The growing prospects of cell-based therapies to Drive advances in cell cryopreservation processes

Cell Cryopreservation Market 




The cell cryopreservation market is estimated to be valued at US$ 8,659.4 Million in 2022 and is expected to exhibit a CAGR of 22.4% over the forecast period 2022-2030, as highlighted in a new report published by Coherent Market Insights.


Market Overview:


Cell cryopreservation involves storing cells at very low temperatures, usually in liquid nitrogen, to maintain the viability and biological activity of the cells over a long period of time. The process finds widespread applications in biomedical research, embryonic stem cell therapies, regenerative medicine, and medical diagnosis.


Market Dynamics:


The increasing R&D investments by pharmaceutical and biotech companies in cell-based therapies are expected to boost the demand for cell cryopreservation over the forecast period. Rapid developments in stem cell therapies and regenerative medicine are also fueling the market growth. For instance, mesenchymal stem cells derived from bone marrow, adipose tissue, and umbilical cord blood are being extensively researched for regenerating damaged tissues. The emergence of novel biological therapeutics such as chimeric antigen receptor T-cell (CAR-T) therapies used in cancer treatments will further support the need for reliable cryopreservation of these therapeutic cells.

Market key trends:



One of the key trends in the cell cryopreservation market is the rising adoption of contract cell and gene therapy manufacturing. There is an increasing preference for outsourcing manufacturing activities to specialized contract service providers owing to their advantages such as access to advanced infrastructure and expertise. This helps companies focus on their core areas of research. Contract service providers assisting with various cryopreservation needs from banking to distribution is driving the growth of the market.


SWOT Analysis



Strength: Cryopreservation helps maintain the viability and integrity of cells and tissues for long term storage and future use. This makes it an integral part of therapies involving stem cells and tissues.
Weakness: Initial high costs associated with setting up cryopreservation facilities can limit its adoption. Strict regulations also increase compliance burden.
Opportunity: Growing stem cell research and regenerative medicine provides scope for innovations in cryopreservation techniques and solutions. Rising incidence of cancer is also boosting the demand.
Threats: Lack of trained professionals and standard operating protocols in some regions pose procedural challenges. Equipment malfunctions can damage priceless samples.


Key Takeaways



The Global Cell Cryopreservation Market Size  is expected to witness high growth, exhibiting CAGR of 22.4% over the forecast period, due to increasing prevalence of chronic diseases. The market size was valued at US$ 8,659.4 Million in 2022.

Regional analysis: North America dominated the market in 2022 and is expected to maintain its position during the forecast period. This is attributed to presence of advanced healthcare facilities, high healthcare spending, and growing focus on personalized medicine in the region. However, Asia Pacific is anticipated to exhibit the fastest growth rate owing to rising research funding, growing stem cell banking industry and increasing patients' population.

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, Biogenuix, and Evia Bio. These players are focusing on new product launches, collaborations and expansions to increase their market share.


Read More -  https://www.insightprobing.com/cell-cryopreservation-market-share-demand-analysis-size-and-forecast/


 

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