North America Cryopreservation Equipment Market to Grow at a CAGR of 10.2% to reach US$ 6,112.6 Mn Million from 2021 to 2028

The cryopreservation equipment market in North America is expected to grow from US$ 3,096.0 million in 2021 to US$ 6,112.6 million by 2028; it is estimated to grow at a CAGR of 10.2% from 2021 to 2028.

Cryopreservation plays an important part in the field of regenerative medicine as it facilitates stable and secure storage of cells and other related components for a prolonged time. Regenerative medicine enables replacing diseased or damaged cells, tissues, and organs by retrieving their normal function through stem cell therapy. Owing to the advancements in the medical technology, stem cell therapy is now being considered as an alternative to traditional drug therapies in the treatment of a wide range of chronic diseases, including diabetes and neurodegenerative diseases. Moreover, the US Food and Drug Administration (FDA) has approved blood-forming stem cells. The blood-forming stem cells are also known as hematopoietic progenitor cells that are derived from umbilical cord blood. The growing approvals for stem cell and gene therapies are eventually leading to the high demand for cryopreservation equipment.

North America has been witnessing a growing number of COVID-19 cases since its outbreak. The market is expected to grow at steady rate, owing to the precaution that are taken during by the manufacturers of cryopreservation equipment and thus due to COVID-19, this market is not likely to hinder. For researchers such as histopathologists who deal with morbid tissue samples, inactivation of the coronavirus has proved one of the greatest challenges of the present day. However, in certain cases vitrification of egg and embryos was an important freezing technique to tailor the most appropriate transfers in assisted reproduction. Cryopreservation techniques were used at significant rates during the pandemic in stem cell laboratories. Thus, the evident use of cryopreservation equipment led to a considerate growth in the market during the pandemic.

With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the cryopreservation equipment market. The North America Cryopreservation equipment market is expected to grow at a good CAGR during the forecast period.

North America Cryopreservation Equipment Market Segmentation     

By Type

• Freezers
• Sample Preparation Systems
• Accessories
  • Freezer Boxes
  • Freezer Racks
  • Cryopreservation Vials
  • Others

By Cryogen Type

• Liquid Nitrogen
• Oxygen
• Liquid Helium
• Argon
• Others

By Application

• Cord Blood Stem Cells
• Sperms Semen and Testicular Tissues
• Embryos and Oocytes
• Cell and Gene Therapies
• Others

By End User

• Stem Cell Banks
• Biotechnology and Pharmaceutical Organizations
• Stem Cell Research Laboratories
• Others

By Country

• North America
  • US
  • Canada
  • Mexico

Companies Mentioned

1. Thermo Fisher Scientific Inc.                  
2. Gold Sim Cellular Science Llc                
3. Brooks Automation, Inc    
4. Avantor, Inc.         
5. Hamilton Company            
6. PHC Holdings Corporation               
7. General Electric Company               
8. Cryoport Systems, LLC.     
9. Antech Group Inc.               
10. Cryofab    
11. BioLife Solutions                  
12. ZhongkeMeiling Cryogenics Company Limited

North America Cryopreservation Equipment Report Scope