Freezers Segment has the Largest Share of Type in the North America Cryopreservation Equipment Market during 2021–2028
According to The Insight Partners market research study on “North America Cryopreservation Equipment Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Type, Cryogen Type, Application and End User,” is expected to reach US$ 6,112.6 million by 2028 from US$ 3,096.0 million in 2021. The market is estimated to grow at a CAGR of 10.2% from 2021 to 2028. The report provides trends prevailing in the North America cryopreservation equipment market along with the drivers and restraints pertaining to the market growth. The growth of this market is estimated to grow owing to key driving factors such as the growing acceptance for regenerative medicine and increasing needs of biobanking practices are the key factors driving the market growth. However, the market is expected experiencing slow growth during the forecast period owing to the stringent regulatory requirements for equipment, reagents, cryogens, disposables, and consumables.
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.
The market for cryopreservation equipment market is segmented into type, cryogen type, application, and end user. Based on type, the cryopreservation equipment market is segmented into freezers, sample preparation systems, and accessories. In 2020, the freezers segment held the largest share of the market, by type. Moreover, the same segment is estimated to grow at significant CAGR due to versatile nature of freezers to be used in various settings, easy to use, technological advances, increasing product launches, and high adoption of freezers in stem cell banks during the forecast period.
Thermo Fisher Scientific Inc., Gold Sim Cellular Science Llc, Brooks Automation, Inc., Avantor, Inc., Hamilton Company, PHC Holdings Corporation, General Electric Company, Cryoport Systems, LLC., Antech Group Inc., Cryofab, BioLife Solutions, and ZhongkeMeiling Cryogenics Company Limited are among the leading companies in the North America cryopreservation equipment market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in April 2021, with an initial shipment to a leading cell treatment business, BioLife Solutions, Inc. released a new line of high capacity-controlled rate freezers (HCRF).
The report segments the North America Cryopreservation Equipment market as follows:
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
Contact Us
Phone: +1-646-491-9876
Email Id: sales@theinsightpartners.com