Cryopreservation Equipment Market is Projected to be Worth ~US$ 10.2 Bn by the End of 2027
Cryopreservation Equipment Market is Projected to be Worth ~US$ 10.2 Bn by the End of 2027
Published by TMR Research Insights
Posted on August 11, 2021
Cryopreservation Equipment Market: Overview
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
High competition, however, is likely to hamper the cryopreservation equipment market
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.
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 2019 to 2027
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
Global Cryopreservation Equipment Market: 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.
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TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.
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
High competition, however, is likely to hamper the cryopreservation equipment market
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.
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 2019 to 2027
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
Global Cryopreservation Equipment Market: 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.
More Trending Reports by Transparency Market Research –
Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals. Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information, we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.
TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.
