Cell Cryopreservation Market to Surpass US$ 4.0 Billion by 2026 - Coherent Market Insights

SEATTLE - July 14, 2020 - PRLog -- Global Cell Cryopreservation Market, by Product Type (Cry protectant Agents and Equipment), by Application (Stem Cells, Oocytes and Embryos, Sperm, Semen, and Testicular Tissue, Hepatocytes, and Others), by End User (Pharmaceutical and Biotechnology Companies, Academic and Research Institutes, Bio bank, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) was valued at US$ 3,350.9 million in 2017, and is estimated to exhibit a CAGR of 22.5% over the forecast period (2018-2026), as highlighted in a new report published by Coherent Market Insights .

Increasing regulatory product approvals and product launches by market players are expected to augment the market growth.

Major market players are focusing on product launches and regulatory product approvals, in order to expand their product portfolio. For instance, in 2014, Asymptote Ltd., a U.K.-based cryopreservation specialist launched its range of liquid nitrogen-free controlled rate freezers, especially designed for the needs of regenerative medicine. This product was launched in the annual meeting of the International Society for Cellular Therapy (ISCT), held at Paris, France.

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Moreover, increasing research activities by universities and research organizations to develop novel freezing methods is further expected to fuel the market growth over the forecast period. For instance, in May 2019, researchers of Shinshu University, Japan developed a technique to cryopreserve animal cells without using antifreeze or cry protectant agent by flash freezing cells. The researchers aim to apply this freezing method for preserving cells that are particularly sensitive to cryopreservation.

Moreover, key players in the market are focusing on mergers and acquisitions, in order to expand their product portfolio. For instance, in October 2018, Thermo Fisher Scientific Inc. acquired Advanced Bioprocessing business from Becton, Dickinson and Company. This acquisition helped Thermo Fischer to expand its product portfolio of life sciences solutions segment, and enabled the company to bring new drugs into the market at faster pace.

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