, April 02, 2018 ) The Asia-Pacific Biopreservation Market
is currently estimated to be a $416.8 Million market in 2016 and is forecasted to reach $883.1 million by 2021 with a significant growth rate of 16.2% in the review period. The growing prevalence of chronic diseases like acute respiratory diseases, diabetes, cardiovascular diseases and cancer has increased the demand for biopreservation. Life sciences companies have been increasingly using biopreservation media to develop cell and tissue related therapies. Many large academic institutions, healthcare institutions, governments, bio technology and pharmaceutical companies are investing in bio banks and biorepositories clinical research.
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Biopreservation is a process where the biological samples are stored in a sustainable environment. Bio-samples that are stored typically include cells, plasma, tissues, saliva, organs and body fluids. To improve the efficiency of biobanks, they are adopting software tools and automated systems. With the growing volume of human bio-samples, there is a need for efficient utilization of storage space down to each freezer unit or a refrigerator. The emergence of Radio Frequency Identification Systems (RFIS) and Micro Electromechanical Systems (MEMS) as an error free and cost effective technology for labelling the bio-specimens, biobanks are able to serve many long term benefits compared to the traditional methods.
The biopreservation market is driven by the rising healthcare spending, increasing demand to preserve new-born’s cord cells, rising R&D expenditure on advances in regenerative market, biobanks and drug discovery. The growth of the market is also fuelled by the advancements in personalized diagnostics medicines and increased facilities in biopreservation applications. However, the market has to overcome a few restraints that is proving to be fatal to the growth of the market which include stability issues of a specimen and high costs relating to biopreservation.
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The Asia-Pacific biopreservation market is categorised by product type as lab information system management, biopreservation media and biopreservation equipment. By bio-specimens, the market is segmented into organs, stem cells, human tissue samples and other bio-specimens. On the basis of application, the market is categorised as research applications, therapeutics applications, clinical trials and other applications. By end-users, the market is divided into hospitals, gene banks, biobanks and others. Based on geography, Asia-Pacific is segmented as China, India, Japan, South Korea and Australia.
The key players in the market are VWR Corporation, Thermo Fisher Scientific, Inc., BioLife Solutions, Taylor-Wharton, So-Low Environmental Equipment Co., Panasonic Corporation, Sigma-Aldrich Corporation, BioCision LLC, Cesca Therapeutics Inc., and Lifeline Scientific Inc.
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