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Company > BioLife Solutions Inc: Business Model, SWOT Analysis, and Competitors 2023

BioLife Solutions Inc: Business Model, SWOT Analysis, and Competitors 2023

Published: Feb 23, 2023

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    In this blog article, we will delve into the business model, SWOT analysis, and competitors of BioLife Solutions Inc., a leading provider of biopreservation tools and services. With a focus on preserving and enhancing the viability and function of cells, tissues, and organs, BioLife Solutions has carved a niche in the rapidly growing regenerative medicine market. By examining the company's strengths, weaknesses, opportunities, and threats, we will gain valuable insights into its future prospects. Additionally, we will also explore the competitive landscape to understand how BioLife Solutions positions itself among its rivals in the industry as we look ahead to 2023.

    What You Will Learn:

    • Who owns BioLife Solutions Inc and what their ownership structure looks like.
    • The mission statement of BioLife Solutions Inc and how it guides their operations and decision-making.
    • How BioLife Solutions Inc generates revenue and the different sources of income for the company.
    • An explanation of the Business Model Canvas for BioLife Solutions Inc, highlighting the key elements that contribute to their success.
    • The main competitors of BioLife Solutions Inc in the market and how they compare in terms of products, services, and market share.
    • A comprehensive SWOT analysis of BioLife Solutions Inc, including their strengths, weaknesses, opportunities, and threats in the industry.

    Who owns BioLife Solutions Inc?

    Major Shareholders

    BioLife Solutions Inc. is a publicly traded company, which means ownership is spread among numerous shareholders. However, there are a few major shareholders who hold significant stakes in the company.

    One of the largest shareholders of BioLife Solutions Inc. is Vanguard Group, a renowned investment management company. Vanguard Group owns approximately 2.5 million shares, representing around 9% of the total outstanding shares of the company. With its substantial stake, Vanguard Group has considerable influence over the decisions and direction of BioLife Solutions Inc.

    Another notable major shareholder is BlackRock, a global investment management corporation. BlackRock holds around 1.8 million shares of BioLife Solutions Inc., representing approximately 6.5% of the total outstanding shares. As one of the largest asset managers in the world, BlackRock's ownership demonstrates confidence in the company's potential and could positively impact BioLife Solutions Inc.'s reputation among potential investors.

    Insider Ownership

    In addition to major institutional shareholders, BioLife Solutions Inc. also has significant insider ownership. Insiders, including executives, directors, and employees of the company, hold a considerable number of shares. This ownership aligns their interests with those of the shareholders, as they have a direct stake in the success of the company.

    Mike Rice, the President and CEO of BioLife Solutions Inc., is one of the notable insiders with significant ownership. Rice owns approximately 422,000 shares, representing around 1.5% of the outstanding shares. His substantial ownership signifies his strong belief in the company's growth prospects and showcases his commitment to its success.

    Other insiders, such as members of the board of directors and senior executives, also hold substantial ownership positions. This insider ownership can be seen as a positive sign, as it indicates their confidence in the company's future performance and their willingness to invest their personal wealth in its success.


    BioLife Solutions Inc. is owned by a diverse group of shareholders, including major institutional investors and insiders. Vanguard Group and BlackRock are two of the major shareholders with substantial stakes in the company. Additionally, significant insider ownership further demonstrates the confidence and commitment of key individuals within the company. This combination of ownership provides a solid foundation for BioLife Solutions Inc.'s growth and success in the biotech industry.

    What is the mission statement of BioLife Solutions Inc?

    The Mission Statement of BioLife Solutions Inc: Driving Advancements in Biopreservation

    BioLife Solutions Inc, a leading provider of biopreservation tools and services, has a clear and focused mission statement. Their mission is to drive advancements in biopreservation through innovative technologies, unmatched product quality, and exceptional customer support.

    BioLife Solutions Inc understands the critical importance of preserving biological materials, such as cells, tissues, and organs, for research, clinical, and commercial purposes. They recognize that the success of these endeavors relies heavily on the quality and stability of the biopreservation solutions used. With this in mind, their mission statement serves as a guiding principle to continually improve and offer cutting-edge solutions that address the unique challenges faced by their customers.

    Commitment to Innovation

    At the core of BioLife Solutions Inc's mission lies a commitment to innovation. They strive to stay at the forefront of biopreservation technologies, constantly exploring new possibilities and pushing the boundaries of what is achievable. By investing in research and development, BioLife Solutions Inc aims to introduce novel products and services that enhance the preservation and storage of biological materials.

