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Cryopreservation Equipment Market, by Product Type (Freezers, Incubators, Sample Preparation, and Accessories), by Cryogen (Liquid Nitrogen, Liquid Helium, Oxygen, and Argon), by Application (Cord Blood Stem Cells, Sperms, Semen and Testicular Tissues, Embryos and Oocytes, and Others), by End-User (Stem Cells Banks, Biotechnology, Pharmaceutical Organisations, Contract Research Organisations, and Stem Cell Research Laboratories), and by Region (North America, South America, Europe, Asia Pacific, The Middle East and Africa) - Size, Share, COVID Impact Analysis, Growth, Outlook, and Opportunity Analysis, 2020 - 2028

The use of cryopreservation technology allows for the long-term viability preservation of biological materials like cells, tissues, and organs by storing them at extremely low temperatures. This technology is frequently employed in industries like medicine, biotechnology, and research since the capacity to maintain biological materials is crucial for a number of uses like drug development, regenerative medicine, and the establishment of biobanks for future studies. In order to attain the extremely low temperatures needed for storage, cryopreservation equipment often uses liquid nitrogen or other cryogenic gases, and may comprise freezers, tanks, and other specialised devices created to satisfy the needs of certain applications.

In 2020, the Cryopreservation Equipment market was valued at US$ YY million, and it is anticipated to be around US$ YY million by 2027. Over the forecast period, the market is expected to grow at a CAGR of YY%.

Technological advancements, and increasing rates of chronic illnesses are the drivers, while Stringent regulatory requirements is a restraint

The emergence of new technologies, including automated cryopreservation equipment and the incorporation of radiofrequency identification (RFID) into this equipment, is anticipated to accelerate the market's expansion. For instance, Numerous research projects supported by the National Institutes of Health (NIH) in the US have focused on the creation of new cryopreservation methods. The NIH awarded a $3.2 million funding to researchers at the University of Wisconsin–Madison in 2021 to develop an automated system for cryopreserving stem cells. Adding to this, the government of Japan has supported a number of projects meant to encourage the creation of fresh cryopreservation techniques. The development of novel cryopreservation technologies is one of the regenerative medicine research and development initiatives that the Japanese government announced intends to fund in 2020 with an investment of YEN 100 billion (about $915 million).

Moreover, the demand for personalised medications has increased as chronic diseases including cancer, diabetes, and cardiovascular disorders are becoming more common. The market is expanding as a result of the usage of cryopreservation technology to keep biological samples for the creation of personalised medications. For instance, Cryopreservation technology has been used by the Mayo Clinic, a premier medical research institution in the United States, to store patient samples for the creation of customised drugs. In a recent study, scientists at the Mayo Clinic found genetic abnormalities that were fuelling the growth of cancer cells in some patients using cryopreserved patient samples. This information was then used to develop personalized cancer treatments.
However, a significant challenge for the business is the usage of cryopreservation equipment, which is subject to stringent regulatory regulations. The lengthy and expensive regulatory approval procedure may restrict market expansion. For instance, according to a 2021 study that appeared in the journal Cell and Tissue Banking, regulatory compliance was a significant problem for cryopreservation labs in Europe. According to the study, which polled 81 cryopreservation labs across 23 European nations, nearly half of the labs reported having trouble sticking to legal criteria.

Stem cell banks segment expected to account for significant market share by End-User segment

The global Cryopreservation Equipment market is mainly classified based on Product Type, Cryogen, Application, and End-User. On the basis of product type, the market is classified into freezers, incubators, sample preparation, and accessories. Based on the cryogen, the market is divided into liquid nitrogen, liquid helium, oxygen, and argon. Based on the application, the market is segmented into cord blood stem cells, Sperms, semen, and testicular Tissues, embryos and oocytes, and others. By end-user, the market is categorized into stem cells banks, biotechnology, pharmaceutical organisations, contract research organisations, and stem cell research laboratories.
By End-User, the stem cell banks segment holds a major market share in the cryopreservation equipment market. Stem cell banks are institutions that gather, refine, and store stem cells for potential use in therapeutic procedures. Stem cell banking has significant potential for both medical and scientific research. Stem cells are useful resources for figuring out the biology of many diseases and creating new treatments. The rising number of uses for stem cell therapy in the treatment of various diseases and disorders has led to a surge in the need for stem cell banking services in the past few years. For instance, therapies based on stem cells have demonstrated promise in the treatment of autoimmune diseases, Parkinson's disease, and cancer.
The stem cell banks market sector is anticipated to keep expanding in the upcoming years due to rising demand for stem cell treatments and research, as well as rising investments in stem cell banking infrastructure and technology. For instance, A group of private investors made a £2 million investment in the stem cell banking startup Smart Cells in January 2021. The money invested will be utilised to grow the business and create fresh stem cell treatments. Adding to this, the Cordlife stem cell banking corporation announced in March 2021 that it will invest $15 million in Cordlife Sciences India, a subsidiary, to promote the growth of its stem cell banking activities in India.

