The Europe Cell Cryopreservation Market would witness market growth of 19.9% CAGR during the forecast period (2023-2030).
The rise in biobanks and the surge in demand for personalized medicines have emerged as significant drivers of the market. Biobanks play a crucial role in storing and preserving biological samples, including cells and tissues, for various research and clinical purposes. The market for cell cryopreservation has been growing steadily in recent years due to advancements in biotechnology, increasing research in regenerative medicine, and the development of cell-based therapies. The market includes various products, such as cryopreservation equipment, reagents, and consumables.
Cryopreservation services, including storage and transportation, are also offered by specialized companies. There are several techniques for cryopreserving cells, such as slow freezing and vitrification. Vitrification is a newer technique that involves the rapid cooling of cells to control the appearance of ice crystals, which can spoil the cells. The market is subject to regulatory oversight, particularly when preserving human tissues and cells. Regulatory bodies like the European Medicines Agency (EMA) have guidelines for the storage and handling of these materials. The market is expected to grow as new technologies and techniques are developed to improve cell viability and reduce the associated costs.
According to Germany Trade and Invest, Germany generated a production value of EUR 32.4 billion in 2020, making it one of the leading pharmaceutical manufacturing locations in the EU. In 2020, the pharmaceutical industry in Germany invested almost EUR 7.7 billion in R&D. The pharmaceutical industry in Germany is actively involved in drug discovery and development. Cryopreserved cells and tissues are crucial for screening potential drug candidates and evaluating their efficacy and safety, boosting the demand for cell cryopreservation services. The above aspects will expand the market growth across the region in the upcoming years.
The Germany market dominated the Europe Cell Cryopreservation Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $2,272.7 million by 2030. The UK market is showcasing a CAGR of 18.8% during (2023 - 2030). Additionally, The France market would register a CAGR of 20.8% 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 Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Cell Cryopreservation Market will Hit $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.
By Component
By End-use
By Application
By Country
Unique Offerings Our team of dedicated experts can provide you with attractive expansion opportunities for your business.
