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Prominent Players:

The major players in the biopreservation media & equipment market include Thermo Fisher Scientific, Inc. (U.S.), Sigma-Aldrich Corporation (U.S.), VWR Corporation (U.S.), Biolife Solutions, Inc. (U.S.), Lifeline Scientific, Inc. (U.S.), Cesca Therapeutics, Inc. (U.S.), BioCision, LLC (U.S.), Core Dynamics, Ltd. (Israel), Custom Biogenic Systems, Inc. (U.S.), So-Low Environmental Equipment Co., Inc. (U.S.) and Princeton Cryotech, Inc. (U.S.).

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Geographical Analysis:

The geographic segments included in this report are North Americas, Europe, Asia and Rest of the World (RoW). North America has the largest share of this market in 2015, while Asia is expected to grow at the fastest rate during the forecast period.

Growth in the Asian biopreservation media & equipment market will primarily be driven by the increasing healthcare spending and growing population in this region.

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Market Dynamics:

Increasing healthcare expenditure will aid the growth of the biopreservation market. Healthcare expenditure constitutes a significant part of the development budget of all countries. It consists of spending by both public and private sources on medical goods and services. Rapid economic development across the globe is expected to improve access to quality healthcare. Increasing healthcare expenditure will lead to a rise in the demand for quality healthcare and will be an important growth driver for the biopreservation market.

According to estimates from the World Bank, global healthcare spending increased at a CAGR of 6.97% from 2003 to 2013, from USD 3,786 Billion in 2003 to USD 7,427 Billion in 2013. In this period, public healthcare spending increased at a CAGR of 7.28%, from USD 2,198 Billion in 2003 to USD 4,440 Billion in 2013. This high growth rate, along with the substantial size of healthcare spending, will act as an important driver for biobanks, hospitals and gene banks, which are the major end-user segments of the biopreservation media & equipment market.

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