Cryopreservation Equipment Market Size, Share, Growth, Trends, Consumption, Revenue, Company Analysis, Regional Insights and Forecast 2021-2028

Published Date : Nov 2020 | No. of Pages : 200 Pages | Category : Healthcare

The Cryopreservation Equipment Market size is projected to be worth around US$ 10.5 billion by 2028. High competition, however, is likely to hamper the cryopreservation equipment market.

North America and Western Europe are likely to account for dominant shares of the global cryopreservation equipment market. Increase in the number of organ transplantations, technological advancements, and rise in healthcare coverage are likely to drive the cryopreservation equipment market in both regions during the forecast period.

Asia Pacific is expected to be a highly lucrative market for cryopreservation equipment during the forecast period.

Increase in Demand for Regenerative Medicines to Accelerate Cryopreservation Equipment Market Growth

  • Regenerative medicine is the process of creating living, functional tissues in order to repair or replace tissues lost due to age, disease, damage, or congenital defects
  • Regenerative medicine has the potential to solve the problem of shortage of organs available through donation. Rapid development in transplant medicine, along with the aging of the baby boomer generation has fueled the demand for tissues and organs far exceeding the available donor organs.
  • Approximately 500,000 people in the U.S. benefit from transplants every year. Regenerative medicine is expected to improve the quality of life of individuals by providing healthy, functional tissues, and organs.

Advancements in Biobanking Technology to Augment Cryopreservation Equipment Market

  • Advancements in biobanking technology have improved new areas of science such as biorepository and biospecimen
  • Usage of robotic sample handling and processing, along with software specifically designed for storage management in facilities is anticipated to make the biobanking process easy and effective, as biobanking grows larger and more complex

Storage Problems and Instability to Restrain Cryopreservation Equipment Market

  • Storage of biological products under required temperature is important for stability and biological activity
  • Some factors responsible for stability issues are shortage of storage containers and electricity failure. These factors are expected to restrain the cryopreservation equipment market.

Segmentation

  • In terms of type, the global cryopreservation equipment market has been classified into freezers, incubators, sample preparation systems, and accessories. The freezers segment dominated the global cryopreservation equipment market in 2020, as freezers reduce the risk of microbial growth, minimize protein interactions with container closures, and extend the shelf life of biological products. Freezers are used significantly, as these offer safety and stability of biological products.
  • Based on cryogen, the cryopreservation equipment market has been categorized into liquid nitrogen, oxygen, liquid helium, and argon. The liquid nitrogen segment dominated the cryopreservation equipment market in 2020, owing to increase in use of liquid nitrogen for cryopreservation by clinical research organizations and biotechnology & pharmaceutical companies.
  • In terms of application, the global cryopreservation equipment market has been segregated into cord blood stem cells, sperms, semen, and testicular tissues, embryos & oocytes, and others. The sperms, semen, and testicular tissues segment is projected to grow at a rapid pace during the forecast period, as cryopreservation is used to store sperms so that they can remain viable for longer periods.
  • Based on end user, the cryopreservation equipment market has been divided into stem cell banks, biotechnology & pharmaceutical organizations, stem cell research laboratories, and others. The biotechnology & pharmaceutical organizations segment dominated the cryopreservation equipment market in 2020. The segment is expected to sustain its leadership position during the forecast period. Growth of the segment can be attributed to increase in the number of researches to minimize life-threatening diseases through discovery of new drugs.
  • Each of the segments of the cryopreservation equipment market has been analyzed in detail for market trends, recent trends, and developments, drivers, restraints, opportunities, and useful insights. The report provides current and future revenues (US$ Mn) for each of these segments for the period from 2017 to 2028, considering 2020 as the base year. The compound annual growth rate (CAGR) has been provided for each segment and market from 2021 to 2028 along with market size estimations.

Asia Pacific Cryopreservation Equipment Market to Expand Significantly

  • Rise in prevalence of chronic diseases, increase in collaborations between hospitals and tissue banks, and surge in investments in research & development are likely to drive the cryopreservation equipment market in Asia Pacific during the forecast period
  • The cryopreservation equipment market in Asia Pacific is likely to expand at a high CAGR from 2021 to 2028
  • Growth of the cryopreservation equipment market in the region can be attributed to increase in healthcare coverage, rise in healthcare expenditure, surge in awareness among people, and government initiatives

Automated Systems in Sample-prep Support Cryo-em Analysis for Protein and Drug Discovery

The cryopreservation equipment market is witnessing innovations in advanced sample preparation systems. For instance, TTP Labtech - a manufacturer of products within sample management, announced the launch of its next-gen automated system for sample-prep. Companies are making efforts to innovate in cryogenic electron microscopy (cryo-EM) in advanced sample preparation systems. As such, sample preparation systems are projected for exponential growth in the cryopreservation equipment market.

Innovations in sample-prep systems are paving the way for cryo-EM analysis, which is instrumental in protein research and drug discovery. High-quality foil grids in systems for cryo-EM analysis are increasingly replacing manual processes in the healthcare industry. Thus, stakeholders in biotechnology and research laboratories are benefitting from these advanced systems to assess structure of biomolecules and support protein research. Advanced sample-prep systems are pervasively replacing conventional methods of NMR (Nuclear Magnetic Resonance) and X ray crystallography. These systems offer areas for researchers to solve complex protein structures, which was not possible with conventional methods. Improved 3D imaging and high speed blot-free plunging are key attributes that are attracting research companies in the cryopreservation equipment market landscape.

