According to a recent market study published by Growth Market Reports titled, "Global Cryopreservation Media Market by Type, End-user, and by Regions: Size, Share, Trends and Opportunity Analysis, 2017-2027", the market was valued at USD 1,465.4 Million in 2020 and is expected to grow at a healthy growth rate of 12.3% by the year 2028. The global cryopreservation media market is anticipated to grow significantly during forecast period. Advantages of cell freezing for storage in drug development, rising adoption of fertility preservation, and rising government initiatives for research activities in the pharmaceutical and biopharmaceutical industry are some of the factors contributing to market growth.

Global cryopreservation media market has been segmented based on type, end-user, and region. In terms of type, the global cryopreservation media market is categorized as serum-free and with serum. Based on end-user, the global cryopreservation media market is categorized as pharmaceutical & biotechnology companies, academic & research institutes, cell banks, and others. By regions global Cryopreservation Media market is segmented as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA).

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Regenerative medicine is the process of development of functional and living tissues for the purpose of replacing and repairing defective tissues. There are several sales of cryopreservation media such as blood transfusion, bone marrow transplantation, artificial insemination, in vitro fertilization (IVF), and others. All these sales in the process of regenerative medicine and cell therapy are projected to fuel the market. Growing geriatric population and extensive developments in transplant medicines are projected to boost the demand for regenerative medicines. Increasing demand for regenerative medicines is propelling the market during the forecast period.

There are several benefits of cell freezing such as increasing reproducibility of experiments and protection of important stocks of cells which are difficult for replacement. Appropriate cryopreservation of cells is one of the best methods for saving money and improving the stocks of cells. Increasing expenditure in healthcare, rising collaborations & partnerships among major market players for drug development, growing quality of R&D of drugs, and launch of new drugs in the market are some factors responsible for the development of cell cryopreservation

As per Growth Market Reports industry analyst Divyanka Sankhe “The spread of COVID-19 has had a huge impact on the cryopreservation media market players on many fronts and outside factors. COVID-19 affected all sections of the society including businesses and individuals. Different measures were taken into consideration from travel restrictions to national-wide lockdown to slow the spread of coronavirus. These restrictions affected numerous industry verticals such as BFSI, healthcare, real estate, and others. COVID-19 accelerated the adoption of cryopreservation media owing to rising need for effective healthcare treatments.

Key Takeaways from the Study:

  • The market in Asia Pacific is projected to expand at a significant CAGR in the coming years, owing to the increasing focus on pharmaceutical and bioprocessing development and research in countries such as India, China, and Japan.
  • The market in North America is expected to grow at a rapid pace, due to rapidly increasing cell therapies and increasing adoption of regenerative medicines.
  • The market in Europe is expected to grow during the forecast period, due to rising research activities by the market players.

Report Scope:

Report Metric

Details

Market Value in 2020

USD 1,465.4 Million

Market Growth Rate (from 2021 to 2028)

12.3%

Historical Data

2018 & 2019

Base Year

2020

Forecast Period

2021– 2028

Market Segments

Type, End-user, and Regions.

Region Scope

North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA)

Key Companies Profiled

BioLife Solutions, Bio-Techne, Corning Incorporated, Cytiva, Lonza, Merck KGaA, NIPPON Genetics Europe,, STEMCELL Technologies Inc., Thermo Fisher Scientific Inc., ZENOGEN PHARMA CO., LTD., and Sartorius AG

Customization Scope

Report customization available on request

Pricing and Purchase Options

Avail tailor-made purchase options to meet your research requirements.

Target Audience:

  • Demand Side: pharmaceutical & biotechnology companies, academic & research institutes, cell banks, and others..
  • Regulatory Side: Concerned government authorities, commercial research & development (R&D) institutions, and other regulatory bodies.
  • Associations and Industry Bodies: Center for Biologics Evaluation and Research (CBER), U,S. Food & Drug Administration (FDA), European Monetary System (EMS), among others.