The latest report on “Cryopreservation Equipment Market (Type – Freezer, Incubators, Sample Preparation, and Other Types; Application – Cord Blood Stem Cells, Sperms, Semen and Testicular Tissues, Embryos and Oocytes, and Other Application; End User – Stem Cells Banks, Biotechnology, Pharmaceutical Organizations, Contract Research Organizations, Stem Cell Research Laboratories, and Research and Academic Institutes): Global Industry Analysis, Trends, Size, Share and Forecasts to 2025.” The global cryopreservation equipment market is projected to grow at a CAGR of 11.5% over the forecast period of 2019-2025.
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Cryopreservation is the process that is used to preserve the biological samples such as cells, organs, organelles, tissues, extracellular matrix at a subzero temperature wherein the activity of the chemical and enzymes get to stop. It is performed in the apparatus called cryopreservation equipment. A certain amount of nitrogen is used to maintain ultra-low temperature. IRMS uses the cryopreservation to freeze and then thaw the eggs, embryo or sperm for the use in vitro fertilization. And with the availability of the frozen embryo, it’s not necessary that a woman needs to undergo stimulation by fertility drugs in order to have an embryo transfer during an infertility treatment cycle.
Globally the applications of cryopreservation have increased significantly due to the substantial growth in application areas such as cryopreservation is used in the biopharmaceutical industry for freezing various cells such as mammalian cells to produce high-value protein therapeutics. In addition, for therapy and storage of stem cells cryopreservation is used. Thus, increasing initiatives by the government for spreading awareness regarding stem cell preservation is anticipated to experience the rapid growth of the cryopreservation equipment market. On the other hand, the government is taking initiative towards funds and grants to encourage research in biomedical cells and the development of regenerative medicine. This, in turn, helps the manufactures as well as a research institute to innovate and develop regenerative medicine. These factors contribute to the growth of this market. For handing the equipment high skilled professional is required.
However, the lack of skilled professionals may lead to severe injuries while handling the equipment yet remains one of the major restraints to the market. The equipment that is used for the slow freezing is expensive, this also hampers the growth of this market. Moreover, increasing awareness about the use of cryopreservation of critical biomedical samples in the various industries such as pharmaceutical, zoology industry, clinical medicine, biomedical research is likely to offer several avenues for global cryopreservation equipment market growth.
Geographically, North America holds the largest revenue share and is projected to continue the dominance over the forecast period owing to the increasing mergers, acquisition, and collaboration activity among leading players in the region. The Asia Pacific is the second-largest market share in this market due to the increasing stem cell research, growing at a faster rate as compared to the world average growth in research while it is also used in the production of regenerative medicines. Europe is expected to grow the highest CAGR in the forecast period.
The report on the global cryopreservation equipment market covers segments such as type, application, and end-user. On the basis of type, the sub-markets include a freezer, incubators, sample preparation, and other types. On the basis of application, the sub-markets include cord blood stem cells, sperms, semen, and testicular tissues, embryos and oocytes, and other application. On the basis of end-user, the sub-markets include stem cell banks, biotechnology, pharmaceutical organizations, contract research organizations, stem cell research laboratories, and research and academic institutes.
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The report provides profiles of the companies in the market such as Thermo Fisher Scientific Inc., Chart Biomedical (Chengdu) Co Ltd, Custom Biogenic Systems, Barber-Nichols Inc., Merck KGaA, Linde plc. Praxair, Inc, CryoLogic Pty. Ltd, Planer PLC, and General Electric Company.
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=> Comprehensive analysis of global as well as regional markets of the cryopreservation equipment.
=> Complete coverage of all the product type and application segments to analyze the trends, developments, and forecast of market size up to 2025.
=> Comprehensive analysis of the companies operating in this market. The company profile includes analysis of product portfolio, revenue, SWOT analysis and the latest developments of the company.
=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus to invest, consolidate, expand and/or diversify.