
According to a latest market research report published by Transparency Market Research, a U.S-based market intelligence firm, a continuous rise in research activities in the field of biomedical sciences, rendered by the rising global demand for new medicines and medicinal therapies, will be one of the major factors leading to the growth of the global biopreservation market. As research activities increase, there would be an added demand for the procurement, preservation, processing and banking of biospecimen. This will lead to added demand for storage facilities that are adequate enough to accommodate the samples as well as to retain their stability. This will lead to additional demand for equipment such as refrigerators, freezers, liquid nitrogen tanks and consumables, along with media and laboratory information management systems (LIMS).