Cryopreservation Equipment Market By Equipment Type (Freezers, Incubators, and Others), By Cryogen (Liquid Nitrogen, Others), By Application (Cord Blood Stem Cells, Sperms, Semen, Other Applications), and Region - Global Forecast to 2029
26th July 2019
- find_in_page Our Research Methodology is based on the following main points:
- Data Collections and Interpretation
- Data Validation
- Final Projections and Conclusion
The global cryopreservation equipment market is estimated to be valued at more than US$ 2 Bn in 2020, and is expected to register a CAGR of 12.2%. The global cryopreservation equipment market report has been segmented on the basis of equipment type, cryogen, application, end user, and region.
Introduction: Cryopreservation Equipment
Cryopreservation Equipment such as controlled rate freezers, cryogenic incubators, thermocouple sensors for temperature detection, vapor and liquid phase storage, and specialized freezing vessel are generally used for cryopreservation of cells. The extent and viability of cryoinjury in a cell depend on the water content in cryoinjury and the capability of that water to crystallize during the freezing process. The variables that stimulus the survival rate of a cell are the cooling rate, the rewarming rate used, the concentration of cryoprotective agents (CPAs), and the storage temperature. For the preservation of critical biological samples to prevent them from degradation, effective cryopreservation techniques have been developed. Use of CPAs such as dimethyl sulfoxide (DMSO), sucrose, trehalose, and glycerol for cryopreservation is one of the most common technique. Storing cells in liquid nitrogen at ultralow temperature storage is another technique used for cryopreservation. Since ultra-low temperature stops biological activity comprising all biochemical reactions, biological samples can be preserved without cell death and degradation. Fields such as clinical medicine, zoology, biotechnology, and biomedical research use cryopreservation for biological samples of genes, cells of endangered species, etc.
Dynamics: Global Cryopreservation Equipment Market
Government in many countries are allocating funds and grants to encourage research in biomedical cells and development of regenerative medicine. These funds can help many manufacturers and research institutes to innovate and develop regenerative medicine. Thus, increased government funding will drive demand for biomedical samples for research, thereby inducing demand for cryopreservation equipment for the preservation critical biomedical samples. Cryopreservation techniques are used in biopharmaceutical industry for freezing various cells such as mammalian cells to produce high-value protein therapeutics. Therefore, rapidly growing biopharmaceutical industry is another factor driving global cryopreservation equipment market growth. Cryopreservation process is used for therapy and storage of stem cells. Thus, increasing demand for self-storage of cord blood stem cells coupled with increasing initiatives by government for spreading awareness regarding stem cells preservation is another factor driving target market growth.
Cost of cryopreservation equipment is high especially, equipment used for slow freezing are expensive, which might hamper market growth.
Handling cryopreservation equipment requires specials skills. A slightest slip while handling equipment can lead to severe injuries, which may discourage many to take up careers in this field. Therefore, lack of skilled personnel for handling the cryopreservation equipment may hinder market growth.
Awareness about use of cryopreservation of critical biomedical samples for pharmaceutical, biotechnology, biomedical research, zoology industry, and clinical medicine is increasing. Thus, growth of industries such as pharmaceutical, biomedical research, biotechnology, clinical medicine, and zoology is likely to offer several avenues for global cryopreservation equipment market growth.
Major manufacturers of cryopreservation equipment are focusing on expanding their product portfolio and geographic presence by adopting strategies such as mergers & acquisitions, strategic collaboration with regional manufacturers, and new product launches. For example: Chart Biomedical introduced MVE HEco™ next-generation high-efficiency freezer. Furthermore, Chart Industries, Inc. acquired Harsco AXC to reinforce strategic focus on core cryogenic engineering and products.
Segment and Region Analysis: Global Cryopreservation Equipment Market
Market Analysis by Equipment Type:
The freezers segment is estimated to record highest share in terms of revenue in the global cryopreservation equipment market, and is projected to witness highest growth rate of more than 12.6% over the 10-year forecast period.
Market Analysis by Cryogen:
Among the cryogen segments, the liquid nitrogen cryogen segment is projected to contribute largest revenue share of around 85% in the global cryopreservation equipment market and is projected to continue to dominate in the next 10 years. The liquid nitrogen segment is projected to witness highest CAGR of over 12.1% over the forecast period.
