Europe Cryopreservation Equipment Market

The cryopreservation equipment market in Europe is expected to grow from US$ 1,459.67 million in 2022 to US$ 2,803.97 million by 2028; it is estimated to grow at a CAGR of 11.5% from 2022 to 2028.  

Increasing demand for biobanking practices is the major factor driving the growth of the Europe cryopreservation equipment market. Biobanks are developed extensively for preserving biological materials, including human biologics, plants, animals, and microbes, for medical research, drug development, agriculture, and ecology. In the past few years, the demand for cryopreservation equipment has increased among biotechnology and pharmaceutical manufacturers, contract research organizations, stem cell banks, and stem cell research laboratories. These end users contribute to developing biomarker detection, molecular diagnosis, translational medicine, and multidisciplinary disease research.

In addition, biobanks can also be stored in biomaterials used to study the interactions between genetic and environmental or lifestyle factors. They require cryopreservation equipment to store umbilical cord blood as a source of hematopoietic stem and progenitor cells; cancerous tissue samples; semen for artificial insemination; oocytes and embryos for in-vitro fertilization (IVF); and plant seeds/shoots for breeding. Furthermore, the COVID-19 pandemic triggered the research and development activities for effective diagnostics and therapeutic approaches, which is adding to the requirement of biobanks.

Biobank Graz, Shanghai Zhangjiang Biobank, “All of Us” Biobank, International Agency for Research on Cancer (IARC) Biobank (IBB), China Kadoorie Biobank, UK Biobank, FINNGEN biobanks, Canadian Partnership for Tomorrow Project Biobank, EuroBioBank network, and Qatar Biobank are among the leading biobanks across the world. They are part of national government-funded studies regarding population health. Apart from the listed biobanks, various other biobanks owned by private and public entities across all regions require cryopreservation equipment and accessories in large volumes.

With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the Europe cryopreservation equipment market. The Europe cryopreservation equipment market is expected to grow at a good CAGR during the forecast period.

Europe Cryopreservation Equipment

Market Revenue and Forecast to 2028 (US$ Million)

Europe Cryopreservation Equipment Market Segmentation   

Europe cryopreservation equipment market is segmented into type, cryogen type, application, end user, and country. Based on type, the cryopreservation equipment market is segmented into freezers, sample preparation systems, and accessories. The freezers segment is expected to lead the market in 2022. Based on the cryogen type, the Europe cryopreservation equipment market is segmented into liquid nitrogen, oxygen, liquid helium, argon, and others. In 2022, the liquid nitrogen segment is likely to hold the largest share of the market. The Europe cryopreservation equipment market, based on application, is segmented into cord blood stem cells, sperms, semen & testicular tissues, embryos and oocytes, cell and gene therapies, and others. The cord blood stem cells segment is likely to hold the largest share of the market in 2022. The Europe cryopreservation equipment market, based on end user, is segmented into stem cell banks, biotechnology and pharmaceuticals organizations, stem cell research laboratories, and others. The biotechnology and pharmaceuticals organizations segment is expected to hold the largest market share in 2022. On the basis of country, the market is segmented into France, Germany, Italy, the UK, Russia, and the Rest of Europe. Germany is expected to hold the largest share of the market in 2022.  

Antech Group Inc.; Avantor, Inc.; BioLife Solutions; Brooks Automation, Inc; Cryofab; Cryoport Systems, LLC.; Danaher Corporation; Gold Sim Cellular Science LLC; Hamilton Company; PHC Holdings Corporation; Thermo Fisher Scientific Inc.; and ZhongkeMeiling Cryogenics Company Limited are among the leading companies in the Europe cryopreservation equipment market.