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Global Cryopreservation Equipment Market to Reach $12.48 Billion by 2028 at a CAGR of 11.9%
Global Cryopreservation Equipment Market
Dublin, July 22, 2022 (GLOBE NEWSWIRE) -- The "Cryopreservation Equipment Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type, Cryogen Type, Application, and End User" report has been added to ResearchAndMarkets.com's offering.
The cryopreservation equipment market is expected to reach US$ 12,489.84 million by 2028 from US$ 6,358.65 million in 2022; it is estimated to grow at a CAGR of 11.9% from 2022 to 2028.
The factors such as growing acceptance for regenerative medicine and increasing need of biobanking practices are contributing to the market growth. However, the stringent regulatory requirements hinder the cryopreservation equipment market growth.
Cryopreservation is a technique employed to minimize cell damage caused during freezing and storage of biological materials such as tissue, bacteria, fungi, virus, and mammalian cells. Tissues and genetically stable living cells preserved via cryopreservation can be used in research and other biomedical applications. The equipment required for cryopreservation includes cryopreservation systems, cryoware, accessories, and cryogen.
Cryopreservation plays an important part in the field of regenerative medicine as it facilitates stable and secure storage of cells and other related components for a prolonged time. Regenerative medicine enables replacing diseased or damaged cells, tissues, and organs by retrieving their normal function through stem cell therapy.
Owing to the advancements in the medical technology, stem cell therapy is now being considered as an alternative to traditional drug therapies in the treatment of a wide range of chronic diseases, including diabetes and neurodegenerative diseases.
Market Drivers
Growing Acceptance for Regenerative Medicine
Increasing Needs of Biobanking Practices
Market Restraints
Stringent Regulatory Requirements
Market Opportunities
Importance of Cryopreservation for Success of Cell-Based Therapies
Future Trends
3D Printing to Provide Customizable Probes for Sensing and Monitoring in Cryobiology Applications
Type Insights
Based on type, the global cryopreservation equipment market is segmented into freezers, sample preparation systems, and accessories. In 2021, the freezers segment held the largest share of the market, and it is expected to register the highest CAGR in the market during 2022-2028. In ultracold freezers, liquid nitrogen is used for the successful preservation of more complex biological structures by virtually seizing all biological activities.
Cryogen Type Insights
Based on cryogen type, the global cryopreservation equipment market is segmented into liquid nitrogen, oxygen, liquid helium, argon, and others. In 2021, the liquid nitrogen segment held the largest share of the market; the market for this segment is further expected to grow at the highest CAGR during 2022-2028. Liquid nitrogen is a nonmechanical method of cells preservation. Large thermos-like containers are used to house either racks or shelves that hold cryogenic vials.
Application Insights
Based on application, the global cryopreservation equipment market is segmented into cord blood stem cells, sperms, semen & testicular tissues, embryos and oocytes, cell and gene therapies, and others. In 2020, the cord blood stem cells segment held the largest share of the market. Moreover, the market for the sperms segment is expected to register the highest CAGR in the market during 2022-2028. In recent years, public cord banking has been promoted over private cord banking. Various centers across the world are performing cord blood stem cell transplantation as a part of the management of genetic, hematologic, immunologic, metabolic, and oncologic disorders, among others, which is bolstering the growth of the market for the public cord banking segment.
End User Insights
Based on end user, the cryopreservation equipment market is segmented into stem cell banks, biotechnology and pharmaceuticals organizations, stem cell research laboratories, and others. The biotechnology and pharmaceuticals organizations segment held the largest market share in 2020, and it is further expected to be the largest shareholder in the market by 2028. Cryopreservation has become an integral part of the manufacturing process of many cellular therapies as it sometimes precedes cell culture (by preserving the starting cellular material before beginning large-scale manufacturing) and generally follows cell expansion.
Key Topics Covered:
1. Introduction
2. Cryopreservation Equipment Market - Key Takeaways
3. Research Methodology
4. Global Cryopreservation Equipment Market - Market Landscape
5. Cryopreservation Equipment Market - Key Market Dynamics
5.1 Market Drivers
5.1.1 Growing Acceptance for Regenerative Medicine
5.1.2 Increasing Needs of Biobanking Practices
5.2 Market Restraints
5.2.1 Stringent Regulatory Requirements
5.3 Market Opportunities
5.3.1 Importance of Cryopreservation for Success of Cell-Based Therapies
5.4 Future Trends
5.4.1 3D Printing to Provide Customizable Probes for Sensing and Monitoring in Cryobiology Applications
5.5 Impact Analysis
6. Cryopreservation Equipment Market- Global Analysis
7. Global Cryopreservation Equipment Market Revenue and Forecasts To 2028- by Type
10. Cryopreservation Equipment Market Revenue and Forecasts To 2028 - End User
11. Cryopreservation Equipment Market Revenue and Forecasts to 2028 - Geographical Analysis
12. Impact Of COVID-19 Pandemic on Cryopreservation Equipment Market
13. Cryopreservation Equipment Market- Industry Landscape
14. Company Profiles
Companies Mentioned
Thermo Fisher Scientific Inc.
Gold Sim Cellular Science LLC
Brooks Automation, Inc
Avantor, Inc.
Hamilton Company
PHC Holdings Corporation
Danaher Corporation
Cryoport Systems, LLC.
Antech Group Inc.
Cryofab
BioLife Solutions
For more information about this report visit https://www.researchandmarkets.com/r/5ujiyb
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