Overview

LyoLife™ enables the freeze-drying and storage of genetic material and biological specimens at room temperature for use in research and treatment once rehydrated. In this way, LyoLife greatly reduces many of the costs and risks associated with traditional cryopreservation solutions. Lyolife can serve as a primary storage solution, as a back-up storage solution to traditional cryo-storage, and as a self-storage solution for the end-user.

Research

Sheep peripheral blood lymphocytes & granulosa cells
Freeze-dried somatic cells direct embryonic development after nuclear transfer
P. Loi, K. Matsukawa, G. Ptak, M. Clinton, J. Fulka Jr., Y. Natan, A. Arav

Market

Market size & growth

The Biobanking market is forecast to reach $2.7 billion by 2022, growing by 8% year-on-year

Key trends & information

The major factors driving the Biobanking market include:

  • Advances in biobanking technology and the growing trend of conserving cord blood stem cells of newborns
  • Growing government and private funding to support regenerative medicine research, in particular stem cell therapy
  • Continued pressure across the health care ecosystem to become more cost-effective in drug discovery and development
  • Increasing number of research activities for studying diseases, such as ALS, Alzheimer’s, and other autoimmune diseases

However, the Biobanking market continues to face several constraints

  • Lack of a universally accepted set of defined biobanking regulations and guidelines, and the irregular regulatory frameworks among the developing economies
  • High cost operations – biobanking requires specialized equipment and facilities, continuous liquid nitrogen supply, high energy consumption, extensive manpower, and expensive insurance
  • Public concerns, in particular relating to site failures and loss of samples, e.g. already in 2018 two banks storing eggs experienced power failures, losing thousands of eggs

Source: Biobanking Market by Product and Service, Sample Type, Application – Global Forecast to 2022, Markets & Markets