DUBLIN–(BUSINESS WIRE)–The “Cell Cryopreservation Market Size, Share & Trends Analysis Report By Product (Cell Freezing Media, Equipment), By Application (Stem Cells, Sperm Cells), By End-use (Biobanks, IVF), By Region, And Segment Forecasts, 2024 – 2030” report has been added to ResearchAndMarkets.com’s offering.
The global cell cryopreservation market size is expected to reach USD 35.03 billion by 2030 with a CAGR of 21.01%
The increased use of ready-to-freeze media, combined with rising infertility rates, is driving demand for these products. Furthermore, the rising prevalence of chronic diseases, as well as the increasing importance of cell therapy for disease management, have prompted the demand for effective cryopreservation.
The increased demand for cost-effective cryopreservation medium has stemmed from increased research & development (R&D) activities to create advanced medicines. The capacity of ready-to-use media to decrease the development of ice crystals while cryopreserving live cells led to its increasing adoption among the research community. Furthermore, the rising popularity of cell-based drugs has resulted in massive investments from manufacturers to develop sophisticated biopharmaceuticals for serious medical conditions, which will propel the demand for cryopreservation and further boost the market growth.
The rapid R&D for the COVID-19 vaccine, as well as its continued commercial manufacturing activities, have also significantly impacted and stimulated biologics-based research activities, resulting in increased market growth. Furthermore, the growing market demand, increased competition among competitors, and diverse applications by end-users have all contributed to developments in cryopreservation freezing media formulations, which are now even accessible on a custom basis. For example, Merck KGaA’s Sigma Aldrich brand provides frozen media solutions for stem cell applications while ensuring optimal recovery and cell survival, thus, propelling the cryopreservation market growth.
The versatility, ready-to-use, and inexpensive cost of these media over traditional freezing processes have resulted in widespread adoption among end-users. Traditional freezing processes necessitate the use of liquid nitrogen, which has significant safety concerns. Other disadvantages of nitrogen use include the potential of cross-contamination, high operating costs, and the risk of asphyxiation due to the displacement of atmospheric oxygen. As a result, the use of ready-to-use freezing media has grown in recent years which further boosts the cryopreservation market.
Additionally, developments in freezing media formulation and cryopreservation techniques, as well as leveraging cryopreservation freezing media applications in fields such as tissue engineering, cellular treatment, and stem cell research, have driven the market at a substantial rate. Favorable government regulations for regenerative medicine & cell-based research are expected to further boost the global market.
Cell Cryopreservation Market Report Highlights
- Based on product, the consumables segment accounted for the largest market share of 40.76% in 2023. The market is expanding due to the growing demand for cell based-therapies & preservation, and re-purchasing of consumables by end-users
- Based on application, stem cells accounted for the largest market share of 35.80% in 2023. Increased stem cell research and the development of advanced therapies by medical professionals and scientists is predicted to drive the market growth
- North America held the largest market share of 40.26% in 2023. This is mostly due to the presence of major market participants and the rising cost of healthcare in the region
Market Dynamics
Drivers
- Increase in the number of egg-freezing cycles
- Increase in research and development activities for stem cells
- Rise in the number of biobanks and surge in demand for personalized medicines
Market Restraint Analysis
- High cost of equipment
Business Environment Analysis
- PESTEL Analysis
- Porter’s Five Forces Analysis
- COVID-19 Impact Analysis
Competitive Landscape
- Thermo Fisher Scientific Inc.
- PromoCell GmbH
- Merck KGaA
- Sartorius AG
- Lonza
- Corning Incorporated
- Creative Biolabs
- BioLife Solutions Inc.
- Danaher
- HiMedia Laboratories
For more information about this report visit https://www.researchandmarkets.com/r/tsftfl
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