Market Challenges: High cost associated with preservation processes

The high costs associated with cell and tissue preservation processes can hamper the global cell and tissue preservation market growth. Cell and tissue preservation requires specialized equipment, facilities, media and reagents that are usually expensive. For instance, cryogenic freezers that are able to maintain ultra-low temperatures for long-term cell and tissue storage can cost hundreds of thousands of dollars alone. Freezing media, cryoprotectants and other consumables needed on a regular basis increases recurring costs. Maintaining cell banks and biorepositories also incurs high operating expenses related to liquid nitrogen, equipment maintenance, quality control testing and skilled labor. Given the expense of setting up and sustaining cell and tissue preservation infrastructure, many smaller research institutes and labs find it difficult to justify the investment. This hampers widespread experimentation and commercialization of new cell- and tissue-based therapies, limiting the scope of applications that can boost demand. Even large pharmaceutical and biotech companies may shy away from projects that require preserving large numbers of primary cell types due to budgetary constraints. The high costs disproportionately impact non-profit efforts related to developing countries where budgets for health research are limited. For example, according to the data from the United Nations Educational, Scientific and Cultural Organization (UNESCO), African countries spent only 0.5% of their GDP on research and development in 2020, much lower than the global average of 2.2%.

Market Opportunities: Growing stem cell research activities

Increasing research activities in stem cell therapy can offer opportunity for the global cell and tissue preservation market growth. Stem cell research holds promise for a wide range of future medical applications in regenerative medicine involving the treatment of diseases such as cancer, diabetes, cardiac disorders and neurodegenerative conditions. As scientists continue advancing stem cell isolation techniques and our understanding of how stem cells can be manipulated to regenerate specific cell types in the body, there will be a growing need to preserve large numbers of clinically-relevant stem cell lines and tissues. Stem cell banking is accelerating globally as more families elect to privately store umbilical cord blood stem cells for future medical or therapeutic use by family members. According to the World Marrow Donor Association, over 35 million stem cell transplants have been registered worldwide between 1974 and 2021. This demonstrates an immense interest in preserving lives through stem cell therapies and transplantation. As research progresses, stem cell banking is likely to expand beyond just cord blood to involve tissue-specific stem cells and induced pluripotent stem cells. The ability to bank and preserve diverse stem cell sources under optimal conditions will be pivotal to enable the full potential of personalized regenerative therapies. Furthermore, with emerging cell and gene therapy applications, researchers will require reliable access to preserved stem cell product sourced from diverse population backgrounds. For example, clinical trials are ongoing to evaluate the use of chimeric antigen receptor T cell therapy (CAR T-cell) to treat blood cancers using a patient's own immunological cells. Ensuring access to preserved human tissues facilitating such advancement remains essential. According to the World Health Organization, over 18.1 million new cancer cases and 9.6 million cancer deaths were reported globally in 2020. The gradual shift towards less invasive cell and immunotherapies for cancer and other diseases can offer opportunities for cell and tissue preservation market players.