Report : Asia Pacific Cryopreservation Equipment Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Type (Freezers, Sample Preparation Systems, and Accessories), Cryogen Type (Liquid Nitrogen, Oxygen, Liquid Helium, Argon, and Others), Application (Cord Blood Stem Cells, Sperms, Semen, & Testicular Tissues, Embryos & Oocytes, Cell & Gene Therapies, and Others), and End User (Stem Cell Banks, Biotechnology & Pharmaceutical Organizations, Stem Cell Research Laboratories, and Others)
At 12.6% CAGR, the Asia Pacific Cryopreservation Market is speculated to be worth US$ 1,846.00 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Asia Pacific cryopreservation market was valued at US$ 906.02 million in 2022 and is expected to reach US$ 1,846.00 million by 2028, registering an annual growth rate of 12.6% from 2022 to 2028. Cryopreservation playing key role in success of cell-based therapies and 3D printing to being essential for sensing and monitoring in cryobiology applications are the critical factors attributed to the market expansion.
Cryopreservation has become an important aspect of the manufacturing process for many cellular therapies, as it occasionally comes before cell culture (by conserving the starting cellular material before moving forward with large-scale manufacturing) and generally follows cell expansion therapies. The ability to store cells at different points during the manufacturing process allows for the creation of a customized workflow. Cryopreservation can be employed in both types of transplant manufacturing processes—a patient-specific therapy, such as autologous therapy, and/or an allogeneic therapy. The efficacy of immune cell-based cancer therapies depends on the injection of highly viable cells after thawing; the injected cells can effectively detect and destroy target tumor cells.
Adopting best practices during manufacturing such as the selection of GMP-grade or suitable cryoprotective agents (CPA) and controlled-rate freezing equipment with appropriate cooling profiles for immune cells helps generate high-quality cells. This guarantees the consistency of products and effective functioning of cells. The cryopreservation of cell-based therapeutic products also aids in quarantining donor cells and final products, allowing for more extensive microbiological testing. Coordinating and transporting the final product in accordance with the patient's treatment plan and extending the final product's shelf life prior to patient administration. Thus, the importance of cryopreservation in the successful delivery of cell-based therapies boosts the use of cryopreservation equipment.
On the contrary, less awareness about ESG software hurdles the growth of Asia Pacific cryopreservation market.
The Asia Pacific cryopreservation equipment market, by type is segmented into freezers, sample preparation systems, and accessories. The freezers segment held the largest share of the market in 2022, moreover the same segment is anticipated to register the highest CAGR of 13.2% in the market during the forecast period. It held 47.6% market share in 2022, amassing US$ 431.23 million. It is projected to garner US$ 906.61 million by 2028.
Asia Pacific cryopreservation equipment market based on the cryogen type is segmented into liquid nitrogen, oxygen, liquid helium, argon, and others. In 2022, the liquid nitrogen segment is likely to hold the largest share of the market. With 45.6% share of the domain, the liquid nitrogen segment dominated the market in 2022. It accrued US$ 413.20 million in 2022 and is estimated to generate US$ 885.25 million by 2028 to grow at a CAGR of 13.5% over the forecast period.
The Asia Pacific cryopreservation equipment market by application, is segmented into cord blood stem cells, sperms, semen & testicular tissues, embryos and oocytes, cell and gene therapies, and others. The cord blood stem cells segment are likely to hold the 33.2% share of the market in 2022. Further it held 300.94 million in 2022 and is estimated to generate US$ 602.32 million by 2028 to grow at a CAGR of 12.3% over the forecast period.
The Asia Pacific cryopreservation equipment market by end user, is segmented into stem cell banks, biotechnology and pharmaceuticals organizations, stem cell research laboratories, and others. The biotechnology and pharmaceuticals organizations segment are likely to hold the largest share of the market in 2022, and the same segment is anticipated to register the highest CAGR of 40.6% of the market during the forecast period.
Our regional analysis states that Japan captured 23.4% market share in 2022. It was assessed at US$ 211.79 million in 2022 and is likely to hit US$ 442.12 million by 2028, exhibiting a CAGR of 13.1 during the forecast period.
Key players dominating the Asia Pacific cryopreservation market are Antech Group Inc.; Avantor, Inc.; BioLife Solutions; Brooks Automation, Inc; Cryofab; Cryoport Systems, LLC.; Danaher Corporation; Gold Sim Cellular Science LLC; Hamilton Company; PHC Holdings Corporation; Thermo Fisher Scientific Inc.; and ZhongkeMeiling Cryogenics Company Limited among others.
- In April 2021, Thermo Scientific CryoMed Controlled-Rate Freezers (CRF) use Type T thermocouples to monitor chamber and sample temperatures in real-time, ensuring sample safety and integrity.
- In March 2021, The company launched new Ultra Low Temperature MDF-DU901VHL (large 900 liters class) with newest cabinet design and intuitive LCD display control in ECO version.