    Unmatched Product Quality

    BioLife Solutions Inc's mission also emphasizes the importance of unmatched product quality. They understand that reliability, consistency, and safety are paramount when it comes to biopreservation. Through rigorous quality control processes and adherence to industry standards, BioLife Solutions Inc ensures that their products consistently meet and exceed expectations. This commitment to quality instills confidence in their customers, enabling them to advance their scientific research and clinical applications with peace of mind.

    Exceptional Customer Support

    In addition to innovative technologies and superior product quality, BioLife Solutions Inc's mission highlights the significance of exceptional customer support. They recognize that every customer has unique needs and challenges, and they are dedicated to providing personalized assistance and guidance. BioLife Solutions Inc's team of experts is readily available to offer technical support, answer questions, and provide comprehensive training to ensure the seamless integration and utilization of their biopreservation solutions.

    By diligently adhering to their mission statement, BioLife Solutions Inc has established itself as a trusted partner in the biopreservation industry. Their commitment to driving advancements, delivering unmatched product quality, and providing exceptional customer support sets them apart and positions them as a leader in the field.

    How does BioLife Solutions Inc make money?

    Revenue Streams

    BioLife Solutions Inc generates its revenue through various streams. These include:

    1. Sale of Biopreservation Media and Tools

    The primary source of income for BioLife Solutions Inc is the sale of its proprietary biopreservation media and tools. These products are specifically designed to enhance the preservation and storage of cells, tissues, and organs. The company offers a wide range of biopreservation solutions, including CryoStor®, HypoThermosol®, and BloodStor®. These products are widely used by biobanks, research institutions, and biopharmaceutical companies worldwide.

    2. Distribution and Licensing Agreements

    BioLife Solutions Inc has established distribution and licensing agreements with various companies in the biotechnology and healthcare industries. Through these partnerships, the company is able to expand its market reach and generate additional revenue. These agreements allow BioLife Solutions Inc to distribute its products through partner networks and gain access to new customer segments.

    3. Contract Manufacturing Services

    Another revenue stream for BioLife Solutions Inc is its contract manufacturing services. The company offers contract manufacturing to clients who require specialized biopreservation media and tools to support their research and development activities. By leveraging its expertise in biopreservation, BioLife Solutions Inc provides customized solutions to meet the specific needs of its clients, generating revenue through these manufacturing contracts.

    4. Research and Development Grants

    BioLife Solutions Inc also secures research and development grants from government agencies, non-profit organizations, and academic institutions. These grants serve as an additional source of revenue for the company and enable it to invest in innovative technologies and expand its product portfolio. By receiving funding for research and development initiatives, BioLife Solutions Inc can further strengthen its position as a leader in biopreservation.

    5. Royalties and Intellectual Property Licensing

    As a result of its continuous innovation and development of proprietary technologies, BioLife Solutions Inc holds a significant intellectual property portfolio. The company generates revenue by licensing its intellectual property and technology to other organizations in the biotechnology and healthcare sectors. Through these licensing agreements, BioLife Solutions Inc receives royalties, creating a recurring revenue stream.

    Overall, BioLife Solutions Inc utilizes a diversified business model to generate revenue. This approach allows the company to leverage its core capabilities in biopreservation and expand its market presence while maintaining a sustainable financial position.

    BioLife Solutions Inc Business Model Canvas Explained

    What is the Business Model Canvas?

    The Business Model Canvas is a strategic management tool that helps businesses understand, analyze, and communicate their business model. It provides a visual representation of the nine key building blocks that make up a company's value proposition, customer segments, channels, customer relationships, revenue streams, key activities, key resources, key partnerships, and cost structure.

    Understanding BioLife Solutions Inc's Business Model Canvas

    BioLife Solutions Inc is a leading provider of biopreservation tools for the cell and gene therapy industry. Let's take a closer look at how their business model is structured using the Business Model Canvas:

    1. Value Proposition

    BioLife Solutions Inc's value proposition lies in their high-quality and innovative biopreservation solutions. These solutions enable the safe and effective storage and transport of living cells and tissues, which is crucial for the success of cell and gene therapies.

    2. Customer Segments

    BioLife Solutions Inc primarily targets the cell and gene therapy industry, including biopharmaceutical companies, contract manufacturers, and academic research institutions. These customers rely on BioLife's products to preserve the integrity and viability of their valuable biological materials.

    3. Channels

    The company utilizes multiple channels to distribute its products. This includes a direct sales force, e-commerce platforms, distributors, and partnerships with other companies in the biotech industry.

    4. Customer Relationships

    BioLife Solutions Inc maintains strong customer relationships by providing ongoing support and technical assistance. They work closely with their customers to understand their specific needs and develop customized solutions to meet those requirements.

