The Global Cryopreservation Equipment Market , by Equipment (Freezers (Cryopreservation Freezers, Drystore Freezers), Incubators, Sample Preparation System, and Accessories), by Cryogen (Liquid Nitrogen, Oxygen, Argon, and Liquid helium), by Application (Cord Blood Stem Cells, Sperms, Semen & Testicular Tissues, Embryos & Oocytes, Other Application), by End User (Stem Cells Banks, Biotechnology and Pharmaceutical organizations, Contract Research Organizations, Stem Cell Research Laboratories, and Research and Academic Institutes), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) 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), as highlighted in a new report published by Coherent Market Insights.
Increasing demand for fertility treatment such as in-vitro fertilization (IVF) treatment and therapies for women and higher effectiveness of frozen embryos in the IVF procedures are expected to drive growth of the cryopreservation equipment market. For instance, research findings published in the TIME USA, LLC., a magazine and report publisher, in January 2018, conducted a study including 3,000 women in Vietnam who underwent IVF procedures, and were randomly assigned to receive frozen or fresh embryo. 36% of the women implanted with frozen embryo had live births, as compared to the 31% of them who were implanted with fresh embryo. Additionally, researchers at the Penn State College of Medicine, located in the U.S. conducted a five-week study on women suffering from polycystic ovarian syndrome (PCOS) in the U.S. Those who received frozen embryos during the in-vitro fertilization recorded safer and more successful pregnancies than those who received fresh embryos. Frozen embryos lowered the risk of ovarian hyper stimulation syndrome by 7.1% to 10.3%, as compared to using fresh embryos. Freezing embryos offers increasing the advantage of genetic testing, to reduce the chance of genetic diseases prior to implantation of the embryo. The umbilical cord blood (UCB) stem cells is non-invasive alternative source of hematopoietic stem cells to treat a variety of blood and bone marrow diseases, blood cancers, metabolic disorders, and immune deficiencies. Umbilical cord blood is required to be collected at the time of birth and be cryopreserved for future applications. However, low awareness regarding the benefits of preserving umbilical cord banking (UCB), limits its application in the long run, thereby limiting growth of the cryopreservation equipment market.
Global Cryopreservation Equipment Market – Impact of Coronavirus (COVID-19) Pandemic
The COVID-19 pandemic and lockdowns in various countries across the globe have impacted the financial status of businesses across all sectors, including the private healthcare sector. The COVID-19 pandemic has impacted the entire supply chain of the healthcare industry, mainly due to strict lockdown in several regions. Private healthcare is one such sector that has been impacted significantly by the COVID-19 pandemic.
However, the COVID-19 pandemic had a negative impact on the global cryopreservation equipment market, owing to huge demand for the cryopreservation equipment was unable to meet public demand due to increasing risk of Covid-19 pandemic. For instance, in March 2020, according to an article published by National Center for Biotechnology Information, the Secretary of Health and Human Services (HHS) declared a public health emergency in the U.K. on January 31, 2020, under section 319 of the Public Health Service Act, in response to COVID-19.
Global Cryopreservation Equipment Market: Key Developments
On June 28 2022, MilliporeSigma, the U.S. and Canada based Life Science business of Merck KGaA, Darmstadt, Germany, launched the BioContinuum Seed Train Platform, which enables biomanufacturers to use seed train intensification in upstream bioprocessing. The company launched the product at the European Society for Animal Cell Technology meeting held in Lisbon, Portugal. The platform contains proprietary products for N-1 perfusion and high cell density cryopreservation (HCDC), including the off-the-shelf medium, Cellvento 4CHO-X Expansion Medium, which is specifically designed for seed train expansion and N-1 perfusion, the Cellicon Perfusion Solution for enhanced cell retention, and closed processing-ready Mobius HCDC Research and Development (R&D) single-use assemblies for high cell density cryopreservation.
Browse 43 Market Data Tables and 48 Figures spread through 180 Pages and in-depth TOC on “Global Cryopreservation Equipment Market ”- Forecast to 2030, Global Cryopreservation Equipment Market , by Equipment (Freezers (Cryopreservation Freezers, Drystore Freezers), Incubators, Sample Preparation System, and Accessories), by Cryogen (Liquid Nitrogen, Oxygen, Argon, and Liquid helium), by Application (Cord Blood Stem Cells, Sperms, Semen & Testicular Tissues, Embryos & Oocytes, Other Application), by End User (Stem Cells Banks, Biotechnology and Pharmaceutical organizations, Contract Research Organizations, Stem Cell Research Laboratories, and Research and Academic Institutes),and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
https://www.coherentmarketinsights.com/market-insight/cryopreservation-equipment-market-1356
Moreover, increasing launches of new products is expected to drive the global cryopreservation equipment market over the forecast period. For instance, in October 2021, Panasonic Healthcare Holdings Co., Ltd., Laboratory and Medical equipment has designed Cryogenic ULT Freezers, which provides Ultra-low -150ºC freezers - Dry storage. The Panasonic Healthcare Holdings Co., Ltd. (PHCbi) patented vacuum insulated panel (VIP) insulation panel thin-wall composite equipped with MDF-C2156VAN, which is a high-efficiency design that yields more interior storage volume in a conventional freezer footprint.
Key Takeaways of the Global Cryopreservation Equipment Market:
- Global cryopreservation equipment market is expected to exhibit a CAGR of 13.2% during the forecast period due to increasing adoption of inorganic strategies such as partnership to deliver cryopreservation services with more efficiency. For instance, in January 2022, Cryoport Inc., a leader in temperature-controlled supply chain solutions for the life sciences industry, entered into a strategic partnership with Cell Matters, S.A. to deliver to the life sciences industry efficient cryopreservation services for leukapheresis derived therapies supporting both autologous and allogeneic cell therapies. Cell Matters enhances cell therapy productivity by turning cryopreservation into a competitive advantage, offering an integrated set of Good Manufacturing Practices (GMP) services, in line with regulatory, quality and GMP requirements of the cell therapy industry. The company uniquely combines expertise in cryobiology, cell therapy production, and bio-logistics. Further, Cell Matters has launched a cryopreservation platform in January 2022, dedicated to the cryopreservation of leukopaks with the first international cell therapy customers is onboarding.
- Among cryogen, the liquid nitrogen segment holds a dominant position, owing to increasing adaptation of liquid nitrogen for preserving biological samples in vapor and liquid phases for longer periods of time.
- Among regions, North America is estimated to account for the largest market share, followed by Europe in the global cryopreservation equipment market over the forecast period, owing to increasing workshops and government initiatives for stem cell preservation in the U.S. For instance, in May 2021, according to National Center for Biotechnology Information, International Stem Cell Banking Initiative (ISCBI), the leading stem cell banks distributing human pluripotent stem cell (hPSC) lines for research and development, holds workshops around the world and online and regularly publishes summaries of discussions and consensus amongst experts in stem cell biology, biobanking technology, regulation and policy making which was firstly initiated in the U.S. The ISCBI activities had been supported by donations from government organizations, scientific foundations and a range of companies involved in stem cell research and development, which appear on the International Stem Cell Banking Initiative ISCBI website along with the conditions for such sponsorship. The donations have enabled International Stem Cell Banking Initiative (ISCBI) to make no charge for academic, regulatory and not for profit delegates at its meetings.
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.
