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The global Cell Cryopreservation Market Growth Accelerated by Increased Usage of Cryopreservation Technique

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Anubhav mishra
The global Cell Cryopreservation Market Growth Accelerated by Increased Usage of Cryopreservation Technique

Cell cryopreservation is a technique in which cells are preserved by cooling them to sub-zero temperatures. It finds applications in blood banks, fertility clinics, stem cell therapy and research laboratories for preservation of tissues, embryos and stem cells. Cell cryopreservation allows long term storage of biological samples for future use and transportation.

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 5.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:

Increased usage of cryopreservation in stem cell therapy and rising prevalence of chronic conditions are expected to drive the demand for cell cryopreservation techniques over the forecast period. Stem cell therapy has emerged as a promising treatment option for various chronic conditions like diabetes, cardiovascular diseases and neurological disorders. Cell cryopreservation enables long term storage of stem cells which can be used for treatment whenever required. This has increased the adoption of cell cryopreservation services globally.


Segment Analysis

The global Cell Cryopreservation market is dominated by the software and services sub-segment. This segment holds the largest market share owing to the increasing need for cryopreservation solutions and services by biobanks and research organizations for long-term storage of stem cells and other biospecimens. Cell banking has become crucial for clinical applications as well as research purposes leading to increased demand for cryopreservation related software and services.

Key Takeaways

The global Cell Cryopreservation market is expected to witness high growth during the forecast period of 2023 to 2030. The market is anticipated to reach a value of US$ 370.2 Mn by 2030 expanding at a CAGR of 5.7% during the same period.

Regional analysis

North America dominates the global Cell Cryopreservation market and is anticipated to continue its dominance during the forecast period. Significant research funding, presence of major biobanks and research laboratories, and increasing stem cell therapy trials are some of the key factors supporting the growth of the market in the region. Asia Pacific market is expected to grow at the highest CAGR during the forecast period owing to rising life sciences research and growing healthcare expenditure in the region.

Key players

Key players operating in the Cell Cryopreservation market include BASF SE, Bayer Group, AkzoNobel N.V., The Dow Chemical Company, LyondellBasell Industries Holdings B.V., E.I. DuPont de Nemours and Company. These players are focusing on new product launches and strategic collaborations to strengthen their market position.

Explore more trending article on this topic:https://www.newsstatix.com/cryopreservation-of-cells-is-driven-by-growing-applications-in-stem-cell-reproductive-and-drug-discovery-technologies/

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