DUBLIN, Sept. 7, 2023 /PRNewswire/ — “Cell Freezing Media Market Size, Share and Trends Analysis Report by Product (DMSO, Glycerol), by Application (Stem Cell Lines, Cancer Cell Lines), by End Use, Region and By Segment Forecasts, 2023-2030” report has been added to researchandmarkets.com gift.
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The report estimates that the global cell freezing media market is set to achieve a remarkable milestone by 2030 with an expected valuation of US$ 291.3 million. This substantial growth is estimated to be driven by a strong compound annual growth rate (CAGR) of 9.62%. From 2023 to 2030. Several key factors underpin this optimistic outlook.
One of the primary drivers of this impressive growth path is the adoption of ready-to-use freezing media. With a growing pipeline of biopharmaceuticals, this has created a surge in demand for these vital products. Additionally, the prevalence of chronic disorders and the increasing importance of cell therapy in their management has generated an attraction for effective cell freezing media.
As research and development activities are gaining momentum to develop advanced treatments, the demand for cost-effective cryopreservation media is on the rise. Ready-to-use media, known for their ability to reduce ice crystal formation during cryopreservation while maintaining cell viability, are gaining popularity among the research community. The growing popularity of biopharmaceuticals, owing to their enhanced safety and efficacy, has prompted manufacturers to invest substantially to develop advanced biopharmaceuticals for life-threatening disorders.
Rapid research and development of COVID-19 vaccines and their ongoing commercial production activities have positively influenced and encouraged biologics-based research, ultimately leading to market growth. Growing market demand, rising competition among players and diverse end-user applications have led to advancements in cell freezing media formulations, which are now available to meet custom requirements. For example, Merck KGaA’s Sigma Aldrich brand offers ready-made freezing media solutions for stem cell applications, ensuring optimal recovery and cell survival.
Significant advancements in cellular therapy research and increasing acceptance of cell therapy for various disorders have fueled strong demand in the global market. Cell freezing media play an important role in preserving cell functionality during the freezing and thawing processes, which is important for cell therapy applications. Various strategies adopted by the market participants to enhance the application of cellular therapy in the management of chronic disorders are anticipated to accelerate the expansion of the market. For example, in September 2022, Scribe Therapeutics and Sanofi announced a partnership to commercialize CRISPR-based therapies for cancer.
Growing demand for cell-based therapies and regenerative medicine: Growing interest in cell-based therapy and regenerative medicine is driving the demand for cell freezing media.
Increasing R&D spending by biopharmaceutical and biotechnology companies: Expansion of research and development budget in biopharmaceutical and biotechnology sectors is fueling the growth of the market.
Advances in cryopreservation techniques and biopreservation technologies: Ongoing advances in cryopreservation and biopreservation technologies are increasing the efficacy of cell freezing media.
Increasing prevalence of chronic diseases and genetic disorders: Due to increasing cases of chronic diseases and genetic disorders, there is a growing need for effective cell freezing solutions.
High cost associated with cryopreservation and cell freezing media: Cost implication of cryopreservation and cell freezing media is a challenge for the market growth.
Stringent regulatory requirements for cell-based products and cryopreservation systems: Strict regulatory requirements for cell-based products and cryopreservation systems may hinder market expansion.
The report includes a comprehensive analysis of the key players in the Cell Freezing Media market:
Key Features of the Market Segment:
Owing to its established reputation in conventional cryopreservation, the DMSO (dimethyl sulfoxide) segment is expected to dominate the market in 2022, accounting for 51.46% of the revenue.
Stem cell lines are the largest application segment for cell freezing media, with cancer cell lines likely to witness the fastest growth due to increasing clinical success rates of cell and gene therapy products.
Among end-use sectors, pharmaceutical and biotechnology companies will hold the largest market share (42.42%) in 2022 due to the continued growth and commercial success of biopharmaceuticals.
North America to lead the global market in 2022, driven by an expanding pipeline of biopharmaceuticals, a large pool of key players, rising demand for cell freezing media, and advanced healthcare infrastructure in a developing economy.
To know more about this report visit https://www.researchandmarkets.com/r/gm381i
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