Cryopreservation Media Market By Type (Serum-free and With Serum), End-user (Pharmaceutical & Biotechnology Companies, Academic & Research Institutes, Cell Banks, and Others) and Regions (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends and, Forecast 2023 – 2031
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.
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.
Attributes |
Details |
Report Title |
Cryopreservation Media Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast |
Base Year |
2022 |
Historic Data |
2016-2021 |
Forecast Period |
2023–2031 |
Segmentation |
By Type (Serum-free and With Serum), By End-user (Pharmaceutical & Biotechnology Companies, Academic & Research Institutes, Cell Banks, and Others) |
Regional Scope |
Regions (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) |
Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
Key Players Covered |
Thermo Fisher Scientific Inc, Lonza, STEMCELL Technologies, Merck KGaA, Danaher (Cytiva), BioLife Solutions Inc., Bio-Techne, Sartorius AG (Biological Industries), HiMedia Laboratories, NIPPON Genetics EUROPE, Capricorn Scientific, PromoCell GmbH. |
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.
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.
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.
Key Developments:
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In 2022, Lonza expanded the functionality of its Cocoon Platform with a new magnetic selection capability for cell therapy manufacturing.
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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
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In-depth Analysis of the Global Cryopreservation Media Market
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Historical, Current, and Projected Market Size in Terms of Value
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Potential & Niche Segments and Regions Exhibiting Promising Growth Covered
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Industry Drivers, Restraints, and Opportunities Covered in the Study
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Recent Industry Trends and Developments
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Competitive Landscape & Strategies of Key Players
Video Summary for Cryopreservation Media Market :
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Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Cryopreservation Media Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Cryopreservation Media Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Cryopreservation Media Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Cryopreservation Media Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Cryopreservation Media Market Size & Forecast, 2016-2031
4.5.1 Cryopreservation Media Market Size and Y-o-Y Growth
4.5.2 Cryopreservation Media Market Absolute $ Opportunity
Chapter 5 Global Cryopreservation Media Market Analysis and Forecast By Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities By Type
5.1.2 Basis Point Share (BPS) Analysis By Type
5.1.3 Absolute $ Opportunity Assessment By Type
5.2 Cryopreservation Media Market Size Forecast By Type
5.2.1 Serum-Free
5.2.2 With Serum
5.3 Market Attractiveness Analysis By Type
Chapter 6 Global Cryopreservation Media Market Analysis and Forecast By End-user
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities By End-user
6.1.2 Basis Point Share (BPS) Analysis By End-user
6.1.3 Absolute $ Opportunity Assessment By End-user
6.2 Cryopreservation Media Market Size Forecast By End-user
6.2.1 Pharmaceutical & Biotechnology Companies
6.2.2 Academic & Research Institutes
6.2.3 Cell Banks
6.2.4 Others
6.3 Market Attractiveness Analysis By End-user
Chapter 7 Global Cryopreservation Media Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Cryopreservation Media Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Cryopreservation Media Analysis and Forecast
9.1 Introduction
9.2 North America Cryopreservation Media Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Cryopreservation Media Market Size Forecast By Type
9.6.1 Serum-Free
9.6.2 With Serum
9.7 Basis Point Share (BPS) Analysis By Type
9.8 Absolute $ Opportunity Assessment By Type
9.9 Market Attractiveness Analysis By Type
9.10 North America Cryopreservation Media Market Size Forecast By End-user
9.10.1 Pharmaceutical & Biotechnology Companies
9.10.2 Academic & Research Institutes
9.10.3 Cell Banks
9.10.4 Others
9.11 Basis Point Share (BPS) Analysis By End-user
9.12 Absolute $ Opportunity Assessment By End-user
9.13 Market Attractiveness Analysis By End-user
Chapter 10 Europe Cryopreservation Media Analysis and Forecast
10.1 Introduction
10.2 Europe Cryopreservation Media Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Cryopreservation Media Market Size Forecast By Type
10.6.1 Serum-Free
10.6.2 With Serum
10.7 Basis Point Share (BPS) Analysis By Type
10.8 Absolute $ Opportunity Assessment By Type
10.9 Market Attractiveness Analysis By Type
10.10 Europe Cryopreservation Media Market Size Forecast By End-user
10.10.1 Pharmaceutical & Biotechnology Companies
10.10.2 Academic & Research Institutes
10.10.3 Cell Banks
10.10.4 Others
10.11 Basis Point Share (BPS) Analysis By End-user
10.12 Absolute $ Opportunity Assessment By End-user
10.13 Market Attractiveness Analysis By End-user
Chapter 11 Asia Pacific Cryopreservation Media Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Cryopreservation Media Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Cryopreservation Media Market Size Forecast By Type
11.6.1 Serum-Free
11.6.2 With Serum
11.7 Basis Point Share (BPS) Analysis By Type
11.8 Absolute $ Opportunity Assessment By Type
11.9 Market Attractiveness Analysis By Type
11.10 Asia Pacific Cryopreservation Media Market Size Forecast By End-user
11.10.1 Pharmaceutical & Biotechnology Companies
11.10.2 Academic & Research Institutes
11.10.3 Cell Banks
11.10.4 Others
11.11 Basis Point Share (BPS) Analysis By End-user
11.12 Absolute $ Opportunity Assessment By End-user
11.13 Market Attractiveness Analysis By End-user
Chapter 12 Latin America Cryopreservation Media Analysis and Forecast
12.1 Introduction
12.2 Latin America Cryopreservation Media Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Cryopreservation Media Market Size Forecast By Type
12.6.1 Serum-Free
12.6.2 With Serum
12.7 Basis Point Share (BPS) Analysis By Type
12.8 Absolute $ Opportunity Assessment By Type
12.9 Market Attractiveness Analysis By Type
12.10 Latin America Cryopreservation Media Market Size Forecast By End-user
12.10.1 Pharmaceutical & Biotechnology Companies
12.10.2 Academic & Research Institutes
12.10.3 Cell Banks
12.10.4 Others
12.11 Basis Point Share (BPS) Analysis By End-user
12.12 Absolute $ Opportunity Assessment By End-user
12.13 Market Attractiveness Analysis By End-user
Chapter 13 Middle East & Africa (MEA) Cryopreservation Media Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Cryopreservation Media Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Cryopreservation Media Market Size Forecast By Type
13.6.1 Serum-Free
13.6.2 With Serum
13.7 Basis Point Share (BPS) Analysis By Type
13.8 Absolute $ Opportunity Assessment By Type
13.9 Market Attractiveness Analysis By Type
13.10 Middle East & Africa (MEA) Cryopreservation Media Market Size Forecast By End-user
13.10.1 Pharmaceutical & Biotechnology Companies
13.10.2 Academic & Research Institutes
13.10.3 Cell Banks
13.10.4 Others
13.11 Basis Point Share (BPS) Analysis By End-user
13.12 Absolute $ Opportunity Assessment By End-user
13.13 Market Attractiveness Analysis By End-user
Chapter 14 Competition Landscape
14.1 Cryopreservation Media Market: Competitive Dashboard
14.2 Global Cryopreservation Media Market: Market Share Analysis, 2022
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Thermo Fisher Scientific Inc
14.3.2 Lonza
14.3.3 STEMCELL Technologies
14.3.4 Merck KGaA
14.3.5 Danaher (Cytiva)
14.3.6 BioLife Solutions Inc.
14.3.7 Bio-Techne
14.3.8 Sartorius AG (Biological Industries)
14.3.9 HiMedia Laboratories
14.3.10 NIPPON Genetics EUROPE
14.3.11 Capricorn Scientific
14.3.12 PromoCell GmbH