Cell cryopreservation involves preservation of cells by cooling them to sub-zero temperatures, usually by cooling with liquid nitrogen at -196°C. It is widely used in biomedical applications such as stem cell therapy, cord blood banking, egg and sperm banking, and veterinary medicine. Stem cells can be collected from different sources like umbilical cord blood, adipose tissue, and bone marrow and preserved for future therapeutic use in life-threatening chronic diseases such as cancer, cardiovascular diseases, and diabetes.

The global cell cryopreservation market is estimated to be valued at US$ 228.8 Mn in 2023 and is expected to exhibit a CAGR of 5.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:
Rising incidence of chronic diseases is a key factor driving the growth of the global cell cryopreservation market. According to the Centres for Disease Control and Prevention, 6 in 10 adults in the US have a chronic disease. Stem cell therapy is gaining prominence for treating such diseases. Moreover, increasing research activity in regenerative medicine is also propelling market growth. However, high cost associated with stem cell therapy and technical challenges in cryopreservation can restrain the market to a certain extent.

SWOT Analysis

Strength: Cell cryopreservation has advantages over conventional preservation methods. It allows long-term storage and viability of various cell types. It provides an opportunity to store cells for future therapeutic applications. Cell cryopreservation facilitates large-scale production and transportation of cells.

Weakness: Cryopreservation is a complex multistep process and requires rigorous standardization. It involves use of toxic cryoprotectants which can cause damage to some cell types. Slow freezing and thawing rate can also reduce cell viability.

Opportunity: Increasing incidence of cancer and other chronic diseases is driving demand for cell-based therapies. Growing stem cell research provides scope to develop novel treatments. Advancements in cryopreservation techniques can help expand therapeutic applications.

Threats: High costs associated with equipment, liquid nitrogen and cryoprotectants poses challenges. Stringent regulatory approvals for clinical applications delay commercialization. Alternative preservation methods can also emerge.

Key Takeaways

The global cell cryopreservation market is expected to witness high growth over the forecast period of 2023 to 2030. Rapid developments in regenerative medicine and cell therapies are fueling demand. Technological advancements are further supporting market expansion. The global cell cryopreservation market is estimated to be valued at US$ 228.8 Mn in 2023 and is expected to exhibit a CAGR of 5.7% over the forecast period 2023 to 2030.

Regional analysis indicates that North America currently dominates the market due to presence of major players and growing stem cell research in the region. Asia Pacific is projected to register fastest growth owing to rising healthcare spending, increasing government initiatives and expanding clinical research in countries such as China and India.

Key players operating in the cell cryopreservation market are BASF SE, Bayer Group, AkzoNobel N.V., The Dow Chemical Company, LyondellBasell Industries Holdings B.V., E.I. DuPont de Nemours and Company, Mitsui Chemicals, Braskem SA, PPG Industries, and Eastman Chemical Company. These players are focusing on new product approvals and expanding capabilities through acquisitions and collaborations to strengthen their market position.

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