The Cell Cryopreservation Market refers to the market for techniques and equipment used to preserve cells at very low temperatures, typically below -130Β°C. The process of cell cryopreservation involves cooling the cells in a controlled manner to prevent damage, and then storing them in a frozen state until needed.
According to the report, the global cell cryopreservation industry generated $8.6 billion in 2021, and is estimated to reach $63.4 billion by 2031, witnessing a CAGR of 22.2% from 2022 to 2031.
The global cell cryopreservation market is driven by the increasing demand for stem cell banking, drug discovery, and regenerative medicine. The market is segmented based on product type, end-user, application, and region.
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Products in the cell cryopreservation market include reagents and media, freezers, consumables, and services. End-users of cell cryopreservation products include biotechnology and pharmaceutical companies, academic and research institutes, and hospitals and clinics.
Applications of cell cryopreservation include stem cell preservation, tissue engineering, organ transplantation, and drug discovery. The stem cell preservation segment is expected to account for the largest share of the market due to the increasing demand for stem cell banking and regenerative medicine.
The cell cryopreservation market is expected to continue to grow in the coming years due to the increasing demand for stem cell banking and regenerative medicine, as well as the growing number of biotechnology and pharmaceutical companies. Technological advancements, such as the development of automated cryopreservation systems, are also expected to drive market growth.
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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.
Covid-19 Scenario
The Covid-19 pandemic had a positive impact on the cell cryopreservation market, as transplants for benign hematological conditions such as thalassemia were postponed to avoid the possibility of cross-contamination and logistical restrictions.
Moreover, travel restrictions and uncertainties related to contracting Covid-19 infection during the period of G-CSF mobilization made organizations consider the cell cryopreservation. This, in turn, led to rise in the market revenue.
According to the data published by the Blood Cell Therapy, the official journal of Asia-Pacific Blood and Marrow Transplantation Group, in November 2021, the hematopoietic progenitor cell (HPC) collection facilities needed to function continuously during the pandemic. These facilities implemented the safety measures as per the national and international guidelines to ensure a secure collection of HPC products from patients and as donors.
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 period
Based 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.
Leading Market Players
Corning Inc.
Creative Biolabs
Cytiva
Eppendorf Corporate
Himedia Laboratories
Lonza
PromoCell GmbH
Sartorius AG
Sigma Aldrich
ThermoFisher, Inc.
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