Cryopreservation is the process of preserving cells or complete tissues that are susceptible to damage caused by chemical reactivity and harmful enzymatic activity. This process is accomplished by keeping these materials at sub-zero temperatures wherein the activity of chemicals and enzymes stops. This process is performed in an apparatus known as cryopreservation equipment. Cryopreservation equipment include drystore freezers, mechanical freezers, cryopreservation freezers, cryopreservation vials, incubators and stem cell research laboratory equipment. These equipment parts help in completing the process of cryopreservation by providing stable cryogenic storage for biological specimens. The ultra low temperatures attained using these equipment is maintained by the use of certain amount of liquid nitrogen.
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Increase in research and study of stem cells would augment the growth of cryopreservation equipment. In addition, increase in funding for these studies and research of stem cells would also trigger the growth of this market. In 2013, the government of Japan funded around USD 1.12 billion for stem cell studies. Moreover, advancement in technologies may also boost the growth of this market. Medical experts are becoming increasingly inclined towards the use of bioengineered products, which are more compatible with the human body. Increase in drug manufacturing through stem cells will also enhance the growth of this market. Recently, stem cells proved to be helpful in treating spinal muscular atrophy. It has been reported that in 2013, around 30,000 kids in the U.S. suffer from spinal muscular atrophy. Stem cell-based drugs would help in curing such complex diseases, which would again support the growth of this market.
Despite all these advantages, improper handling of these equipment may lead to severe injuries due to solutes. This may hinder the growth of the market since it is a major safety concern. In addition, use of intense solution of salts may sometimes behave as a toxic material, which would also hamper the growth of this market. The major players operating in the cryopreservation equipment market include Thermo Fisher Scientific, Barber Nichols, Inc., Charter Medicals Ltd., Linde Gas Cryoservices B.V and Genesearch, among other significant players worldwide.