Cryopreservation is a process of maintaining biological samples in the form of a suspended state at cryogenic temperature for a considerable period and is used to preserve the fine structure of cells. Through this process, samples of cells, tissues, and organelles are cooled at very low temperatures (less than - 2130 degrees F) for preservation. Cryopreservation is primarily used in the preservation of oocytes and embryos during the in-vitro fertilization (IVF) cycle, prior to chemotherapy for women diagnosed with breast cancer, in order to preserve their reproductive capacity.
The global cell cryopreservation market size was valued at US$ 8,659.4 Million in 2022 and is expected to witness a CAGR of 22.4% over the forecast period (2022 – 2030).
Figure 1. Global Cell Cryopreservation Share (%), by Application, 2022
Increasing research and development of stem cells is expected to augment the growth of the global cell cryopreservation over the forecast period.
Increasing research and development of stem cells by scientists and clinicians is expected to boost the global cell cryopreservation market growth. For instance, in November 2021, the University of Southern California received a US$5 million grant from the California Institute for Regenerative Medicine to help PhD students, clinical research fellows, and postdoctoral researchers advance their careers in stem cell research. A varied group of scientists with unmatched expertise and abilities will emerge from the training program as the next generation of leaders in stem cell research.
Cell Cryopreservation Market Report Coverage
|Base Year:||2021||Market Size in 2022:||US$ 8,659.4 Mn|
|Historical Data for:||2017 to 2020||Forecast Period:||2022 to 2030|
|Forecast Period 2022 to 2030 CAGR:||22.4%||2030 Value Projection:||US$ 43,546.4 Mn|
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.
|Restraints & Challenges:||
Figure 2. Global Cell Cryopreservation Market Share (%), by Region, 2022
Increasing demand for in vitro fertilization (IVF) procedures in North America is expected to boost the market growth
North America holds a dominant position in the global cell cryopreservation market, owing to increasing demand for in vitro fertilization (IVF) procedures in the U.S. For instance, in 2021, according to the report published by Cofertility, a fertility treatment center, 1.9% of babies were born by IVF in the U.S. in 2018. 2 out of 3 women who start IVF before age 35 will take home a baby within three IVF cycles.
Moreover, according to the Centers for Disease Control and Prevention, a national public health agency, in 2018, about 1% to 2% of all births in the U.S. annually are through IVF procedures which shows the significant usage of cryopreservation equipment.
Global Cell Cryopreservation Market – Impact of Coronavirus (COVID-19) Pandemic
Since the COVID-19 virus outbreak in December 2019, the disease has spread to over 100 countries across the globe and the World Health Organization declared it a public health emergency on January 30, 2020. The sudden outbreak of COVID-19 has bought the world to a standstill. The whole world is fighting this pandemic with an increased burden on hospitals and healthcare professionals. Increasing launch during covid-19 by the market players has driven the global cell cryopreservation market growth. For instance, in March 2021, Helmer Scientific, a manufacturer of cold storage products and processing equipment, announced the expansion of the GX Solutions’, a monitoring company, Cold Storage product line to include both undercounter and upright freezers. GX Solutions Freezers include models that are designed for vaccine and blood therapies, as well as other clinical applications in capacity range from 5 to 25 cu ft. GX Solutions are medical-grade freezers that are powered by OptiCool technology and optimize temperature, noise, and energy management. Medical-grade freezers are required for a wide variety of healthcare applications. However, this equipment category has recently become even more critical as healthcare providers need to meet storage and handling requirements of new COVID-19 vaccines.
Global Cell Cryopreservation Market: Key Developments
Global Cell Cryopreservation Market Restraints
The adoption and development of alternative methods is expected to hinder the market growth. For instance, in May 2019, researchers at the University of Japan developed a technique to cryopreserve animal cells without using a cryoprotectant agent. The researchers plan to apply this technique to a wide range of cells, especially cells sensitive to the cryopreservation procedure.
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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