Seattle, Aug. 18, 2022 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the global cell cryopreservation market is estimated to be valued at US$ 8,659.4 million in 2022 and is expected to exhibit a CAGR of 22.4 % during the forecast period (2022-2030).
Key Trends and Analysis of the Global Cell Cryopreservation Market:
Major players operating in the market are focusing on adopting strategies such as product launch, which is expected to drive the global cell cryopreservation market growth over the forecast period. For instance, in December 2021, Evia Bio, a cryopreservation technology company, announced the launch of new cryopreservation technology for use in cell and gene therapies utilizing Induced Pluripotent Stem Cells (iPSCs) derived from the skin or blood cells. The osmolyte-based solution increases cell survival above that of commercially available DMSO (dimethyl sulfoxide)-based options, which is critical for realizing the potential of these therapies. The new launch expands the company's portfolio of patented cryopreservation products that also include products for mesenchymal stem cells (MSCs).
Furthermore, in July 2021, Huize Holding Limited, a digital insurance product and service platform company, announced that it had partnered with Sungrow, a solar technology company, and launched immune cell cryopreservation as value-added healthcare service for eligible insurance customers. The immune cell cryopreservation technology is supported by BGI Cell, a healthcare integrated solutions company, and refers to the use of advanced biotechnology to extract immune cells from a healthy human body to be preserved at temperatures below −196°C which are valuable for anti-aging, tissue regeneration, and immune regulation.
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Key Market Takeaways:
Market players are focused on growth strategies such as the launch of new technologies in cell therapies. This in turn is expected to drive the growth of the global cell cryopreservation market. For instance, in December 2021, Novartis, a global healthcare company, announced the introduction of T-Charge to CAR (chimeric antigen receptor)-T platform that will serve as the foundation for various new investigational CAR-T cell therapies by Novartis. The T-Charge platform preserves T cell stem, the ability to self-renew and mature, which results in a product containing greater proliferative potential and fewer exhausted T cells.
Among product type, the equipment segment had generated significant revenue in 2022, owing to increasing launch by the market players in cell cryopreservation market over the forecast period. For instance, in February 2021, Godrej Appliances, an appliances manufacturing company, launched new ultra-low temperature freezers for vaccine storage. These advanced medical freezers can preserve life-saving medical supplies including critical vaccines below -80°C and are aimed at boosting both Indian and global medical cold chains.
Among region, North America is expected to hold a dominant position in the global cell cryopreservation market over the forecast period, owing to increasing use of IVF procedures in the region. For instance, in 2018, according to the Centers for Disease Control and Prevention, about 1% to 2% of all US births annually were through IVF procedures.
Competitive Landscape:
Key players operating in the global cell cryopreservation market include General Electric Company, Thermo Fisher Scientific Inc., Merck KGaA, AMS Biotechnology (Europe) Limited, Miltenyi Biotec GmbH, BioLife Solutions Inc., HiMedia Laboratories Pvt. Ltd., PromoCell GmbH, Corning Incorporated, Cooper Companies, Inc., Planer PLC, Bio-Rad Laboratories India Pvt. Ltd, Abcam plc., AMSBIO, Biogenuix, and Evia Bio
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Market Segmentation:
- Global Cell Cryopreservation Market, By Product Type:
- Cryoprotectant Agents
- Glycerol
- Dimethyl Sulfoxide (DMSO)
- Others
- Equipment
- Incubators
- Liquid Nitrogen Supply Tanks
- Freezers
- Others
- Cryoprotectant Agents
- Global Cell Cryopreservation Market, By Application:
- Stem Cells
- Oocytes and Embryos
- Sperm, Semen, and Testicular Tissue
- Hepatocytes
- Others
- Global Cell Cryopreservation Market, By End User:
- Pharmaceutical and Biotechnology Companies
- Academic and Research Institutes
- Biobank
- Others
- Global Cell Cryopreservation Market, By Region:
- North America
- By Country
- US
- Canada
- By Country
- Europe
- By Country
- U.K.
- Germany
- Italy
- Spain
- France
- Russia
- Rest of Europe
- By Country
- Asia Pacific
- By Country
- Australia
- India
- China
- Japan
- ASEAN
- South Korea
- Rest of Asia Pacific
- By Country
- Latin America
- By Country
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- By Country
- Middle East
- By Country
- GCC
- Israel
- Rest of Middle East
- By Country
- Africa
- By Country/Region
- South Africa
- Central Africa
- North Africa
- By Country/Region
- North America
Related Market Intelligence Reports:
Cell And Gene Therapy Market, by Therapy Type (Cell Therapy and Gene Therapy), by Indication (Cardiovascular Disease, Cancer, Genetic Disorders, Infectious Diseases, Neurological Disorders), by Scale of Operation (In-house and Outsourced), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)- Size, Share, Outlook, and Opportunity Analysis, 2022 – 2030
Stem Cell Banking Market, by Source Type (Cord Blood and Cord Tissue), by Service Type (Collection and Transportation, Processing, Analysis, and Storage), by Application (Leukemia, Diabetes, Lymphoma, Cerebral Palsy, Thalassemia, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Outlook, and Opportunity Analysis, 2022 – 2028
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