CRYOPRESERVATION EQUIPMENT MARKET ANALYSIS

Market Challenges And Opportunities

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.

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.

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.

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.

• Increasing number of government initiatives for preservation of stem cells
• Increasing funding initiatives by government organization for research and development in cryopreservation techniques