May 29, 2024
Cell Cryopreservation Market

The Growing Demand For Cell Preservation Is Driving The Cell Cryopreservation Market

Cell cryopreservation has played a crucial role in medicine, from enabling organ transplantation to breakthroughs in regenerative cell therapy. It refers to the process of cell vitrification at ultralow temperatures, typically with liquid nitrogen, to preserve living cells and tissues. Stem cells, sperm and egg cells, umbilical cord blood cells, and biopsied cells are commonly cryopreserved for future therapeutic use or reproductive purposes. The technology allows long-term storage of biomedical materials without significant damage, with potential applications in drug discovery, toxicology testing, and assisted reproduction.

The global Cell Cryopreservation Market is estimated to be valued at US$ 228.8 million  in 2023 and is expected to exhibit a CAGR of 5.7%  over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

The rising number of fertility clinics, stem cell banks, and biobanks is driving the demand for cell cryopreservation processes and solutions. Furthermore, growing diseases prevalence requiring regenerative therapies and rising cancer cases are factors augmenting the market growth.

Market key trends

The emergence of robotic process automation: To minimize manual errors and increase efficiency, cell cryopreservation vendors are integrating robotics into their workflow processes. Automated temperature control, liquid handling, cell retrieval from cryopreservation tanks, and storage management are some functions being adopted. This is expected to boost the development of next-gen fully-automated cell cryopreservation solutions in the coming years.

Growing stem cell therapies clinical trials: With rapid advancements in regenerative medicine, more clinical studies evaluating the therapeutic potential of various stem cell types are underway. This is propelling the outsourcing of stem cell processing and storage to specialized cell banks. As a result, the demand for commercial and laboratory-scale cell cryopreservation equipment from stem cell research institutes and cell therapy developers is on the rise.

Porter’s Analysis

Threat of new entrants: The threat of new entrants is moderate. The cell cryopreservation market requires huge investments in research and development which creates entry barriers for new players. However, partnerships and collaborations allow new players to enter the market.

Bargaining power of buyers: The bargaining power of buyers is high. There are many players offering similar cell cryopreservation services. Buyers can easily switch between service providers based on price and quality.

Bargaining power of suppliers: The bargaining power of suppliers is moderate. Suppliers of specialized equipment and reagents have some bargaining power over buyers due to differentiated products. However, established relationships and availability of substitutes limit suppliers’ power.

Threat of new substitutes: The threat of new substitutes is low. There are limited substitutes currently available for cell cryopreservation. Development of new substitutes requires substantial investment of capital.

Competitive rivalry: The competitive rivalry in the market is high. Players compete based on technological advancements, quality,pricing and service offerings.

Key Takeaways

The global Cell Cryopreservation Market Demand is expected to witness high growth over the forecast period. The global cell cryopreservation market is estimated to be valued at US$ 228.8 million  in 2023 and is expected to exhibit a CAGR of 5.7%  over the forecast period 2023 to 2030.

North America dominates the market currently due to technological advancements and the presence of major players in the region. Increasing stem cell research activities and the rising prevalence of chronic diseases are driving the demand for cell cryopreservation in the region. The cell cryopreservation market is also expected to grow significantly in Asia Pacific region. Countries like China, India and Japan are expected to offer lucrative opportunities for market players. Favorable government policies supporting stem cell research and rising healthcare expenditure are propelling the market growth in Asia Pacific.

Key players operating in the cell cryopreservation market are BASF, DSM, Kemin Industries, Naturex, Synthite Industries, Aarkay Food Products, Dohler, Sensient Technologies, and Vitablend. Players are focusing on new product launches, partnerships and acquisitions to strengthen their market position and cater to the rising demand.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it