San Francisco, California, November 14, 2018: A recent market research report by TMR Research estimates that the global cryopreservation equipment market will benefit from the widening set of applications of these equipment, especially in the field of stem cell research and development. The report is titled “Cryopreservation Equipment Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2025.”
The market has also benefitted from the vast advancements seen in freezing technologies aimed specifically at the medical and biosciences industries and the presence of several product varieties in the market. Increased interest of research bodies in bioengineered products owing to their potential benefits in treating a vast variety of conditions ranging from cardiovascular diseases to cancer is also working well for the global cryopreservation equipment market.
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On the flipside, the market is likely to be challenged by factors such as a visible dearth of skilled workforce necessary for handling these equipment and the potential dangers of even a minute slip in handling these equipment to the life of the handling personnel. Moreover, concerns associated with the use of some toxic salts in these equipment also hamper the prospects of people taking interest in the field as a prospective profession. Nevertheless, the promising expansion of industries such as biotechnology, pharmaceutical, and contract research outsourcing are likely to help market stay lucrative.
From a geographical standpoint, the markets in Europe and North America are highly lucrative for cryopreservation equipment owing to the vast set of applications and the well-established pharmaceutical and bio-sciences industries. Increased focus on the use of stem cells for devising effective cures for a number of chronic diseases in these regions also strengthen the position of the cryopreservation equipment market. The market in Asia Pacific is steadily emerging as a highly lucrative regional market owing to the rapidly rising numbers of contract research organizations.
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Some of the leading companies operating in the market are Advanced Cell Technology, Inc., Praxair Technology, Inc., Angioblast Systems, Inc., Thermo Fisher Scientific, Inc., Aastrom Biosciences, Inc., Cryologic Pty. Ltd., Boehringer Ingelheim, Gmbh, Cell Therapeutics, Inc., and Millipore Corporation.