Cryopreservation Equipment Market Size, Share, and Analysis by 2028

Historic Data: 2020-2021   |   Base Year: 2022   |   Forecast Period: 2023-2028

Cryopreservation Equipment Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Freezers, Sample Preparation Systems, and Accessories), Cryogen Type (Liquid Nitrogen, Oxygen, Liquid Helium, Argon, and Others), Application (Cord Blood Stem Cells, Sperms, Semen, & Testicular Tissues, Embryos & Oocytes, Cell & Gene Therapies, and Others), and End User (Stem Cell Banks, Biotechnology & Pharmaceutical Organizations, Stem Cell Research Laboratories, and Others)

  • Report Date : May 2022
  • Report Code : TIPRE00023243
  • Category : Life Sciences
  • Status : Published
  • Available Report Formats : pdf-format excel-format
  • No. of Pages : 240

The cryopreservation equipment market is projected to reach US$ 12,489.84 million by 2028 from US$ 6,358.65 million in 2022; it is expected to grow at a CAGR of 11.9% from 2022 to 2028.  

Cryopreservation is a technique employed to minimize cell damage caused during freezing and storage of biological materials such as tissue, bacteria, fungi, virus, and mammalian cells. Tissues and genetically stable living cells preserved via cryopreservation can be used in research and other biomedical applications. The equipment required for cryopreservation includes cryopreservation systems, cryoware, accessories, and cryogen.

The cryopreservation equipment market is segmented on the bases of type, cryogen type, application, end user, and geography. By geography, the market is broadly segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. The report offers insights and in-depth analysis of the market, emphasizing on parameters such as market trends, technological advancements, and market dynamics, along with the analysis of competitive landscape of the globally leading market players.  

Customize This Report To Suit Your Requirement

You will get customization on any report - free of charge - including parts of this report, or country-level analysis, Excel Data pack, as well as avail great offers and discounts for start-ups & universities

Cryopreservation Equipment Market: Strategic Insights

cryopreservation-equipment-market
  • Get Top Key Market Trends of this report.
    This FREE sample will include data analysis, ranging from market trends to estimates and forecasts.

Market Insights
Growing Acceptance for Regenerative Medicine Drives Cryopreservation Equipment Market Growth

Cryopreservation plays an important part in the field of regenerative medicine as it facilitates stable and secure storage of cells and other related components for a prolonged time. Regenerative medicine enables replacing diseased or damaged cells, tissues, and organs by retrieving their normal function through stem cell therapy. Owing to the advancements in the medical technology, stem cell therapy is now being considered as an alternative to traditional drug therapies in the treatment of a wide range of chronic diseases, including diabetes and neurodegenerative diseases. Moreover, the US Food and Drug Administration (FDA) has approved blood-forming stem cells. The blood-forming stem cells are also known as hematopoietic progenitor cells that are derived from umbilical cord blood. The growing approvals for stem cell and gene therapies are eventually leading to the high demand for cryopreservation equipment. Following are a few instances of stem cell and gene therapies approved by the FDA and other regulatory bodies.

  • In February 2021, Bristol Myers Squibb (Juno Therapeutics, Inc.) received an FDA approval for Breyanzi, a CD19-directed chimeric antigen receptor T-cell (CAR-T) therapy. The CAR-T cell therapy is used for treating relapsed or refractory large B-cell lymphoma in adults.
  • In March 2021, Novartis AG received approval from the Health Sciences Authority of Singapore for the commercialization of the first CAR-T therapy named Kymriah, which is claimed as a one-time treatment procedure run individually for each patient. The therapy was approved under the new cell, tissue, and gene therapy products (CTGTP) regulatory framework.
  • In July 2020, Kite, a Gilead Company, received an approval from the US FDA for its Tecartus (formerly known as KTE-X19) CAR-T cell therapy. The therapy is designed for the treatment of adult patients with relapsed or refractory mantle cell lymphoma (MCL).
  • In May 2019, Vericel Corporation received an approval for its MACI (autologous cultured chondrocytes on porcine collagen membrane).
  • In December 2017, Spark Therapeutics received an approval from the US FDA for Luxturna. It is a one-time gene therapy product for the treatment of patients with confirmed biallelic RPE65 mutation-associated retinal dystrophy.

