June 15, 2024
Cell Cryopreservation Market

The Global Cell Cryopreservation Market Is Estimated To Propelled By Growing Adoption Of Regenerative Medicines And Stem Cell Research

Cell cryopreservation involves preserving cells and tissues at temperatures below -150°C using cryoprotectants and cryogenic equipment like cryogenic vials, freezers and refrigerators. Cell cryopreservation plays a crucial role in regenerative medicine, stem cell banking and research. The cells preserved using cell cryopreservation techniques acts as a repository and can be transplanted to patients whenever required to treat various chronic diseases.

The global Cell Cryopreservation Market is estimated to be valued at US$ 228.8 Mn 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.

Market key trends

The growing adoption of regenerative medicine and stem cell therapies have propelled the adoption of cell cryopreservation techniques. Stem cells obtained from various sources like bone marrow, umbilical cord blood, adipose tissue etc. need to be preserved at ultralow temperatures. These stem cells act as a renewable source of replacement cells and tissues that can be transplanted to treat chronic diseases like spinal cord injury, diabetes, cardiovascular diseases etc. The rising incidence of chronic diseases along with increasing funding in stem cell research is expected to drive the demand for cell cryopreservation over the forecast period. The growth of cord blood and tissue banks for storage of cord blood stem cells and other tissues which can be used later for transplantation is also augmenting the cell cryopreservation market growth.

SWOT Analysis

Strength: Cell cryopreservation allows preserving viable cells for various future applications such as stem cell therapy, regenerative medicine etc. It helps in easy and long term storage of cells.

Weakness: The complex process of cryopreservation can damage some cells due to ice crystal formation and chemical toxicity of cryoprotectants used. High cost involved in equipment and reagents required for cryopreservation.

Opportunity: Rising prevalence of cancers and chronic diseases is increasing the demand for regenerative medicines and tissue engineering techniques using viable stored cells. Growing biobanks globally offer lucrative opportunities.

Threats: Stringent regulatory norms concerning cell processing, handling and storage. Ethical issues related to the sources of stem cells also act as threats.

Key Takeaways

The global Cell Cryopreservation Market Demand is expected to witness high growth. The market stood at US$ 228.8 Mn in 2024 and is projected to reach US$ 298.2 Mn by 2030, at a CAGR of 5.7%  during the forecast period of 2023 to 2030.

Regional analysis
North America is expected to continue dominating the global cell cryopreservation market during the forecast period. This is attributed to presence of major key players, increasing biobanks, higher adoption rate of advanced therapies and large stem cell research funding in the region. The Asia Pacific region is anticipated to grow at the highest CAGR during the forecast period due to rising medical tourism, increasing aging population and growing awareness regarding cell therapies.

Key players operating in the cell cryopreservation market are BASF, DSM, Kemin Industries, Naturex, Synthite Industries, Aarkay Food Products, Dohler, Sensient Technologies, and Vitablend. These players are involved in new product launches, mergers, acquisitions and partnerships to strengthen their global presence. For instance, in 2023, Miltenyi Biotec collaborated with StemExpress to expand access to clinical-grade cryopreserved immune cells for research applications.

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