Global Cell Cryopreservation Market, by Product Type (Cryoprotectant Agents and Equipment), by Application (Stem Cells, Oocytes and Embryos, Sperm, Semen, and Testicular Tissue, Hepatocytes, and Others), by End User (Pharmaceutical and Biotechnology Companies, Academic and Research Institutes, Biobank, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) was valued at US$ 3,350.9 million in 2017, and is projected to exhibit a CAGR of 22.5% over the forecast period (2018–2026), as highlighted in a new report published by .
Increasing product approvals and product launches by market players is expected to augment the market growth
Key players in the market are focused on product launches and product approvals in order to expand their product portfolio. For instance, in 2014, Asymptote Ltd., a U.K.-based cryopreservation specialist, launched its range of liquid nitrogen-free controlled rate freezers, especially designed for the needs of regenerative medicine, at the annual meeting of the International Society for Cellular Therapy (ISCT), held in Paris, France.
Moreover, increasing research activities by universities to develop novel freezing methods is also expected to propel the market growth over the forecast period. For instance, in May 2019, researchers at Shinshu University, Japan devised a technique to cryopreserve animal cells without antifreeze or cryoprotectant agent by flash freezing cells. The researchers aim to apply this freezing method for preserving cells that are particularly sensitive to cryopreservation.
Browse 32 Market Data Tables and 25 Figures spread through 192 Pages and in-depth TOC on ‘Cell Cryopreservation Market’- Global Forecast to 2026, by Product Type (Cryoprotectant Agents and Equipment), by Application (Stem Cells, Oocytes and Embryos, Sperm, Semen, and Testicular Tissue, Hepatocytes, and Others), by End User (Pharmaceutical and Biotechnology Companies, Academic and Research Institutes, Biobank, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) To know the latest trends and insights prevalent in the global cell cryopreservation market, click the link below:
Infertility is among the most commonly encountered medical conditions, worldwide. This in turn increases adoption of in-vitro fertilization (IVF) procedures, which is expected to drive growth of the global cell cryopreservation market. According to the report published in Galadari Printing and Publishing LLC, 2018, the prevalence of infertility increased with a significant decline in demographics ranging from 6.6 births per woman in the 1970s to 5.22 children in 1980-1985 and 1.73 in 2015-2020, registering an overall decrease of 160%.
Key players in the market are focused on adopting strategies such as mergers and acquisitions to expand their product portfolio. For instance, in October 2018, Thermo Fisher Scientific Inc. acquired Advanced Bioprocessing business from Becton, Dickinson and Company for expansion of its life sciences solutions segment. The acquisition expanded bioproduction portfolio and enabled the company to bring new drugs into the market at faster pace.
Key Takeaways of the Global Cell Cryopreservation Market:
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, BioLifeSolutions Inc., HiMedia Laboratories Pvt. Ltd., PromoCell GmbH, Corning Incorporated, Cooper Companies, Inc., and Planer PLC