openPR Logo
Press release

Cryopreservation Equipment Market is expected to reach US$ 11,255.02 Mn With CAGR of 9.9% from 2021 to 2028 | Biobank Graz, Shanghai Zhangjiang Biobank, “All of Us” Biobank, International Agency for Research on Cancer (IARC) Biobank (IBB), China Kadoo

07-14-2021 03:00 PM CET | Health & Medicine

Press release from: The Insight Partners

/ PR Agency: The Insight Partners
Cryopreservation Equipment Market

Cryopreservation Equipment Market

According to our latest market research study on “Cryopreservation Equipment Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type and Application,” the market is expected to reach US$ 11,255.02 million by 2028 from US$ 5,798.82 million in 2021; it is estimated to grow at a CAGR of 9.9% from 2021 to 2028. The report highlights the market trends, drivers, and deterrents. Growing acceptance for regenerative medicine and increasing needs of biobanking practices are among the key forces driving the market growth. However, stringent regulatory requirements hinder the market growth.

Request for sample PDF Copy @ https://www.theinsightpartners.com/sample/TIPRE00023243/?openpr-10225

Based on type, the cryopreservation equipment market is segmented into freezers, sample preparation systems, and accessories. In 2020, the freezers segment held the largest share of the market, and it is expected to register the highest CAGR in the market during 2021–2028. In ultracold freezers, liquid nitrogen is used for the successful preservation of more complex biological structures by virtually seizing all biological activities.

The COVID-19 pandemic has had a mixed impact on the cryopreservation equipment market. Restricted access to family planning services as well as diverted focus of people due to economic uncertainties and recession, and disturbed work-life balance have led to rise in egg and embryo freezing activities at fertility clinics during the pandemic. As a result, the rising use of cryopreservation equipment is boosting the market growth. Furthermore, supply chain disruption caused due to congestion of ports and disturbances in other transport means has substantially affected the distribution of cryopreservation equipment and other accessories.

A few prominent players operating in the cryopreservation equipment market are Thermo Fisher Scientific Inc., Gold Sim Cellular Science LLC, Brooks Automation, Inc, Avantor, Inc., Hamilton Company, PHC Holdings Corporation, General Electric Company, Cryoport Systems, LLC., Antech Group Inc., Cryofab, BioLife Solutions, and ZhongkeMeiling Cryogenics Company Limited.

Companies are launching new and innovative products and services to sustain their position in the cryopreservation equipment market. In May 2021, Stirling Ultracold has been acquired by BioLife Solutions, Inc for cell and gene therapies and the broader biopharma market. In return for all of Stirling's outstanding shares, BioLife issued 6,646,870 shares of ordinary stock.

Market Insights

Growing Acceptance for Regenerative Medicine Drives Cryopreservation Equipment Market Growth

Cryopreservation plays an important part in the field of regenerative medicine as it facilitates stable and secure storage of cells and other related components for a prolonged time. Regenerative medicine enables replacing diseased or damaged cells, tissues, and organs by retrieving their normal function through stem cell therapy. Owing to the advancements in the medical technology, stem cell therapy is now being considered as an alternative to traditional drug therapies in the treatment of a wide range of chronic diseases, including diabetes and neurodegenerative diseases. Moreover, the US Food and Drug Administration (FDA) has approved blood-forming stem cells. The blood-forming stem cells are also known as hematopoietic progenitor cells that are derived from umbilical cord blood. The growing approvals for stem cell and gene therapies are eventually leading to the high demand for cryopreservation equipment. Following are a few instances of stem cell and gene therapies approved by the FDA and other regulatory bodies.

In February 2021, Bristol Myers Squibb (Juno Therapeutics, Inc.) received an FDA approval for Breyanzi, a CD19-directed chimeric antigen receptor T-cell (CAR-T) therapy. The CAR-T cell therapy is used for treating relapsed or refractory large B-cell lymphoma in adults.
In March 2021, Novartis AG received approval from the Health Sciences Authority of Singapore for the commercialization of the first CAR-T therapy named Kymriah, which is claimed as a one-time treatment procedure run individually for each patient. The therapy was approved under the new cell, tissue, and gene therapy products (CTGTP) regulatory framework.

