The Global Cell Freezing Media For Cell Therapy Market is expected to grow at a CAGR of 13% during the forecasting period (2022-2029).
The cell freezing medium should contain a cryoprotective agent, such as dimethylsulfoxide (DMSO) or glycerol. It is a complete cell freezing media, especially for mammalian cell cultures. However, since it is known that DMSO is a carcinogen and mutagen, DMSO-free formulations are becoming popular for the applications of stem cells. This is an especially critical issue for cells being used in translational research or clinical applications.
Growing government initiatives for research in the pharmaceutical and biopharmaceutical segment are expected to drive the market's growth across the globe. Moreover, the advantages of cell freezing for storage in drug development or other programs are likely to stimulate the market's growth. However, high maintenance cost in storage procedure is the major factor that can hamper the market's growth during the forecast period.
R&D in personalized medicine leads the market’s growth
Investment in the R&D of cell culture for the development of personalized medicines has increased significantly in past years. Numerous companies are investing in cell culture technology; thereby, creating an opportunity for the market's growth shortly. This increased use of harvesting in cell culture to treat numerous diseases is expected to promote the market's growth shortly. All such advances in technology and increasing expenditure in R&D are expected to propel the market's growth over the coming years.
Recognition of cell culture in various healthcare diseases
The increasing recognition of cell culture in cancer treatment, drug discovery, and vaccine production has boosted cell-based research funding. However, the funds required for cell-based research are very high, due to which funding for these researches has been encouraged in very few developed nations such as the US and UK. As the funding for cell-based research increases, the opportunities for augmentation of the cell harvesting market are expected to increase significantly shortly.
COVID-19 Impact Analysis
The COVID-19 pandemic outbreak is expected to derail the cell freezing media's growth for the cell therapy market in 2020. The decline in the research activities in the cell culture technology and shift towards the development of COVID-19 vaccines is the major factor that has negatively impacted the cell freezing media for cell therapy market growth in 2020.
By application, the cell freezing media for the cell therapy market is classified into human embryonic stem cells, CAR-T cell therapy, neural stem cell therapy, mesenchymal stem cell therapy, hematopoietic stem cell transplantation, and others.
Human Embryonic Stem Cells segment to dominate global cell freezing media for cell therapy market
Embryonic stem cells are termed as the pluripotent cell lines obtained from the blastocyst-stage early mammalian embryo. These unique cells are described by their capacity for the lengthy homogenous rise in culture while maintaining the potential to differentiate into byproducts. During in vitro differentiation, embryonic stem cells can grow into specialized somatic cells, including cardiomyocytes, and have been shown to run through many processes of early embryonic development.
The cell freezing media for the cell therapy market is classified into FBS and without FBS by media type.
FBS leads the growth of the market
The medium used to cryopreserve cells should always be the same formulation as that used to propagate the cells with the addition of fetal bovine serum (FBS) (in the case of serum-free cultures) or the increase in the concentration of FBS but to a final concentration of no more than 20%. The FBS will bind toxic materials that may be released if some cells are lysed during the freezing or thawing process.
North America dominated the global market throughout the forecast period.
The North American market dominated the largest market share in the global cell freezing media for the cell therapy market in 2019. The U.S. contributed the major share of over 87.0% in the North America cell freezing media for cell therapy market in 2019. North America has a well-developed healthcare infrastructure. The companies are investing in developing advanced solutions for the cell freezing media for the cell therapy market. A sedentary lifestyle and unhealthy dietary habits are prime factors for increasing chronic diseases such as diabetes and cardiovascular diseases. The research institutes are developing effective treatment solutions for these diseases. This growth in the R&D activities offers growth to the cell freezing media for the region's cell therapy market.
Moreover, the Asia Pacific region is expected to grow at the highest CAGR globally due to the increasing prevalence of chronic diseases such as cancer in the region, especially in China and India. The growing spending on establishing advanced healthcare facilities in emerging economies, such as China, and collaboration among the market players to develop innovative products contribute significantly to the market growth.
The cell freezing media for the cell therapy market is dominated by a few companies. Some of the key players in the market's growth include BioLifeSolutions, Inc., HiMedia Laboratories, Miltenyi Biotec, Mediatech, Inc., General Electric Company, PromoCell GmbH, Merck KGaA, and Nippon Genetics, among others. The key players execute several growth strategies such as product launches, acquisitions, and collaborations, which are estimated to boost the cell freezing media for cell therapy market growth globally.
Overview: GE Healthcare operates as a subsidiary of General Electric Co. in Chicago, the US, since its inception in 1994. As of 2019, the company had more than 56,000 employees across over 180 countries. The company registered revenue of approximately $20 billion in 2019. The company’s portfolio contains a range of products, solutions, and services to diagnose, treat, and monitor patients. In addition to this, the company is also focused on the development and manufacturing of biopharmaceuticals.
Product Type Portfolio: The company’s portfolio comprised the cryopreservation of cellular materials.
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