Cryopreservation Equipment Market

SKU: DMMD1160 | Last Updated On: Sep 22 2022 | Available Formats

> Cryopreservation Equipment Market Expected to reach a high CAGR of 12% By 2029

Cryopreservation Equipment Market is segmented By Application Type (Oocytes And Embryos, Sperm And Semen, Stem cells, Hepatocytes, Others), By End-User ( Fertility Centers, Hospitals, Others ), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029

[150 Pages Report] The Cryopreservation Equipment Market is expected to grow at a CAGR of 12% during the forecasting period (2022-2029).

Cryopreservation Equipment Market - Strategic Insights

Metrics

Details

Market CAGR

12%

Segments Covered

By Application Type, By End-User, and By Region

Report Insights Covered

Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights.

Fastest Growing Region

Asia Pacific

Largest Market Share 

North America

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Cryopreservation is the process of freezing biological material at extreme temperatures. At these low temperatures, all biological activity stops including the biochemical reactions that lead to cell death and DNA degradation. This preservation method in theory makes it possible to store living cells as well as other biological material unchanged for centuries. The equipment which is designed to preserve the biological material is referred to as cryopreservation equipment. It commonly involves the preservation of sperms, plant seeds, embryos, and eggs other biological materials used for research purposes in future. Cryopreservation process involves cryopreservation solutions which comprise a high concentration of cryoprotectant agents. Cryoprotectants are used as they provide improved osmotic balance and dehydration during cooling.

Market Dynamics 

The global cryopreservation equipment is primarily driven by increasing demand for In Vitro Fertilization (IVF) process in recent years and is expected to remain same over the forecast period. According to U.S. Society of Assisted Reproductive Technology (SART) in 2017, in United States, 1 million babies were born in the United States between 1987 and 2015 through the use of IVF procedures.

Increasing clinical and research studies in stem cell applications using cryopreservation equipment are boosting the global cryopreservation equipment over the forecast period. The advent of modern cryopreservation technology introduced the concept of harvesting and banking stem cells for future use. For instance, in 2018, the University of California reported that the first in utero stem cell transplant trial has led to the live birth of an infant that had been diagnosed in utero with alpha thalassemia, a blood disorder that is usually fatal for fetuses.

Technological advancements, increasing research in medical and pharmaceutical studies are fueling cryopreservation equipment over the forecast period.

However high cost of product development is restraining global cryopreservation equipment over the forecast period.

Market Segmentation 

Based on application type cryopreservation is segmented into Oocytes and embryos, sperm and semen, stem cells, hepatocytes, and others. Embryos segment held the highest share in 2018 and is anticipated to remain dominant over the forecast period due to the increasing number of IVF processes. According to European Society of Human Reproduction and Embryology, in 2018, more than 8 million babies were born from IVF procedures since the world's first in 1978 and estimated that more than a half-million babies are now born each year from IVF procedures.

Stem cells accounted for the second-highest share due to increasing research development in stem cell studies. For instance, in 2018, STEMCELL Technologies, Canada’s largest biotechnology company announced a $45 million joint funding agreement between the Governments of Canada and British Columbia to help the company build a state-of-the-art advanced manufacturing facility. The funding agreement will accelerate the Vancouver company’s rapidly scaling business of providing cutting-edge reagents and tools to support life science researchers around the world working in the cell therapy and regenerative medicine fields.

Based on end-users global cryopreservation market is segmented into fertility centers, hospitals, research organizations. Fertility centers dominated the market in recent years and are expected to remain same over the forecast period.

Geographical Analysis 

The global cryopreservation equipment market is segmented into North America, Europe, Asia Pacific, South America and Middle East and Africa. 

North America held the highest market share in 2018 and is anticipated to remain same over the forecast period due to increasing number of IVF procedures, technological advancements due to increasing research and development studies. According to Centers for Disease Control and Prevention in 2018, about 1 to 2 percent of all U.S. births annually are through IVF procedures which shows the significant usage of cryopreservation equipment.

Europe had the second largest market share in 2018 and remains to be dominant over the forecast period due to increasing number of embryo transfers. According to The International Embryo Transfer Society in 2017, in Europe, 128,277 animal embryos are transferred which is 20.37% of global embryo transformations.

Asia Pacific is registering fastest CAGR due to the increased number of suppliers and distributors in countries such as India, China, and Japan over the forecast period.

Competitive Analysis 

The major players in global cryopreservation market are Thermo Fisher Scientific, Inc., Praxair Technology, Inc., Advanced Cell Technology, Inc., Angioblast Systems, Inc., Cell Therapeutics, Inc., Aastrom Biosciences, Inc, Millipore Corporation, Cryologic Pty. Ltd., Custom Biogenic Systems and Haimen United Laboratory Equipment Development Co., Ltd.

Companies are investing more in research and development activities to launch innovative devices to grab the market share.

On January 14, 2019, Royal Free Hospital in London launched a new ovarian tissue freezing program, designed to help women and girls about to be treated for cancer to preserve their fertility.

On January 16, 2019, cryopreservation company Acorn Biolabs closes $3.3M seed funding and ramps towards consumer launch.

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FAQ

What is the Cryopreservation Equipment Market growth?

The market is growing at a CAGR of 12%

What is Cryopreservation Equipment Market size in 2021

The Cryopreservation Equipment Market size was valued at USD YY million in 2021

Who are the key players in Cryopreservation Equipment Market?

Millipore Corporation, Cryologic Pty. Ltd., Custom Biogenic Systems and Haimen United Laboratory Equipment Development Co., Ltd.

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