Cryopreservation Media Market Share & Growth | Forecast 2031

Report Description

Market Outlook:

The Global Cryopreservation Media Market was estimated at USD 1,531.7 Million in 2022 and is anticipated to reach USD ~4,350.5 Million by 2031, expanding at a CAGR of 12.5% during the forecast period.

Cryopreservation or cell freezing refers to using low temperatures to specifically preserve structurally intact living cells. The science that deals with cryopreservation is called cryobiology. Proper cryopreservation of cells is the suitable way to save expenses, improve reproducibility of experiments, and protect important stocks of cells that are difficult to replace.

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A special protective cryopreservation medium is required to achieve cells freezing, as unprotected freezing is lethal for cells. Cryopreservant increase the overall concentration of all solutes and reduce the amount of ice formed, thus, offering protection in the cell freezing process.

Macro-economic Factors

Rising GDPs of Emerging Economies

GDP growth rate of a country, the overall economic growth, and stability of countries significantly impact the cryopreservation media market across the globe. High GDP growth rates lead to increased R&D spending, including investments in oncology research, cryobiology research and others. Emerging economies such as Russia, India, and China, the UAE, and other countries in the Southeast Asia and Latin America are key destinations for the healthcare industry. The economic growth of emerging countries is growing by about 6% annually, whereas countries with an already well-established economy report growth rate below 3%.

In 2021, the total contribution of the healthcare industry to the global GDP was 10%. Israel is the second-largest economy in the Middle East & North Africa (MENA) with a GDP of USD 488 billion in 2022. Saudi Arabia is with USD 1,108.1 billion GDP in 2022. Countries with high GDP growth rate tends to have high healthcare expenditure, which increases the demand for cryopreservation media in the region. Thus, rising GDPs of emerging countries play a crucial role in fueling the market.

Market Dynamics

Market Driver- Increasing Demand in Biomedical Research

Cryopreservation is widely applied in various biomedical research applications, such as transplantation, tissue regeneration, anti‐infection therapy, and anti‐tumor therapy. Biological organism‐based therapy is a promising direction of biomedicine. Living organisms or inactivated organisms are easily obtained by the freezing method. Cryopreservation achieves long‐term storage of cells that are utilized for transplantation (including pancreatic islet, hepatocyte, and bone marrow), blood transfusion, artificial insemination, and in vitro fertilization. Key factors in the success of cryopreservation are cryoprotective agents (CPAs) and temperature control. CPAs makes it possible to store cells at cryogenic temperatures and recover cell viability and functionality at high levels. Cryopreservation of cells and organs, is applied in basic research and biomedical applications. Thus, the increasing demand for cryopreservation media in biomedical research is anticipated to drive the market during the forecast period.

Market Restraint- Regulatory and Compliance Issues

Cryopreservation protocols exist for most areas of research and medicine. A GMP-manufactured, fully-defined cryopreservation media is recommended for use in highly regulated fields, such as cell and gene therapy, to ensure that the products are consistently produced and controlled according to quality standards. Stringent and complicated regulations are applied in the cryopreservation method involved in the preparation and/or storage of cell therapy materials. Factors routinely considered include sample sterility, reproducibility, efficacy, traceability, and the safety of cryoprotectants. Regulations of cells for medical use has increased the need for documented cell handling processes. Complete details of the cryopreservation process, including storage, transport, and thawing, are tracked, recorded, and retained together with the details of the samples and their history. Thus, stringent regulations and compliance issues are expected to hamper the market in the coming years.

Market Opportunity- Increasing Investment In R&D Activities

Research and development (R&D) are essential for economic growth, as it encourages innovation, invention, and progress. In recent times, the investments have fueled innovations in the healthcare industry. Continuous investment in R&D of biotechnology and medical sciences is fostering competitive advantages. In the US, medical and health research and development (R&D) investment reached USD 245.1 billion in 2020, a 11.1% increase from 2019.

Biotechnology companies are investing heavily in research and development to continually improve their products and stay ahead of the competition. This, in turn, is contributing to the overall evolution of cryopreservation media, ensuring continuous improvements in the research field. Significant investment in R&D activities of cancer research is expected to contribute to the growth of the market during the forecast period. In 2022, global oncology spending accounted for 193.0 billion USD. The cancer-drug pipeline and associated investment have been growing substantially. Presently, more than 50.0 billion USD is invested in the R&D of oncology RD annually. Thus, the rising investment in R&D is expected to create growth opportunities during the forecast period.

Scope of the Report  

The report on the global Cryopreservation Media market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
 

Segmental Outlook

Based on Type, the market is segmented into serum-free and with serum. The serum-free segment is expected to hold a considerable share of the market during the forecast, as it ensures high viability of cells. Serum-free cryopreservation media is suitable for applications in stem cell and other research.

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On the basis of End-user, the market is fragmented into pharmaceutical & biotechnology companies, academic & research institutes, cell banks, and others. The pharmaceutical & biotechnology companies held the significant share of the market in 2022, as cryopreservation media is crucial in biotechnological research and drug development.

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Regional Outlook

Based on regions, the market is fragmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America accounted for a significant share of the market in 2022, owing to the presence of highly developed research institutes in the region. Rising research and development activities in North America is expected to contribute to the growth of the market in the coming years.

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Key Developments:

• In 2022, Lonza expanded the functionality of its Cocoon Platform with a new magnetic selection capability for cell therapy manufacturing.

• In 2022, Merck KGaA announced a Euro 100 Million investment for its first Asia-Pacific Mobius Single-use Manufacturing Centre in Wuxi, China.

Key Benefits for Industry Participants & Stakeholders

• In-depth Analysis of the Global Cryopreservation Media Market

• Historical, Current, and Projected Market Size in Terms of Value

• Potential & Niche Segments and Regions Exhibiting Promising Growth Covered

• Industry Drivers, Restraints, and Opportunities Covered in the Study

• Recent Industry Trends and Developments

• Competitive Landscape & Strategies of Key Players