Market Analysis by Application:
On the basis of application segmentation, the sperms, semen, and testicular tissues segment is expected to contribute major revenue share in the global cryopreservation equipment market. The cord blood stem cells segment is expected to witness highest CAGR of over 12.7% in terms of revenue over the forecast period, followed by the sperms, semen, and testicular tissues segment in terms of revenue growth rate.
Market Analysis by End User:
Among all the end user segments, the stem cell banks end user segment is expected to contribute major revenue share in the global cryopreservation equipment market and is expected to witness second-highest CAGR of over 11.9% over the forecast period. The stem cell research laboratories segment is projected to register highest CAGR of more than 13% over the 10-year forecast period. This is due to increasing investments by major private players and government on R&D activities in the field.
Market Analysis by Region:
The North America cryopreservation equipment market is expected to record the largest revenue share in the global market and is projected to continue to dominate with largest revenue share over the next 10 years. The Europe market is estimated to account for second-highest revenue share in the target market, followed by the Asia Pacific market. In addition, the Asia Pacific market is expected to witness highest compound annual growth rate of more than 13.2% over the 10-year period.
Market Segmentation of Global Cryopreservation Equipment Market:
Segmentation by Equipment Type:
- Sample Preparation Systems
Segmentation by Cryogen:
- Liquid Nitrogen
- Other Cryogens
Segmentation by Application:
- Cord Blood Stem Cells
- Sperms, Semen, and Testicular Tissues
- Embryos & Oocytes
- Other Applications
Segmentation by End User:
- Stem Cell Banks
- Biotechnology and Pharmaceutical Organizations
- Stem Cell Research Laboratories
- Other End Users
Segmentation by Region:
- North America
- Asia Pacific
- South America
- Middle East & Africa
- Thermo Fisher Scientific Inc.
- General Electric Company
- Praxair Inc.
- Custom Biogenic Systems Inc.
- Planer PLC
- Chart Biomedical Co. Ltd.
- Brooks Life Sciences
- CryoLogic Pty. Ltd.
- Charter Medical, Ltd.
- Chapter 1
- 1.1 Introduction
- 1.2 Global Cryopreservation Equipment Market is segmented on the basis of Equipment Type, Cryogen, Application, End-user and Region:
- 1.3 Drivers of Global Cryopreservation Equipment Market
- 1.4 Restraints of Global Cryopreservation Equipment Market
- 1.5 Opportunities for Global Cryopreservation Equipment Market
- 1.6 Trends of Global Cryopreservation Equipment Market
- 1.7 Macro-economic Factors
- 1.8 Opportunity Map Analysis
- 1.8.1 Optimistic Scenario:
- 1.8.2 Likely Scenario:
- 1.8.3 Conservative Scenario:
- 1.9 Opportunity Orbits
- 1.10 Industry Chain Analysis
- 1.11 Market Investment Feasibility Index
- 1.12 Pest Analysis
- 1.13 PORTER’s Five Forces Analysis
- 1.14 Regional Market Share and BPS Analysis
- Chapter 1
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- Which are the top three players operating in the global cryopreservation equipment market?General Electric Company, Thermo Fisher Scientific Inc., and Praxair Inc. are the top three players operating in the global market.
- Which equipment type segment is projected to account for majority revenue share in the global cryopreservation equipment market in 2023?The freezers segment is projected to account for majority revenue share of over US$ 1.7 Bn in the global cryopreservation equipment market in 2023.
- What will be the revenue contribution of North America market in the global cryopreservation equipment market in 2029?North America market is projected to account for highest revenue share of approximately US$ 2.3 Bn in the global cryopreservation equipment market in 2029.
- What is the CAGR at which the revenue from the global cryopreservation equipment market is projected to expand?The global cryopreservation equipment market is projected to witness a CAGR of 8.3% over the forecast period.
- Which cryogen type segment is expected to contribute highest revenue share in the global cryopreservation equipment market?The liquid nitrogen cryogen type segment is projected to contribute highest revenue share in the global cryopreservation equipment market over the next 10 years.
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