Stem cell Cryopreservation Equipment Market Overview:
Cryopreservation is a specific process of preserving cells or complete tissues that are susceptible to damage caused by chemical reactivity and harmful enzymatic activity. The process is accomplished by keeping the stem cell materials at sub-zero temperatures wherein the activity of chemicals and enzymes stops completely. To do so specific cryopreservation equipment is used.
The Global Stem cell Cryopreservation Equipment Market is anticipated to grow from an estimated USD XX Billion in 2018 to USD XX Billion by 2021, at a CAGR of XX% from 2018 to 2021.
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Stem cell Cryopreservation Equipment Market Demand Drivers and Restraints:
Factors such as the growing demand for LNG and improving healthcare services, especially in developing economies are driving the market worldwide. In addition, increase in funding for these studies and research of stem cells would also generate the growth of this market. Medical experts are becoming increasingly inclined towards the use of bioengineered products, which are well-suited with the human body. The increase in drug manufacturing through stem cells and the increase in research and study of stem cells would augment the growth of the market. Recently, stem cells proved to be extremely helpful in treating spinal muscular atrophy. Therefore, stem cell-based drugs would help in curing such complex diseases, which would again support the growth of this market.
Regional Insights:
The continued stem cell research studies are found to be the highest among the Asian countries. It seems to be growing at faster rate (7%) compare to the world average growth in research (2.9%). Furthermore, the stem cells are used to produce the regenerative medicine and stem cell-based therapeutics and drugs. The growing stem cell research will eventually fuel the demand for cryopreservation equipment, and thereby, fuelling the global stem cell cryopreservation market in coming years.
The following manufacturers are covered in this report:
Chart, Worthington Industries, Cesca Therapeutics, Shengjie Cryogenic Equipment, Sichuan Mountain Verticalm, Qingdao Beol
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