Published: October 2023
The cryopreservation of biomaterials has tremendous potential to address the existing challenges within the pharmaceutical sector, particularly those related to the survival rate and viability of living cells and complex tissues. Therefore, in the realm of regenerative medicines, cryopreservation is recognized as a key enabling technology given its ability to preserve the structural integrity and functionality of biological samples and therapies for large-scale clinical applications.
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The current industry landscape is dominated by the presence of mid-sized companies (51-500 employees) and very large companies (more than 5,000 employees), representing close to 55% of the total cryopreservation bag and freezing bag providers. Notably, 40% of the firms are headquartered in Europe.
Majority (50%) of the cryopreservation bags and freezing bags are being used to store blood, followed by those being employed for cell culture storage (44%). Further, more than 95% of the bags can preserve samples at cryogenic temperatures (less than -65°C).
Over 40% of the cryobags are made of either ethylene vinyl acetate (EVA) or fluorinated ethylene propylene (FEP) polymer compositions. Further, 41% of single-layered cryopreservation bags and freezing bags are designed for both shipping and storing purposes.
It is worth highlighting that the annual demand for cryopreservation bags and freezing bags being used for storing biologic is projected to increase at a CAGR of 11%. Further, the current demand for cryopreservation bags and freezing bags being used for storing tissue in the US and India account for around 90%.
In terms of type of analyte stored, the current market is driven by cryobags being employed for storing blood (85%); this trend is unlikely to change in the foreseen future. In addition, the cryopreservation bags and freezing bags market in India is anticipated to grow at a faster pace (CAGR of 5%), during the forecast period 2023-2035.
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The financial opportunity associated with the cryopreservation bags and freezing bags market has been analyzed across the following segments:
The report also includes profiles of key players (listed below) offering cryopreservation bags and freezing bags; each profile features a brief overview of the company, its financial information, details on its product portfolio, recent developments and an informed future outlook.
In addition, the report also includes short profiles of cryopreservation bag and freezing bag providers (listed below).
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