Companies in the cryopreservation equipment market are focusing on strategic acquisitions to expand their product portfolio.
Strategic Acquisitions Lead to Innovations in Freezers and Bioproduction of Gene Therapies
Companies in the cryopreservation equipment market are focusing on strategic acquisitions to expand their product portfolio. For instance, BioLife - a manufacturer of cryopreservation freeze media, announced its acquisition of Custom Biogenic Solutions - a producer of cryopreservation equipment for the biotech industry, to expand its portfolio of liquid nitrogen laboratory freezers and other cryogenic equipment.
Strategic acquisitions have led to rise in investments in improving the technology of freezers. As such, freezers segment is expected to account for the highest revenue of the cryopreservation equipment market. The segment is projected to reach a value of ~US$ 3.5 Bn by the end of 2027. Companies are increasing efficacy of cloud-based monitoring systems that help in evaluating biologic sample storage conditions.
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Developments in cryogen techniques have led to innovations in liquid nitrogen laboratory freezers. As such, liquid nitrogen cryogen segment dominates the cryopreservation equipment market and is projected to reach a value of ~US$ 5.1 Bn by 2027. Companies are tapping into opportunities for the development of tools for bioproduction of cell and gene therapies.
Automated Systems in Sample-prep Support Cryo-em Analysis for Protein and Drug Discovery
The cryopreservation equipment market is witnessing innovations in advanced sample preparation systems. For instance, TTP Labtech - a manufacturer of products within sample management, announced the launch of its next-gen automated system for sample-prep. Companies are making efforts to innovate in cryogenic electron microscopy (cryo-EM) in advanced sample preparation systems. As such, sample preparation systems are projected for exponential growth in the cryopreservation equipment market.
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Innovations in sample-prep systems are paving the way for cryo-EM analysis, which is instrumental in protein research and drug discovery. High-quality foil grids in systems for cryo-EM analysis are increasingly replacing manual processes in the healthcare industry. Thus, stakeholders in biotechnology and research laboratories are benefitting from these advanced systems to assess structure of biomolecules and support protein research. Advanced sample-prep systems are pervasively replacing conventional methods of NMR (Nuclear Magnetic Resonance) and X ray crystallography. These systems offer areas for researchers to solve complex protein structures, which was not possible with conventional methods. Improved 3D imaging and high speed blot-free plunging are key attributes that are attracting research companies in the cryopreservation equipment market landscape.
Stem Cell Storage and New Cell Manufacturing Plants Create Income Sources for Companies
Emergence of new cell manufacturing plants is complementing the growth of the cryopreservation equipment market. For instance, Cellex Incorporated - a biotechnology company, announced the launch of its cell manufacturing plant in Cologne, Germany to produce advanced therapy medicinal products for cryopreservation and cell purification, among others.
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Companies in the cryopreservation equipment market are expanding their services in long-term cryo-storage of advanced therapy medicinal products. Thus, manufacturing innovative cell therapy products for cancer is beneficial for creating new income opportunities for manufacturers of cryopreservation equipment. However, growth of the stem cells industry is another driver of the cryopreservation equipment market growth. Growing awareness about stem cell storage at birth is gaining importance in the cryopreservation equipment market landscape.
Cutting-edge Sensor Technology Aids pH and Co2 Measurement in Benchtop Incubators
The cryopreservation equipment market is largely consolidated with three dominant players accounting for a combined share of ~66% of the cryopreservation equipment market. However, difficulty to establish the right culture environment and incubator conditions for laboratories and IVF clinics are some of the challenges faced by emerging players. Hence, manufacturers in the cryopreservation equipment market are increasing production capabilities to develop equipment that provide insights on pH measurement. For instance, Planer — a supplier of controlled temperature products, innovated in PetriSense®ST, a sensor that provides monitoring of pH and CO2 in benchtop incubators.
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Incubators type segment dominates the cryopreservation equipment market and is projected to reach a value of ~US$ 2.9 Bn by 2027. Hence, equipment companies are increasing technical expertise in sensor technology to support incubator applications in laboratories and IVF clinics. Portability and flexibility of petri dish-sized sensors is gaining application in laboratory equipment. Thus, manufacturers in the cryopreservation equipment market are expected to increase their scope for incremental opportunities by developing advanced sensor equipment to cater to the needs of end users in labs and clinics.
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