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.
Download Free Sample Report (266 Pages PDF with Insights, Charts, Tables, Figures): https://www.alliedmarketresearch.com/request-sample/12282
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.
- 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.
Leading Market Players
- Corning Inc.
- Creative Biolabs
- Eppendorf Corporate
- Himedia Laboratories
- PromoCell GmbH
- Sartorius AG
- Sigma Aldrich
- ThermoFisher, Inc.
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.
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.
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 to grow with the highest CAGR throughout the forecast period.
- By region, North America occupied major share of the cell cryopreservation industry in 2021.
FREQUENTLY ASKED QUESTIONS?
Q1. What are the upcoming trends of cell cryopreservation market in the world?
Q2. What is the leading application of cell cryopreservation market?
Q3. Which is the largest regional market for cell cryopreservation market?
Q4. What is the estimated industry size of cell cryopreservation market?
Q5. Which are the top companies to hold the market share in cell cryopreservation Market?
Other Trending Reports in Healthcare Industry:
Workplace Stress Management Market
Avenue Basic Plan | Library Access | 1 Year Subscription |
Sign up for Avenue subscription to access more than 12,000+ company profiles and 2,000+ niche industry market research reports at $699 per month, per seat. For a year, the client needs to purchase minimum 2 seat plan.
Request for 14 days free trial: https://www.alliedmarketresearch.com/avenue/trial/starter
“We have also published few syndicated market studies in the similar area that might be of your interest. Below are the report title for your reference, considering Impact of Covid-19 Over This Market which will help you to assess aftereffects of pandemic on short-term and long-term growth trends of this market.”
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
5933 NE Win Sivers Drive
#205, Portland, OR 97220
USA/Canada (Toll Free): +1-800-792-5285, +1-503-894-6022
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060