(MENAFN- EIN Presswire)
Cell Cryopreservation market size, share, demand,
PORTLAND, OR, UNITED STATES, October 30, 2024 /EINPresswire / -- Cell Cryopreservation Market Growth Fueled by Increased R&D,
government Support, and Chronic
disease Prevalence
The cell cryopreservation market is witnessing rapid growth, driven by advancements in research, heightened government support, and a rise in chronic diseases. With a market size valued at $10.3 billion in 2022, it is projected to reach $76.6 billion by 2032, expanding at a CAGR of 22.2% from 2023 to 2032. Here's an overview of the factors propelling this growth:
Get a Sample Copy of this Report:
Key Market Drivers
.Research & Development Surge: Increased R&D activities, especially in stem cell research and therapeutic applications, fuel the demand for cell cryopreservation solutions .
.Government Support: Growing government investments and funding for biobanks and research institutes boost market growth. For instance, the UK Biobank recently received $134.36 million for a new facility.
.Chronic Disease Prevalence: Rising rates of chronic conditions have escalated the demand for long-term cell preservation for therapeutic purposes.
Innovations and Key Market Developments
.Technological Advancements: Innovations such as BioLife Solutions' IntelliRate i67C, a high-capacity liquid nitrogen freezer, are enhancing storage capacity and efficiency in cell preservation.
.FDA Approvals: The U.S. FDA approved 29 cell and gene therapies by 2023, which strengthens the potential applications of cryopreserved cells.
.Stem Cell Preservation: Cryopreservation is essential for stem cell storage, supporting regenerative medicine and stem cell transplants, both of which are seeing increased demand.
Market Segmentation Highlights
.By Type:
.Cryopreservation Media: The largest revenue contributor in 2022 due to its application across regenerative medicine and drug discovery.
.Equipment: Expected to grow fastest, driven by the expansion of biobanks and research facilities.
.By Application:
.Stem Cells: Forecasted to grow significantly due to expanding stem cell therapy research.
.Other Cells: Including blood cell preservation, contributing substantially to market revenue.
.By End User:
.Pharmaceutical & Biotechnology Companies: Major players utilizing cryopreservation for product R&D and storage.
.Research Institutes: Growing demand for cryopreservation facilities in research and clinical applications.
Regional Insights
.North America: Dominated the market in 2022, attributed to high chronic disease rates and a strong biotechnology industry presence.
.Asia-Pacific: Expected to exhibit the highest CAGR, supported by increased healthcare investments, R&D activities, and government support.
Future Outlook
The market faces challenges such as competition from alternative therapies. However, supportive government policies and ongoing R&D investments promise new opportunities for market expansion through 2032.
Enquire Before Buying:
David Correa
Allied Market Research
+1 800-792-5285
email us here
Visit us on social media:
Facebook
X
Legal Disclaimer:
EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability
for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this
article. If you have any complaints or copyright issues related to this article, kindly contact the author above.
MENAFN30102024003118003196ID1108832170
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.