The Cell Cryopreservation Market refers to the market for products and services that are used to preserve cells at ultra-low temperatures, typically below -130°C, for extended periods of time. Cryopreservation allows for the long-term storage of cells, including stem cells, primary cells, and cell lines, which can be used in research, biobanking, and therapeutic applications.
The global cell cryopreservation market was valued at $8.6 billion in 2021, and is projected to reach $63.4 billion by 2031, growing at a CAGR of 22.2% from 2022 to 2031.
The increase in research and development activities for stem cells, increase in government support for research and development activities and increase in prevalence of chronic diseases are the factors responsible for driving the growth of the cell cryopreservation market size. Moreover, rise in geriatric population, rise in the infertility rates, advantages of cell freezing for storage in drug development and increase in healthcare expenditure also helps in the cell cryopreservation market growth. However, availability of alternative therapies for cell cryopreservation and high maintenance cost in storage procedure hinder the growth of the cell cryopreservation market share.
For instance, according to the data published by National Institute of Health in 2019, the newly developing technology which is named as cryoprotective agent-free cryopreservation of mammalian cells or superflash freezing works by a heat-transfer stimulation that is sufficient to nearly vitrify the cells. Conversely, the rise in focus of manufacturers on developing novel products for preserving various cells is expected to create lucrative opportunities for the market.
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Prime determinants of growth
Rise in research and development activities for stem cells, surge in government support for research and development activities, and increase in prevalence of chronic diseases drive the growth of the global cell cryopreservation market. However, the availability of alternative therapies for cell cryopreservation and high cost of maintenance in storage procedure restrain the market growth. On the other hand, increase in infertility rates, advantages of cell freezing for storage in drug development, and rise in healthcare expenditure present new opportunities in the coming years.
Leading Market Players
Corning Inc., Creative Biolabs, Cytiva, Eppendorf Corporate, Himedia Laboratories, Lonza, PromoCell GmbH, Sartorius AG, Sigma Aldrich, ThermoFisher, Inc.
𝐏𝐫𝐨𝐜𝐮𝐫𝐞 𝐂𝐨𝐦𝐩𝐥𝐞𝐭𝐞 𝐑𝐞𝐩𝐨𝐫𝐭 (𝟐𝟐𝟎 𝐏𝐚𝐠𝐞𝐬 𝐏𝐃𝐅 𝐰𝐢𝐭𝐡 𝐈𝐧𝐬𝐢𝐠𝐡𝐭𝐬, 𝐂𝐡𝐚𝐫𝐭𝐬, 𝐓𝐚𝐛𝐥𝐞𝐬, 𝐚𝐧𝐝 𝐅𝐢𝐠𝐮𝐫𝐞𝐬) @ https://www.alliedmarketresearch.com/checkout-final/898b93ae3e19a227a8f13bd9f1b4984b
The cryopreservation media segment to maintain its lead position during the forecast period
Based on type, the cryopreservation media segment accounted for the highest market share in 2021, contributing to nearly four-fifths of the global cell cryopreservation market, and is projected to maintain its lead position during the forecast period. Moreover, this segment is projected to manifest the largest CAGR of 22.3% from 2022 to 2031. This is due to rise in use of cryopreservation media in the preservation of cells that are used in the development of cell therapy, rise in adoption of cell cryopreservation technology, and increase in the prevalence of chronic diseases. The report also analyzes the segments including the equipment segment.
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The others segment to continue its dominant share throughout the forecast period
Based on application, the others segment contributed to the highest market share in 2021, accounting for more than two-fifths of the global cell cryopreservation market, and is projected to continue its dominant share throughout the forecast period. Moreover, this segment is estimated to manifest the highest CAGR of 23.0% from 2022 to 2031. This is attributed to surge in the incidences of blood related chronic diseases and rise in number of research and development activities for the treatment of chronic diseases. The report also discusses the segments including stem cells, oocytes cells, and sperm cells.The pharmaceutical and biotechnology company segment to continue its highest contribution throughout the forecast periodBased on end user, the pharmaceutical and biotechnology company segment accounted for the largest market share in 2021, holding more than three-fifths of the global cell cryopreservation market, and is estimated to continue its highest contribution throughout the forecast period. In addition, this segment is projected to register the fastest CAGR of 22.6% from 2022 to 2031. This is due to rise in number of pharmaceutical and biotechnology companies with increase in demand for pharmaceutical and biotechnology products. The report also analyzes the segments including research institute and others.
North America to maintain its leadership status throughout the forecast period
Based on region, North America held the largest market share in 2021, accounting for nearly two-fifths of the global cell cryopreservation market, and will maintain its leadership status throughout the forecast period. This is attributed to high prevalence rate of chronic diseases, increase in the number market players, and increase in the infertility rates in the region. However, Asia-Pacific is expected to grow at the largest CAGR of 23.2% from 2022 to 2031, owing to the presence of high populace countries such as India and China that raise the prevalence rate of chronic diseases and the rise in number of product launches and other trends adopted by market players. The research also analyzes regions including Europe and LAMEA.
KEY FINDINGS OF STUDY
By type, the cryopreservation media segment accounted for major share of the cell cryopreservation market in 2021.By application, the others segment is anticipated to grow with the highest CAGR throughout the forecast period.
By end user, the pharmaceutical and biotechnology company segment is anticipated
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