Report : South & Central America 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 10.6% CAGR, the South & Central America Cryopreservation Market is speculated to be worth US$ 626.99 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the South & Central America cryopreservation market was valued at US$ 342.64 million in 2022 and is expected to reach US$ 626.99 millon by 2028, registering an annual growth rate of 10.6% 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 long been acknowledged as a valuable method for long-term genetic resource preservation. However, the outcomes of cryopreservation may vary sometimes due to inconsistencies in processes and freezing equipment. 3D printing is still being explored foe its suitability as a fabrication process for designing, prototyping, testing, and implementing cryopreservation procedures and phenomena. Such devices can offer quantitative data on temperature profiles and phase transitions, which can be utilized to reduce variations in the implementation of established cryopreservation techniques. As the 3D printing approach is becoming more prevalent worldwide and individual devices are being designed based on user requirements. Thus, customization is leading to ultimate standardization that could be an expected result of using this technology. Different user groups can become micro-manufacturers and undertake repeatable cryopreservation techniques, regardless of their location, by exchanging design files. Due to these advantages, 3D printing may be used to create a variety of standardized monitoring devices for cryopreservation applications for obtaining reliable results. A unique 3D printed sensing probe can detect electrical and thermal changes associated with phase-transition processes within a French straw. 3D printed probes can support more complex sensing systems, and printed circuitry can potentially be reduced. This could provide control over freezing and thawing. Further, the devices equipped with 3D printed sensing component can be enabled with Wi-Fi and Bluetooth connectivity for data transfer and utility expansion.
On the contrary, less awareness about ESG software hurdles the growth of South & Central America cryopreservation market.
The South & Central America 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 11.2% in the market during the forecast period. It held 45.7% market share in 2022, amassing US$ 156.61 million. It is projected to garner US$ 296.32 million by 2028.
South & Central America 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 43.4% share of the domain, the liquid nitrogen segment dominated the market in 2022. It accrued US$ 148.85 million in 2022 and is estimated to generate US$ 287.64 million by 2028 to grow at a CAGR of 11.6% over the forecast period.
The South & Central America 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 33.4% share of the market in 2022. Further it held 114.57 million in 2022 and is estimated to generate US$ 205.87 million by 2028 to grow at a CAGR of 10.3% over the forecast period.
The South & Central America 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 38.6% of the market during the forecast period.
Our regional analysis states that Brazil captured 36.5% market share in 2022. It was assessed at US$ 125.13 million in 2022 and is likely to hit US$ 237.57 million by 2028, exhibiting a CAGR of 11.3% during the forecast period.
Key players dominating the South & Central America cryopreservation market are Antech Group Inc.; Avantor, Inc.; BioLife Solutions; Brooks Automation, Inc; Cryoport Systems, LLC.; Danaher Corporation; 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.