PUBLISHER: Grand View Research | PRODUCT CODE: 1301029
PUBLISHER: Grand View Research | PRODUCT CODE: 1301029
The global cell freezing media market size is expected to reach USD 291.3 million by 2030, according to a new report by Grand View Research, Inc. It is estimated to register a CAGR of 9.62% from 2023 to 2030, driven by increasing adoption of ready to freezing media, coupled with growing pipeline of biopharmaceuticals leading to a higher demand for these products. In addition, increasing prevalence of chronic disorders, and risen significance of cells therapies in managing them have created traction for effective cell freezing medium.
The growing research and development activities to develop advanced therapies have resulted in increased demand for the cost-effective cryopreservation medium. The ability of ready to use media to reduce the ice crystals formation while cryopreserving viable cells eventually led to its increasing adoption among research community. Furthermore, the increased popularity of biopharmaceuticals due to improved safety and efficacy has cascaded huge investments from manufacturers to develop advanced biopharmaceuticals for life-threatening disorders.
The rapid research and development of COVID-19 vaccine and its continuous commercial production activities has also positively impacted as well as encouraged the biologics-based research activities and eventually boosted the market growth. The increasing market demand, growing competition among players and various application by end users has also attributed to advancements in formulations of cell freezing media and are now even available as per custom requirements. For instance, the Sigma Aldrich brand of Merck KGaA offers freezing media solutions for stem cells application while providing optimal recovery and cells survival.
Rapid advancements in cellular therapy research and growing adoption of cell therapies in various disorders have created a robust demand in the global market. Cell freezing media has a very important role in maintaining functionality of cells during the thawing and freezing process, which is vital for cell therapies applications. In addition, various strategies undertaken by market participants to bolster applications of cellular therapies in managing chronic disorders are projected to accelerate market expansion. For instance, in September 2022, Scribe Therapeutics and Sanofi announced partnership to commercialize CRISPR based therapies for cancer.