July 14, 2020
According to the research report titled ‘Global Cryopreservation Media Market Size study with COVID-19 impact, by Type (Serum-Free and With Serum), by Application (Pharmaceutical & Biotechnology Companies and Academic & Research Institutions) and Regional Forecasts 2020-2026’, available with Market Study Report LLC, global cryopreservation media market is expected to amass tremendous growth during 2020-2026.
Cryopreservation media is designed to conserve and protect cells at low temperature and minimize the risk of cell infections from microbes and other types of cells. The product provides a safe environment for tissues and cells while they are undergoing storage, freezing and thawing processes. Cryopreservation is extensive incorporated in regenerative medication and cell therapy to preserve the cells from getting exposed to infections and microwaves efficiently during transfer from donor to patients. Hence, rising popularity of cell therapy worldwide is expected to drive the cryopreservation media market over the forecast years. Furthermore, increasing financing in tissue engineering and cell therapy will propel the market growth. Although, strict regulations on cryopreservation media may restrain the market growth to some extent.
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With respect to the type, cryopreservation media market is divided into serum-free and with serum. Based on application spectrum, the industry is segmented into academic & research institutions and pharmaceutical & biotechnology companies.
As per the regional overview, global cryopreservation media market is categorized into North America, Latin America, Asia Pacific, Europe, and rest of the world. North America held a significant market share in the recent past due to fast growth in cell therapy field and adoption of regenerative medicines in the region.
Meanwhile, Asia-Pacific cryopreservation media market is anticipated to witness strong CAGR over 2020-2026. Supportive government norms regarding cell therapy and regenerative medicines will create lucrative growth opportunities for Asia-Pacific market.
Key players operating in global cryopreservation media market include ZENOAQ, Nippon Genetics Co. Ltd., STEMCELL Technologies Inc., Thermo Fisher Scientific, BioLife Solutions, Bio-Techne Corporation, Biological Industries, Merck & Co. Inc., GE Healthcare, and Lonza Group among others.