The Asia Pacific Cell Cryopreservation Market would witness market growth of 21.1% CAGR during the forecast period (2023-2030).
Cell freezing media plays a critical role in preserving cell viability during the thawing & freezing procedures, which is essential for cell therapy applications. Different initiatives implemented by market participants to boost applications of cellular treatments in managing chronic illnesses are expected to fuel market growth. Scribe Therapeutics and Sanofi established a collaboration in September 2022 to commercialize CRISPR-based cancer medicines, which increased the demand for cryopreservation techniques and further fueled the market growth.
The increasing government financing for R&D activities opens up attractive potential for cell cryopreservation expansion. The Indian government has been critical in building advanced stem cell research facilities in prominent health research and education institutes. It has pushed stem cell research across several departments and institutes, with national funding organizations such as the ICMR, the Department of Biotechnology (DBT), and the Department of Science and Technology (DST) supporting fundamental and practical studies. Thus, it will propel the market growth during the forecast period.
According to Invest India, in 2023, total pharmaceuticals FDI inflows is 3.3%. The pharmaceutical sector in India often collaborates with research institutions and academic organizations, leading to the sharing of cryopreserved samples and research resources. As the pharmaceutical industry in India expands its research and development activities and product portfolios, the demand for cryopreservation services is likely to grow, potentially leading to an expansion of the market. Due to such aspects the market will boost market growth.
The China market dominated the Asia Pacific Cell Cryopreservation Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $2,666.8 million by 2030. The Japan market is exhibiting a CAGR of 20.3% during (2023 - 2030). Additionally, The India market would experience a CAGR of 21.9% during (2023 - 2030).
Based on Component, the market is segmented into Consumables (Cryogenic Vials, Cryogenic Tubes, Cooler Boxes/Containers, and Others), Cell Freezing Media (Dimethyl Sulfoxide, Ethylene Glycol, Glycerol & Others), and Equipment (Freezers, Incubators, and Liquid Nitrogen Supply Tanks). Based on End-use, the market is segmented into IVF clinics, Biopharmaceutical & Pharmaceutical Companies, Biobanks, Research Institutes, and Others. Based on Application, the market is segmented into Stem Cells, Oocytes & Embryotic cells, Sperm Cells, Hepatocytes, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Global Cell Cryopreservation Market is Predict to reach $35.7 Billion by 2030, at a CAGR of 20.3%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Merck KGaA, Thermo Fisher Scientific, Inc., Sartorius AG, PromoCell GmbH, Lonza Group Ltd., HiMedia Laboratories Pvt. Ltd., Corning Incorporated, BioLife Solutions, Inc., Eppendorf SE and Danaher Corporation.
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