Cryopreservation Equipment Market Research Report and Outlook by 2028

The cryopreservation equipment market is projected to grow significantly, reaching an estimated US$ 12,489.84 million by 2028, up from US$ 6,358.65 million in 2022. This growth represents a compound annual growth rate (CAGR) of 11.9% from 2022 to 2028.

Several factors are driving this market expansion, including the increasing acceptance of regenerative medicine and the rising demand for biobanking practices. However, the growth of the cryopreservation equipment market is somewhat constrained by stringent regulatory requirements.

Cryopreservation is a vital technique used to reduce cellular damage during the freezing and storage of biological materials, which can include tissues, bacteria, fungi, viruses, and mammalian cells. The preservation of tissues and genetically stable living cells through cryopreservation allows for their use in research and various biomedical applications. The necessary equipment for cryopreservation encompasses cryopreservation systems, cryoware, accessories, and cryogens.

This technique is particularly crucial in regenerative medicine, as it enables the secure and stable storage of cells and related components for extended periods. Regenerative medicine aims to restore the normal function of damaged or diseased cells, tissues, and organs, often through stem cell therapy. With advancements in medical technology, stem cell therapy is increasingly viewed as a viable alternative to traditional drug therapies for treating a variety of chronic conditions, such as diabetes and neurodegenerative diseases. Notably, the U.S. Food and Drug Administration (FDA) has approved blood-forming stem cells, also known as hematopoietic progenitor cells, derived from umbilical cord blood. The growing number of approvals for stem cell and gene therapies is driving the demand for cryopreservation equipment.

Here are some notable examples of FDA-approved stem cell and gene therapies:

• In February 2021, Bristol Myers Squibb (Juno Therapeutics, Inc.) received FDA approval for Breyanzi, a CD19-directed chimeric antigen receptor T-cell (CAR-T) therapy for adults with relapsed or refractory large B-cell lymphoma.


• In March 2021, Novartis AG gained approval from the Health Sciences Authority of Singapore for Kymriah, the first CAR-T therapy, which is designed as a one-time treatment tailored for each patient under the new cell, tissue, and gene therapy products (CTGTP) regulatory framework.


• In July 2020, Kite, a Gilead Company, received FDA approval for Tecartus (formerly KTE-X19), a CAR-T cell therapy for adult patients with relapsed or refractory mantle cell lymphoma (MCL).


• In May 2019, Vericel Corporation was approved for MACI, which involves autologous cultured chondrocytes on a porcine collagen membrane.


• In December 2017, Spark Therapeutics received FDA approval for Luxturna, a one-time gene therapy for patients with confirmed biallelic RPE65 mutation-associated retinal dystrophy.

Type Insights

The global cryopreservation equipment market is categorized by type into freezers, sample preparation systems, and accessories. In 2021, the freezers segment dominated the market and is anticipated to exhibit the highest CAGR from 2022 to 2028. Ultracold freezers utilize liquid nitrogen to effectively preserve more complex biological structures by halting all biological activities.

Cryogen Type Insights

Regarding cryogen types, the market is divided into liquid nitrogen, oxygen, liquid helium, argon, and others. In 2021, liquid nitrogen held the largest market share, and this segment is expected to experience the highest growth rate during the forecast period. Liquid nitrogen serves as a non-mechanical preservation method, utilizing large thermos-like containers to store racks or shelves that hold cryogenic vials.

Application Insights

The cryopreservation equipment market is also segmented by application, including cord blood stem cells, sperm, semen and testicular tissues, embryos and oocytes, cell and gene therapies, among others. In 2020, the cord blood stem cells segment was the largest, while the sperm segment is projected to grow at the highest CAGR from 2022 to 2028. Recently, public cord banking has gained traction over private options, with various centers worldwide performing cord blood stem cell transplants to manage genetic, hematologic, immunologic, metabolic, and oncologic disorders, thereby enhancing the public cord banking segment's growth.

End User Insights

The market is segmented by end user into stem cell banks, biotechnology and pharmaceutical companies, stem cell research laboratories, and others. The biotechnology and pharmaceutical segment held the largest market share in 2020 and is expected to maintain its leading position by 2028. Cryopreservation is integral to the manufacturing processes of many cellular therapies, often preceding cell culture by preserving the initial cellular material before large-scale production and typically following cell expansion.

Key sources referenced in the preparation of this report on the global cryopreservation equipment market include the U.S. Food and Drug Administration (FDA), International Agency for Research on Cancer (IARC), U.S. Society of Assisted Reproductive Technology (SART), Centre for Reproductive & Genetic Health (CRGH), European Society of Human Reproduction and Embryology (ESHRE), China's State Food and Drug Administration (SFDA), Chinese National Health and Family Planning Commission (NHFPC), Japan's Ministry of Education, Culture, Sports, Science, and Technology (MEXT), All India Institute of Medical Sciences (AIIMS), Indian Council of Medical Research (ICMR), International Stem Cell Corporation (ISCO), Global Stem Cell & Regenerative Medicine Acceleration Center (GSRAC), King Abdullah International Medical Research Center (KAIMRC), and Dubai Health Authority (DHA).