Interesting Facts of Cryopreservation Equipment Market

Since the 1950s, cryopreservation technology has been used to preserve biological material at extremely low temperatures, including cells, tissues, and embryos.

By product type, the freezer segment dominates the market for cryopreservation equipment. The long-term preservation of biological materials, such as blood, tissues, and cells, at extremely low temperatures requires the use of freezers.

In terms of cryogen type, the liquid nitrogen segment dominates the market for cryopreservation equipment. Due to its capacity to sustain extremely low temperatures for lengthy periods of time, liquid nitrogen is frequently used in cryopreservation equipment.
Based on application, the market for cryopreservation equipment is dominated by the sector that deals with embryos and oocytes. For in-vitro fertilisation (IVF) and other assisted reproductive technologies (ART), cryopreservation of embryos and oocytes is covered in this segment.

The European Union has supported a number of research initiatives in order to develop novel cryopreservation technologies. The development of an automated system for cryopreserving biological samples was the focus of a €2.5 million grant from the European Union's Horizon 2020 programme given to a group of academics from throughout Europe in 2020.

The major end-users of cryopreservation equipment include pharmaceutical organisations, biotechnology firms, and stem cell banks.

• Cryopreservation technology is now used to preserve not just human tissue but also animal and plant samples, opening up new business expansion prospects.

North America will account for the largest share of the Cryopreservation Equipment industry

The North America cryopreservation equipment market is expected to witness significant growth globally in the forecast period. Many elements contribute to the dominance of the North American region, including the availability of an established framework for research and development, rising government financing for research initiatives, and the rising demand for personalised treatment. Additionally, the area is home to a number of significant market participants that are making significant investments in R&D projects to create cutting-edge cryopreservation equipment. For instance, the stem cell therapy company Mesoblast's announced a $90 million private investment to support stem cell-based drugs' development in February 2021. The funds will be used to develop clinical trials for the company's medications, such as those for respiratory distress linked to COVID-19. Adding to this, Leading company in the market Thermo Fisher Scientific declared in March 2021 that it has introduced a new cryopreservation product called Thermo Scientific HyClone Cytiva Freeze Medium, which is intended to enhance the stability of cell cultures and cell-based therapies.

Global Cryopreservation Equipment Market key Players:

• Some of the major competitors in the global Cryopreservation Equipment market include Barber-Nichols Inc., Chart Biomedical Co. Ltd., Cryologic Pty. Ltd., General Electric Company, Planer PLC, Custom Biogenic Systems, Merck KGaA, Thermo Fisher Scientific, Inc., Praxair Technology, Inc., Nikkiso Cryo Inc., and PHC Holdings Corporation.
• The Cryopreservation Equipment is extremely competitive with aggressive market strategies of global and regional companies looking to strengthen market position through new product launches and facility expansions. The following are some recent market developments:
• In April 2021, BlueRock Therapeutics, a provider of stem cell therapies, declared that Bayer AG will buy it for $1 billion. BlueRock's stem cell-based therapeutics for cardiovascular and neurological illnesses will be developed with the help of the acquisition.
• In April 2021, Thermo Fisher Scientific Inc. declared that it has paid $17.4 billion to acquire PPD Inc., a prestigious contract research organisation (CRO). Thermo Fisher's position in the biotech and pharmaceutical sectors is anticipated to be strengthened by the acquisition, which will also aid in the advancement of personalised medicine.
• In March 2021, StemExpress, LLC, a leading provider of products and services involving human cells, announced the expansion of its operations in California. The company's growing activities should help with the cell therapy and personalised medicine markets.

Frequently asked questions about global Cryopreservation Equipment market

Q: What is the current size of the global Cryopreservation Equipment market?
Ans: The Cryopreservation Equipment market was valued at YY million US$ in 2020 and is projected to reach YY million US$ by 2027, at a CAGR of YY% during the forecast period.

Q: What are the major opportunities in Cryopreservation Equipment industry?
Ans: Development of cutting-edge, automated equipment, rising use of stem cell therapies, and the possibility for cryopreservation to be used in organ transplantation are some of the key opportunities in the cryopreservation equipment market.

Q: What is major growth driving factor for Cryopreservation Equipment industry?
Ans: The rising need for regenerating therapies and personalised medications, as well as the rising incidence of chronic diseases, are the main growth drivers for the cryopreservation equipment market.

Q: Which region is expected to have the largest share of the Cryopreservation Equipment market?
Ans: North America region is expected to have the largest share of the Cryopreservation Equipment market.

Q: Which product type segment will dominate the Cryopreservation Equipment market?
Ans: By product type, the freezer segment dominates the market for cryopreservation equipment.