The global cryopreservation media market was valued at USD 1,465.4 Mn in 2020 and is expected to reach USD 3,650.4 Mn by 2028, expanding at a CAGR of 12.3% during the forecast period. Cryopreservation is a process in which tissues, organs, or cells are cooled and stored at low temperatures for maintaining their viability. These biological specimens are cryopreserved at the temperature of liquid nitrogen (-196°C). Cryopreservation is largely used for protecting cells from physical stress, along with reducing the cell death development. The market in North America and Europe are projected to grow, due to increasing research activities.
Rising government initiatives in the research sector of the pharmaceutical and biopharmaceutical segment is anticipated to propel cryopreservation media market. Cell freezing benefit for saving the development of drugs is fueling the market. Governments of several countries are spending huge amount in the development of the biotechnological sector, which is expected to drive the cryopreservation media market. Many countries are taking different initiatives for generating awareness about stem cell preservation among people, leading to the growth of the market.
Development in cell therapy is projected to fuel the market. Genetically engineered cell lines are developed by using insect media for developing therapeutically valuable recombinant proteins. Major market players are increasing their expenditure in the research and development sector for the purpose of development of innovative methods and novel products, which is expected to propel the market in the coming years.
There are some regulations when dealing with freezing cells, particularly in the clinical space. The industry is struggling with tighter regulations. The regulations are strict while freezing cells which are for the purpose of human use. There are some solutions which are offered by commercial media. For the clinical saless, Drug Master File (DMF), is the highest regulatory documents which is used. Biological Master File (BMF) is the other regulatory document which is used in freezing cells.
Regulatory approval is the large issue faced by the several companies. The regulatory approval process cryopreservation is still evolving, as regulatory bodies such as EMS in Europe and FDA in the U.S. gain experience of these drugs and get more response about what work well. New guidelines and terminologies are targeting and supporting the process of advanced therapies and development of novel products. Research and development in the North America is growing at fast rate, with the clinical development and advancement in methods. CBER gives proactive scientific and regulatory advice to manufacturers and medical researchers in the development of novel products.
On the basis of types, the market is bifurcated into serum-free and with serum. The serum-free segment is anticipated to hold a significant share of the market during the forecast period, owing to the consistent performance, increased productivity, and enhanced detection of cellular mediators. The serum-free segment is anticipated to expand at a CAGR of 14.4% during the forecast period. The serum-free media removes the risk of contamination at the time of experiments, due to which it becomes preferred medium of cell culture. The with-serum segment is projected to increase at a rapid CAGR, owing to the property of serum to bind components with each other.
Based on end-user, the market is categorized into pharmaceutical & biotechnology companies, academic & research institutes, cell banks, and others. The academic & research institutes segment is projected to account for a significant share of the market during the forecast period, due to rising focus on research and development of new products. The academic & research institutes segment is anticipated to expand at a CAGR of 12.8% during the forecast period. The pharmaceutical & biotechnology companies segment is projected to account for a significant share of the market during the forecast period, due to rising government initiatives for research in pharmaceutical & biotechnology sector. The cell banks segment is anticipated to grow at substantial CAGR during the forecast period. This growth may be attributed to the increasing sales of cryopreservation media in the preservation of fine structures of cells.
On the basis of regions, the market is categorized as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA). North America is anticipated to hold the largest market share, as research activities in the region are increasing along with development in the healthcare infrastructure. Rapid growth of cell therapies and adoption of regenerative medicines in the region are expected to boost the regional market. The market in Europe is expected to account for rapid growth, owing to novel drug developments in the region. Increasing research activities in the region are projected to drive the regional market over the forecast period.
Some frequently asked quetions about this report!
Additional company profiles can be provided on request.
Yes, the report covers various cryopreservation media market by end-user as pharmaceutical & biotechnology companies, academic & research institutes, cell banks, others.
According to this Growth Market Reports, the market from cryopreservation media market is likely to register a CAGR of 12.3% during period 2020-2027, with an anticipated valuation of USD 3,650.4 million by the end of the 2028.
In addition to market size (in USD Million) and Company Market Share (in % for base year 2019), other data such Macro-economic factors, COVID-19 Impact on the cryopreservation media market is available in final report.
Factors such as competitive strength and market positioning are key areas considered while selecting top companies to be profiled.
The cryopreservation media market is anticipated to grow significantly during forecast period due increasing development in cell therapy around the world and rising government initiatives for research activities in the pharmaceutical and biopharmaceutical industry
The demand for cryopreservation media from pharmaceutical & biotechnology companies and cell banks is driving the market growth.
The market is expected to witness moderate growth with increase in terms of demand during 2019-2020 owing to the positive impact of COVID-19 pandemic on the cryopreservation media market.
The base year considered for the cryopreservation media market report is 2020. The complete analysis period is 2018 to 2028, wherein, 2018 & 2019 are the historic years, and the forecast is provided from 2021 to 2028.
Major Manufactures include Bio-Techne, BioLife Solutions, Corning Incorporated, Thermo Fisher Scientific Inc., STEMCELL Technologies Inc., among others.
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