Cell Cryopreservation Market is Estimated to Witness High Growth Owing to Advancements in Cell Cryopreservation Techniques
Cryopreservation is a process used to preserve living cells and tissues by cooling them to extremely low temperatures typically using vapor phase of liquid nitrogen at −150 °C or below. Cell cryopreservation is widely used in biomedical applications like stem cell banking, tissue engineering, organ transplantation, and reproductive tissues preservation. It allows long term storage of viable cells, tissues, and organs at ultralow temperatures for future investigative and therapeutic applications. Advancements in cell cryopreservation techniques like use of programmable freezing containers and improved freezing protocols have increased cell viability post thaw.
The global cell cryopreservation market is estimated to be valued at US$ 228.8 Mn in 2023 and is expected to exhibit a CAGR of 22% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
The global cell cryopreservation market is witnessing a high growth due to advancements in cell cryopreservation techniques. Programmable freezing containers have automated the temperature control during freezing process of cells and tissues, which has improved freezing rates and cell viability. Further, improved freezing protocols using cryoprotective agents at optimum concentrations with controlled temperature reduction and storage in vapor phase of liquid nitrogen have successfully addressed issues related to formation of ice crystals. This has increased scope of applications involving long term storage of viable cells and tissues. These advancements are contributing significantly to the market growth. Further, growing stem cell therapy applications and tissue engineering practices are generating huge demand for cryopreserved stem cells and tissues which is fueling the market growth.
SWOT Analysis
Strength: Global Cell Cryopreservation Market Size helps in long term storage of cells and tissues. It enables researchers to preserve cell lines for future experiments and studies. Cells can remain viable after decades of cryopreservation which helps advancing research activities. Cryopreservation aids in shipping cells across geographies safely and prevent deterioration during transportation.
Weakness: Cryopreservation process requires sophisticated equipment and trained personnel. High capital investment and operating costs associated with cryopreservation equipment limits its adoption. Power outages and equipment malfunctions can damage stored cells and tissues. Cryopreservation may cause cell damage depending on the rate of freezing and thawing.
Opportunity: Growing stem cell research and regenerative medicine provides opportunities for cell cryopreservation market. Increasing investments by pharmaceutical and biotech companies in cell-based research will drive demand. Rising prevalence of chronic diseases increases focus on developing cell-based therapies augmenting market growth. Growing biobanks worldwide for long term storage of bio-samples acts as a growth driver.
Threats: Stringent regulatory norms pertaining to storage and transportation of biological samples poses challenges. Ethical issues related to stem cell research and use of aborted fetal cells can negatively impact the market. Competition from alternative preservation methods can threaten cryopreservation adoption.
Key Takeaways
The global cell cryopreservation market is expected to witness high growth. According to estimates, the market size will reach US$ 228.8 Mn in 2023 from US$ 189.2 Mn in 2020, witnessing a CAGR of around 22% during the forecast period.
North America currently dominates the market attributed to presence of major biobanks and research organizations. The region is expected to retain its lead position aided by ongoing clinical research and growing adoption of regenerative medicine therapies. Asia Pacific market is projected to witness fastest growth on back of increasing stem cell research, supportive government policies, and growing healthcare expenditure in countries like China and India.
Key players operating in the cell cryopreservation market are General Electric Company, Thermo Fisher Scientific Inc., Merck KGaA, AMS Biotechnology (Europe) Limited, Miltenyi Biotec GmbH, BioLife Solutions Inc., HiMedia Laboratories Pvt. Ltd., PromoCell GmbH, Corning Incorporated, Cooper Companies, Inc., Planer PLC, Bio-Rad Laboratories India Pvt. Ltd, Abcam plc., AMSBIO,
Get More Insights On This Topic: https://www.trendingwebwire.com/cell-cryopreservation-market-analysis-growth-forecast-outlook-2023-2030/
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