CELL CRYOPRESERVATION MARKET ANALYSIS

The high cost related to establishing and operating a cell cryopreservation facility can hamper the global cell cryopreservation market growth. Setting up a cell cryopreservation lab requires sizable capital investments in advanced cryogenic equipment like controlled-rate freezers, liquid nitrogen storage tanks, and automated temperature monitoring systems. These equipment and technologies are highly sophisticated and expensive. For instance, a medium size -80°C mechanical freezer costs US$ 25,000 while an industrial sized liquid nitrogen storage tank costs U$ 100,000. Ongoing operational expenses of maintaining cryogenic temperatures and storing the cells long-term further increase costs. Costs of liquid nitrogen re-fills, regular equipment servicing, hiring specialized technicians to handle cryopreservation procedures increases the operating expenses. For many smaller research labs and hospitals, these substantial start-ups and running costs of cryopreservation can be a deterrent. While these recognize the merits of cryopreserving stem cells, tissue samples or other biologically significant cells, the investments needed restrict wider adoption of cell cryopreservation technique. For example, according to the data from the World Bank, average GDP per capita in developing countries like Kenya was around US$ 1,800 in 2020, making very large capital expenditure difficult. Similarly, public health spending as a share of GDP was only 4% in Kenya during the same period. Therefore, high initial capital and running costs reduce the viability of setting up cell cryopreservation facilities in such resource-strapped environments.

Market Opportunities: Rise in adoption of personalized medicine

Rising adoption of personalized medicine can offer opportunity for global cell cryopreservation market growth. Personalized medicine involves tailoring medical treatment to an individual patient's molecular profile and needs. With advancements in fields like genomics, high-throughput technologies and bioinformatics, doctors are now able to more accurately diagnose diseases, monitor disease progression and develop targeted treatment plans based on a patient's own genetic and molecular characteristics. This shift towards personalized healthcare necessitates long-term preservation and storage of individual patient's cells for continued research and future therapeutic applications if needed. Cell cryopreservation, which involves freezing cells at extremely low temperatures using cryoprotectants, provides an efficient way to bank individuals' cells for extended periods of time. Examples include stem cells collected from umbilical cord blood or adipose tissue which can be cryopreserved and stored in biobanks for potential future use in regenerative therapies. As awareness about benefits of personalized medicine grows and genomics-driven diagnostics and treatments become more mainstream, there will be huge demand for cryopreservation services from healthcare providers, biobanks and patients themselves who want to store their own cells and bio-samples. According to the World Marrow Donor Association, over 35 million umbilical cord blood units have been cryopreserved globally in public and private biobanks in 2021.