    5. Revenue Streams

    The company generates revenue through the sale of their biopreservation tools and related products. They offer a range of products, including biopreservation media, cryopreservation bags, and shipping containers, which contribute to their diverse revenue streams.

    6. Key Activities

    BioLife Solutions Inc's key activities revolve around research and development to continuously innovate and improve their biopreservation solutions. They also focus on manufacturing high-quality products, marketing and sales efforts, and providing excellent customer support.

    7. Key Resources

    The company's key resources include their proprietary technologies and intellectual property, a skilled workforce, strong relationships with suppliers, and a well-established distribution network. These resources enable them to deliver reliable and effective biopreservation solutions.

    8. Key Partnerships

    BioLife Solutions Inc actively engages in strategic partnerships with other companies in the biotech industry. These partnerships allow them to expand their product portfolio, reach new markets, and enhance their overall value proposition.

    9. Cost Structure

    The company incurs costs related to research and development, manufacturing, sales and marketing, distribution, and customer support. They strive to optimize their cost structure to ensure competitive pricing while maintaining high-quality products and services.

    In conclusion, BioLife Solutions Inc's business model canvas highlights their commitment to providing innovative biopreservation solutions to the cell and gene therapy industry. Their strong value proposition, targeted customer segments, diverse distribution channels, and focus on customer relationships contribute to their success in this rapidly growing market.

    Which companies are the competitors of BioLife Solutions Inc?

    Competitors in the Cell and Gene Therapy Market

    BioLife Solutions Inc. operates in the cell and gene therapy market, which is a rapidly growing industry. As a provider of biopreservation tools and services, BioLife Solutions faces competition from several companies that offer similar solutions and services to the same customer base. Some of the key competitors of BioLife Solutions in this market include:

    1. Thermo Fisher Scientific Inc.

    Thermo Fisher Scientific Inc. is a leading global biotechnology company that offers a wide range of products and services in the field of cell and gene therapy. They provide solutions for cell culture, cryopreservation, and bioprocessing, which directly compete with BioLife Solutions' offerings. Thermo Fisher Scientific's strong presence in the market and extensive product portfolio make them a formidable competitor.

    2. Chart Industries, Inc.

    Chart Industries, Inc. is a prominent player in the cryogenic equipment and systems industry. They offer a variety of products, including cryopreservation systems, storage tanks, and vaporizers, which are essential for the preservation and transportation of cell and gene therapies. Chart Industries' expertise in cryogenic technology and their focus on providing comprehensive solutions make them a direct competitor to BioLife Solutions.

    3. GE Healthcare Life Sciences

    GE Healthcare Life Sciences is a division of General Electric Company that specializes in providing innovative technologies and services for the healthcare industry. They offer a range of products for cell therapy, including cell culture media, bioreactors, and cell processing systems. With their global presence and strong reputation, GE Healthcare Life Sciences competes with BioLife Solutions in the cell and gene therapy market.

    4. Lonza Group Ltd.

    Lonza Group Ltd. is a leading supplier of products and services for the pharmaceutical, biotech, and specialty ingredients markets. They offer solutions for cell and gene therapy, such as cell culture media, cell therapy manufacturing equipment, and process development services. Lonza's extensive experience in the biopharmaceutical industry and their comprehensive product portfolio make them a significant competitor for BioLife Solutions.

    5. Merck KGaA

    Merck KGaA, also known as MilliporeSigma in the United States and Canada, is a global healthcare company that provides a wide range of products and services for the life science industry. They offer solutions for cell therapy research, cell culture media, and cell manufacturing technologies. With their strong global presence and diverse product offerings, Merck KGaA competes with BioLife Solutions in the cell and gene therapy market.

    In conclusion, BioLife Solutions Inc. faces competition from several well-established companies in the cell and gene therapy market. While each competitor brings its own strengths and unique offerings, BioLife Solutions continues to innovate and provide cutting-edge biopreservation tools and services to maintain its position in this competitive industry.

    BioLife Solutions Inc SWOT Analysis


    1. Leading provider in the biopreservation industry: BioLife Solutions Inc is considered a prominent player in the biopreservation industry, offering a wide range of products and services for the preservation of cells, tissues, and organs. With its extensive experience and expertise, the company has built a strong reputation for delivering high-quality solutions to its customers.

    2. Innovative product portfolio: The company boasts an innovative product portfolio that includes biopreservation media, shipping and storage containers, as well as custom packaging solutions. These products have been designed to maintain the viability and functionality of biological materials during transportation and long-term storage, making BioLife Solutions Inc a preferred choice for researchers and clinicians.

