Global Cell Cryopreservation Market, by Product Type (Cry protectant Agents and Equipment), by Application (Stem Cells, Oocytes and Embryos, Sperm, Semen, and Testicular Tissue, Hepatocytes, and Others), by End User (Pharmaceutical and Biotechnology Companies, Academic and Research Institutes, Bio bank, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) was valued at US$ 3,350.9 million in 2017, and is estimated to exhibit a CAGR of 22.5% over the forecast period (2018-2026), as highlighted in a new report published by Coherent Market Insights .
Increasing regulatory product approvals and product launches by market players are expected to augment the market growth.
Major market players are focusing on product launches and regulatory product approvals, in order to expand their product portfolio. For instance, in 2014, Asymptote Ltd., a U.K.-based cryopreservation specialist launched its range of liquid nitrogen-free controlled rate freezers, especially designed for the needs of regenerative medicine. This product was launched in the annual meeting of the International Society for Cellular Therapy (ISCT), held at Paris, France.
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Moreover, increasing research activities by universities and research organizations to develop novel freezing methods is further expected to fuel the market growth over the forecast period. For instance, in May 2019, researchers of Shinshu University, Japan developed a technique to cryopreserve animal cells without using antifreeze or cry protectant agent by flash freezing cells. The researchers aim to apply this freezing method for preserving cells that are particularly sensitive to cryopreservation.
Browse 32 Market Data Tables and 25 Figures spread through 192 Pages and in-depth TOC on ‘Cell Cryopreservation Market’- Global Forecast to 2026, by Product Type (Cry protectant Agents and Equipment), by Application (Stem Cells, Oocytes and Embryos, Sperm, Semen, and Testicular Tissue, Hepatocytes, and Others), by End User (Pharmaceutical and Biotechnology Companies, Academic and Research Institutes, Bio bank, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
In addition, infertility is the most commonly encountered medical conditions, across the globe. This, in turn drives adoption of in-vitro fertilization (IVF) procedures, which is further expected to augment growth of the global cell cryopreservation market over the forecast period. For instance, according to the report published in Gala Dari Printing and Publishing LLC, 2018, the prevalence of infertility increased with a significant decline in demographics ranging from 6.6 births per woman in the 1970s to 5.22 children in 1980-1985 and 1.73 in 2015-2020, exhibiting an overall decrease of 160%.
Moreover, key players in the market are focusing on mergers and acquisitions, in order to expand their product portfolio. For instance, in October 2018, Thermo Fisher Scientific Inc. acquired Advanced Bioprocessing business from Becton, Dickinson and Company. This acquisition helped Thermo Fischer to expand its product portfolio of life sciences solutions segment, and enabled the company to bring new drugs into the market at faster pace.
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Key Takeaways of the Global Cell Cryopreservation Market:
• The global cell cryopreservation market is expected to exhibit a CAGR of 22.5% over the forecast period, attributed to rising number of product launches and regulatory approval of cryopreservation systems. For instance, Taiyo Nippon Sanso Corporation launched CryoLibrary (CAPS-i3000), a fully-automated cryopreservation system for cryopreservation of iPS cells, in 2013.
• Among product type, equipment segment held dominant position in the global cell cryopreservation market in 2018, attributed to increasing number acquisitions by market players to expand their product portfolio. For instance, in April 2017, GE Healthcare acquired Asymptote Limited, a provider of cry chain technology (Asymptote's VIA Freeze) and equipment for sensitive cellular therapies. Asymptote's integrated suite of cry chain hardware, software, and consumables are designed to maintain the potency of cellular therapies. The acquisition strengthened GE Healthcare's cell therapy portfolio.
• Among application, stem cells segment held a dominant position in the global cell cryopreservation market in 2018, attributed to growing applications of stem cells for the treatment of patients diagnosed with blood-related cancers. For instance, according to Leukemia and Lymphoma Society, 2017, around 172,910 people in the U.S. were diagnosed with leukemia, lymphoma or myeloma in 2017, thereby driving adoption of stem cells for efficient treatment.
Major market players operating in the global cell cryopreservation market include General Electric Company, Thermo Fisher Scientific Inc., Merck KGaA, AMS Biotechnology (Europe) Limited, Miltenyi Biotech GmbH, BioLifeSolutions Inc., HI Media Laboratories Pvt. Ltd., Promo Cell GmbH, Corning Incorporated, Cooper Companies, Inc., and Planer PLC.
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About Coherent Market Insights:
Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.
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