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| Global Cryosleep Market Size |
Cryosleep, also known as cryogenic suspension or cryogenics, is a process of
deep-freezing humans or animals to a temperature low enough that cellular
functions and biological actions come to a near standstill. Cryosleep offers
advantages such as reversible suspension of animation, preservation of the
intact human body, no need for embalming chemicals, and arrest of nearly all
molecular and medical processes associated with aging and degeneration.
The global
Cryosleep Market is estimated to be valued at US$ 3.18 Bn in 2023 and is expected to exhibit a CAGR of 5.5% over the forecast period
2023 to 2030, as highlighted in a new report published by Coherent Market
Insights.
Market key trends:
One of the key trends driving growth in the cryosleep market is the increased
uptake in anti-aging treatments. Cryosleep allows preservation of the human
body and suspension of aging at a cellular level. As life expectancy increases
globally and the aging population grows significantly, anti-aging treatments
are witnessing high demand. People are increasingly opting for cryosleep with
the goal of halting aging and staying biologically young. If technological
advances allow resuming animation after many years, cryosleep could prove a
very effective way to extend healthy human lifespan indefinitely. This growing
focus on defeating aging through science is propelling the cryosleep market
higher.
Segment
Analysis
The global cryosleep market is dominated by the procedure segment which
accounts for more than 60% share of the overall market. Cryosleep procedures
involve using ultra-low temperatures to temporarily suspend biological activity
in humans and animals with the intention of future revival. It is considered as
one of the most effective form of cryopreservation due to reduced chances of
damage to cellular structures at ultra-low cryogenic temperatures.
Key Takeaways
Global
Cryosleep Market Size is expected to witness high growth driven by
rising demand for advanced procedures for preserving human life with an aim of
future revival.
Regional
analysis: The North American cryosleep market is valued at over US$ 1.2 Bn
currently and is expected to grow at a CAGR of around 6% during the forecast
period. This can be attributed to rising cases of life-threatening diseases and
growing demand for advanced treatments to extend human life in countries such
as the US and Canada. In addition, large patient pool, presence of major market
players and rising healthcare expenditure contribute to the regional market
growth.
Key players: Key players operating in the cryosleep market are Purdue
Pharmaceuticals L.P., Titan Pharmaceuticals, Inc., Pfizer Inc., Mallinckrodt,
Pfizer Inc., Assertio Holdings, Inc., Par Pharmaceutical, Amneal
Pharmaceuticals LLC, Trevena, Inc., Lupin, and Endo Pharmaceuticals, Inc.
Purdue Pharmaceuticals holds significant share owing to its diverse product portfolio
and strong global distribution network. Titan Pharmaceuticals is another major
player focusing on research initiatives for developing innovative solutions.
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