The Latin America, Middle East and Africa Cell Freezing Media Market would witness market growth of 12.8% CAGR during the forecast period (2023-2030).
The demand for cell freezing media is also increasing because of the rising need for treatments and medicines due to the aging population. As people get older, a variety of ailments and issues might arise. Immune systems play a significant part in most diseases common in the elderly age range.
Academic institutions, research groups, and industrial entities increasingly collaborate in the market. As a result of these collaborations, new cell freezing media formulations and technologies have been created, facilitating market expansion. Additionally, venture capitalists and funding organizations have increased research and development efforts in the industry, which has helped the market grow.
Pharmaceutical advancements, together with improved living conditions and more effective public health interventions, have all played a significant role in extending life expectancy and improving the quality of life in Latin America. The bulk of illnesses in this region are non-communicable illnesses that tend to accumulate in aging populations. For instance, the International Agency for Research on Cancer (IARC) estimates 700,000 cancer deaths and 1.5 million new cases of the disease each year throughout Latin America. Accordingly, the incidence and mortality rates were 186.5 and 86.6 per 100,000. In the upcoming years, the regional market will quickly develop.
The Brazil market dominated the LAMEA Cell Freezing Media Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $4,983.6 Thousands by 2030. The Argentina market is estimated to grow a CAGR of 13.4% during (2023 - 2030). Additionally, The UAE market would exhibit a CAGR of 12.4% during (2023 - 2030).
Based on Product, the market is segmented into DMSO, Glycerol, and Others. Based on Application, the market is segmented into Stem Cell lines, Cancer Cell Lines, and Others. Based on End-Use, the market is segmented into Pharmaceutical & Biotechnological Companies, Research & Academic Institutes, and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Worldwide Cell Freezing Media Market is Projected to reach USD 283.7 Million by 2030, at a CAGR of 9.7%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Thermo Fisher Scientific, Inc., Merck KGaA, Sartorius AG, Bio-Techne Corporation, HiMedia Laboratories Pvt. Ltd., BPS Bioscience, Inc., BioLife Solutions, Inc., PromoCell GmbH, Capricorn Scientific GmbH, and Cell Applications, Inc.
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