – openPR

Cell & Tissue Preservation Market: Introduction

According to the report, the global cell & tissue preservation market was valued at US$ 2.95 Bn in 2020. It is projected to expand at a CAGR of 11.9% from 2021 to 2031. Cell & tissue preservation must be maintained at appropriate temperatures to preserve integrity of the tissue. The receiving facility is responsible for maintaining records; documenting that allograft tissue is maintained at adequate environmental requirements during transportation and stored as per the manufacturer's recommendations for the specific tissue.

The current methods of cell & tissue preservation involve freeze-drying, deep-freezing, and cryopreservation. Each of these techniques could be utilized for storage of ligament and meniscal allografts. Deep-freezing is a highly common preservation method for ligament and meniscal allografts, entailing simply freezing the tissue to -80C. The grafts could be preserved for 3 to 5 years. In the freeze-drying process, moisture is removed from the tissue and the graft is vacuum packaged.

It could be stored at room temperature for 3 to 5 years; however, it requires rehydration before implantation. Deep-freezing and freeze-drying allograft tissue reduces immunogenicity by killing antigen-bearing cells. Cryopreservation is a process of controlled-rate freezing with extraction of cellular water by means of glycerol and dimethyl sulfoxide. This process preserves some cells and provides a 10-year shelf life.

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Increase in Healthcare Expenditure

The increase in healthcare expenditure is estimated to further allow access to quality healthcare and advanced products that include biopreservation facilities, thereby broadening growth prospects. Additionally, gene banks, hospitals, and biobanks that are significant end users of the market, are encouraging most players to develop technologically advanced biopreservation products to enhance patient outcomes. The presence of government healthcare initiatives that provide funds, grants, and contracts for research has fueled R&D activities deployed by various companies. This, in turn, has boosted the scope for adoption of advanced bio-preservation services, which, in turn, is anticipated to fuel the penetration rate during the forecast period.

Rising R&D investments by companies and research communities to improve their capabilities and render efficient products & services are estimated to further create opportunities. For instance, the establishment of the Cooperative Human Tissue Network (CHTN), which addressed the operational dimension of bio-banking, exemplifies consistent efforts by the research community.

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Tissues to Lead Cell & Tissue Preservation Market

In terms of type, the global cell & tissue preservation market has been classified into cells & tissues. Cells have been split into mammalian cells and others (microorganisms and plant cells). The tissues segment has been split into blood, bone, soft tissues, skin, and others. The tissues segment accounted for 47.6% share of the market in 2020. The segment is anticipated to expand at a CAGR of 11.7% from 2021 to 2031.

Rising investments in the field of regenerative medicine research is projected to boost the cell & tissue preservation market. The knowledge of human cells and tissues being used for further research and development novel treatment therapies led to the introduction of bio banking. Collection, processing, and storage of the samples and the regarding data are the basic function of biobanks.

Therapeutics to Dominate Cell & Tissue Preservation Market

Based on application, the global cell & tissue preservation market has been categorized into therapeutics, research & development, drug discovery, and others. The therapeutics segment accounted for 40.1% share of the cell & tissue preservation market in 2020. The segment is projected to expand at a CAGR of 11.8% from 2021 to 2031. Clinical/therapeutic applications majorly utilize tissue banking, as it involves different types of grafting such as cord blood, stem cell, and others.

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Equipment to be Highly Lucrative Segment

In terms of product, the global cell & tissue preservation market has been divided into equipment, bio preservation media, and software. The equipment segment has been further sub-segmented into freezers, thawing equipment, refrigerators, storage systems, and others. The bio preservation media segment has been further bifurcated into home-brew media and pre-formulated media. The equipment segment was valued at US$ 2,026.1 Mn in 2020 and is projected to reach US$ 6,805.9 Mn in 2031, expanding at a CAGR of 11.8% from 2021 to 2031. This can be attributed to an increase in the demand for biobanks for the past few years and its extensive usage in DNA, plasma, stem cell, and tissue research.

Biobanks to be Key End User

Based on end user, the global cell & tissue preservation market has been divided into biobanks, hospitals & others. The biobanks segment accounted for 68.7% share of the market in 2020. The segment is projected to gain market share marginally to reach 70.5% in 2031. This can be attributed to the growing awareness among researchers about the benefits of stem cells preservation. Furthermore, increasing number of sperm & egg banks and adoption of assisted reproductive technology in animals are key factors estimated to fuel the cell & tissue preservation market growth.

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North America to Lead Cell & Tissue Preservation Market

In terms of region, the global cell & tissue preservation market has been divided into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. North America is projected to be a highly attractive market and exhibit an attractiveness index of 2.0 during the forecast period. The market in the region is anticipated to expand at a higher CAGR from 2021 to 2031, owing to consistent drug developments as well as advent of advanced therapies in the field of biomedical research.

A significant rise in patient base requiring high-end treatment of chronic diseases is also responsible for the high demand for biopreservation products and services across the region. Major pharmaceutical companies are engaged in the commercialization of advanced preservation equipment and their subsequent adoption in the research community.

Competition Landscape

The global cell & tissue preservation market is fragmented due to the presence of a large number of prominent players. Key players operating in the global cell & tissue market include Thermo Fisher Scientific, Inc., Lonza, BD, Merck KGaA, Cytiva, Agilent Technologies, Inc., Avantor, Inc., FUJIFILM Irvine Scientific, BioLifeSolutions Inc., AMSBIO, Princeton CryoTech, STEMCELL Technologies Inc., LGC SeraCare, Corning Incorporated, and CellGenix GmbH.

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Cell & Tissue Preservation Market Size will Observe Lucrative Surge by the End 2031 - openPR