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| Global Cryopreservation Equipment Market Size |
Cryopreservation equipment plays a vital role in organs and tissue preservation
by freezing biological products at ultralow temperatures. The equipment helps
maintain the structural integrity and viability of the biomaterials during
cryopreservation and thawing procedures. Cryopreservation finds widespread
applications in stem cell therapies, IVF treatments, blood transfusion services
and more. With rising incidences of chronic diseases and success rates of organ
transplantation, the demand for transplantable organs and tissues is surging.
However, the supply continues to fall short of demand due to limited organ
availability. This is boosting research activities in organ cryopreservation
with the aim of increasing the transplantable organ pool.
The global Cryopreservation Equipment Market is estimated to be valued at US$ 10436.3 million in 2024 and is expected to exhibit a CAGR of 11%
over the forecast period 2024 to 2031, as highlighted in a new
report published by Coherent Market Insights.
Market key trends:
The rising demand for organ transplantation is a key trend fueling advances in organ
cryopreservation technologies. Research in organ cryopreservation aims to
increase the pool of organs available for transplantation by optimizing
cryopreservation and transplantation techniques. Cryopreservation allows
long-term storage of transplantable organs and tissues at ultralow sub-zero
temperatures until required for transplantation procedures. This significantly
increases the timeframe for organ utilization and matching between donors and
recipients. The development of new cryopreservation protocols can help address
the growing shortage of organs and improve transplantation outcomes.
Segment Analysis
The cryopreservation equipment market is dominated by equipment used for
cryopreservation of stem cells. Stem cell banking is a major application area
of cryopreservation equipment. The global stem cell banking market is growing
at a rapid pace due rising awareness regarding the therapeutic potential of
stem cells in treating chronic diseases. Equipment used for cryopreservation of
cord blood stem cells accounts for over 35% of the overall cryopreservation
equipment market share. Factors such as the increasing popularity of cord blood
banking for future medical applications and growing emphasis on family stem
cell banking drives this segment.
Key Takeaways
Global
Cryopreservation Equipment Market Size is expected to witness high
growth over the forecast period. Rapid advancements in regenerative medicine
and high demand for cord blood stem cells banking are fueling market expansion.
The global Cryopreservation Equipment Market is estimated to be valued at US$ 10436.3 million in 2024 and is expected to exhibit a CAGR of 11%
over the forecast period 2024 to 2031.
North
America currently holds a dominant share of over 45% of the cryopreservation
equipment market. High healthcare spending, presence of leading industry
players, and favorable regulatory environment supports the growth of
cryopreservation equipment in the region. The Asia Pacific cryopreservation
equipment market is projected to witness the highest CAGR during the forecast
period. Rapid economic development, rising focus on advancing healthcare
infrastructure, growing medical tourism industry, and increasing governmental
investments in healthcare are driving market growth in the Asia Pacific region.
Countries such as China, Japan, South Korea and India are expected offer high
growth opportunities. Growing stem cell therapy industry in China and large
population pushing demand for cord blood banking in Southeast Asian nations
will further aid regional expansion.
Key players:
Key players operating in the cryopreservation equipment market are Thermo
Fisher Scientific Inc., Charter Medicals, Linde Healthcare, Praxair Technology
Inc., Angioblast Systems Inc., Custom Biogenic Systems, Himedia Laboratories,
Barber Nichols Inc., Merck KGaA, and Hamilton Thorne Inc.
Thermo Fisher Scientific Inc. is a leading player with a wide range of
cryopreservation equipment offerings. The company provides a portfolio of
medical freezers, liquid nitrogen tanks, cryogenic vials and other consumables
through its Nunc, Nalgene and Gibco brands. Chart MVE Biological Systems is
another major player focusing on manufacturing controlled rate freezers and
cryogenic storage equipment.
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