CRYOPRESERVATION EQUIPMENT MARKET ANALYSIS

The process of stabilizing biological materials at cryogenic temperatures (below -1500 °C) is called cryopreservation. Cryopreservation is used for the preservation of microorganisms, tissue cells, established cell-lines, small multicellular organisms, and complex cellular structures such as embryos, nucleic acid, and proteins. Cryopreservation procedures use liquid nitrogen, liquid helium, argon, and oxygen as cryogenic elements. Various types of samples with varying sensitivity require different types of cryopreservation equipment such as cryopreservation freezers, liquid nitrogen vessels, cryogenic vaporizers, cryogenic incubators, liquid tracking equipment, and cell freezing container.

Global cryopreservation equipment market is estimated to be valued at US$ 8,002.9 million in 2022 and is expected to exhibit a CAGR of 13.2% during the forecast period (2022-2030).

Figure 1. Global Cryopreservation Equipment Market Share (%), by Cryogen, 2022

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Increasing number of government initiatives for preservation of stem cells is expected to augment market growth.

New York Blood Center (NYBC) initiated the National Cord Blood Program, in 1992, to investigate, collect, process, freeze, and store the cord blood cells in liquid nitrogen freezers, which are used when patients with hematopoietic transplants are unable to find compatible bone marrow donors. NCBP is the first and largest cord bank in the world, which recorded a collection of over 60,000 cord blood units, till 2017.

Moreover, in March 2022, according to data published by World Health Organization, International Maternal Pediatric Adolescent Acquired Immune Deficiency Syndrome (AIDS) Clinical Trial Network (IMPAACT) P1107 reported the first case of Human immunodeficiency virus infection (HIV) cure in a woman infected with HIV submitted to a dual stem cell transplant (i.e., an umbilical cord blood transplant combined with a half-matched bone marrow transplant) for treatment of an acute myelogenous leukemia. The IMPAACT P1107 researchers presented the case details during the oral abstract session held at the 29th Conference on Retroviruses and Opportunistic Infections (CROI 2022) held in the U.S. in 2022. The study participant is a woman from New York (USA) who stopped antiretroviral therapy (ART) at 37 months post-transplant and has had no HIV detected for 14 months. The dual stem cell therapy also led to remission from leukemia that she developed in 2017. The IMPAACT P1107 is an observational study that aims to describe the outcomes in people living with HIV who undergo a transplantation with cord blood stem cells with a C-C chemokine receptor type 5 (CCR5) genetic mutation for treatment of cancer, hematopoietic disease, or other underlying disease.

Figure 2.Global Cryopreservation Equipment Market Share (%), by Region, 2022

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Increasing funding initiatives by government organization for research and development in cryopreservation techniques is expected to drive the global cryopreservation equipment market growth over the forecast period.

Increasing funding initiatives by government organization for research and development in cryopreservation techniques is expected to drive the global cryopreservation equipment market growth over the forecast period. For instance, in February 2017, the U.K. Stem Cell Bank, funded by Medical Research Council, U.K. and Biotechnology and Biological Sciences Research Council, provides quality controlled, ethically approved, assured repository of human embryonic, and fetal and adult stem cell lines for research and healthcare developments. The U.K. Stem Cell Line Registry lists the human embryonic stem cells, which are approved to be used in the U.K. Moreover, in February 2017, U.K. Stem Cell Bank (UKSCB) distributed the human cell lines developed at the University of Sheffield for use in medical therapies and research.

Global Cryopreservation Equipment 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 had declared it a public health emergency on January 30, 2020.

COVID-19 can affect the economy in three main ways: by directly affecting production and demand of medical devices, personal protecting equipment, stem cell banking, cord cell banking by creating disruptions in distribution channels. Due to nationwide lockdowns, several countries, such as China, India, Saudi Arabia, U.A.E., Egypt, and others, are facing problems with regards to the transportation of cryopreservative equipment from one place to another.

However, the COVID-19 pandemic had a negative impact on the global cryopreservation equipment market, owing to the diverted focus of people to financial crisis created by ongoing covid-19 pandemic due to economic uncertainties and recession. For instance, according to an article published by the National Center for Biotechnology Information, geopolitical instability remains the top-cited warning to the global economy, as it was in the March 2022 survey, and inflation has overtaken volatile energy prices to become the second-most-cited concern. Supply chain disruptions round out the top three global risks, followed by volatile energy prices and rising interest rates.

Global Cryopreservation Equipment Market: Key Developments

In April 6 2022, TC Biopharm Plc., a clinical stage biotechnology company developing platform allogeneic gamma-delta T cell therapies for cancer and viral indications, had successfully registered the UK trademark "CryoTC", for the Company's proprietary process for freezing and thawing of its lead oncology product, OmnImmune. CryoTR is TC BioPharm's unique process of cryopreservation, which is performed in a controlled rate freezer using an optimized protocol. OmnImmune is an allogeneic unmodified cell therapy consisting of activated and expanded gamma delta T cells.

Global Cryopreservation Equipment Market: Restraint

The major factors that hinder growth of the global cryopreservation equipment market include low awareness about the benefits of preserving umbilical cord banking (UCB), limits its application in the long runand.

Key Players

Major players operating in the global cryopreservation equipment market include Thermo Fisher Scientific, Inc., Custom Biogenic Systems, Chart Biomedical Co. Ltd., Merck KGaA, Barber-Nichols Inc., Praxair Technology, Inc., Linde LLC, Planer PLC, Cryologic Pty. Ltd., Charter Medicals, Nikkiso Cryo Inc., Cryogenic Control, and Haimen United Laboratory Equipment Development Co., Ltd.