Stem Cell Storage and New Cell Manufacturing Plants Create Income Sources for Companies

Emergence of new cell manufacturing plants is complementing the growth of the cryopreservation equipment market. For instance, Cellex Incorporated - a biotechnology company, announced the launch of its cell manufacturing plant in Cologne, Germany to produce advanced therapy medicinal products for cryopreservation and cell purification, among others.

Companies in the cryopreservation equipment market are expanding their services in long-term cryo-storage of advanced therapy medicinal products. Thus, manufacturing innovative cell therapy products for cancer is beneficial for creating new income opportunities for manufacturers of cryopreservation equipment. However, growth of the stem cells industry is another driver of the cryopreservation equipment market growth. Growing awareness about stem cell storage at birth is gaining importance in the cryopreservation equipment market landscape.

Cutting-edge Sensor Technology Aids pH and Co2 Measurement in Benchtop Incubators

The cryopreservation equipment market is largely consolidated with three dominant players accounting for a combined share of ~66% of the cryopreservation equipment market. However, difficulty to establish the right culture environment and incubator conditions for laboratories and IVF clinics are some of the challenges faced by emerging players. Hence, manufacturers in the cryopreservation equipment market are increasing production capabilities to develop equipment that provide insights on pH measurement. For instance, Planer — a supplier of controlled temperature products, innovated in PetriSense®ST, a sensor that provides monitoring of pH and CO2 in benchtop incubators.

Incubators type segment dominates the cryopreservation equipment market and is projected to reach a value of ~US$ 2.9 Bn by 2028. Hence, equipment companies are increasing technical expertise in sensor technology to support incubator applications in laboratories and IVF clinics. Portability and flexibility of petri dish-sized sensors is gaining application in laboratory equipment. Thus, manufacturers in the cryopreservation equipment market are expected to increase their scope for incremental opportunities by developing advanced sensor equipment to cater to the needs of end users in labs and clinics.

Competition Landscape

The report also provides profiles of leading players operating in the global cryopreservation equipment market. These include Thermo Fisher Scientific, Inc., Beckman Coulter, Inc., Brooks Automation, Inc., VWR International, LLC, Merck KGaA, BioLifeSolutions, Inc., Bluechiip Ltd., Custom Biogenic Systems, Hamilton Company, and PHC Corporation.

Market Segmentation

By Type

    • Freezers
      • Cryopreservation Freezers
      • Drystore Freezers
    • Incubators
    • Sample Preparation Systems
    • Accessories
      • Freezer Boxes
      • Cryogenic Vaporizers
      • Cryopreservation Vials
      • Others

By Cryogen

    • Liquid Nitrogen
    • Oxygen
    • Liquid Helium
    • Argon

By Application

    • Cord Blood Stem Cells
    • Sperms, Semen, and Testicular Tissues
    • Embryos & Oocytes
    • Others

By End User

    • Stem Cell Banks
    • Biotechnology & Pharmaceutical Organizations
    • Stem Cell Research Laboratories
    • Others

By Region

    • North America
      • U.S.
      • Canada
    • Europe
      • Germany
      • U.K.
      • France
      • Italy
      • Spain
      • Rest of the Europe
    • Asia Pacific          
      • China
      • India
      • Japan
      • Australia & New Zealand
      • Rest of Asia Pacific
    • Latin America
      • Brazil
      • Mexico
      • Rest of Latin America
    • Middle East & Africa
      • GCC Countries
      • South Africa
      • Rest of Middle East & Africa

Report Scope

The Cryopreservation equipment market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of Cryopreservation equipment market for the base year 2020 and the forecast between 2021 and 2028. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global Cryopreservation equipment market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Cryopreservation equipment market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Cryopreservation equipment market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Cryopreservation equipment capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Cryopreservation equipment by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Cryopreservation equipment market. These figures have been provided in terms of both revenue and volume for the period 2017 to 2028. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Cryopreservation equipment market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Cryopreservation equipment market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the Cryopreservation equipment industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

Cryopreservation equipment market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Cryopreservation equipment market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Cryopreservation equipment market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Cryopreservation equipment market. These factors have benefited the growth of the global market for Cryopreservation equipment. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Cryopreservation equipment. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of Cryopreservation equipment are as follows:

  • History Year: 2017-2020
  • Base Year: 2020
  • Forecast Year 2021 to 2028

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

Market Size Estimation

Top-down and bottom-up approaches are used to estimate and validate the global market size for company, regional division, product type and application (end users).

The market estimations in this report are based on the selling price (excluding any discounts provided by the manufacturer, distributor, wholesaler or traders). Market share analysis, assigned to each of the segments and regions are achieved through product utilization rate and average selling price.

Major manufacturers & their revenues, percentage splits, market shares, growth rates and breakdowns of the product markets are determined through secondary sources and verified through the primary sources.

All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or others factors are accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Vision Research Reports and presented in this report.

Market Breakdown and Data Triangulation

After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation. Extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report.

Secondary Sources

Secondary Sources occupies approximately 25% of data sources, such as press releases, annual reports, Non-Profit organizations, industry associations, governmental agencies and customs data, and so on. This research study includes secondary sources; directories; databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), TRADING ECONOMICS, and avention; Investing News Network; statista; Federal Reserve Economic Data; annual reports; investor presentations; and SEC filings of companies.

Primary Sources

 In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product manufacturers (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.

The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end users (product buyers), and related key executives from various key companies and organizations operating in the global market.

The study objectives of this report are:

  • To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2028);
  • Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
  • Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
  • To define, describe and forecast the market by type, application and region.
  • To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
  • To identify significant trends and factors driving or inhibiting the market growth.
  • To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
  • To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
  • To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
  • To strategically profile the key players and comprehensively analyze their growth strategies.

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