Cell cryopreservation refers to preserving living cells and tissues in liquid nitrogen at sub-zero temperatures, typically −196°C. Cell preserving using advanced freezing techniques have helped scientists preserve stem cells, cord blood cells, and embryos for future medical treatments. The technology offers significant advantages such as long term storage of biological samples without deterioration. Rising demand for cord blood stem cells from families, wide applications in biobanking and regenerative medicine have driven the need for effective cryopreservation products.
The global Cell Cryopreservation Market is estimated to be valued at US$ 228.8 Mn in 2023 and is expected to exhibit a CAGR of 22% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Wide end-user adoption is one of the key trends driving growth of the Global Cell Cryopreservation Market Size. Increasing demand for cryopreservation from research laboratories, stem cell banks, hospitals and diagnostic centers have bolstered adoption. Rise in regenerative medicine practices leveraging stem cells have expanded end-use applications. Further, rising government investments to establish biobanks for medical research have augmented uptake. Advancing stem cell therapeutics is a major area where cryopreservation finds application. As research in cell-based therapies gain momentum, demand for reliable preservation is poised to surge through the forecast period.
Segment Analysis
Based on application, the market is segmented into stem cells, oocytes and embryos, spermatozoa and testicular tissue, and others. Among these, spermatozoa and testicular tissue segment leads the market due to high prevalence of azoospermia and testicular cancer. This segment extensively cryopreserves spermatozoa and testicular tissues for different fertility treatments.
Key Takeaways
The global cell cryopreservation market is expected to witness high growth during 2023-2030. The global Cell Cryopreservation Market is estimated to be valued at US$ 228.8 Mn in 2023 and is expected to exhibit a CAGR of 22% over the forecast period 2023 to 2030.
The North America region currently dominates the market due to increasing number of fertility clinics and availability of reimbursement policies for several cell cryopreservation procedures in this region.
Key players operating in the cell cryopreservation market are 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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