In July 2020, Kite, a Gilead Company, received an approval from the US FDA for its Tecartus (formerly known as KTE-X19) CAR-T cell therapy. The therapy is designed for the treatment of adult patients with relapsed or refractory mantle cell lymphoma (MCL).

In May 2019, Vericel Corporation received an approval for its MACI (autologous cultured chondrocytes on porcine collagen membrane).
In December 2017, Spark Therapeutics received an approval from the US FDA for Luxturna. It is a one-time gene therapy product for the treatment of patients with confirmed biallelic RPE65 mutation-associated retinal dystrophy.

Increasing Need of Biobanking Practices Contributes Significantly to Market Growth

Biobanks are developed extensively for the preservation of biological materials, including human biologics, plants, animals, and microbes, for medical research, drug development, agriculture, and ecology. The demand for cryopreservation equipment has increased among biotechnology and pharmaceutical manufacturers, contract research organizations, stem cell banks, and stem cell research laboratories in the past few years. These end users contribute to the development of biomarker detection, molecular diagnosis, translational medicine, and multidisciplinary disease research. In addition, biomaterials used to study the interactions between genetic and environmental or lifestyle factors can also be stored biobanks. They require cryopreservation equipment to store umbilical cord blood as a source of hematopoietic stem and progenitor cells; cancerous tissue samples; semen for artificial insemination; oocytes and embryos for in-vitro fertilization (IVF); and plant seeds/shoots for breeding. Furthermore, the COVID-19 pandemic has triggered the research and developments activities for effective diagnostics and therapeutic approaches, which is adding to the requirement of biobanks.

Biobank Graz, Shanghai Zhangjiang Biobank, “All of Us” Biobank, International Agency for Research on Cancer (IARC) Biobank (IBB), China Kadoorie Biobank, UK Biobank, FINNGEN biobanks, Canadian Partnership for Tomorrow Project Biobank, EuroBioBank network, and Qatar Biobank are among the leading biobanks across the world. They are part of national government-funded studies regarding population health. Apart from the listed biobanks, various other biobanks owned by private and public entities across all regions require cryopreservation equipment and accessories in large volumes.

The report segments the global cryopreservation equipment market as follows:

By Type

Freezers
Sample Preparation Systems
Accessories
Freezer Boxes
Freezer Racks
Cryopreservation Vials
Others

By Cryogen Type

Liquid Nitrogen
Oxygen
Liquid Helium
Argon
Others

By Application

Cord Blood Stem Cells
Sperms Semen and Testicular Tissues
Embryos and Oocytes
Cell and Gene Therapies
Others

By End User
Stem Cell Banks
Biotechnology and Pharmaceutical Organizations
Stem Cell Research Laboratories
Others

By Geography

North America
US
Canada
Mexico
Europe
UK
Germany
France
Italy
Russia
Rest of Europe
Asia Pacific
Japan
China
India
Australia
South Korea
Southeast Asia
Rest of Asia Pacific
Middle East and Africa
South Africa
UAE
Saudi Arabia
Egypt
Nigeria
Rest of Middle East and Africa
South and Central America
Brazil
Argentina
Colombia
Rest of South and Central America

Purchase Copy of This Report at https://www.theinsightpartners.com/buy/TIPRE00023243/?openpr-10225

Contact Us
Contact Person: Sameer Joshi
Phone: +1-646-491-9876
Email Id: sales@theinsightpartners.com

About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are a specialist in Technology, Healthcare, Manufacturing, Automotive and Defense.

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Cryopreservation Equipment Market is expected to reach US$ 11,255.02 Mn With CAGR of 9.9% from 2021 to 2028 | Biobank Graz, Shanghai Zhangjiang Biobank, “All of Us” Biobank, International Agency for Research on Cancer (IARC) Biobank (IBB), China Kadoo here

