London, 21 September 2015 – Technavio has published a new report on the global biopreservation market, which is expected to grow at a CAGR of about 17% from 2015-2019.
About the Report
In accordance with the latest report by Technavio, more than 100 million children are immunized with vaccines for diseases such as hepatitis B, diphtheria, polio, and measles every year worldwide. According to WHO, the vaccine industry will grow to USD 100 billion by 2025 at a growth rate of 10%-15% annually.
“Vaccines for diseases such as hepatitis B, diphtheria, polio, and measles are temperature sensitive and maintaining the potency of these vaccines requires proper storage and transportation,” says Faisal Ghaus, Vice President of Technavio.
The latest report by Technavio also emphasizes the adoption of in-house sample testing and storage solution, which can reduce the overall processing time and money for manufacturers.
“A contract testing laboratory can take approximately three days for sampling and to receive results, whereas in-house testing can reduce that time to 30 minutes. Therefore, the implementation of in-house sample testing is a trend, which is expected to propel the market growth,” adds Ghaus.
Market Scope and Calculation of Market Size
The new Technavio report covers the present scenario and growth prospects of the global biopreservation market from 2015-2019. To calculate the market size, we consider revenue generated from the sales of biopreservation storage equipment, freezing media, and other cryoware accessories.
Key Information Covered in the Report:
Key Vendors:
- BioCision
- BioLife Solutions
- Thermo Fisher Scientific
Market Growth Drivers:
- Growing demand for temperature-sensitive vaccines and biologicals
- For a full detailed list, view our report.
Market Challenges:
- Limitations of organ preservation
- For a full detailed list, view our report.
Market Trends:
- Preserving human cells for regenerative medicine
- For a full detailed list, view our report.
https://www.technavio.com/%3Cp%3E%3Cstrong%3E%3Ca%20href%3D%22http%3A//ww…
