San Francisco, July 21, 2017: According to a new research report by TMR research, the global market for cryopreservation equipment is undergoing a phase of remarkable growth. The report, titled “Cryopreservation Equipment Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017–2025,” emphasizes on the key factors that influence the market’s performance. It also takes the existing and historical performance of this market in consideration to determine its future prospects.
Hitherto, with the widening application array of cryopreservation equipment, this market has gained significant traction across the world, states the research study. The substantial increase in the government funding in regenerative medicine has also boosted this market tremendously. The governments in various economies have allocated huge grants and funds to encourage research activities to increase the development of regenerative medicine.
Healthcare and life science units and research laboratories have surfaced as the key end user of cryopreservation equipment. Compared to research laboratories, the demand for these devices has been much higher in healthcare and life science units. Thanks to the augmenting demand for drugs discovery, advanced diagnostics, and treatments, the scenario is likely to continue in the years to come, notes the study.
On the basis of the geography, the report has classified the global market for cryopreservation equipment into the Middle East and Africa, Europe, Latin America, North America, and Asia Pacific. With the increasing prevalence rate of various lifestyle disorders, such as obesity, diabetes, and polycystic ovary syndrome (PCOS), leading to an increase in the incidence of infertility, North America has emerged as the leading regional market for cryopreservation equipment across the world. The markets in Asia Pacific and the Middle East and Africa are also projected to experience a high rise in the demand for these devices, states the market report.
The report also presents a competitive analysis of the global market for cryopreservation equipment. As per the study, the business landscape of this market is characterized by the presence of a large pool of multi-national and local vendors. Thermo Fisher Scientific Inc., Advanced Cell Technology Inc., Praxair Technology Inc., Angioblast Systems Inc., Cryologic Pty. Ltd., Boehringer Ingelheim GmbH, Custom Biogenic Systems, Genzyme Corp., Haimen United Laboratory Equipment Development Co. Ltd., Cell Therapeutics Inc., Millipore Corp., and Aastrom Biosciences Inc. are some of the leading vendors of cryopreservation equipment across the world, reports the research study.
The prime intent of this study is to provide deep insights into the global market for cryopreservation equipment to participants in an effort to assist them in expanding their market presence.