The Global Cell Cryopreservation Market Growth Accelerated By Increased Demand For Cell-Based Therapies
Cell Cryopreservation
protects cells from damage by cooling and storing them at very low temperatures
such as in liquid nitrogen. It helps in preserving various types of cells
including stem cells, blood, and sperm cells among others for future use in
different applications like regenerative medicine, drug testing and
personalized medicines. With increasing investments in regenerative medicine
and cell-based therapies, demand for techniques like cell cryopreservation has
surged significantly.
The Global
Cell Cryopreservation Market Size 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:
One of the key trends driving growth in the cell cryopreservation market is the
increased investments in cell-based research activities. Growing prevalence of
chronic diseases has accelerated research in cell therapies for treatment of
conditions like cancer, cardiac disorders, and neurological diseases among
others. Several biotech and pharmaceutical companies are collaborating with
research institutes to conduct clinical trials of cell-based therapies. For
example, Gilead Sciences collaborated with Juno Therapeutics to evaluate
potential of CAR-T cell therapy in diffuse large B-cell lymphoma. Moreover,
increasing funding from private and public organizations is encouraging
establishment of new stem cell banks across the globe. This is fueling demand
for specialized equipment and technologies required for cell cryopreservation.
Segment Analysis
The global cell cryopreservation market is dominated by the stem cells sub
segment. Stem cells have wide applications across various therapeutic areas
like cancer treatment and regenerative medicines. Their ability to
differentiate into other cell types makes them attractive for research as well
as clinical applications. This drives significant demand for stem cell
cryopreservation and storage solutions. Most biobanks now focus on collecting
and storing various types of stem cells.
Key Takeaways
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.
Regional analysis: The North
American region currently dominates the global cell cryopreservation market.
Increased stem cell research activity as well as rising adoption of
regenerative medicines in the US and Canada are driving the market. Asia
Pacific is expected to exhibit the fastest growth over the forecast period
supported by rising healthcare investments, growing biobanking industry and
expansion of clinical trials in countries like China and India.
Key players: Key players operating
in the cell cryopreservation market are BASF, DSM, Kemin Industries, Naturex,
Synthite Industries, Aarkay Food Products, Dohler, Sensient Technologies,
Vitablend. BASF is one of the largest players and offers comprehensive cell
culture media and cryopreservation solutions. DSM provides several stem cell
cryopreservation kits and reagents along with cryogenic storage tanks.
Get
More Insights Here: https://www.newswirestats.com/cell-cryopreservation-market-trends-growth-and-regional-outlook-2023-2030/
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