Northrook, IL -- (SBWIRE) -- 06/26/2020 -- According to the new market research report "Biopreservation Market by Type (Media (Sera), Equipment (Thawing Equipment, Alarms, Freezers)), Biospecimen (Human Tissue, Stem Cells, Organs), Application (Therapeutic, Research, Clinical Trials), End User (Hospitals, Biobank) - Global Forecast to 2025", published by MarketsandMarkets™, the Biopreservation Market is projected to reach USD 4.9 billion by 2025 from USD 3.1 billion in 2020, at a CAGR of 9.1% between 2020 and 2025.

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Increasing R&D investments, advances in biobanking and the growing trend of conserving cord blood stem cells of newborns, rising investments in regenerative medicine research, and the increasing demand for personalized medicine are the major factors driving the growth of the biopreservation media and equipment market.

The biopreservation media segment accounted for the largest share of the biopreservation media and equipment market.

Based on type, the biopreservation media and equipment market is segmented into biopreservation media and equipment. The biopreservation media segment accounted for the largest share of the global biopreservation media and equipment market in 2019. The large share of this segment is attributed to the increasing research activities in stem cell therapy, regenerative medicine, and personalized medicine.

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The human tissue samples segment accounted for the largest share of the biopreservation media and equipment market in 2019.

On the basis of biospecimen, the biopreservation media and equipment market is segmented into human tissue samples, organs, stem cells and other biospecimens. The human tissue samples segment accounted for the largest share of the global biopreservation media and equipment market in 2019. The large share of this segment is attributed to the increasing number of biobanks and growth in R&D spending for life science research.

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In 2019, North America dominated the biopreservation media and equipment market, followed by Europe. The major factors driving the growth of this market include increasing research activities in the field of regenerative medicine, rising R&D investment in life sciences research and growing awareness of personalized medicine.

The prominent players in this market include Thermo Fisher Scientific Inc. (US), Merck KGaA (Germany), and Avantor, Inc. (US) ThermoGenesis Holdings, Inc. (US), Bio-Techne Corporation (US), BioLife Solutions, Inc. (US), Exact Sciences Corporation (US), (US), Worthington Industries, Inc. (US), and Chart Industries, Inc. (US).