Cryopreservation is a process of maintaining biological samples in a form of suspended state at cryogenic temperature for considerable period and is used to preserve the fine structure of cells. Through this process, samples of cells, tissues, and organelles are cooled at very low temperatures (less than -2130 degree F), for preservation. Cryopreservation is primarily used in the preservation of oocytes and embryos with in-vitro fertilization (IVF) cycle, prior to chemotherapy for women diagnosed with breast cancer, in order to preserve their reproductive capacity.

The global cell cryopreservation market size was valued at US$ 4,027.9 million in 2018, and is expected to exhibit a CAGR of 22.5% over the forecast period (2018–2026).

Request for Sample Report: https://www.coherentmarketinsights.com/insight/request-sample/1698

Increasing government initiatives for preservation of stem cells is expected to augment the market growth
Government organizations’ initiatives for preservation of stem cells is a factor boosting the market growth. For instance, NCBP is the first and largest cord bank in the world, which recorded a collection of over 60,000 cord blood units, till 2016. NCBP has provided cord blood units for transplantation to over 4,900 recipients, throughout the world. Moreover, in 2011, Canada’s Ministry of Health, initiated Canada’s first national, publicly funded umbilical cord blood bank, which aims to provide donations for the allogeneic hematopoietic stem cell transplant.

Increasing launch of novel cryopreservation systems and approval of cryopreserved cells by regulatory authorities is also expected to bolster the market growth. For instance, in 2015, AMS Biotechnology Limited launched its new Stem-Cellbanker, a GMP grade cell cryopreservation media. Stem-Cellbanker is a freezing solution that is used for preservation of stem cells, induced pluripotent stem (iPS) cells, and other cells.
However, the adoption and development of alternative methods is expected to hinder the market growth. For instance, in May 2019, researchers at the University of Japan developed a technique to cryopreserve animal cells without using cryoprotectant agent. The researchers plan to apply this technique to a wide range of cells, specially cells sensitive to cryopreservation procedure.

Increasing R&D expenditure by pharmaceutical and biotechnology companies in North America is expected to bolster the market growth
North America holds dominant position in the global cell cryopreservation market, owing to increasing expenditure on research and development activities by pharmaceutical and other companies. For instance, in 2013, Amgen Foundation launched an international program named Amgen Biotech Experience. The foundation also collaborated with non-profit organizations such as Education Development Center, Inc. (EDC) and provided grants amounting to US$ 30 Mn to local, regional, and international nonprofit organizations to provide technical assistance in biotechnology research.

Increasing focus of manufacturers on developing novel products for preserving various cells for research and use in medical settings is a major factor propelling the market growth. For instance, in 2018, Vanessa Research Inc., a startup company, launched a compact device aimed at batch cryopreservation, which allows freezing of multiple tissue samples, simultaneously.

Moreover, in January 2015, the precision medicine initiative proposed by the U.S. Government led to the creation of a new biobank that contains medical records and genetic information. The biobank is used for research of new disease-gene associations and for medical care. Therefore, increasing launch of biobanks is expected to lead to high demand for cell cryopreservation services, thereby aiding in the market growth in the region.

To Get Instant Access, Purchase Report Here @ https://www.coherentmarketinsights.com/insight/buy-now/1698

Key Players
Major players operating in the global cell cryopreservation market include, General Electric Company, Thermo Fisher Scientific Inc., Merck KGaA, AMS Biotechnology (Europe) Limited, Miltenyi Biotec GmbH, BioLifeSolutions Inc., HiMedia Laboratories Pvt. Ltd., PromoCell GmbH, Corning Incorporated, Cooper Companies, Inc., and Planer PLC.

About Coherent Market Insights

Coherent Market Insights is a prominent market research and consulting firm offering action-ready syndicated research reports, custom market analysis, consulting services, and competitive analysis through various recommendations related to emerging market trends, technologies, and potential absolute dollar opportunity.

Contact Us

Mr. Shah
Coherent Market Insights
1001 4th Ave, #3200
Seattle, WA 98154
Phone: US +12067016702 / UK +4402081334027
Email: [email protected]