Increasing Need of Biobanking Practices Contributes Significantly to Market Growth

Biobanks are developed extensively for the preservation of biological materials, including human biologics, plants, animals, and microbes, for medical research, drug development, agriculture, and ecology. The demand for cryopreservation equipment has increased among biotechnology and pharmaceutical manufacturers, contract research organizations, stem cell banks, and stem cell research laboratories in the past few years. These end users contribute to the development of biomarker detection, molecular diagnosis, translational medicine, and multidisciplinary disease research. In addition, biomaterials used to study the interactions between genetic and environmental or lifestyle factors can also be stored biobanks. They require cryopreservation equipment to store umbilical cord blood as a source of hematopoietic stem and progenitor cells; cancerous tissue samples; semen for artificial insemination; oocytes and embryos for in-vitro fertilization (IVF); and plant seeds/shoots for breeding. Furthermore, the COVID-19 pandemic has triggered the research and developments activities for effective diagnostics and therapeutic approaches, which is adding to the requirement of biobanks.

Biobank Graz, Shanghai Zhangjiang Biobank, “All of Us” Biobank, International Agency for Research on Cancer (IARC) Biobank (IBB), China Kadoorie Biobank, UK Biobank, FINNGEN biobanks, Canadian Partnership for Tomorrow Project Biobank, EuroBioBank network, and Qatar Biobank are among the leading biobanks across the world. They are part of national government-funded studies regarding population health. Apart from the listed biobanks, various other biobanks owned by private and public entities across all regions require cryopreservation equipment and accessories in large volumes.

Type Insights

Based on type, the global cryopreservation equipment market is segmented into freezers, sample preparation systems, and accessories. In 2020, the freezers segment held the largest share of the market, and it is further expected to register the highest CAGR during 2022–2028. In ultracold freezers, liquid nitrogen is used for the successful preservation of more complex biological structures by virtually seizing all biological activities.   

Cryogen Type Insights

Based on cryogen type, the global cryopreservation equipment market is segmented into liquid nitrogen, oxygen, liquid helium, argon, and others. In 2020, the liquid nitrogen segment held the largest share of the market, and it is further expected to grow at the highest CAGR during 2022–2028. Liquid nitrogen is a nonmechanical method of cells preservation. Large thermos-like containers are used to house either racks or shelves that hold cryogenic vials.

Application Insights

Based on application, the global cryopreservation equipment market is segmented into cord blood stem cells, sperms, semen & testicular tissues, embryos and oocytes, cell and gene therapies, and others. In 2020, the cord blood stem cells segment held the largest share of the market. Moreover, the market for the sperms segment is expected to register the highest CAGR in the market during 2022–2028. In recent years, public cord banking has been promoted over private cord banking. Various centers across the world are performing cord blood stem cell transplantation as a part of the management of genetic, hematologic, immunologic, metabolic, and oncologic disorders, among others, which is bolstering the growth of the market for the public cord banking segment.

End User Insights

Based on end user, the cryopreservation equipment market is segmented into stem cell banks, biotechnology and pharmaceuticals organizations, stem cell research laboratories, and others. The biotechnology and pharmaceuticals organizations segment held the largest market share in 2020, and it is further expected to be the largest shareholder in the market by 2028. Cryopreservation has become an integral part of the manufacturing process of many cellular therapies as it is, sometimes, performed as a step preceding the cell culture (preservation of starting cellular material before beginning large-scale manufacturing) and generally follows cell expansion.

Product launches, and mergers and acquisitions are the highly adopted strategies by the players operating in the global cryopreservation equipment market. A few of the recent key product developments are listed below:

  • In May 2021, Stirling Ultracold has been acquired by BioLife Solutions, Inc for cell and gene therapies and the broader biopharma market. In return for all of Stirling's outstanding shares, BioLife issued 6,646,870 shares of ordinary stock.
  • In December 2019, PHC Corporation launched new ultralow-temperature MDF-DU901VHL (large 900 liters class) with newest cabinet design and intuitive LCD display control in ECO version.

