Liquid Nitrogen Cryopreservation Market Value – US$ 4,532.5 Mn By 2028 Prediction By Acumen Research and Consulting

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Acumen Research and Consulting recently published report titled "Liquid Nitrogen Cryopreservation Market – Global Industry Analysis, Market Size, Opportunities and Forecast, 2021-2028", forecasts that the market for liquid nitrogen cryopreservation is expected to grow at a CAGR of around 12.5%.

Essential properties of liquid nitrogen stimulates the growth of global market

The most promising method of cryopreservation of living material is in liquid nitrogen at -196°C, where all processes in the cell stop and living cell can be stored unchanged for an indefinite period of time. Because of its non-toxic, odorless, and colorless properties, liquid nitrogen is widely used in the chemical and pharmaceutical industries. Apart from that, according to a US Department of Energy report, cryopreservation of human sperm using liquid nitrogen yields promising results. Because spermatozoa preservation is an important aspect of assisted reproductive medicine, the utility of liquid nitrogen has the advantage of being safer to use and clean room compatible. The chemical and pharmaceutical industries use liquid nitrogen as it is chemically inert and does not become flammable because the boiling point of nitrogen is -195.8° Celsius, which quickly improves its utility as a coolant. The aforementioned factors contribute to the overall growth of the global liquid nitrogen cryopreservation market.

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Fast freezing with liquid nitrogen help to preserve dissolved organic matter (DOM) concentrations

According to the Biogeosciences report, freezing affects the concentrations and spectroscopic properties of dissolved organic matter (DOM) in water samples where water samples are regularly frozen for sample preparation. As a result, research was carried out to investigate the impact of various freezing methods (standard freezing at -18°C and fast-freezing with liquid nitrogen). The results showed that fast freezing with liquid nitrogen prevented a significant decrease in organic carbon (DOC) concentration observed at -18°C, recommending fast freezing liquid nitrogen for preservation of bulk DOC concentrations of samples from terrestrial sources, whereas immediate measuring is preferable to preserve DOM spectroscopic properties.

COVID-19 impact on global liquid nitrogen cryopreservation market

During the pandemic, various national and international scientific societies prepared guidelines with instructions on known characteristics on the virus. The possibility of virus or other pathogen transmission among cryopreserved samples has always been a source of concern in the healthcare industry. Other studies have confirmed that environmental fungi and number of bacteria have the ability to survive at very low temperatures and have been traced in liquid nitrogen and vapor phase tanks, raising concerns. As a result, the installation and use of liquid nitrogen sterilizers is still a practice that has not achieved success in IVF laboratories due to skepticism about contamination risks or technological limitations. Furthermore, the majority of IVF clinics have been using liquid nitrogen quarantine tanks for many years to store biological samples from seropositive patients. Given the likelihood of cross contamination, the use of quarantine tanks is an additional measure to reduce disease transmission.

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Regional Overview

Based on country level analysis, US accounted considerable revenue of around US$ 612.3 Mn in 2020 for liquid nitrogen cryopreservation market

The market in the US accounted for a large revenue share due to high government involvement and expenditure in the healthcare sector and rising R&D activities by top players acting as important factors driving the market growth. Furthermore, merger and acquisition activities by top players as a competitive strategy toward the introduction of innovative products are also supporting market growth.

Among APAC region, China and India contribute for the growth of liquid nitrogen cryopreservation market

The market for liquid nitrogen cryopreservation in China is expanding rapidly as a result of increased R&D activities and innovative techniques. In Japan, laboratories and research organizations are heavily focused on molecular therapy development, which necessitates the use of different freezers to store test samples, which has a significant impact on the growth of the liquid nitrogen cryopreservation market as a whole.

Market Segmentation

Global liquid nitrogen cryopreservation market is segmented based on application and end-use. By application, the market is segmented as stem cells, sperms, semen, & testicular tissues, embryos & oocytes, and others. End-use is segmented as stem cell banks, biotechnology and pharmaceutical organization, contract research organization, stem cell research laboratories, and research and academic institutes.

Based on application, stem cells dominated the market for liquid nitrogen cryopreservation by accounting US$ 832.6 Mn in 2020

Cryopreservation is a long-term preservation technology that aims to preserve the biological properties of cells, tissues, organs, and small organisms by lowering their temperature to halt their metabolism. Cryopreservation is one of the most common methods for storing cells for an extended period of time. Stem cell transplantation is considered as a vital method for the treatment of many non-malignant and malignant diseases, the ability to cryopreserve bone marrow cells for future use is the aim of these approaches. As freezing efficiency has been repeatedly linked to long-term stored marrow to repopulate, a wide range of cryopreservatives have been widely used with multiple freezing and thawing techniques. Such factors have a positive impact on segmental growth, which is ultimately responsible for the overall growth of the global liquid nitrogen cryopreservation market.

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Based on end-user, stem cell research laboratories will dominate the market

Rising R&D activities with high utility of stem cells in the treatment of various disorders show promising results, attracting the attention of a number of private players. For example, the chemical process industries (CPI) use nitrogen as a gas or liquid in a variety of applications, such as innovative cooling and freezing technologies. Governments around the world are heavily investing in R&D activities for the development of laboratory infrastructure, which is a driving factor behind the rising demand for liquid nitrogen freezers in laboratories for research activities, thereby supporting the overall market growth.

Competitive Landscape

The prominent players of the global liquid nitrogen cryopreservation market include CUSTOM BIOGENIC SYSTEMS, Chart Industries, Linde, Taylor-Wharton, Antech Group Inc., Abeyance Cryo Solutions, Thermo Fisher Scientific, Inc., Worthington Industries, Inc., BIOLOGIX GROUP LTD, and others.

The market for liquid nitrogen cryopreservation market is highly competitive and fragmented due to the presence of large number of multinational as well as local players. The leading players are constantly looking to increase their share in the market.

  • In February 2020, Worthington Industries, announced launching of a new automated liquid nitrogen freezer product in collaboration with Celltrio. The new product namely, “The Worthington RoboStor by Celltrio is an automated liquid nitrogen freezer that offer -195C for R&D, biobanking, and cell culturing application for up to 21,600 vials.

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Acumen Research and Consulting is a global provider of market intelligence and consulting services to information technology, investment, telecommunication, manufacturing, and consumer technology markets. ARC helps investment communities, IT professionals, and business executives to make fact based decisions on technology purchases and develop firm growth strategies to sustain market competition. With the team size of 100+ Analysts and collective industry experience of more than 200 years, Acumen Research and Consulting assures to deliver a combination of industry knowledge along with global and country level expertise.

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