Global Cryopreservation Systems Market Outlook
Revenue, 2024
Forecast, 2034
CAGR, 2024 - 2034
Cryopreservation systems play a role in today's research and biotechnology field by assisting in storing and protecting biological cells and tissues at extremely low temperatures to slow down biological processes effectively, for long term preservation without causing harm.
Market Key Insights
- The Cryopreservation Systems market is projected to grow from $2.5 billion in 2024 to $7.5 billion in 2034. This represents a CAGR of 11.7%, reflecting rising demand across Stem Cell Research, Organ Transplants and In Vitro Fertilization.
- Thermo Fisher Scientific Inc., Brooks Automation Inc., Chart Industries Inc. are among the leading players in this market, shaping its competitive landscape.
- U.S. and Germany are the top markets within the Cryopreservation Systems market and are expected to observe the growth CAGR of 8.5% to 12.3% between 2024 and 2030.
- Emerging markets including Brazil, India and South Africa are expected to observe highest growth with CAGR ranging between 11.2% to 14.6%.
- Transition like Evolution towards Automated Cryopreservation Systems is expected to add $700.0 million to the Cryopreservation Systems market growth by 2030
- The Cryopreservation Systems market is set to add $5.0 billion between 2024 and 2034, with industry players targeting Organ Transplants & In Vitro Fertilization Therapeutic Application projected to gain a larger market share.
- With Biomedical advancements, and Upsurge in cord blood banking, Cryopreservation Systems market to expand 202% between 2024 and 2034.
Opportunities in the Cryopreservation Systems
The growing focus on healthcare and genomics has resulted in a rise in the need for biobanking services and advanced cryopreservation technology to effectively store tissues for future use, in the biobanking industry—a trend that could lead to substantial market growth.
Growth Opportunities in North America and Asia-Pacific
North America Outlook
In North America, the Cryopreservation Systems market has shown remarkable growth primarily due to the increasing use of advanced preservation techniques in healthcare and research institutions. Key opportunities are mainly linked to the escalating demand in sectors such as biopharmaceuticals, regenerative medicine, and in-vitro fertilization.Nonetheless, competition is stiff with industry frontrunners such as Thermo Fisher Scientific and Merck Group dominating the market due to their broad product portfolios and robust distribution networks. Additionally, the widespread use of AI and ML in Cryopreservation Systems could serve as a significant market driver in this region, bolstering the growth further.
Asia-Pacific Outlook
In contrast, the Asia-Pacific region holds immense potential for the Cryopreservation Systems market. Higher birth rates and increasing awareness about IVF treatments are driving the demand. Moreover, the proliferating biotechnology sector, primarily in countries like China and India, presents notable opportunities for commercial cryopreservation technologies. The market certainly faces competition, but its largely from international vendors, creating a substantial space for domestic players to grow. The principal market driver in this region is anticipated to be the surge in genomic data and the necessity for its long-term storage, followed by advancements in bio-banking technology.
Market Dynamics and Supply Chain
Driver: Biomedical Advancements, and Technological Innovations
The growing popularity of storing cord blood. A process that involves preserving stem cells from a babys cord for potential future medical treatments. has also highlighted the importance of cryopreservation systems in this field. These innovative systems have also played a role, in making cord blood storage a practical option and have also significantly contributed to the markets growth.
Restraint: High Cost of Cryopreservation Equipment
Opportunity: Technological Innovations and Opportunities in Emerging Markets
In nations such as India and China that have expanding healthcare systems and growing research structures in place can offer avenues for development in cryopreservation technology systems forming partnerships with local organizations, for manufacturing or distribution could open up strategic routes to reach these emerging markets.
Challenge: Tightening Regulatory Standards
Supply Chain Landscape
Thermo Fisher Scientific
Merck Millipore
Brooks Automation
Chart Industries
Planer
Astero Bio
Biotechnology
Fertility Clinics
Pharmaceuticals
Thermo Fisher Scientific
Merck Millipore
Brooks Automation
Chart Industries
Planer
Astero Bio
Biotechnology
Fertility Clinics
Pharmaceuticals
Applications of Cryopreservation Systems in Stem Cell Research, Organ Transplants & In Vitro Fertilization
Cryopreservation systems are extensively used in stem cell research. Ultralow temperature cryopreservation systems are the go-to solution in this field, as they help maintain the viability of sensitive cell cultures during long-term storage. The application offers the unique advantage of preserving samples for future studies, eliminating the need for continuous cell cultures. Key players in this field include Thermo Fisher Scientific and Brooks Life Sciences, both known for providing advanced, reliable, and efficient cryopreservation systems, thereby commanding a strong presence in the market.
Cryopreservation systems are an indispensable tool in assisted reproductive technologies, more specifically in invitro fertilization clinics. They use vitrification-based cryopreservation systems to preserve sperm, oocytes, and embryos, ensuring their survival for future use. This application allows for the storage and management of genetic resources over extended periods, giving new hope to couples struggling with infertility. Notably, major companies such as Chart Industries and BioLife Solutions excel in this niche, offering high-tech, user-friendly systems that highlight their superior market standing.
Cryopreservation systems also hold crucial importance in the organ transplant field. Here, controlled-rate freezing systems are primarily used to store donated organs until a suitable recipient is found.
Recent Developments
Thermo Fisher Scientific, a key player in the Cryopreservation Systems market, launched an innovative, high-efficiency cryopreservation system, enhancing the longevity and viability of preserved cells
BioLife Solutions announced expansion of their cryopreservation systems production capacities to meet the escalating demand from stem cell and regenerative medicine sectors
Merck KGaA made a strategic partnership with CryoTherapeutics to refine and extend their Cryopreservation Systems offering in the cardiovascular disease treatment landscape.