The COVID-19 pandemic has had a mixed impact on the cryopreservation equipment market. Restricted access to family planning services as well as diverted focus of people due to economic uncertainties and recession, and disturbed work-life balance have led to rise in egg and embryo freezing activities at fertility clinics during the pandemic. As a result, the rising use of cryopreservation equipment is boosting the market growth. Furthermore, supply chain disruption caused due to congestion of ports and disturbances in other transport means has substantially affected the distribution of cryopreservation equipment and other accessories.  

Cryopreservation Equipment Market Regional Insights

The regional trends and factors influencing the Cryopreservation Equipment Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Cryopreservation Equipment Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

cryopreservation-equipment-market-global-geography
  • Get the Regional Specific Data for Cryopreservation Equipment Market

Cryopreservation Equipment Market Report Scope

Report Attribute Details
Market size in 2022 US$ 6.36 Billion
Market Size by 2028 US$ 12.49 Billion
Global CAGR (2022 - 2028) 11.9%
Historical Data 2020-2021
Forecast period 2023-2028
Segments Covered By Type
  • Freezers
  • Sample Preparation Systems
  • Accessories
By Cryogen Type
  • Liquid Nitrogen
  • Oxygen
  • Liquid Helium
  • Argon
By Application
  • Cord Blood Stem Cells
  • Sperms
  • Semen
  • & Testicular Tissues
  • Embryos & Oocytes
  • Cell & Gene Therapies
By End User
  • Stem Cell Banks
  • Biotechnology & Pharmaceutical Organizations
  • Stem Cell Research Laboratories
Regions and Countries Covered North America
  • US
  • Canada
  • Mexico
Europe
  • UK
  • Germany
  • France
  • Russia
  • Italy
  • Rest of Europe
Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
South and Central America
  • Brazil
  • Argentina
  • Rest of South and Central America
Middle East and Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East and Africa
Market leaders and key company profiles
  • Thermo Fisher Scientific Inc.
  • Gold Sim Cellular Science LLC
  • Brooks Automation, Inc
  • Avantor, Inc.
  • Hamilton Company
  • PHC Holdings Corporation
  • Danaher Corporation
  • Cryoport Systems, LLC.
  • Antech Group Inc.

  • Cryopreservation Equipment Market Players Density: Understanding Its Impact on Business Dynamics

    The Cryopreservation Equipment Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

    Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

    Major Companies operating in the Cryopreservation Equipment Market are:

    1. Thermo Fisher Scientific Inc.
    2. Gold Sim Cellular Science LLC
    3. Brooks Automation, Inc
    4. Avantor, Inc.
    5. Hamilton Company

    Disclaimer: The companies listed above are not ranked in any particular order.


    cryopreservation-equipment-market-cagr

    • Get the Cryopreservation Equipment Market top key players overview

    Cryopreservation Equipment Market - Segmentation

    By type, the cryopreservation equipment market is segmented into freezers, sample preparation systems, and accessories. The cryopreservation equipment market based on the cryogen type is segmented into liquid nitrogen, oxygen, liquid helium, argon, and others. Based on application, the cryopreservation equipment market is segmented into cord blood stem cells, sperms, semen & testicular tissues, embryos and oocytes, cell and gene therapies, and others. Based on end user, the cryopreservation equipment market is segmented into stem cell banks, biotechnology & pharmaceuticals organizations, stem cell research laboratories, and others.  By geography, the market is segmented into North America (the US, Canada, and Mexico), Europe (the UK, Germany, France, Italy, Spain, and the Rest of Europe), Asia Pacific (China, Japan, India, Australia, South Korea, and the Rest of Asia Pacific), the Middle East & Africa (the UAE, Saudi Arabia, South Africa, and the Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America). Prominent players operating in the cryopreservation equipment market include Thermo Fisher Scientific Inc., Gold Sim Cellular Science LLC, Brooks Automation, Inc, Avantor, Inc., Hamilton Company, PHC Holdings Corporation, Danaher Corporation, Cryoport Systems, LLC., Antech Group Inc., Cryofab, BioLife Solutions, and ZhongkeMeiling Cryogenics Company Limited.


