The global cell cryopreservation market is valued at $11.48 billion in 2024 and is projected to reach $77.52 billion by 2034, growing at a CAGR of 21.05%. The increasing demand for cell cryopreservation in healthcare applications, driven by ongoing research, is fueling this growth.
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Cryopreservation is a process used to preserve cells by keeping biological material in a suspended state at freezing temperatures for long periods. This technique is crucial in various medical and pharmaceutical applications, including preserving hematopoietic tissue for transplantation and storing pluripotent stem cells for in vitro fertilization. Cryopreservation plays a significant role in the development of biologics, such as vaccines, by preserving cell lines. It is also vital for biotechnology, clinical testing, and research, as well as for targeted therapies like autologous stem cell therapy, which involves freezing stem cells (e.g., those taken from bone marrow) for future use.
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