Westford, USA, March 10, 2023 (GLOBE NEWSWIRE) -- The cell cryopreservation market is witnessing significant growth in North America, primarily due to the increasing cases of infertility among the population. Besides, major key players in the market for stem cells are investing heavily in research and development activities, fueling the growth of this market. In addition, the government's recent support for developing novel medical equipment also contributes to the market's growth. Furthermore, the growing geriatric population worldwide, coupled with the rising awareness about the benefits of cryopreservation cell lines and the high focus on drug development, are further expected to drive the market's growth.
SkyQuest's global research has revealed that a staggering 45 million couples and 178 million individuals of reproductive age worldwide struggle with infertility. This startling figure indicates a significant need for advanced medical treatments and technologies, including the emerging field of cell cryopreservation. Given the growing demand for infertility treatments and the increasing success rates of cell cryopreservation techniques, the market is poised for significant growth in the coming years.
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- Tables - 62
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Cryopreservation is a vital technique in the medical field that involves preserving biological materials at extremely low temperatures. This process is critical in maintaining the viability of cells, tissues, and other biological constructs over extended periods. Cryopreservation is commonly used to store sperm, eggs, embryos, and tissues for transplant purposes or research studies.
Prominent Players in Cell Cryopreservation Market
- ThermoFisher Inc.
- Cytiva
- Lonza
- Corning Inc.
- PromoCEll GmbH
- Sigma Aldrich
- Himedia Laboratories
- Creative Biolabs
- Sartorius AG
- Eppendorf Corporate
- GE Healthcare
- Miltenyi Biotec
- Merck KGaA
- Nippon Genetics
- AMS Biotechnology Limited
- Promocell GmbH
- Mediatech Inc.
- Biolife Solutions Inc.
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Cryopreservation Media Segment to Witness Swift Growth due to Rising Use of Cell Cryopreservation in Research, Drug Development, and Cell-Based Therapies
According to recent market research, the cryopreservation media segment emerged as the leading contributor to the growth of the cell cryopreservation market in 2022. This trend is expected to continue from 2023 to 2030. One of the key factors driving this growth is the increasing use of cryopreservation media in preserving cells used in cell therapy development. According to SkyQuest, more than 48% of all deaths globally are attributable to chronic diseases, including cardiovascular disease, type 2 diabetes, cancer, and chronic respiratory disease. This alarming statistic indicates the urgent need for innovative solutions to prevent and treat these conditions. One promising solution is cell cryopreservation, which involves freezing living cells to preserve them for future use.
The North American cell cryopreservation market is expected to hold the largest market share by the end of 2030 compared to other regions. This is due to the region's increasing healthcare expenditure on research and development activities by pharmaceutical and biotech companies, which is estimated to impact the market in the coming years significantly. In addition, the pharmaceutical and biotech companies in the region are investing heavily in R&D activities to develop new and innovative drugs and therapies for various diseases, driving the demand for cell cryopreservation.
Pharmaceutical and Biotechnology Segment to Drive High Growth as Cell Cryopreservation Widely Used to Store and Transport Living Cells and Tissues
The pharmaceutical and biotechnology sector was the frontrunner in the cell cryopreservation market in 2022, and it is expected to maintain its dominant position in the future. The increasing demand for cell-based therapies and regenerative medicines has been a major factor driving the growth of this segment. The pharmaceutical and biotechnology industry has been at the forefront of these applications, relying heavily on cell-based assays and models for drug development and testing.
The Asia Pacific region is poised to witness the highest growth rate in the cell cryopreservation market between 2023 and 2030. This growth is due to various factors, including improving healthcare infrastructure and increasing product management operations. The optimization of cryopreservation is a rapidly developing segment in this region, which is expected to boost the demand for cryopreservation cell lines in Asia Pacific countries. In addition, the acceleration of product management operations is anticipated to boost market growth further, enabling more efficient and effective distribution of cryopreservation cell lines.
To succeed in the highly competitive field of the cell cryopreservation market, companies must stay updated with the latest industry trends and capitalize on emerging opportunities. SkyQuest's report offers valuable insights and recommendations to help businesses expand their operations and make informed decisions that can lead to success in this dynamic market. By constantly monitoring and analyzing the market, companies can differentiate themselves from their competitors.
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Key Developments in Cell Cryopreservation Market
- FUJIFILM Irvine Scientific, Inc. has recently made an exciting announcement regarding the use of its cryopreservation medium in a clinical trial conducted by Vitro Biopharma. The world-renowned company specializes in developing and manufacturing serum-free and chemically defined cell culture media, specifically for bioproduction and cell therapy manufacturing. The use of this medium in a clinical trial is expected to advance the field of regenerative medicine by providing a viable alternative to traditional cryopreservation methods that utilize DMSO, a toxic substance.
- BioPharma Dynamics, a leading player in the cell and gene therapy market, has recently announced the expansion of its product portfolio. The company now offers chemically defined T-Cell media, DMSO-free cryopreservation solutions, and recombinant growth factors. These products are suitable for cell therapy applications at any stage. In addition, these products are designed to provide researchers and clinicians with the necessary tools to improve the efficiency, consistency, and safety of their cell therapy protocols.
- LifeCell and Cellutions BioStorage have allied to provide high-quality cryopreservation services. Cryopreservation is preserving biological materials at extremely low temperatures, typically below -150°C, to maintain their viability and functionality for future use. The alliance between LifeCell and Cellutions BioStorage will offer advanced cryopreservation services to various clients, including research institutions, biotech and pharmaceutical companies, and individuals.
Key Questions Answered in Cell Cryopreservation Market Report
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