    Frequently Asked Questions

    What is the regional market scenario of cryopreservation equipment?

    Global cryopreservation equipment market is segmented by region into North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America. The North American region holds the largest market share of the market, whereas the Asia Pacific region is the fastest-growing region. The growth factors that are contributing to market’s growth in the North American region are growing developments in the medical devices industry, increasing domestic production in countries such as Canada and Mexico, increasing demand for In Vitro Fertilization (IVF) procedures in recent years, technological advancements, and growth of the stem cells industry.

    What are the driving factors for the cryopreservation equipment market across the globe?

    Key factors driving the growth of the market are growing acceptance for regenerative medicine and increasing needs of biobanking practices are boosting the market. However, stringent regulatory requirements for equipment, reagents, cryogens, disposables, and consumables are likely to hinder the market’s growth.

    What is cryopreservation equipment?

    Cryopreservation is a technique to minimize cell damage through temperature freezing and storage to biological materials such as tissue, bacteria, fungi, virus, and mammalian cells. Cryopreservation provides a continuous source of tissues and genetically stable living cells that can be used for various applications such as research and biomedical processes. The equipment required for cryopreservation includes cryopreservation systems, cryoware, accessories, and cryogen.

    Which segment is dominating the cryopreservation equipment market?

    The cryopreservation equipment market, by type, is bifurcated into freezers, sample preparation systems, and accessories. In 2021, the freezer segment held the largest share of the market. The freezer segment of the cryopreservation equipment market is expected to witness growth in its demand at the fastest CAGR during the forecast period.

    Who are the major players in market the cryopreservation equipment market?

    The cryopreservation equipment market majorly consists of the players such as Thermo Fisher Scientific Inc., Gold Sim Cellular Science LLC, Brooks Automation, Inc, Avantor, Inc., Hamilton Company, PHC Holdings Corporation, Danaher Corporation, Cryoport Systems, LLC., Antech Group Inc., Cryofab, BioLife Solutions, and ZhongkeMeiling Cryogenics Company Limited amongst others.

    Mrinal Kerhalkar
    Mrinal Kerhalkar
    Manager,
    Market Research & Consulting

    Mrinal is a seasoned research analyst with over 8 years of experience in Life Sciences Market Intelligence and Consulting. With a strategic mindset and unwavering commitment to excellence, she has built deep expertise in pharmaceutical forecasting, market opportunity assessment, and developing industry benchmarks. Her work is anchored in delivering actionable insights that empower clients to make informed strategic decisions.

    Mrinal’s core strength lies in translating complex quantitative datasets into meaningful business intelligence. Her analytical acumen is instrumental in shaping go-to-market (GTM) strategies and uncovering growth opportunities across the pharmaceutical and medical device sectors. As a trusted consultant, she consistently focuses on streamlining workflow processes and establishing best practices, thereby driving innovation and operational efficiency for her clients.

    • Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
    • PEST and SWOT Analysis
    • Market Size Value / Volume - Global, Regional, Country
    • Industry and Competitive Landscape
    • Excel Dataset

    Testimonials

    user

    I wish to appreciate your support and the professionalism you displayed in the course of attending to my request for information regarding to infectious disease IVD market in Nigeria. I appreciate your patience, your guidance, and the fact that you were willing to offer a discount, which eventually made it possible for us to close a deal. I look forward to engaging The Insight Partners in the future, all thanks to the impression you have created in me as a result of this first encounter.

    DR CHIJIOKE ONYIA, MANAGING DIRECTOR, PineCrest Healthcare Ltd.
    user

    The Insight Partners delivered insightful, well-structured market research with strong domain expertise. Their team was professional and responsive throughout. The user-friendly website made accessing industry reports seamless. We highly recommend them for reliable, high-quality research services

    Yukihiko Adachi CEO, Deep Blue, LLC.

