Cryopreservation
Equipment Market: Overview
·
North America and Western Europe are likely to account for dominant shares
of the global cryopreservation equipment market. Increase in the number
of organ transplantations, technological advancements, and rise in healthcare
coverage are likely to drive the cryopreservation equipment market in both
regions during the forecast period.
·
Asia Pacific is expected to be a highly lucrative market for
cryopreservation equipment during the forecast period
·
High competition, however, is likely to hamper the cryopreservation
equipment market
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Increase in Demand for
Regenerative Medicines to Accelerate Cryopreservation Equipment Market Growth
·
Regenerative medicine is the process of creating living, functional tissues
in order to repair or replace tissues lost due to age, disease, damage, or
congenital defects
·
Regenerative medicine has the potential to solve the problem of shortage of
organs available through donation. Rapid development in transplant medicine,
along with the aging of the baby boomer generation has fueled the demand for
tissues and organs far exceeding the available donor organs.
·
Approximately 500,000 people in the U.S. benefit from transplants every
year. Regenerative medicine is expected to improve the quality of life of
individuals by providing healthy, functional tissues, and organs.
Advancements in
Biobanking Technology to Augment Cryopreservation Equipment Market
·
Advancements in biobanking technology have improved new areas of science
such as biorepository and biospecimen
·
Usage of robotic sample handling and processing, along with software
specifically designed for storage management in facilities is anticipated to
make the biobanking process easy and effective, as biobanking grows larger and
more complex
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Storage Problems and
Instability to Restrain Cryopreservation Equipment Market
·
Storage of biological products under required temperature is important for
stability and biological activity
·
Some factors responsible for stability issues are shortage of storage
containers and electricity failure. These factors are expected to restrain the
cryopreservation equipment market.
Asia Pacific
Cryopreservation Equipment Market to Expand Significantly
·
Rise in prevalence of chronic diseases, increase in collaborations between
hospitals and tissue banks, and surge in investments in research &
development are likely to drive the cryopreservation equipment market in Asia
Pacific during the forecast period
·
The cryopreservation equipment market in Asia Pacific is likely to expand
at a high CAGR from 2019 to 2027
·
Growth of the cryopreservation equipment market in the region can be
attributed to increase in healthcare coverage, rise in healthcare expenditure,
surge in awareness among people, and government initiatives
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Global Cryopreservation
Equipment Market: Competition Landscape
·
The report also provides profiles of leading players operating in the
global cryopreservation equipment market. These include Thermo Fisher
Scientific, Inc., Beckman Coulter, Inc., Brooks Automation, Inc., VWR
International, LLC, Merck KGaA, BioLifeSolutions, Inc., Bluechiip Ltd., Custom
Biogenic Systems, Hamilton Company, and PHC Corporation.
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