    3. Strong intellectual property portfolio: BioLife Solutions Inc has a robust intellectual property portfolio, encompassing patents, trademarks, and trade secrets. This provides the company with a competitive advantage, as it allows for the development of unique and differentiated products that are protected from potential imitations by competitors.


    1. Dependence on a limited customer base: Despite its leading position in the biopreservation industry, BioLife Solutions Inc heavily relies on a limited number of key customers for its revenue generation. The loss of any of these major customers could significantly impact the company's financial performance and market position. Diversification of the customer base should be a priority to reduce this vulnerability.

    2. Reliance on regulatory approvals: The biopreservation industry is subject to stringent regulations and approvals, which can often lead to delays in product launches or market entry. BioLife Solutions Inc's growth and expansion plans may be hindered by the time-consuming and complex nature of obtaining necessary regulatory approvals, creating a potential weakness in terms of market agility.


    1. Growing demand for biopreservation solutions: The increasing prevalence of regenerative medicine, cell therapies, and personalized medicine has created a growing demand for effective biopreservation solutions. BioLife Solutions Inc can capitalize on this opportunity by expanding its product offerings and targeting new customer segments, such as pharmaceutical companies and research institutions.

    2. Strategic partnerships and collaborations: Collaborations with research institutions, academic organizations, and industry leaders can provide BioLife Solutions Inc with access to new technologies, research findings, and market insights. By forming strategic partnerships, the company can enhance its product development capabilities and gain a competitive edge in the biopreservation industry.


    1. Intense competition: The biopreservation industry is highly competitive, with numerous players offering similar products and services. BioLife Solutions Inc faces the risk of losing market share to competitors who may offer more cost-effective or technologically advanced solutions. To mitigate this threat, the company must continuously invest in research and development to stay ahead of the competition.

    2. Economic and regulatory uncertainties: Economic downturns and changes in regulatory policies can have a significant impact on BioLife Solutions Inc's business operations. A recession or changes in healthcare regulations could result in reduced demand for biopreservation solutions or increased compliance costs, potentially affecting the company's financial performance and growth prospects. Monitoring and adapting to these uncertainties should be a priority for the company.

    Key Takeaways

    • BioLife Solutions Inc is owned by various institutional investors, including Vanguard Group and BlackRock.
    • The mission statement of BioLife Solutions Inc is to enable the preservation and enhancement of human and animal cells and tissues through the development and commercialization of innovative biopreservation solutions.
    • BioLife Solutions Inc makes money through the sale of biopreservation media, which are used to store and preserve cells and tissues.
    • The Business Model Canvas of BioLife Solutions Inc includes key elements such as customer segments, value propositions, channels, customer relationships, revenue streams, key resources, key activities, and cost structure.
    • The competitors of BioLife Solutions Inc include companies such as Thermo Fisher Scientific, STEMCELL Technologies, and Miltenyi Biotec.
    • The SWOT analysis of BioLife Solutions Inc highlights its strengths (innovative products, strong customer relationships), weaknesses (dependence on key customers, limited market penetration), opportunities (expansion into new markets, increasing demand for regenerative medicine), and threats (competition, regulatory challenges).


    In conclusion, BioLife Solutions Inc is a leading player in the biopreservation industry. The ownership of the company is widely distributed among institutional investors, with no single owner holding a significant portion of the shares.

    The mission statement of BioLife Solutions Inc is to improve the quality of life for patients by providing innovative biopreservation solutions for the cell and gene therapy industries.

    BioLife Solutions Inc generates revenue through the sale of its proprietary biopreservation media and cryogenic storage products. The company has a robust business model that focuses on providing high-quality products and services to its customers while maintaining strong relationships with key industry players.

    By utilizing the Business Model Canvas, BioLife Solutions Inc has been able to identify and optimize various aspects of its operations, including customer segments, value propositions, channels, and revenue streams. This framework has helped the company achieve sustainable growth and maintain a competitive edge in the market.

    In terms of competition, BioLife Solutions Inc faces several key players in the biopreservation industry. Some of its main competitors include Thermo Fisher Scientific, BioCision, and Chart Industries. However, BioLife Solutions Inc has been able to differentiate itself through its innovative product offerings, strong customer relationships, and a focus on continuous improvement.

    A SWOT analysis of BioLife Solutions Inc reveals the company's strengths, such as its strong product portfolio and strategic partnerships, which have contributed to its market leadership. However, it also highlights weaknesses like the potential for increased competition and the need for ongoing research and development investments. Opportunities for BioLife Solutions Inc include the growing demand for cell and gene therapies, while threats include changing regulatory environments and potential supply chain disruptions.