News-ID: 2328463 • Views: 608

More Releases from The Insight Partners

Mobile Router Market Expert Research Guide: Emerging Trends, Opportunities, Top …
An exclusive Mobile Router Market research report has been fabricated through the in depth analysis of the market dynamics across five regions including North America, Europe, South America, Asia-Pacific, Middle East and Africa. The segmentation of the market by components, end users, and region was done based on the thorough market analysis and validation through extensive primary inputs from industry experts (key opinion leaders of companies, and stakeholders) and secondary
Physical Access Control System (PACS) Market 2022 | Don't Miss Out Expandable Bu …
An exclusive Physical Access Control System (PACS) Market research report has been fabricated through the in depth analysis of the market dynamics across five regions including North America, Europe, South America, Asia-Pacific, Middle East and Africa. The segmentation of the market by components, end users, and region was done based on the thorough market analysis and validation through extensive primary inputs from industry experts (key opinion leaders of companies, and
Solar Simulator Market to Witness Robust Expansion, Market Insights, Latest Anal …
Global Solar Simulator Market Analysis to 2028 is a specialized and in-depth study of the Solar Simulator market with a special focus on the global market trend analysis. The increase in the adoption of green energy and the emergence of smart cities are some of the major factors driving the growth of the solar simulator market. However, the high cost of these systems is the major factor that may restrain
High Pass Filters Market Expected to Reach Tremendous Growth, Industry Insights, …
The "Global High Pass Filters Market Analysis to 2028" is a specialized and in-depth study of the High Pass Filters market with a special focus on the global market trend analysis. A high-pass filter (HPF) is an electronic filter that passes Signals with a frequency higher than a certain cut off Frequency and attenuates signals with frequencies lower than the cut-off frequency. Whether we're speaking approximately a low-bypass filter or

All 5 Releases


More Releases for Biobank

Biobanking Market Growth Strategies and Insights, Business Perspectives 2022-202 …
The global biobanking market is poised to grow by USD 18 billion during 2022-2028, progressing at a CAGR of 4.5% during the forecast period. Biobanking Market 2022 research provides accurate economic, global, and country-level predictions and analyses. It provides a comprehensive perspective of the competitive market as well as an in-depth supply chain analysis to assist businesses in identifying major changes in industry practices. The market report also examines the current state
Biobank Sample Management Software Market Size, Share, Development by 2025
LP INFORMATION recently released a research report on the Biobank Sample Management Software market analysis, which studies the Biobank Sample Management Software's industry coverage, current market competitive status, and market outlook and forecast by 2025. Global “Biobank Sample Management Software Market 2020-2025” Research Report categorizes the global Biobank Sample Management Software market by key players, product type, applications and regions,etc. The report also covers the latest
Biobank Market || Opportunity and Industry Revenue Analysis
Prophecy Market Insights has recently published the Biobank informational report which will help retailers, manufacturers, and distributors to understand and realize the market drivers, restraints, and opportunities to generate revenue, and trends that are instrumental in shaping the target market and its revenue. This Biobank market report states the overview, historical data along with size, share, growth, demand, and revenue of the global industry. The report analyses the attractive opportunities
Biobank Market Revenue of Top Companies Future Forecast until 2029
The research study on Global Biobank market 2019 presents an extensive analysis of current Biobank market size, drivers, trends, opportunities, challenges, as well as key Biobank market segments. Further, it explains various definitions and classification of the Biobank industry, applications, and chain structure. In continuation of this data, the Biobank report covers various marketing strategies followed by key players and distributors. Also explains Biobank marketing channels, potential buyers and development history.
Veterinary Biologicals Biobank Market Analysis and Opportunity 2017-2027 | IZSLE …
"The Latest Research Report Veterinary Biologicals Biobank Market: Global Industry Analysis and Opportunity Assessment 2017-2027 provides information on pricing, market analysis, shares, forecast, and company profiles for key industry participants. – MarketResearchReports.biz” Veterinary biological Biobank collects biological samples, associated data, and store them for future purposes. They are invaluable resources of all types of research, mainly aimed at improving animal healthcare, diagnosis, and treatment. Veterinary Biologicals especially includes serums, toxins or
Veterinary Biologicals Biobank Market Analysis and Opportunity 2017-2027 | IZSLE …
"The Latest Research Report Veterinary Biologicals Biobank Market: Global Industry Analysis and Opportunity Assessment 2017-2027 provides information on pricing, market analysis, shares, forecast, and company profiles for key industry participants. - MarketResearchReports.biz" Veterinary biological Biobank collects biological samples, associated data, and store them for future purposes. They are invaluable resources of all types of research, mainly aimed at improving animal healthcare, diagnosis, and treatment. Veterinary Biologicals especially includes serums, toxins or