Cryopreservation is a technique of preserving and maintaining biological samples at ultra-low temperature (less than/at -196o C) in a suspended state. Cryopreservation is followed for preservation of cells, organelles, and tissues for considerable period for future applications.
Global cryopreservation equipment market is expected to be driven by growth in stem cells preservation industry
Cryopreservation is followed for various applications such as, in case of women diagnosed with breast cancer, prior to chemotherapy the preservation of embryos and oocytes with in-vitro fertilization (IVF) cycle is done in order to preserve their reproductive capacity.
Increasing research and development to improve and develop advanced cryopreservation equipment is expected to drive growth of the cryopreservation equipment market in the forecast period. Also, increasing mergers and acquisition among leading players of the market expected to support growth of the target market in next five years.
The global cryopreservation equipment market has been segmented on the basis of equipment type, cryogen, application, end user, and region.
On the basis of equipment type, the global cryopreservation equipment market has been segmented into incubators, freezers, sample preparation systems, and accessories. The freezers segment is further classified into cryopreservation freezers and dry store freezers. Also, the accessories segment is further sub-divided into freezer box, cryogenic vaporizer, cryopreservation vials, and other accessories.
The cryogen segment includes liquid nitrogen, oxygen, liquid helium, and argon. Furthermore, the application segment has been divided into cord blood stem cells, sperms, semen, & testicular tissues, embryos & oocytes, and other applications.
On the basis of end user, the global cryopreservation equipment market has been segmented into stem cell banks, biotechnology & pharmaceutical organizations, stem cell research laboratories and others.
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Regional segmentation includes North America, Europe, Latin America, Asia Pacific and Middle East & Africa. North America contributes major market share and expected to maintain its dominance over the forecast period owing to presence of leading players and well developed healthcare sector in the region. Asia Pacific region is expected to witness rapid growth over the forecast period. Countries such as India, China are expected to support growth of the market, owing to rapid growth in stem cell research and development in the region.
Some prominent players in the global cryopreservation equipment market include Thermo Fisher Scientific, Inc., Chart Biomedical Co. Ltd., Custom Biogenic Systems, Barber-Nichols Inc., Merck KGaA, Linde LLC., Praxair Technology, Inc., Cryologic Pty. Ltd., Planer PLC, Charter Medicals, and Nikkiso Cryo Inc.