    Overall, BioLife Solutions Inc has positioned itself as a trusted and reliable provider of biopreservation solutions in the rapidly evolving cell and gene therapy industry. With its strong mission statement, solid business model, and strategic approach to competition, the company is well-positioned for future success and continued growth.


    What is the SWOT analysis of a solution?

    A SWOT analysis of a solution refers to an evaluation of its strengths, weaknesses, opportunities, and threats. It helps in assessing the overall viability and potential of the solution. Here is a breakdown of each component:

    1. Strengths: These are the positive aspects or advantages of the solution. It could be unique features, superior technology, cost-effectiveness, or any other factor that gives it an edge over competitors.

    2. Weaknesses: These are the limitations or drawbacks of the solution. It could be a lack of certain features, potential technical issues, higher costs, or any other factor that may hinder its success.

    3. Opportunities: These are external factors or market conditions that can be advantageous for the solution. It could be emerging trends, increasing demand, changing regulations, or any other factor that presents an opportunity for the solution to thrive.

    4. Threats: These are external factors or challenges that could pose a risk to the success of the solution. It could be intense competition, economic downturns, changing customer preferences, or any other factor that may negatively impact the solution's performance.

    By analyzing the SWOT factors, businesses can understand the potential of the solution, identify areas for improvement, capitalize on opportunities, and mitigate potential threats. This analysis helps in making informed decisions regarding the development, marketing, and implementation of the solution.

    How can I find a SWOT analysis on a company?

    There are several ways you can find a SWOT analysis on a company:

    1. Company websites: Start by visiting the official website of the company you are interested in. Some companies provide SWOT analysis as part of their annual reports or investor presentations.

    2. Industry reports: Look for industry reports from reputable sources such as market research firms, consulting companies, or financial institutions. These reports often include SWOT analysis for major companies within the industry.

    3. Business databases: Access online business databases like Hoovers, IBISWorld, or Business Source Complete, available through libraries or subscription services. These databases often provide comprehensive SWOT analyses on various companies.

    4. Academic sources: Search academic journals, research papers, or case studies related to the company you are interested in. These sources often provide in-depth analysis, including SWOT analysis.

    5. News articles: Read news articles, press releases, or industry magazines that discuss the company. Sometimes, journalists or industry experts provide insights and analysis, including SWOT analysis.

    6. Social media and online communities: Participate in online communities or forums related to the industry or company. Engage with professionals who might have shared or discussed SWOT analysis for the company.

    Remember, a SWOT analysis can vary depending on the source and perspective, so it's essential to cross-reference multiple sources to get a comprehensive understanding of the company's strengths, weaknesses, opportunities, and threats.

    What is a SWOT analysis for a medical company?

    A SWOT analysis for a medical company involves evaluating its strengths, weaknesses, opportunities, and threats. Here is an example:


    1. Highly skilled and specialized medical professionals.
    2. Advanced medical technology and equipment.
    3. Strong reputation and brand recognition.
    4. Extensive network of partnerships with hospitals and healthcare providers.
    5. Efficient and well-established operational processes.


    1. High costs associated with medical equipment and facilities.
    2. Limited geographic reach or market presence.
    3. Dependence on third-party insurers for revenue generation.
    4. Regulatory compliance challenges.
    5. Difficulty in attracting and retaining top talent.


    1. Growing demand for healthcare services due to an aging population.
    2. Expansion into new markets or regions.
    3. Introduction of innovative medical technologies or treatments.
    4. Strategic partnerships with pharmaceutical companies for research and development.
    5. Increasing adoption of telemedicine and digital health solutions.


    1. Intense competition from other medical companies.
    2. Changing government regulations and policies.
    3. Economic downturn affecting healthcare spending.
    4. Litigation risks due to malpractice or product liability.
    5. Shortage of skilled healthcare professionals in certain regions.

    What are 5 examples of weakness in SWOT analysis?

    1. Lack of brand recognition or awareness: This weakness indicates that the company may struggle to compete with well-established brands in the market.

    2. Limited financial resources: If a company has limited access to capital or funding, it may face challenges in expanding its operations or investing in new opportunities.

    3. Inefficient internal processes: This weakness suggests that the company's internal processes may be slow or ineffective, leading to delays, errors, or inefficiencies in its operations.

    4. Dependence on a single supplier: If a company heavily relies on a single supplier for crucial resources or materials, any disruption in the supplier's operations could significantly impact the company's ability to deliver its products or services.

    5. Lack of technological expertise: In today's digital age, lacking technological expertise can be a weakness. Companies that fail to adapt to technological advancements may struggle to remain competitive and meet customer expectations.

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