Global Cryogenic Storage Equipment in Healthcare Market Overview:

According to MarkNtel Advisors study the Global Cryogenic Storage Equipment in Healthcare Market size is valued at around USD 2.01 billion in 2023 and is estimated to grow at a CAGR of about 8.01% during the forecast period, i.e., 2024-29. The increasing need for regenerative medicine in addressing chronic diseases like cancer, diabetes, and dialysis is a key driver propelling the market growth. This surge is primarily attributed to the preservation of crucial resources such as blood cords & stem cells, essential for treating these diseases, which necessitate storage at extremely low temperatures to maintain the authenticity of the treatment.

Key Findings of the Study: Cryogenic Storage Equipment in Healthcare market

Global Cryogenic Storage Equipment in Healthcare Market Opportunity

Advancing Novel Cell-based Therapies Creating Opportunities for Manufacturers – The emergence of novel cell-based therapies in the market presents a significant opportunity for cryogenic storage providers. Pharmaceutical & biotechnology companies are actively developing therapies for treating chronic diseases like cancer. For instance, in 2023, Bayer initiated phase 2 of a clinical trial for a cell therapy aimed at treating Parkinson's disease following the successful completion of their early-stage study.

In anticipation of this demand, many cryogenic storage manufacturing companies are preparing to meet these upcoming storage needs. As the healthcare industry continues to innovate and develop advanced cell-based treatments, the role of cryogenic storage in supporting these therapies becomes increasingly vital in the future, thus enhancing the Cryogenic Storage Equipment in Healthcare Market size.

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Scope of the Cryogenic Storage Equipment in Healthcare Market Report Segmentation

-By Type

• Blood Refrigerators- Market Size & Forecast 2019-2029, (USD Million)
• Medical Freezers- Market Size & Forecast 2019-2029, (USD Million)
• Medical Cryopreservation Box- Market Size & Forecast 2019-2029, (USD Million)
• Liquid Nitrogen Tank -Market Size & Forecast 2019-2029, (USD Million)
• Others- Market Size & Forecast 2019-2029, (USD Million)

-By Temperature Range

• Low-temperature (-500C to -1500C)- Market Size & Forecast 2019-2029, (USD Million)
• Ultra Low-temperature (Below -1500C)- Market Size & Forecast 2019-2029, (USD Million)

-By Equipment

• Tanks- Market Size & Forecast 2019-2029, (USD Million)
• Valves- Market Size & Forecast 2019-2029, (USD Million)
• Vaporizers- Market Size & Forecast 2019-2029, (USD Million)
• Pumps- Market Size & Forecast 2019-2029, (USD Million)
• Others- Market Size & Forecast 2019-2029, (USD Million)

-By End User

• Hospitals- Market Size & Forecast 2019-2029, (USD Million)
• Medical Testing Centers - Market Size & Forecast 2019-2029, (USD Million)
• Disease Control & Prevention Centers- Market Size & Forecast 2019-2029, (USD Million)
• Biopharmaceutical- Market Size & Forecast 2019-2029, (USD Million)
• Others- Market Size & Forecast 2019-2029, (USD Million)

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Geographical analysis:

-By Region

• North America
• South America
• Europe
• The Middle East & Africa
• Asia-Pacific

The Asia-Pacific region is expected to dominate the Cryogenic Storage Equipment in Healthcare Market. The demand for cryogenic storage is driven by its burgeoning healthcare sector, the presence of significant industrial activities, and proactive government initiatives, making it the epicenter of growth.

The presence of major steel-producing nations like Japan, China, India, and South Korea contributes significantly to the region's market expansion. For instance, according to the World Steel Association, the Asia region produced nearly 1,351.1 metric tons of steel in 2022, the highest as compared to other regions globally.

Furthermore, strategic collaborations between governments & cryogenic storage manufacturers have led to the establishment of manufacturing plants within the region. This not only ensures a consistent supply of cryogenic storage equipment but also supports the local economy & reduces import dependencies.

Global Cryogenic Storage Equipment in Healthcare Industry Recent Development

• 2022: Thermofisher Scientific launched new integrated packaging, distribution services, this end-to-end solution combines cryogenic & cold chain logistics, serialization compliance, and global distribution for cell & gene therapy innovators.
• 2023: PHC Corporation launched PHCbi Brand VIP ECO SMART ultra-low temperature freezer series for use in facilities, including medical institutions, universities, and pharmaceutical companies

Current Landscape of Cryogenic Storage Equipment in Healthcare Market

The report delineates key market participants and thoroughly assesses their strategic approaches, trends, innovations, and manufacturing infrastructure, enabling a forecast of their market impact over the next five years. The meticulously researched data presented holds the potential to distinguish even nascent market entrants in the long term. Armed with pertinent data and actionable insights, our research report delivers a comprehensive overview of the market, empowering investors and stakeholders to establish a robust presence in the Cryogenic Storage Equipment in Healthcare market. The research report profiles major players, including

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• Thermofisher Scientific Inc.
• PHC Corporation
• Vestfrost Solutions
• B Medical System
• Arctiko
• Haier Biomedical
• Eppendorf
• Helmer Scientific
• So-Low Environmental Equipment Co.
• Kirsch Medical
• LabCold
• Bioway Corporation
• Aucma International
• Lec Medical
• Felix Storch
• Others

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