    Reason to Buy

    • Informed Decision-Making
    • Understanding Market Dynamics
    • Competitive Analysis
    • Customer Insights
    • Market Forecasts
    • Risk Mitigation
    • Strategic Planning
    • Investment Justification
    • Identifying Emerging Markets
    • Enhancing Marketing Strategies
    • Boosting Operational Efficiency
    • Tracking Industry Innovations
    • Aligning with Regulatory Trends
    Your Key Concerns Addressed - Question & Answer
    Can I view a sample of the report before purchasing?

    Yes! We provide a free sample of the report, which includes Report Scope (Table of Contents), report structure, and selected insights to help you assess the value of the full report. Please click on the "Download Sample" button or contact us to receive your copy.

    Is analyst support included with the purchase?

    Absolutely — analyst assistance is part of the package. You can connect with our analyst post-purchase to clarify report insights, methodology or discuss how the findings apply to your business needs.

    What are the next steps once I place an order?

    Once your order is successfully placed, you will receive a confirmation email along with your invoice.

    • For published reports: You’ll receive access to the report within 4–6 working hours via a secured email sent to your email.
    • For upcoming reports: Your order will be recorded as a pre-booking. Our team will share the estimated release date and keep you informed of any updates. As soon as the report is published, it will be delivered to your registered email.

    Can the report be tailored to suit my specific needs?

    We offer customization options to align the report with your specific objectives. Whether you need deeper insights into a particular region, industry segment, competitor analysis, or data cut, our research team can tailor the report accordingly. Please share your requirements with us, and we’ll be happy to provide a customized proposal or scope.

    In what format is the report delivered?

    The report is available in either PDF format or as an Excel dataset, depending on the license you choose.

    The PDF version provides the full analysis and visuals in a ready-to-read format. The Excel dataset includes all underlying data tables for easy manipulation and further analysis.
    Please review the license options at checkout or contact us to confirm which formats are included with your purchase.

    How secure is the payment process on your platform?

    Our payment process is fully secure and PCI-DSS compliant.

    We use trusted and encrypted payment gateways to ensure that all transactions are protected with industry-standard SSL encryption. Your payment details are never stored on our servers and are handled securely by certified third-party processors.
    You can make your purchase with confidence, knowing your personal and financial information is safe with us.

    Do you provide special pricing for buying multiple reports?

    Yes, we do offer special pricing for bulk purchases.
    If you're interested in purchasing multiple reports, we’re happy to provide a customized bundle offer or volume-based discount tailored to your needs. Please contact our sales team with the list of reports you’re considering, and we’ll share a personalized quote.

    Can I connect with your team to discuss the report before buying?

    Yes, absolutely.
    Our team is available to help you make an informed decision. Whether you have questions about the report’s scope, methodology, customization options, or which license suits you best, we’re here to assist. Please reach out to us at sales@theinsightpartners.com, and one of our representatives will get in touch promptly.

    Will I get a billing invoice upon purchase?

    Yes, a billing invoice will be automatically generated and sent to your registered email upon successful completion of your purchase.
    If you need the invoice in a specific format or require additional details (such as company name, GST, or VAT information), feel free to contact us, and we’ll be happy to assist.

    Is there support available if I can’t access my report?

    Yes, certainly.
    If you encounter any difficulties accessing or receiving your report, our support team is ready to assist you. Simply reach out to us via email or live chat with your order information, and we’ll ensure the issue is resolved quickly so you can access your report without interruption.

    Our Clients

    The List of Companies - Cryopreservation Equipment Market

    1. Thermo Fisher Scientific Inc.
    2. Gold Sim Cellular Science LLC
    3. Brooks Automation, Inc
    4. Avantor, Inc.
    5. Hamilton Company
    6. PHC Holdings Corporation
    7. Danaher Corporation
    8. Cryoport Systems, LLC.
    9. Antech Group Inc.
    10. Cryofab
    11. BioLife Solutions
    12. ZhongkeMeiling Cryogenics Company Limited
    Sales Assistance
    US: +1-646-491-9876
    UK: +44-20-8125-4005
    Email: sales@theinsightpartners.com
    Chat with us
    DUNS Logo
    87-673-9708
    ISO Certified Logo
    ISO 9001:2015
    ISO Certified Logo