June 25, 2024
Cell Cryopreservation Market

Cell Cryopreservation Market Presenting Strong Growth Trends Amid Increasing Stem Cell Therapies

The global cell cryopreservation market comprises products and solutions that are used for the cryopreservation of various cell types including stem cells, semen and embryos. Cells undergo slow freezing or vitrification during cryopreservation which allows them to maintain viability after being stored for prolonged durations at very low temperatures, usually in liquid nitrogen. Cell cryopreservation finds applications across diverse domains like biobanking, drug discovery, regenerative medicine, and fertility treatments. There is growing demand for stem cell therapies in conditions such as cancers, neurological disorders, cardiovascular diseases etc. which require viable cryopreserved cells. It ensures cell survival and function after transplantation.

The Global Cell Cryopreservation Market is estimated to be valued at US$ 263.58 Bn in 2024 and is expected to exhibit a CAGR of 5.7% over the forecast period of 2024 to 2030.

Key Takeaways

Key players operating in the cell cryopreservation market are BASF, DSM, Kemin Industries, Naturex, Synthite Industries, Aarkay Food Products, Dohler, Sensient Technologies, Vitablend. Key players are focusing on developing advanced products with improved efficiencies. For instance, BASF has developed green-colored carotenoids to cater to vegetarian and vegan food markets.

The demand for cell cryopreservation is growing significantly driven by increasing stem cell therapies and tissue engineering applications. Growing initiatives to promote public cord blood banks is also boosting the market growth. Additionally, rising incidence of cancer and other chronic diseases worldwide is fueling the adoption of cryopreserved cell therapies.

The cell cryopreservation market is witnessing high growth in regions like North America, Europe, Asia Pacific due to availability of advanced treatment options, rising healthcare expenditure, and increasing public-private investments to develop regenerative medicine solutions. Various market players are also expanding their presence in emerging nations to tap the growth opportunities.

Market Key Trends

One of the key trends gaining traction in the cell cryopreservation market Demand is the adoption of robotic automation. Advanced robotic equipment is being integrated into cryopreservation processes to improve efficiency, reduce manual errors and minimize cross-contamination risks. For instance, global players are developing automated solutions for cell harvesting, cryopreservation, storage and retrieval operations. This enhances productivity and quality of preserved cells. Stem cell regenerative therapies are also a major trend, driving government and commercial investments in large-scale cell banking and repository networks worldwide. With continual technological innovations, the demand for cryopreserved cell therapies is expected to increase markedly over the coming years.

Porter’s Analysis

Threat of new entrants: Low barrier for entry as technology is advancing. However, established players have strong brand presence.

Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutes. However, buyers prefer reputed brands for importance of end use.

Bargaining power of suppliers: Suppliers have moderate bargaining power due to availability of substitute raw materials. Regulations regarding quality and consistency need to be met.

Threat of new substitutes: Threat of new substitutes is low as cryopreservation is an effective technique with no close substitute.

Competitive rivalry: Intense competition between major players to gain higher market share through product innovation.

Geographical regions

North America dominates the market and holds around 35% share in terms of value. High healthcare expenditure and rising demand for preservation of stem cells majorly drive the market growth.

Asia Pacific is expected to witness fastest growth during the forecast period attributable to increasing healthcare spending ,growing stem cell research activities and rising awareness regarding stem cell therapeutics in the region.

1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it